Market Overview

Mid-Day Market Update: Crude Oil Up Over 1%; Tonix Pharmaceuticals Shares Spike Higher

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Midway through trading Thursday, the Dow traded up 0.72% to 28112.00 while the NASDAQ rose 0.75% to 8,718.73. The S&P also rose, gaining 0.77% to 3,165.69.

Leading and Lagging Sectors

Energy shares climbed 1.8% on Thursday. Meanwhile, top gainers in the sector included Oceaneering International (NYSE: OII), up 8%, and Antero Resources Corp (NYSE: AR), up 10%.

In trading on Thursday, real estate shares fell 0.6%.

Top Headline

Ciena Corporation (NYSE: CIEN) reported weaker-than-expected earnings for its fourth quarter, while sales exceeded estimates.

CIENA posted quarterly earnings of $0.58 per share, missing analysts’ estimates of $0.63 per share. Its sales came in at $968 million, versus expectations of $964.29 million.

Equities Trading UP

Diebold Nixdorf, Incorporated (NYSE: DBD) shares shot up 26% to $9.73 after the company reaffirmed FY19 guidance and issued FY20 guidance.

Shares of Amneal Pharmaceuticals, Inc. (NYSE: AMRX) got a boost, shooting up 39% to $4.8503 after the company announced it has received abbreviated new drug application approval from the FDA for EluRyng.

Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) shares were also up, gaining 33% to $1.2873 after announcing a new European patent for composition and formulation of TNX-102 SL. The patent will provide the company with market exclusivity until 2034.

Equities Trading DOWN

RiceBran Technologies (NASDAQ: RIBT) shares tumbled 29% to $1.4750 after the company announced a proposed public offering of common stock.

Shares of Camber Energy, Inc. (NYSE: CEI) were down 24% to $1.55 as a potential sell-off after the stock increased roughly 260% over the last 2 trading sessions.

Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN) was down, falling 27% to $0.4156 after the company announced it has received a notice from Nasdaq indicating the company is not in compliance with the $1 minimum bid price rule.

Commodities

In commodity news, oil traded up 1.1% to $59.42, while gold traded down 0.3% to $1,470.50.

Silver traded up 0.3% Thursday to $16.90, while copper rose 0.3% to $2.7985.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.66%, the Spanish Ibex Index rose 1.14%, while Italy’s FTSE MIB Index rose 1.3%. Meanwhile, the German DAX gained 0.94%, and the French CAC 40 rose 0.81% while UK shares rose 1.13%.

Economics

Initial jobless claims rose 49,000 to 252,000 for the latest week.

The Producer Price Index was flat for November, versus economists’ expectations for a 0.2% rise.

Domestic supplies of natural gas dropped 73 billion cubic feet for the week ended December 6, the U.S. Energy Information Administration reported. However, analysts projected a decline of 74 billion cubic feet.

Data on money supply for the recent week will be released at 4:30 p.m. ET.

 

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