Market Overview

Mid-Day Market Update: Smith & Wesson Declines On Weak Forecast; Envision Healthcare Shares Spike Higher



Midway through trading Friday, the Dow traded down 0.11 percent to 19,171.01 while the NASDAQ climbed 0.13 percent to 5,257.71. The S&P also rose, gaining 0.09 percent to 2,192.96.

Leading and Lagging Sectors

On Friday, non-cyclical consumer goods & services shares gained by 1.10 percent.

In trading on Friday, financial shares fell by 0.25 percent. Meanwhile, top losers in the sector included Marlin Business Services Corp. (NASDAQ: MRLN), down 5 percent, and BBVA Banco Frances S.A. (ADR) (NYSE: BFR), down 5 percent.

Top Headline

Big Lots, Inc. (NYSE: BIG) reported upbeat earnings for its third quarter and raised its profit outlook for the year.

Big Lots posted quarterly earnings of $0.04 per share, on revenue of $1.105 billion. However, analysts were expecting a loss of $0.01 per share on revenue of $1.12 billion.

The company raised its full-year EPS to $3.55–$3.60 from $3.45–$3.55.

Equities Trading UP

Envision Healthcare Holdings Inc (NYSE: EVHC) shares shot up 217 percent to $71.57. Envision Healthcare and Amsurg Corp (NASDAQ: AMSG) reported the completion of their merger.

Shares of Ascena Retail Group Inc (NASDAQ: ASNA) got a boost, shooting up 21 percent to $7.07 as the company reported downbeat earnings for its first quarter on Thursday.

Neovasc Inc (US) (NASDAQ: NVCN) shares were also up, gaining 68 percent to $0.862 following announcement of an agreement with Boston Scientific Corporation (NYSE: BSX).

Equities Trading DOWN

Workday Inc (NYSE: WDAY) shares dropped 12 percent to $71.37. Workday posted better-than-expected results for its third quarter on Thursday.

Shares of Smith & Wesson Holding Corp (NASDAQ: SWHC) were down 10 percent to $21.51. Smith & Wesson reported upbeat results for its second quarter, but issued a weak outlook for its third quarter.

CEL-SCI Corporation (NYSE: CVM) was down, falling around 36 percent to $0.115 after the company reported the pricing of $4.25 million public offering of common stock and warrants.


In commodity news, oil traded up 0.61 percent to $51.37 while gold traded up 0.70 percent to $1,177.60.

Silver traded up 1.66 percent Friday to $16.78, while copper fell 0.76 percent to $2.62.


European shares were lower today. The eurozone’s STOXX 600 declined 0.35 percent, the Spanish Ibex Index fell 0.64 percent, while Italy’s FTSE MIB Index declined 0.06 percent. Meanwhile the German DAX dropped 0.05 percent, and the French CAC 40 slipped 0.54 percent while U.K. shares fell 0.33 percent.


The U.S. economy added 178,000 new jobs in November, while unemployment rate declined to 4.6 percent from 4.9 percent. However, economists were expecting a gain of 175,000 nonfarm jobs.

Federal Reserve Gov. Daniel Tarullo will speak in Washington, D.C. at 12:30 p.m. ET.

The Baker Hughes North American rig count report for the latest week November is schedule for release at 1:00 p.m. ET.


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