Skip to main content

Market Overview

Mid-Morning Market Update: Markets Mostly Flat; General Electric Earnings Top Expectations


Following the market opening Wednesday, the Dow traded up 0.04% to 27,082.71 while the NASDAQ fell 0.05% to 8272.60. The S&P also fell, dropping 0.06% to 3,035.17.

Leading and Lagging Sectors

Utilities shares climbed 0.5% on Wednesday. Meanwhile, top gainers in the sector included PG&E Corporation (NYSE: PCG), up 17%, and MDU Resources Group, Inc. (NYSE: MDU), up 4%.

In trading on Wednesday, energy shares fell 0.7%.

Top Headline

General Electric Company (NYSE: GE) reported better-than-expected earnings for its third quarter.

The company reported EPS at 15 cents per share, which beat the analyst consensus estimate of 11 cents. Sales came in at $23.36 billion, ahead of the $22.93 billion estimate.

Equities Trading UP

Big 5 Sporting Goods Corporation (NASDAQ: BGFV) shares shot up 2% to $3.1099 after reporting a third-quarter earnings beat. The company also issued strong 2019 earnings guidance.

Shares of Mattel, Inc. (NASDAQ: MAT) surged 19% to $12.58 after the company reported better-than-expected earnings for its third quarter. The company also announced its CFO search.

PG&E Corporation (NYSE: PCG) shares gained 20% to $6.04 after the company confirmed that it has restored power to nearly 73% of the 973,000 customers impacted by the Oct. 26 Public Safety Power Shutoff.

Equities Trading DOWN

Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) shares tumbled 79% to $2.835 after the company reported its Phase 2 study of praliciguat in diabetic nephropathy did not reach statistical significance on its primary endpoint.

Shares of Quad/Graphics, Inc. (NYSE: QUAD) were down 48% to $5.86 after the company reported Q3 results and lowered its FY19 net sales guidance.

Tupperware Brands Corporation (NYSE: TUP) was down, falling 31% to $10.77 after the company reported downbeat Q3 results.


In commodity news, oil traded down 0.4% to $55.34, while gold traded up 0.3% to $1,495.40.

Silver traded up 0.3% Wednesday to $17.875, while copper fell 0.4% to $2.6815.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.1%, the Spanish Ibex Index fell 1.3%, while Italy's FTSE MIB Index gained 0.1%. Meanwhile, the German DAX dropped 0.2%, and the French CAC 40 rose 0.3% while UK shares fell 0.1%


Payroll processor ADP reported that 125,000 private-sector jobs were created in October,.

The U.S. economy expanded at an annual pace of 1.9% in the third quarter.

The Energy Information Administration's weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

The FOMC will announce its policy decision at 2:00 p.m. ET, while Fed Chairman Jerome Powell will hold press briefing at 2:30 p.m. ET.


Related Articles (BGFV + CYCN)

View Comments and Join the Discussion!

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

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at