Skip to main content

Market Overview

Mid-Day Market Update: BlackLine Surges Following Upbeat Q2 Results; Glu Mobile Shares Slide

Share:

Midway through trading Friday, the Dow traded down 0.60% to 26423.09 while the NASDAQ fell 1.28% to 8006.90. The S&P also fell, dropping 0.72% to 2,932.37.

Leading and Lagging Sectors

Real estate shares climbed 0.7% on Friday. Meanwhile, top gainers in the sector included Sunstone Hotel Investors, Inc. (NYSE: SHO), up 5%, and Redfin Corporation (NASDAQ: RDFN), up 7%.

In trading on Friday, information technology shares fell 1.9%.

Top Headline

Exxon Mobil Corporation (NYSE: XOM) reported better-than-expected earnings for its second quarter.

Exxon Mobil reported second-quarter earnings of 73 cents per share, which beat the analyst consensus estimate of 69 cents. Oil-equivalent production was 3.9 million barrels per day, up 7% from the second quarter of 2018.

Equities Trading UP

Aphria Inc. (NYSE: APHA) shares shot up 37% to $7.11 after reporting a huge increase in quarterly net revenue. Fourth-quarter net revenue came in at CA$128.6 million. This isup from CA$12.03 million in the same period last year, an increase of 969%.

Shares of Regional Health Properties, Inc. (NYSE: RHE) got a boost, shooting up 22% to $2.57 after the company reported the sale of 3 properties for $26.1 million. The company extinguished $24.7 million in secured debt.

BlackLine, Inc. (NASDAQ: BL) shares were also up, gaining 29% to $54.70 after reporting upbeat Q2 results.

Equities Trading DOWN

Glu Mobile Inc. (NASDAQ: GLUU) shares tumbled 41% to $4.5050 after the company reported downbeat results for its second quarter and lowered its annual outlook.

Shares of Acorda Therapeutics, Inc. (NASDAQ: ACOR) were down 49% to $3.10 after the company reported Q2 results.

Fluidigm Corporation (NASDAQ: FLDM) was down, falling 34% to $7.98 after the company reported worse-than-expected Q2 sales results.

 

Commodities

In commodity news, oil traded up 2.9% to $55.51, while gold traded up 1.9% to $ 1,459.00.

Silver traded up 0.7% Friday to $16.29, while copper fell 3.6% to $2.5695.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 2.46%, the Spanish Ibex Index fell 1.56%, while Italy’s FTSE MIB Index dropped 2.41%. Meanwhile, the German DAX dropped 3.11%, and the French CAC 40 fell 3.57% while UK shares fell 2.34%.

Economics

The U.S. economy added 164,000 new jobs in July, while the unemployment rate was unchanged at 3.7%. However, economists were expecting a gain of 164,000 jobs.

U.S. trade deficit fell 0.3% to $55.2 billion in June. However, economists were projecting a $54.6 billion deficit. Exports fell 2.1% to $206.3 billion, while imports slipped 1.7% to $261.5 billion in June.

The final reading of University of Michigan's consumer sentiment index rose to 98.4 in July, compared to 98.2 in June. However, economists were expecting a reading of 98.5.

U.S. factory orders increased 0.6% for June.

The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

 

 

Related Articles (ACOR + APHA)

View Comments and Join the Discussion!

Posted-In: Mid-Day Market UpdateEarnings News Eurozone Commodities Global Intraday Update Markets

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
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