Market Overview

Mid-Afternoon Market Update: Inpixon Drops Following Q1 Results; Technical Communications Shares Spike Higher


Toward the end of trading Friday, the Dow traded down 0.15 percent to 20,888.13 while the NASDAQ gained 0.10 percent to 6,122.20. The S&P also fell, dropping 0.18 percent to 2,390.02.

Leading and Lagging Sectors

Healthcare sector was the top gainer in the US market on Friday. Top gainers in the sector included Sangamo Therapeutics Inc (NASDAQ: SGMO), Endocyte, Inc. (NASDAQ: ECYT), and Rexahn Pharmaceuticals, Inc. (NYSE: RNN).

In trading on Friday, industrial shares were relative laggards, down on the day by about 0.52 percent. Meanwhile, top losers in the sector included CDI Corp. (NYSE: CDI), down 12 percent, and DryShips Inc. (NASDAQ: DRYS), down 7 percent.

Top Headline

J C Penney Company Inc (NYSE: JCP) reported mixed results for its first quarter on Friday.

JC Penney said it earned $0.06 per share in the first quarter on revenue of $2.7 billion (versus $2.8 billion a year ago). Wall Street analysts were expecting the retailer to lose $0.21 per share on revenue of $2.77 billion. Comparable store sales for the quarter fell 3.5 percent, yet net income improved by $116 million from a year ago to a net loss of $97 million per share.

Equities Trading UP

Trade Desk Inc (NASDAQ: TTD) shares shot up 31 percent to $52.33 after the company reported a profit in its first quarter on Thursday. The company posted quarterly earnings of $4.9 million, or $0.11 per share, versus a year-ago loss of $1 million, or $4.45 per share.

Shares of Technical Communications Corporation (NASDAQ: TCCO) got a boost, shooting up 15 percent to $2.82. Technical Communications reported quarterly earnings of $0.07 per share on revenue of $1.38 million.

Pingtan Marine Enterprise Ltd (NASDAQ: PME) shares were also up, gaining 22 percent to $3.47 after the company disclosed that it has signed a Framework Agreement with Shanghai City Supermarket and Shenzhen Honglicun Restaurant to provide its fish products.

Equities Trading DOWN

Capricor Therapeutics Inc (NASDAQ: CAPR) shares dropped 58 percent to $1.28 after the company issued an update on Allstar trial. The company disclosed that Allstar trial is unlikely to achieve primary efficacy endpoint of change in infarct size in patients following heart attack.

Shares of Ardelyx Inc (NASDAQ: ARDX) were down around 38 percent to $7.55. Ardelyx reported that its Phase 3 T3MPO-1 trial of Tenapanor in patients with IBS-C achieved primary endpoint.

Inpixon (NASDAQ: INPX) was down, falling around 26 percent to $2.37. Inpixon reported a Q1 loss of $2.03 per share on sales of $13.5 million. B. Riley downgraded Inpixon from Buy to Neutral.


In commodity news, oil traded down 0.29 percent to $47.69 while gold traded up 0.30 percent to $1,227.90.

Silver traded up 0.92 percent Friday to $16.415, while copper rose 0.60 percent to $2.5235.


European shares closed higher today. The eurozone’s STOXX 600 rose 0.31 percent, the Spanish Ibex Index rose 0.33 percent, while Italy’s FTSE MIB Index climbed 0.43 percent. Meanwhile the German DAX climbed 0.47 percent, and the French CAC 40 surged 0.41 percent while U.K. shares rose 0.66 percent.


The Consumer Price Index increased 0.2 percent for April, versus a 0.3 percent decline in the previous month.

U.S. retail sales rose 0.4 percent for April, versus economists’ expectations for a 0.6 percent growth.

U.S. business inventories increased 0.2 percent for March, beating economists’ expectations for a 0.1 percent gain.

The University of Michigan's consumer sentiment index climbed to 97.7 in May, versus a reading of 97.0 in April. Economists expected a reading of 97 for the month.


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