Market Overview

Mid-Morning Market Update: Markets Open Higher; Becton Dickinson Earnings Beat Views

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Following the market opening Tuesday, the Dow traded up 0.68% to 25892.19 while the NASDAQ rose 1.21% to 7819.42. The S&P also rose, gaining 0.78% to 2866.95.

Leading and Lagging Sectors

Information technology shares climbed 1.5% on Tuesday. Meanwhile, top gainers in the sector included Itron, Inc. (NASDAQ: ITRI), up 14%, and NeoPhotonics Corporation (NYSE: NPTN), up 14%.

In trading on Tuesday, energy shares fell 0.6%.

Top Headline

Becton Dickinson and Co (NYSE: BDX) reported better-than-expected earnings for its third quarter, while sales missed estimates.

Becton Dickinson reported quarterly earnings of $3.08 per share, which beat the analyst consensus estimate of $3.05 per share. The company posted quarterly sales of $4.35 billion, versus analysts’ estimates of $ $4.37 billion.

Equities Trading UP

EverQuote, Inc. (NASDAQ: EVER) shares shot up 42% to $18.71 after the company reported better-than-expected Q2 EPS and sales results. The company also issued Q3 and FY19 sales guidance above analyst estimates.

Shares of T2 Biosystems, Inc. (NASDAQ: TTOO) got a boost, shooting up 29% to $0.8752 after the company announced that the United States Centers for Medicare & Medicaid Services approved a new technology add on payment for the company's T2Bacteria panel.

Ducommun Incorporated (NYSE: DCO) shares were also up, gaining 22% to $47.86 after the company reported better-than-expected Q2 EPS and sales results.

Equities Trading DOWN

GreenSky, Inc. (NASDAQ: GSKY) shares tumbled 29% to $7.32 after the company reported worse-than-expected Q2 EPS and sales results and announced intent to explore strategic alternatives.

Shares of Care.com, Inc. (NYSE: CRCM) were down 21% to $8.05 after the company reported downbeat Q2 sales and issued weak forecast.

Unit Corporation (NYSE: UNT) was down, falling 20% to $3.75 following weak Q2 results.

 

Commodities

In commodity news, oil traded up 0.6% to $55.04, while gold traded down 0.1% to $1,475.70.

Silver traded up 0.1% Tuesday to $16.40, while copper rose 0.6% to $2.5595.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.7%, the Spanish Ibex Index rose 0.5%, while Italy’s FTSE MIB Index climbed 0.6%. Meanwhile, the German DAX gained 0.7%, and the French CAC 40 rose 1% while UK shares rose 0.1%.

Economics

The Johnson Redbook Retail Sales Index rose 1.1% during the first week of August versus July.

The number of job openings in the US fell slightly to 7.348 million in June, versus a revised 7.384 million in the prior month, the Labor Department reported.

The Treasury is set to auction 3-year notes at 1:00 p.m. ET.

St. Louis Federal Reserve Bank President James Bullard is set to speak in Washington, DC at 1:05 p.m. ET.

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

 

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