Market Overview

Mid-Afternoon Market Update: Health Care Shares Climb 1.04%, Biogen Shares Spike

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Toward the end of trading Tuesday, the Dow traded up 0.41% to 26,938.23, while the NASDAQ fell 0.16% to 8,149.89. The S&P rose, gaining 0.15% to 3,011.41.

Leading and Lagging Sectors

Health Care shares climbed 1.04% on Tuesday. Meanwhile, top gainers in the sector included Biogen, Inc. (NASDAQ: BIIB), up 38.49%, and GNC Holdings Inc (NYSE: GNC), up 17.79%.

In trading on Tuesday, Information Technology shares fell 0.68%.

Top Headline

McDonald's Corp (NYSE: MCD) reported a third-quarter earnings miss, and traded lower in the session.
McDonald's reported third-quarter GAAP earnings of $2.11 per share, which missed the consensus estimate of $2.21. The company posted quarterly sales of $5.43 billion, short of the consensus estimate of $5.49 billion.

Equities Trading UP

Biogen, Inc. (NASDAQ: BIIB) shares shot up 38.49% to $309.53 after the company announced that it intended to file a BLA for its early Alzheimer's treatment, aducanumab.

Shares of Stamps.com Inc. (NASDAQ: STMP) surged 18.98% to $90.58 following the announcement of a partnership with United Parcel Service, Inc. (NYSE: UPS) that would allow the former company's customers to access discounted shipping rates from UPS.

Cision Ltd. (NYSE: CISN) was up, rising 17.99% to $9.97 after the company announced that it had entered into a definite agreement to be acquired by an affiliate of Platinum Equity, in an all-cash deal worth $2.74 billion.

Equities Trading DOWN

TOP SHIPS Inc. (NASDAQ: TOPS) shares tumbled 18.20% to $3.46.

Shares of Howard Hughes Corp. (NYSE: HHC) were down 17.67% to $105.69.

Hasbro, Inc. (NASDAQ: HAS) was down, falling 16.17% to $100.73.

Commodities

In commodity news, oil traded up 1.73% to $54.23, while gold traded down 0.05% to $1,487.30.

Silver traded down 0.74% Tuesday to $17.48, while copper fell 0.23% to $2.64.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.09%, Italy's FTSE MIB Index climbed 0.04%. Meanwhile, the German DAX gained 0.05%, and the French CAC 40 rose 0.17%, UK shares were up 0.68%, while the Spanish Ibex Index fell 0.24%.

Economics

Dallas Federal Reserve Bank President Robert Kaplan will deliver a speech at 10:30 p.m. ET.

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

 

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