Mid-Morning Market Update: Markets Move Higher; Twitter Tumbles On Missed Q3 Earnings

Following the market opening Thursday, the Dow traded up 0.3% to 26833.9, while the NASDAQ rose 0.8% to 8119.8. The S&P also rose, gaining 0.3% to 3004.5.
 

Leading and Lagging Sectors

Technology shares climbed 0.9% on Thursday. Meanwhile, top gainers in the sector included Align Technology, Inc. ALGN, up 12.3%, and Coupa Software Inc COUP, up 10.0%.

In trading on Thursday, Industrial shares were down 0.5%.
 

Top Headline
Twitter Inc TWTR shares tumbling after the company reported disappointing third quarter revenue and earnings.

Twitter’s stock slipped 17.9% in pre-market trading, with the company reported revenue of $823.7 million, missing consensus expectations of $874.0 million, and earnings of 17 cents per share, short of the Street estimate of 20 cents per share.
 

Equities Trading UP
DASAN Zhone Solutions Inc. DZSI shares rose 39.6% to $10.47 in pre-market trading.

Shares of Cellect Biotechnology Ltd. APOP climbed 37.0% to $3.70 in pre-market trading, after a 1:5 reverse split of its American Depositary Shares.
 

CIM Commercial Trust Corp. CMCT shares spiked 32.3% to $19.29 in pre-market trading, after the company announced a cash tender offer to purchase up to one‑third of its outstanding shares of Series L preferred stock at $29.12 per share.
 

Equities Trading DOWN
Nokia Oyj. NOK shares fell 21.1% to $4.03 in pre-market trading, after the company lowered its guidance for 2019 and 2020, citing digitization pressures and 5G investments.
 

TherapeuticsMD, Inc. TXMD shares were down 19.0% to $2.98 in pre-market trading, after the company preannounced its third-quarter earnings.
 

Twitter, Inc. TWTR shares slid 17.9% to $31.88 in pre-market trading, after the company reported its third quarter revenue and earnings short of expectations.
 

Commodities

In commodity news, oil traded up 0.7% to $56.38, while gold traded up 0.6% to $1504.00.

Silver traded up 1.3% Thursday to $17.81, while copper traded down 0.3% to $2.664.
 

Euro zone

European shares were trading higher today. The Eurozone’s STOXX 600 was up 0.5%, the Spanish Ibex Index rose 0.1%, while Italy’s FTSE MIB Index rose 0.7%. Meanwhile, the German DAX gained 0.5%, and the French CAC 40 was up 0.3% while UK shares climbed 1.0%.
 

Economics

New York Federal Reserve President John Williams will deliver a speech at 06:00 p.m. ET.