Mid-Afternoon Market Update: Dow Up Over 300 Points; Dean Foods Shares Drop On Downbeat Q2 Results

Toward the end of trading Tuesday, the Dow traded up 1.18% to 26,020.64 while the NASDAQ rose 1.51% to 7,843.06. The S&P also rose, gaining 1.32% to 2,882.22.


Leading and Lagging Sectors

Information technology shares climbed 1.7% on Tuesday. Meanwhile, top gainers in the sector included Itron, Inc. ITRI, up 16%, and NeoPhotonics Corporation NPTN, up 29%.

In trading on Tuesday, energy shares fell 0.3%.


Top Headline

Becton Dickinson and Co 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. EVER shares shot up 49% to $19.68 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 Adient plc ADNT got a boost, shooting up 31% to $25.25 after the company announced upbeat Q3 earnings.

NeoPhotonics Corporation NPTN shares were also up, gaining 29% to $5.59 after the company reported better-than-expected Q2 EPS and sales results. The company also issued Q3 EPS and sales results above analyst estimates.


Equities Trading DOWN

GreenSky, Inc. GSKY shares tumbled 37% to $6.57 after the company reported worse-than-expected Q2 EPS and sales results and announced intent to explore strategic alternatives.

Shares of Avid Technology, Inc. AVID were down 35% to $6.26 after reporting downbeat Q2 results.

Dean Foods Company DF was down, falling 31% to $1.15 after the company reported worse-than-expected Q2 EPS and sales results.

 

Commodities


In commodity news, oil traded down 2.1% to $53.54, while gold traded up 0.4% to $1,482.20.

Silver traded up 0.2% Tuesday to $16.42, while copper rose 0.8% to $2.5635.

Euro zone


European shares closed higher today. The eurozone’s STOXX 600 fell 0.47%, the Spanish Ibex Index fell 0.89%, while Italy’s FTSE MIB Index slipped 0.68%. Meanwhile, the German DAX dropped 0.78%, and the French CAC 40 fell 0.13% while UK shares fell 0.72%.

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.

 

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsEurozoneCommoditiesGlobalIntraday UpdateMarketsMid-Afternoon Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...