Mid-Afternoon Market Update: Crude Oil Down 1%; Innophos Holdings Shares Plummet

Toward the end of trading Monday, the Dow traded up 0.09% to 26794.10 while the NASDAQ rose 0.8% to 8,154.16. The S&P also rose, gaining 0.56% to 3,002.99.

Leading and Lagging Sectors

Energy shares climbed 1.7% on Monday. Meanwhile, top gainers in the sector included RPC, Inc. RES, up 10%, and Nabors Industries Ltd. NBR, up 9%.

In trading on Monday, materials shares fell 0.1%.

Top Headline

Halliburton Company 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 PETS shares shot up 37% to $26.54 after the company reported better-than-expected Q2 EPS and sales results.

Shares of NF Energy Saving Corporation BIMI surged 26% to $7.08 after the company signed a partnership agreement with Chongqing Shude Pharmaceutical Co., Ltd.

Seattle Genetics, Inc. SGEN shares gained 17% to $102.47 following the release of positive data for the company's HER2CLIMB phase 2 trial.

Equities Trading DOWN

Quaker Chemical Corporation KWR shares tumbled 7% to $149.21 after the company lowered its FY19 adjusted EBITDA guidance from year-over-year growth to down around 2-4%.

Shares of Infosys Limited INFY were down 13% to $9.19 after a whistle blower alleged the company is engaging in unethical practices to strengthen financial reports.

Innophos Holdings, Inc. IPHS was down, falling 9% to $32.03 after the company agreed to be acquired by One Rock Capital Partners for $32 per share.

Commodities


In commodity news, oil traded down 1% to $53.27, while gold traded down 0.4% to $1,487.80.

Silver traded up 0.1% Monday to $17.58, while copper rose 0.4% to $2.6455.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 0.61%, the Spanish Ibex Index rose 0.78%, while Italy’s FTSE MIB Index climbed 0.70%. Meanwhile, the German DAX gained 0.91%, and the French CAC 40 rose 0.21% while UK shares rose 0.18%

Economics

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