Market Overview

Mid-Day Market Update: Amkor Technology Surges On Upbeat Q4 Results; Phio Pharmaceuticals Shares Plummet

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Midway through trading Tuesday, the Dow traded up 0.19% to 29,333.28 while the NASDAQ rose 0.8% to 9,705.16. The S&P also rose, gaining 0.54% to 3,370.08.

Leading and Lagging Sectors

Real estate shares climbed 1.2% on Tuesday. Meanwhile, top gainers in the sector included SBA Communications Corporation (NASDAQ: SBAC), up 8%, and Uniti Group Inc (NASDAQ: UNIT), up 8%.

In trading on Tuesday, consumer staples shares fell 0.3%.

Top Headline

Hasbro, Inc. (NASDAQ: HAS) reported stronger-than-expected earnings for its fourth quarter, while sales missed views.

Hasbro reported quarterly earnings of $1.24 per share, which beat the analyst consensus estimate of $0.91. The company reported quarterly sales of $1.428 billion, which missed the analyst consensus estimate of $1.44 billion.

Equities Trading UP

Sprint Corporation (NYSE: S) shares shot up 70% to $8.18 following a report suggesting a US judge is expected to rule in favor of the company's proposed T-Mobile merger.

Shares of Amkor Technology, Inc. (NASDAQ: AMKR) got a boost, shooting 19% to $13.74 after the company reported better-than-expected Q4 EPS and sales results. The company also issued Q1 EPS and sales guidance above estimates.

Rexahn Pharmaceuticals, Inc. (NASDAQ: REXN) shares were also up, gaining 78% to $3.66 after the company announced a license agreement with Zhejiang HaiChang Biotechnology.

Equities Trading DOWN

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) shares tumbled 51% to $3.2701 after the company priced 2 million share offering at $4 per unit.

Shares of Myomo, Inc. (NYSE: MYO) were down 45% to $6.43 after the company announced pricing of public offering of common stock and warrants.

YayYo, Inc. (NASDAQ: YAYO) was down, falling 69% to $0.3340 after the company announced it will voluntarily delist its common stock from the NASDAQ Capital Markets.

Commodities

In commodity news, oil traded up 1.7% to $50.42, while gold traded down 0.7% to $1,567.80.

Silver traded down 0.8% Tuesday to $17.64, while copper rose 1.7% to $2.594.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 1.01%, the Spanish Ibex Index rose 0.66%, while Italy’s FTSE MIB Index rose 0.92% Meanwhile, the German DAX gained 1.28%, and the French CAC 40 rose 0.7% while UK shares rose 0.88%.

Economics

The NFIB small business optimism index climbed to 104.3 in January, versus a reading of 102.7 in December.

The Johnson Redbook Retail Sales Index fell 0.7% during the first week of February versus January.

The number of job openings declined 364,000 to 6.423 million for December, versus a revised reading of 6.787 million in the prior month, according to the Labor Department.

The Treasury is set to auction 3-year notes at 1:00 p.m. ET.

Federal Reserve Bank of St. Louis President James Bullard will speak at 1:30 p.m. ET.

Federal Reserve Bank of Minneapolis President Neel Kashkari is set to speak at 2:15 p.m. ET.

 

Related Articles (AMKR + HAS)

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