Market Overview

Mid-Day Market Update: U.S. Stocks Turn Negative; Sonoma Pharmaceuticals Shares Surge

Share:

Midway through trading Friday, the Dow traded down 0.18% to 29,106.59 while the NASDAQ fell 0.18% to 9,385.49. The S&P also fell, dropping 0.42% to 3,311.65.

Leading and Lagging Sectors

Information technology shares climbed 0.6% on Friday. Meanwhile, top gainers in the sector included Casa Systems Inc (NASDAQ: CASA), up 23%, and Atlassian Corporation PLC (NASDAQ: TEAM), up 11%.

In trading on Friday, health care shares fell 1.3%.

Top Headline

American Express Company (NYSE: AXP) reported better-than-expected results for its fourth quarter on Friday.

American Express reported fourth-quarter earnings of $2.03 per share, which beat the analyst consensus estimate of $2.01. The company reported quarterly sales of $11.365 billion, which beat the analyst consensus estimate of $11.36 billion.

 

Equities Trading UP

SAExploration Holdings Inc (NASDAQ: SAEX) shares shot up 33% to $3.01 after the company announced two new projects in offshore West Africa valued at $42 million. The company also announced it has reduced its debt by $14.5 million.

Shares of Sonoma Pharmaceuticals Inc (NASDAQ: SNOA) got a boost, shooting up 28% to $6.25. Sonoma Pharmaceuticals commenced a process to explore and evaluate strategic alternatives for its U.S. Dermatology Division. Maxim Group has been engaged to assist in this process, the company added.

eHealth, Inc. (NASDAQ: EHTH) shares were also up, gaining 32% to $127.99 after Cantor Fitzgerald analysts reiterated an Overweight rating on the stock and raised the price target from $120 to $150.

Equities Trading DOWN

SenesTech Inc (NASDAQ: SNES) shares tumbled 20% to $0.36. SenesTech priced its 3.55 million share common stock offering at $0.40 per share.

Shares of CHF Solutions Inc (NASDAQ: CHFS) were down 39% to $0.49 after the company priced a 3.755 million unit offering at $0.55 per unit.

ToughBuilt Industries, Inc. (NASDAQ: TBLT) was down, falling 43% to $0.16 after the company reported pricing of upsized $9.0 million underwritten public offering.

 

Commodities

In commodity news, oil traded down 2.6% to $54.15, while gold traded up 0.3% to $1,570.50.

Silver traded up 1.2% Friday to $18.04, while copper fell 1.4% to $2.6875.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 1.03%, the Spanish Ibex Index rose 0.64%, while Italy’s FTSE MIB Index climbed 1.15%. Meanwhile, the German DAX gained 1.53%, and the French CAC 40 rose 1% while UK shares rose 1.14%.

Economics

The IHS Markit Composite PMI climbed to 53.1 in January, versus a reading of 52.7 in the prior month. The IHS Markit services PMI surged to 53.2 in January versus 52.8 in the prior month.

The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

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

 

Related Articles (CASA + AXP)

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 vipaccounts@benzinga.com