Market Overview

Mid-Day Market Update: US Steel Falls Following Weak Guidance; Eros International Shares Surge


Midway through trading Thursday, the Dow traded up 0.28% to 27,222.09 while the NASDAQ rose 0.69% to 8,233.46. The S&P also rose, gaining 0.41% to 3,019.02.

Leading and Lagging Sectors

Information technology shares climbed 1% on Thursday. Meanwhile, top gainers in the sector included Enphase Energy Inc (NASDAQ: ENPH), up 8%, and Solaredge Technologies Inc (NASDAQ: SEDG), up 6%.

In trading on Thursday, energy shares fell 0.2%.

Top Headline

Darden Restaurants, Inc. (NYSE: DRI) reported upbeat earnings for its first quarter, while sales missed views.

Darden Restaurants reported first-quarter earnings of $1.38 per share, which beat the analyst consensus estimate of $1.36. The company reported quarterly sales of $2.134 billion, which missed the analyst consensus estimate of $2.14 billion. The company also announced a $500 million buyback.

Equities Trading UP

Westwater Resources, Inc. (NASDAQ: WWR) shares shot up 18% to $3.65 after the company announced agreement to purchase natural flake graphite for Coosa Project.

Shares of Eros International Plc (NYSE: EROS) got a boost, shooting up 26% to $3.21 after the company announced it would collaborate with Microsoft to develop the next generation online video platform.

AIM ImmunoTech Inc (NYSE: AIM) shares were also up, gaining 85% to $3.03 after the company announced that the Department of Defense has granted a four-year, $6.42 million "Breakthrough Award" to Roswell Park Comprehensive Cancer Center for a clinical study of the company's drug Ampligen, in patients with brain-metastatic breast cancer.

Equities Trading DOWN

McDermott International, Inc. (NYSE: MDR) shares tumbled 23% to $1.66 on continued momentum after the company announced it has hired advisors to 'evaluate opportunities' for the company in order to improve capital structure and the balance sheet.

Shares of United States Steel Corporation (NYSE: X) were down 12% to $10.95 after the company issued Q3 EPS guidance below analyst estimates.

VBI Vaccines Inc (NASDAQ: VBIV) was down, falling 25% to $0.50 after the company reported a common stock offering.


In commodity news, oil traded up 0.9% to $58.61, while gold traded down 0.4% to $1,509.70.

Silver traded up 0.1% Thursday to $17.93, while copper rose 0.1% to $2.6135.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.57%, the Spanish Ibex Index rose 1.06%, while Italy’s FTSE MIB Index climbed 0.83%. Meanwhile, the German DAX gained 0.51%, and the French CAC 40 rose 0.61% while UK shares rose 0.67%.


U.S. initial jobless claims rose 2,000 to 208,000 for the latest week. However, economists were expecting a reading of 213,000.

The Philadelphia Fed manufacturing index fell to 12 in September, versus prior reading of 16.8. However, analysts projected a reading of 11.

U.S. current-account deficit shrank 5.9% to $128.2 billion in the second quarter, versus a revised $136.2 billion in the first quarter.

U.S. existing home sales rose 1.3% to an annual rate of 5.49 million for August. However, analysts were expecting a 5.37 million rate.

Domestic supplies of natural gas climbed 84 billion cubic feet for the week ended September 13, the U.S. Energy Information Administration reported. Analysts projected a gain of 76 billion cubic feet.

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

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


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