Market Overview

Mid-Afternoon Market Update: Dow Rises Over 100 Points; Glu Mobile Shares Spike Higher


Toward the end of trading Thursday, the Dow traded up 0.37% to 29400.50 while the NASDAQ rose 0.62% to 9,567.32. The S&P also rose, gaining 0.35% to 3,346.47.

Leading and Lagging Sectors

Communication services shares climbed 1.1% on Thursday. Meanwhile, top gainers in the sector included Glu Mobile Inc. (NASDAQ: GLUU), up 26%, and Twitter Inc (NYSE: TWTR), up 18%.

In trading on Thursday, energy shares fell 0.8%.

Top Headline

Twitter Inc (NYSE: TWTR) reported weaker-than-expected earnings for its fourth quarter, while sales exceeded estimates.

Twitter reported quarterly earnings of $0.25 per share, which missed the analyst consensus estimate of $0.29 per share. The company reported quarterly sales of $1.01 billion, which exceeded the analyst consensus estimate of $996.74 million.

Twitter reported advertising revenue totaled $885 million, an increase of 12% year-over-year. The company also reported fourth-quarter average monetizable daily active users were 152 million, compared to 126 million in the same period of the previous year and compared to 145 million in the previous quarter. Twitter sees first-quarter operating income at $0-$30 million and sales $825 million-$885 million.

Equities Trading UP

JanOne Inc. (NASDAQ: JAN) shares shot up 29% to $4.0140 on continued momentum after the company announced manufacturing agreement for TV1001SR in peripheral artery disease.

Shares of Unisys Corporation (NYSE: UIS) got a boost, shooting 46% to $16.15 after the company announced it will sell its US Federal Business to SAIC for $1.2 billion.

Glu Mobile Inc. (NASDAQ: GLUU) shares were also up, gaining 26% to $8.14 after the company reported better-than-expected Q4 sales results. Following earnings, multiple firms maintained bullish ratings and raised their price targets on the stock.

Equities Trading DOWN

GasLog Partners LP (NYSE: GLOP) shares tumbled 49% to $5.24 after the company reported worse-than-expected Q4 EPS and sales results.

Shares of Rewalk Robotics Ltd (NASDAQ: RWLK) were down 37% to $0.9311. Rewalk Robotics priced public offering of 5.6 million units at $1.25 per unit.

Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) was down, falling 47% to $0.9012. Tonix Pharmaceuticals said it has decided to stop enrollment in the Phase 3 study dubbed RECOVERY that evaluated its Tonmya 5.6mg in treating post-traumatic stress disorder, following interim analysis of data by the Independent Data Monitoring Committee.


In commodity news, oil traded up 0.02% to $50.76, while gold traded up 0.5% to $1,569.80.

Silver traded up 1.2% Thursday to $17.82, while copper rose 0.7% to $2.592.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 gained 0.44%, the Spanish Ibex Index rose 0.96%, while Italy’s FTSE MIB Index rose 1.05% Meanwhile, the German DAX gained 0.72%, and the French CAC 40 rose 0.88% while UK shares rose 0.3%.


U.S. initial jobless claims dropped 15,000 to 202,000 in the week ending February 1. However, economists were expecting a 215,000 reading.

U.S. nonfarm productivity increased an annualized 1.4% in the fourth quarter, versus a 0.2% drop in the prior three-month period. Unit labor costs increased an annualized 1.4% in the quarter.

Domestic supplies of natural gas dropped 137 billion cubic feet for the week ended January 31, the U.S. Energy Information Administration reported. However, analysts expected a fall of 126 billion cubic feet.

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

Federal Reserve Governor Randal Quarles will speak at 7:15 p.m. ET.


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