Mid-Afternoon Market Update: Diebold Nixdorf Jumps On Upbeat Q2 Results; World Acceptance Shares Slide

Toward the end of trading Thursday, the Dow traded down 0.51% to 27,130.77 while the NASDAQ fell 0.85% to 8,250.66. The S&P also fell, dropping 0.45% to 3,005.83.

Leading and Lagging Sectors

Consumer staples shares slipped by just 0.1% on Thursday. Meanwhile, top gainers in the sector included Ambev S.A. ABEV, up 9%, and Beyond Meat, Inc. BYND, up 6%.

In trading on Thursday, energy shares fell 1%.

Top Headline

Facebook, Inc. FB reported upbeat earnings for its second quarter on Wednesday.

Adjusted earnings came in at $1.99, beating estimates by 12 cents. Sales came in at $16.886 billion, beating estimates by $476 million. DAUs increased 8% year-over-year to 1.59 billion, while MAUs increased 8% year-over-year to 2.41 billion.

Equities Trading UP

Gemphire Therapeutics Inc. GEMP shares shot up 19% to $0.8332 after the company announced a merger with NeuroBO Pharmaceuticals.

Shares of Anika Therapeutics, Inc. ANIK got a boost, shooting up 32% to $53.96 after the company reported better-than-expected Q2 sales results.

Diebold Nixdorf, Incorporated DBD shares were also up, gaining 26% to $12.98 after the company reported better-than-expected Q2 EPS and sales results. The company also raised FY19 sales guidance.

Equities Trading DOWN

Align Technology, Inc. ALGN shares tumbled 27% to $200.41 after the company issued Q3 EPS and sales guidance below analyst estimates. Evercore ISI Group downgraded the company's stock from Outperform to In-Line and lowered the price target from $340 to $220.

Shares of World Acceptance Corporation WRLD were down 22% to $127.70 following Q1 results. Janney Capital downgraded World Acceptance from Neutral to Sell and lowered the price target from $108 to $87.

Spirit Airlines, Inc. SAVE was down, falling 21% to $ 43.58 after multiple firms downgraded the company's stock following the release of the company's Q2 results.

Commodities

In commodity news, oil traded up 1% to $56.43, while gold traded down 0.7% to $ 1,414.10.

Silver traded down 1.3% Thursday to $16.415, while copper fell 0.3% to $2.703
.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 fell 0.56%, the Spanish Ibex Index fell 0.43%, while Italy’s FTSE MIB Index dipped 0.8%. Meanwhile, the German DAX dropped 1.28%, and the French CAC 40 fell 0.50% while UK shares fell 0.17%.

Economics

Durable-goods orders increased 2% in June, versus economists’ expectations for a 0.7% rise.

The advance trade deficit in goods shrank 1.2% to $74.2 billion in June. However, economists were expecting a deficit of $72.6 billion. Wholesale inventories fell 0.2% in June, while advanced retail inventories declined 0.1%.

Initial jobless claims fell 10,000 to 206,000 in the latest week. However, economists projected a reading of 218,000.

Data on money supply for the recent week will be released at 4:30 p.m. ET.