Skip to main content

Market Overview

Mid-Afternoon Market Update: Park City Falls Following Q4 Results; MER Telemanagement Solutions Shares Climb


Toward the end of trading Friday, the Dow traded up 0.06% to 27199.48 while the NASDAQ fell 0.35% to 8,166.08. The S&P also fell, dropping 0.22% to 3,003.05.

Leading and Lagging Sectors

Materials shares climbed 1.2% on Friday. Meanwhile, top gainers in the sector included Ferroglobe PLC (NYSE: GSM), up 8%, and Taseko Mines Limited (NYSE: TGB), up 9%.

In trading on Friday, real estate shares fell 1.5%.

Top Headline

Castle Creek Pharmaceutical Holdings announced it will acquire Fibrocell Science, Inc. (NASDAQ: FCSC), a cell and gene therapy company in a $3 per share cash.

Castle Creek Pharmaceuticals is a privately held company developing therapies for patients with rare, serious or debilitating dermatologic conditions. Castle Creek Pharmaceuticals already has a licensing and development collaboration with Fibrocell, which began in April.

Equities Trading UP

MER Telemanagement Solutions Ltd. (NASDAQ: MTSL) shares shot up 30% to $1.56 after the company reported better-than-expected H1'19 EPS results. Mer Telemanagement reported H1'19 EPS of $(0.04) on sales of $2.6 million.

Shares of Fibrocell Science Inc (NASDAQ: FCSC) got a boost, shooting up 60% to $2.93 after the company agreed to be acquired by Castle Creek Pharmaceutical for an all-cash consideration of $3 per share.

Vince Holding Corp. (NYSE: VNCE) shares were also up, gaining 25% to $14.40 after the company reported Q2 results.

Equities Trading DOWN

Ardelyx, Inc. (NASDAQ: ARDX) shares tumbled 16% to $5.27. Ardelyx announced the FDA has approved its tenapanor, brand name Ibsrela, a 50mg twice-daily oral pill for the treatment of irritable bowel syndrome with constipation in adults. The drug acts locally in the gastrointestinal tract by inhibiting the sodium-hydrogen exchanger, leading to increased bowel movements and decreased abdominal pain.

Shares of Park City Group, Inc. (NASDAQ: PCYG) were down 13% to $6.65 after reporting Q4 results.

Ritter Pharmaceuticals, Inc. (NASDAQ: RTTR) was down, falling 70% to $0.32 following a clinical readout. Ritter said the Phase 3 trial of RP-G28 that's being evaluated for lactose intolerance failed to show statistical significance in its pre-specified primary endpoint.


In commodity news, oil traded down 0.4% to $54.85, while gold traded down 0.9% to $1,493.70.

Silver traded down 3.9% Friday to $1,493.70, while copper rose 2.2% to $2.6985.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 0.34%, the Spanish Ibex Index rose 0.5%, while Italy’s FTSE MIB Index rose 0.44%. Meanwhile, the German DAX rose 0.47% and the French CAC 40 climbed 0.22% while UK shares rose 0.31%.


The import price index dropped 0.5% for August, while export prices declined 0.6% last month.

U.S. retail sales increased 0.4% for August, versus economists’ expectations for a 0.2% rise.

The University of Michigan's consumer sentiment index rose to 92 in September, versus 89.8 in previous month.

U.S. business inventories rose 0.4% for July, versus economists’ expectations for a 0.3% gain.

The total number of active U.S. oil rigs slipped by 5 to 733 rigs this week, Baker Hughes Inc reported.


Related Articles (FCSC + ARDX)

View Comments and Join the Discussion!

Posted-In: Mid-Afternoon 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.
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