Skip to main content

Market Overview

Mid-Morning Market Update: Markets Open Lower; PepsiCo Tops Q4 Views


Following the market opening Thursday, the Dow traded down 0.5% to 29403.49 while the NASDAQ fell 0.36% to 9691.30. The S&P also fell, dropping 0.33% to 3,368.18.

Leading and Lagging Sectors

Real estate shares climbed 0.3% on Thursday. Meanwhile, top gainers in the sector included Redfin Corporation (NASDAQ: RDFN), up 12%, and Iron Mountain Incorporated (NYSE: IRM), up 5%.

In trading on Thursday, industrial shares fell 0.7%.

Top Headline

PepsiCo, Inc. (NASDAQ: PEP) reported stronger-than-expected results for its fourth quarter.

PepsiCo reported fourth-quarter EPS at $1.45, which beat the analyst consensus estimate of $1.44. The company reported revenue at $20.64 billion, which beat the analyst consensus estimate of $20.27 billion.

PepsiCo said it projects 2020 adjusted EPS growth of 7% and organic revenue growth of 4%. The company also announced plans to lift its dividend by 7% to $4.09 per share.

Equities Trading UP

CounterPath Corporation (NASDAQ: CPAH) shares shot up 34% to $2.8799 after the company announced it has secured a 5-year deal with Vodafone Fiji to extend superior quality voice services to consumers.

Shares of Exterran Corporation (NYSE: EXTN) got a boost, shooting 22% to $5.61 after the company issued Q4 operational update. Exterran expects Q4 preliminary sales of $265 million to $275 million.

Alpha Pro Tech, Ltd. (NYSE: APT) shares were also up, gaining 17% to $5.55 as new Coronavirus cases in China spike. The company said it has booked $10.4 million in orders for its N-95 face mask as a result of the outbreak.

Equities Trading DOWN

Agile Therapeutics, Inc. (NASDAQ: AGRX) shares tumbled 33% to $2.88.

Shares of Marchex, Inc. (NASDAQ: MCHX) were down 24% to $3.0783 after the company reported Q4 results.

NeuroBo Pharmaceuticals, Inc. (NASDAQ: NRBO) was down, falling 32% to $20.50.


In commodity news, oil traded down 0.5% to $50.94, while gold traded up 0.4% to $1,577.30.

Silver traded up 0.7% Thursday to $17.61, while copper fell 0.3% to $2.5935.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 slipped 0.7%, the Spanish Ibex Index fell 1.1%, while Italy’s FTSE MIB Index declined 0.6% Meanwhile, the German DAX dropped 0.6%, and the French CAC 40 fell 0.8% while UK shares fell 1.6%.


The consumer price index increased 0.1% in January, versus economists’ expectations for a 0.1% increase.

Initial jobless claims increased 2,000 to 205,000 in the latest week. However, analysts were expecting a reading of 210,000.

The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.

The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.

Dallas Fed President Robert Kaplan is set to speak at 12:45 p.m. ET.

Federal Reserve Bank of New York President John Williams will speak at 5:30 p.m. ET.

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


Related Articles (APT + AGRX)

View Comments and Join the Discussion!

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

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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
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