Skip to main content

Market Overview

Mid-Afternoon Market Update: Dow Surges Over 800 Points; Amyris Shares Slide


Toward the end of trading Friday, the Dow traded up 3.84% to 22,013.72 while the NASDAQ rose 3.32% to 7,440.54. The S&P also rose, gaining 3.69% to 2,572.16. South Korea confirmed a total of over 7,900 coronavirus cases, while Italy reported a total of at least 17,000 confirmed cases and 1,200 deaths. Mainland China reported 8 additional confirmed cases with 7 new deaths. In total, there are at least 137,000 cases of COVID-19 worldwide with over 5,000 deaths.

Leading and Lagging Sectors

Financial shares climbed 6.8% on Friday. Meanwhile, top gainers in the sector included Level One Bancorp, Inc. (NASDAQ: LEVL), up 34%, and Green Dot Corporation (NASDAQ: GDOT), up 31%.

In trading on Friday, utilities shares rose by just 0.6%.

Top Headline

Jabil Inc (NYSE: JBL) reported weaker-than-expected results for its second quarter.

Jabil posted quarterly earnings of $0.50 per share, missing analysts’ estimates of $0.64 per share. Its sales came in at $6.1 billion, versus expectations of $6.16 billion.

Equities Trading UP

Citi Trends, Inc. (NASDAQ: CTRN) shares shot up 31% to $15.96 after the company reported Q4 results.

Shares of CorePoint Lodging Inc. (NYSE: CPLG) got a boost, shooting 25% to $4.2547 after the company reported results for its fourth quarter.

OPKO Health, Inc. (NASDAQ: OPK) shares were also up, gaining 33% to $1.8950 following a 15% decline Thursday. New York Governor Cuomo said the State is contracting with the company's BioReference Laboratories unit to run 5,000 tests per day for coronavirus. Additionally, the company announced its BioReference Labs is now accepting specimens for testing coronavirus from healthcare providers throughout the US.

Equities Trading DOWN

Bellicum Pharmaceuticals, Inc. (NASDAQ: BLCM) shares tumbled 25% to $4.43 after reporting Q4 results.

Shares of Amyris, Inc. (NASDAQ: AMRS) were down 30% to $1.8750 after the company reported worse-than-expected Q4 results.

Inovio Pharmaceuticals, Inc. (NASDAQ: INO) was down, falling 23% to $7.28 after the company reported worse-than-expected Q4 results. Piper Sandler downgraded Inovio Pharmaceuticals from Overweight to Neutral.


In commodity news, oil traded up 2.4% to $32.27, while gold traded down 0.9% to $1,576.40.

Silver traded down 9.3% Friday to $14.52, while copper fell 1.2% to $2.442.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 1.43% the Spanish Ibex Index rose 3.73%, while Italy’s FTSE MIB Index rose 7.12% Meanwhile, the German DAX gained 0.77%, and the French CAC 40 rose 1.83% while UK shares rose 2.46%.


US import prices fell 0.5% in February, versus a revised 0.1% rise in January. Export prices declined 1.1% in February.

The University of Michigan's consumer sentiment index declined to 95.9 in March, versus a reading of 101 in the prior month.

The total number of active U.S. oil rigs rose by 1 to 683 rigs this week, Baker Hughes Inc reported.


Related Articles (AMRS + BLCM)

View Comments and Join the Discussion!

Posted-In: Mid-Afternoon 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