Market Overview

Mid-Day Market Update: ToughBuilt Industries Falls After Q2 Results; iBio Shares Surge

Share:

Midway through trading Tuesday, the Dow traded up 0.09% to 26160.12 while the NASDAQ rose 0.1% to 8010.57. The S&P also fell, dropping 0.01% to 2923.60.

Leading and Lagging Sectors

Consumer discretionary shares rose 0.3% on Tuesday. Meanwhile, top gainers in the sector included The Rubicon Project Inc (NYSE: RUBI), up 6%, and Hilton Grand Vacations Inc. (NYSE: HGV), up 10%.

In trading on Tuesday, materials shares tumbled by 0.8%.

Top Headline

Home Depot Inc (NYSE: HD) reported upbeat earnings for its second quarter, while sales missed views. The company also lowered its 2019 sales outlook.

Home Depot reported second-quarter earnings of $3.17 per share, which beat the analyst consensus estimate of $3.09. The company reported quarterly sales of $30.839 billion, which missed the analyst consensus estimate of $31.04 billion. Home Depot reaffirmed EPS for 2019.

Equities Trading UP

iBio, Inc. (NYSE: IBIO) shares shot up 53% to $1.07 after the company announced an agreement with United Therapeutics to produce recombinant human collagen-based bioink for 3D bioprinted organ transplants.

Shares of Cheetah Mobile Inc (NYSE: CMCM) got a boost, shooting up 28% to $4.21 after the company reported better-than-expected Q2 sales results.

Cemtrex, Inc. (NASDAQ: CETX) shares were also up, gaining 77% to $2.69 after the company reported results for the three months ended June 30, 2019. The company posted quarterly net loss of $2,933,338, versus a year-ago loss of $3,498,291.

Equities Trading DOWN

NuCana plc (NASDAQ: NCNA) shares tumbled 19% to $5.92 after the company suspended enrollment in independent investigator-sponsored Phase III metastatic pancreatic study ACELARATE following a prespecified futility analysis.

Shares of Synlogic, Inc. (NASDAQ: SYBX) were down 30% to $3.3950 after the company announced that it would discontinue the development of its SYNB1020. The SYNB1020 is an early-stage clinical product candidate for the treatment of Hyperammonemia.

ToughBuilt Industries, Inc.. (NASDAQ: TBLT) was down, falling 36% to $0.3550 after the company reported Q2 earnings results. ToughBuilt Industries posted Q2 EPS of $0.00, versus a year-ago loss of $0.74. Its sales rose to $4.75 million from $4.54 million.

Commodities

In commodity news, oil traded down 1.4% to $55.40, while gold traded up 0.1% to $1,512.40.

Silver traded up 0.9% Tuesday to $17.085, while copper fell 1.2% to $2.571.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.52%, the Spanish Ibex Index fell 0.86%, while Italy’s FTSE MIB Index slipped 0.57%. Meanwhile, the German DAX dropped 0.49%, and the French CAC 40 fell 0.5% while UK shares fell 0.68%.

Economics

San Francisco Federal Reserve Bank President Mary Daly is set to speak at 4:30 p.m. ET.

Federal Reserve Board of Governors Vice Chairman for Supervision Randal Quarles will speak in Salt Lake City, Utah at 6:00 p.m. ET.

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

 

Related Articles (CMCM + CETX)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
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.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
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

Rosenblatt Picks A Winner Between Square And PayPal

Near-Term Headwinds Prompt Imperial Capital To Lower Disney Price Target