Market Overview

Mid-Day Market Update: Crude Oil Up Over 3%; PlayAGS Shares Fall After Downbeat Q2 Results


Midway through trading Thursday, the Dow traded up 0.99% to 26,265.41 while the NASDAQ rose 1.69% to 7,995.45. The S&P also rose, gaining 1.39% to 2,924.02.

Leading and Lagging Sectors

Information technology shares climbed 1.8% on Thursday. Meanwhile, top gainers in the sector included Talend S.A. (NASDAQ: TLND), up 18%, and ePlus inc. (NASDAQ: PLUS), up 17%.

In trading on Thursday, consumer staples shares rose by just 0.5%.

Top Headline

Viacom, Inc. (NASDAQ: VIA) reported better-than-expected second-quarter earnings and sales results.

The company reported quarterly earnings of $1.20 per share, which beat the analyst consensus estimate of $1.07. Viacom reported quarterly sales of $3.36 billion, which beat the analyst consensus estimate of $3.33 billion. Its domestic advertising revenue increased 6% to $976 million.

Equities Trading UP

Corindus Vascular Robotics, Inc. (NYSE: CVRS) shares shot up 76% to $4.2550 after the company announced it will be acquired by Siemens Healthineers AG for $4.28 per share in cash representing an aggregate purchase price of $1.1 billion.

Shares of Vitamin Shoppe, Inc. (NYSE: VSI) got a boost, shooting up 41% to $6.40 after the company announced it will be acquired by Liberty Tax for $6.50 per shares in cash, or $208 million deal.

Avedro, Inc. (NASDAQ: AVDR) shares were also up, gaining 35% to $22.96. Glaukos Corp (NYSE: GKOS) announced an agreement to acquire Avedro in an all-stock deal. Avedro also released its second-quarter results, which showed 63% revenue growth.

Equities Trading DOWN

PlayAGS, Inc. (NYSE: AGS) shares tumbled 48% to $8.96 after the company reported worse-than-expected Q2 EPS and sales results.

Shares of Rayonier Advanced Materials Inc. (NYSE: RYAM) were down 42% to $2.91 after the company reported downbeat Q2 results.

GTT Communications, Inc. (NYSE: GTT) was down, falling 46% to $6.10 after the company reported weak Q2 results.


In commodity news, oil traded up 3.2% to $52.71, while gold traded down 0.7% to $1,509.10.

Silver traded down 1.3% Thursday to $16.975, while copper rose 1.5% to $2.6105.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 1.44%, the Spanish Ibex Index rose 1.18%, while Italy’s FTSE MIB Index gained 1.17%. Meanwhile, the German DAX gained 1.38%, and the French CAC 40 rose 1.94% while UK shares rose 0.96%.


Initial jobless claims fell 8,000 to 209,000 in the latest week, the government reported. Economists were expecting a reading of 215,000.

U.S. wholesale inventories were unchanged for June.

The Treasury will auction 30-year bonds at 1:00 p.m. ET.

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


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