Market Overview

Mid-Day Market Update: Markets Down; Procter & Gamble Reports Mixed Q2 Results


Midway through trading Thursday, the Dow traded down 0.56% to 29,023.07 while the NASDAQ fell 0.14% to 9,370.32. The S&P also fell, dropping 0.38% to 3,309.20.

Leading and Lagging Sectors

Real estate shares climbed 0.6% on Thursday. Meanwhile, top gainers in the sector included Rafael Holdings, Inc. (NYSE: RFL), up 9%, and Innovative Industrial Properties, Inc. (NYSE: IIPR), up 3%.

In trading on Thursday, health care shares fell 1.2%.

Top Headline

Procter & Gamble (NYSE: PG) reported better-than-expected earnings for its second quarter, while sales missed estimates.

Procter & Gamble reported second-quarter earnings of $1.42 per share on Thursday, which beat the analyst consensus estimate of $1.37. The company reported quarterly sales of $18.24 billion, which missed the analyst consensus estimate of $18.35 billion.

Equities Trading UP

Trans World Entertainment Corporation (NASDAQ: TWMC) shares shot up 222% to $7.35 after the company reported a deal to sell FYE Segment for $10 million in cash.

Shares of NanoViricides, Inc. (NYSE: NNVC) got a boost, shooting up 35% to $5.14 following an outbreak of the Wuhan coronavirus in China, which has now reportedly spread to the US. The company operates in the viral diseases space.

Kaleido BioSciences, Inc. (NASDAQ: KLDO) shares were also up, gaining 28% to $7.34.

Equities Trading DOWN

Tetraphase Pharmaceuticals, Inc. (NASDAQ: TTPH) shares tumbled 32% to $2.62 after the company reported $17.5 million of financings priced at-the-market.

Shares of Applied Genetic Technologies Corporation (NASDAQ: AGTC) were down 26% to $7.33 despite the company reporting encouraging results from an Phase 1/2 study. The Cambridge, Massachusetts-based company released interim results from the dose-escalation cohorts of its ongoing Phase 1/2 clinical studies that evaluated its AAV-based gene therapy in patients with achromatopsia resulting from mutations in the ACHM CNGB3 or ACHM CNGA3 genes, which showed encouraging signs of biologic activity and a favorable safety profile, with no dose-limiting inflammatory responses observed.

FuelCell Energy, Inc. (NASDAQ: FCEL) was down, falling 21% to $1.75 after the company reported worse-than-expected Q4 earnings results on Wednesday. Craig-Hallum also downgraded the stock from Hold to Sell and announced a price target of $1.5 per share.



In commodity news, oil traded down 2.5% to $55.31, while gold traded up 0.4% to $1,562.90.

Silver traded down 0.2% Thursday to $17.785, while copper fell 1.8% to $2.716.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.7%, the Spanish Ibex Index fell 0.5%, while Italy’s FTSE MIB Index gained 0.1%. Meanwhile, the German DAX dropped 0.8%, and the French CAC 40 fell 0.6% while UK shares fell 0.9%.


Initial jobless claims rose 6,000 to 211,000 in the latest week.

U.S. leading economic indicators fell 0.3% in December.

U.S. crude supplies dropped 400,000 barrels for the week ended January 17, the Energy Information Administration reported. Analysts projected a gain of 500,000 barrels.

Domestic supplies of natural gas declined 92 billion cubic feet for the week ended January 17, the Energy Information Administration reported.

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


Related Articles (FCEL + AGTC)

View Comments and Join the Discussion!
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.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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