Market Overview

Mid-Afternoon Market Update: Oil Prices Hover At One-Month High; Technology Stocks Spike Higher

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Toward the end of trading Thursday, the Dow traded fell 0.3% to 26,749.60, while the NASDAQ rose 0.5% to 8,161.83. The S&P also slid, down 0.1% to 3,003.33.

Leading and Lagging Sectors

Information Technology shares climbed 1.2% on Thursday. Meanwhile, top gainers in the sector included Align Technology, Inc. (NASDAQ: ALGN), up 12.3%, and Coupa Software Inc (NASDAQ: COUP), up 10.0%.

In trading on Thursday, Communication Services shares fell 1.0%.

Top Headline

Twitter Inc (NYSE: TWTR) shares tumbling after the company reported disappointing third quarter revenue and earnings.

Twitter's stock slipped 17.9% in pre-market trading, after 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. (NASDAQ: DZSI) shares rose 39.6% to $10.47 in pre-market trading.

Shares of Cellect Biotechnology Ltd. (NASDAQ: 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. (NASDAQ: 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. (NYSE: 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. (NASDAQ: TXMD) shares were down 19.0% to $2.98 in pre-market trading, after the company preannounced its third-quarter earnings.

Twitter, Inc. (NYSE: 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 rose 0.6% to $1,504.70.

Silver traded up 1.3% Tuesday to $17.81, while copper fell 0.2% to $2.67.

Euro zone

European shares were up today. The Eurozone's STOXX 600 was up 0.5%, the Spanish Ibex Index rose 0.1%, while Italy's FTSE MIB Index rose 0.8%. Meanwhile, the German DAX gained 0.6%, and the French CAC 40 was up 0.4% while UK shares climbed 0.9%.

Economics

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

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

 

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