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Market Overview

Mid-Afternoon Market Update: Crude Oil Up 1%; Five Below Shares Rise On Earnings Beat

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Toward the end of trading Friday, the Dow traded down 0.21 percent to 19,152.45 while the NASDAQ declined 0.03 percent to 5,249.63. The S&P also fell, dropping 0.11 percent to 2,188.75.

Leading and Lagging Sectors

Friday afternoon, non-cyclical consumer goods & services shares gained by 0.78 percent.

In trading on Friday, telecommunications services shares fell by 0.43 percent. Meanwhile, top losers in the sector included Internet Gold Golden Lines Ltd (NASDAQ: IGLD), down 10 percent, and China Unicom (Hong Kong) Limited (ADR) (NYSE: CHU), down 3 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 211 percent to $70.15. Envision Healthcare and Amsurg Corp (NASDAQ: AMSG) reported the completion of their merger.

Shares of Five Below Inc (NASDAQ: FIVE) got a boost, shooting up 12 percent to $44.74 after the company reported stronger-than-expected earnings for its fiscal third quarter.

Neovasc Inc (US) (NASDAQ: NVCN) shares were also up, gaining 71 percent to $0.880 following announcement of an agreement with Boston Scientific Corporation (NYSE: BSX).


Equities Trading DOWN

Ambarella Inc (NASDAQ: AMBA) shares dropped 11 percent to $55. Ambarella posted stronger-than-expected results for its third quarter, but issued a weak revenue forecast for the current quarter.

Shares of Smith & Wesson Holding Corp (NASDAQ: SWHC) were down 12 percent to $21.04. 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 37 percent to $0.113 after the company reported the pricing of $4.25 million public offering of common stock and warrants.


Commodities


In commodity news, oil traded up 1 percent to $51.57 while gold traded up 0.63 percent to $1,176.80.

Silver traded up 1.72 percent Friday to $16.79, while copper fell 0.57 percent to $2.63.

Eurozone

European shares closed lower today. The eurozone’s STOXX 600 declined 0.44 percent, the Spanish Ibex Index fell 0.72 percent, while Italy’s FTSE MIB Index declined 0.07 percent. Meanwhile the German DAX dropped 0.20 percent, and the French CAC 40 slipped 0.70 percent while U.K. shares fell 0.33 percent.

Economics

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.

 

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