Market Overview

Mid-Day Market Update: Acuity Brands Drops On Disappointing Results; Surgical Care Affiliates Shares Surge

Share:

Midway through trading Monday, the Dow traded down 0.25 percent to 19,914.07 while the NASDAQ gained 0.30 percent to 5,537.88. The S&P also fell, dropping 0.16 percent to 2,273.43.

Leading and Lagging Sectors

Healthcare shares gained around 0.48 percent in trading on Monday. Meanwhile, top gainers in the sector included Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA), and VCA Inc (NASDAQ: WOOF).

In trading on Monday, energy shares fell by 0.79 percent. Meanwhile, top losers in the sector included Unit Corporation (NYSE: UNT), down 7 percent, and PrimeEnergy Corporation (NASDAQ: PNRG), down 7 percent.

Top Headline

Global Payments Inc (NYSE: GPN) reported better-than-expected earnings for its second quarter.

Global Payments reported Q2 earnings of $0.89 per share on revenue of $817.2 million. Analysts were expecting earnings of $0.85 per share on revenue of $803 million.

Equities Trading UP

Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) shares shot up 73 percent to $23.73 after Japan's Takeda Pharmaceutical Co Ltd announced plans to buy the company in a $5.20 billion deal.

Shares of VCA Inc (NASDAQ: WOOF) got a boost, shooting up 28 percent to $90.68 after Mars, Incorporated agreed to acquire the company.

Surgical Care Affiliates Inc (NASDAQ: SCAI) shares were also up, gaining 16 percent to $56.64 after UnitedHealth Group Inc. (NYSE: UNH) disclosed that its unit agreed to acquire Surgical Care Affiliates for around $2.3 billion.


Equities Trading DOWN

Acuity Brands, Inc. (NYSE: AYI) shares dropped 15 percent to $202.25 after the company reported downbeat quarterly results.

Shares of Galena Biopharma Inc (NASDAQ: GALE) were down around 6 percent to $1.95 after the company disclosed that the DoJ investigation into Abstral tablets is now a criminal investigation.

Stage Stores Inc (NYSE: SSI) was down, falling around 17 percent to $3.31 as the company reported a drop in its holiday season same-store sales and lowered its earnings guidance. The retailer’s same-store sales dropped 7.3 percent for the nine-week period ending December 31, 2016.


Commodities


In commodity news, oil traded down 2.82 percent to $52.47 while gold traded up 0.81 percent to $1,182.90.

Silver traded up 0.91 percent Monday to $16.67, while copper fell 0.27 percent to $2.54.

Eurozone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.49 percent, the Spanish Ibex Index declined 0.24 percent, while Italy’s FTSE MIB Index fell 1.66 percent. Meanwhile the German DAX dropped 0.30 percent, and the French CAC 40 fell 0.45 percent while U.K. shares rose 0.38 percent.

Economics

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

Posted-In: Earnings M&A News Eurozone Commodities Global Intraday Update Markets

 

Related Articles (ARIA + AYI)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

7 Biggest Price Target Changes For Monday

There's Historic Demand For Tonight's National Championship Game Between Alabama And Clemson