Market Overview

Mid-Day Market Update: Dave & Buster's Climbs On Upbeat Results; Sigma Designs Shares Slide


Midway through trading Wednesday, the Dow traded up 0.30 percent to 19,308.81 while the NASDAQ gained 0.01 percent to 5,333.19. The S&P also rose, gaining 0.21 percent to 2,216.83.

Leading and Lagging Sectors

On Wednesday, basic materials shares gained by 1.12 percent. Meanwhile, top gainers in the sector included Intrepid Potash, Inc. (NYSE: IPI), and Asanko Gold Inc (NYSE: AKG).

In trading on Wednesday, healthcare shares fell by 1.62 percent. Meanwhile, top losers in the sector included Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA), down 8 percent, and Exelixis, Inc. (NASDAQ: EXEL), down 8 percent.

Top Headline

Korn/Ferry International (NYSE: KFY) reported better-than-expected results for its second quarter on Wednesday.

Korn/Ferry reported Q2 earnings of $0.59 per share on revenue of $415 million. Analysts were expecting earnings of $0.57 per share on revenue of $391 million.

The company expects Q3 fee revenue of $370 to $390 million and earnings of$0.48 to $0.56 per share.

Equities Trading UP

Anthera Pharmaceuticals Inc (NASDAQ: ANTH) shares shot up 35 percent to $1.98 after the company reported that blisibimod Bright-SC IgA nephropathy continued to demonstrate 48 week positive trend analysis.

Shares of EMCORE Corporation (NASDAQ: EMKR) got a boost, shooting up 25 percent to $8.05 after the company posted upbeat Q4 results.

Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) shares were also up, gaining 18 percent to $56.78 after the company reported stronger-than-expected results for its third quarter and boosted its full year net income guidance.

Equities Trading DOWN

Sigma Designs Inc (NASDAQ: SIGM) shares dropped 30 percent to $5.43. Sigma Designs reported fiscal third-quarter net income of $221,000 on revenue of $62.7 million.

Shares of Applied DNA Sciences Inc (NASDAQ: APDN) were down 11 percent to $2.00. Applied DNA Sciences reported a Q4 loss of $2.4 million on revenue of $1.6 million.

Oxford Industries Inc (NYSE: OXM) was down, falling around 11 percent to $63.61. Oxford Industries reported a narrower-than-expected loss for its third quarter. The company projects full-year earnings of $3.50 to $3.65 per share, and revenue of $1.02 billion to $1.03 billion.


In commodity news, oil traded down 1.18 percent to $50.33 while gold traded up 0.77 percent to $1,179.10.

Silver traded up 2.35 percent Wednesday to $17.21, while copper fell 1.51 percent to $2.64.


European shares were higher today. The eurozone’s STOXX 600 gained 0.89 percent, the Spanish Ibex Index rose 0.59 percent, while Italy’s FTSE MIB Index surged 2.10 percent. Meanwhile the German DAX climbed 1.95 percent, and the French CAC 40 gained 1.23 percent while U.K. shares rose 1.81 percent.


The MBA’s index of mortgage application activity declined 0.7 percent for the latest week.

Job openings declined 5.5 million in October, versus a revised reading of 5.6 million in September, the Labor Department reported.

U.S crude supplies dropped 2.4 million barrels for the week ended December 2, the U.S. Energy Information Administration reported. However, analysts were projecting a decline of 1.7 million barrels. Gasoline supplies rose 3.4 million barrels, while distillate stockpiles increased 2.5 million barrels.

Data on consumer credit for October will be released at 3:00 p.m. ET.


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