Market Overview

Mid-Day Market Update: Petmed Express Jumps On Upbeat Earnings; Infosys Shares Slide

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Midway through trading Monday, the Dow traded up 0.14% to 26806.62 while the NASDAQ rose 0.74% to 8149.29. The S&P also rose, gaining 0.53% to 3,002.04.

Leading and Lagging Sectors

Energy shares climbed 1.3% on Monday. Meanwhile, top gainers in the sector included RPC, Inc. (NYSE: RES), up 10%, and Halliburton Company (NYSE: HAL), up 7%.

In trading on Monday, health care shares fell 0.1%.

Top Headline

Halliburton Company (NYSE: HAL) reported in-line earnings for its third quarter, while sales missed views.

Halliburton reported third-quarter earnings of 34 cents per share, which met the analyst consensus estimate. The company reported quarterly sales of $5.55 billion, which missed the analyst consensus estimate of $5.83 billion.

Equities Trading UP

Petmed Express Inc (NASDAQ: PETS) shares shot up 27% to $24.78 after the company reported better-than-expected Q2 EPS and sales results.

Shares of NF Energy Saving Corporation (NASDAQ: BIMI) surged 20% to $6.70 after the company signed a partnership agreement with Chongqing Shude Pharmaceutical Co., Ltd.

Seattle Genetics, Inc. (NASDAQ: SGEN) shares gained 15% to $100.86 following the release of positive data for the company's HER2CLIMB phase 2 trial.

Equities Trading DOWN

Quaker Chemical Corporation (NYSE: KWR) shares tumbled 8% to $147.74 after the company lowered its FY19 adjusted EBITDA guidance from year-over-year growth to down around 2-4%.

Shares of Infosys Limited (NYSE: INFY) were down 14% to $9.06 after a whistle blower alleged the company is engaging in unethical practices to strengthen financial reports.

Innophos Holdings, Inc. (NASDAQ: IPHS) was down, falling 10% to $31.97 after the company agreed to be acquired by One Rock Capital Partners for $32 per share.

Commodities

In commodity news, oil traded down 1.3% to $53.08, while gold traded down 0.1% to $1,492.60.

Silver traded up 1% Monday to $17.755, while copper rose 0.5% to $2.6485.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.67%, the Spanish Ibex Index rose 0.92%, while Italy’s FTSE MIB Index climbed 0.74%. Meanwhile, the German DAX gained 1.06%, and the French CAC 40 rose 0.45% while UK shares rose 0.25%

Economics

On the economics calendar Monday, there is no important data due out.

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

 

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