Skip to main content

Market Overview

Mid-Day Market Update: NASDAQ Turns Negative; Bed Bath & Beyond Shares Plunge


Midway through trading Thursday, the Dow traded down 1.89% to 25573.70 while the NASDAQ fell 0.79% to 10,409.73. The S&P also fell, dropping 1.50% to 3,122.45.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 3,055,140 cases with around 132,300 deaths. Brazil confirmed a total of over 1,713,160 COVID-19 cases with 67,960 deaths, while India reported a total of at least 767,290 confirmed cases and 21,120 deaths. In total, there were at least 12,062,860 cases of COVID-19 worldwide with over 549,900 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Information technology shares slipped by just 0.6% on Thursday. Meanwhile, top gainers in the sector included Veritone Inc (NASDAQ: VERI), up 20%, and Exfo Inc (NASDAQ: EXFO), up 9%.

In trading on Thursday, energy shares fell 3.9%.

Top Headline

Walgreens Boots Alliance Inc (NASDAQ: WBA) reported weaker-than-expected earnings for its third quarter, while sales exceeded views.

Walgreens reported quarterly earnings of $0.83 per share, missing analysts’ estimates of $1.18 per share. The company reported sales of $34.60 billion, exceeding expectations of $34.32 billion.

Walgreens said it expects FY20 adjusted earnings of $4.65 to $4.75 per share, versus analysts’ estimates of $5.42 per share.

Equities Trading UP

Document Security Systems, Inc. (NYSE: DSS) shares shot up 26% to $8.15. The company's target acquisition unit, Impact Biomedical, published results from in-vitro testing of two proprietary compounds plus 3F Biofragrance that demonstrated successful surface disinfecting.

Shares of CynergisTek, Inc. (NYSE: CTEK) got a boost, shooting 28% to $2.17 after the company announced it secured roughly $950,000 in renewals.

Birks Group Inc. (NYSE: BGI) shares were also up, gaining 69% to $1.3499 after the company reported a 12.2% year-over-year growth in FY20 sales.

Equities Trading DOWN

Bed Bath & Beyond Inc. (NASDAQ: BBBY) shares tumbled 24% to $7.93 after the company reported a wider-than-expected loss for its first quarter and announced plans to close 200 stores in the next two year.

Shares of NanoViricides, Inc. (NYSE: NNVC) were down 10% to $7.88. NanoViricides priced its 1.37 million share offering at $7.30 per share.

AZZ Inc. (NYSE: AZZ) was down, falling 12% to $29.05 after the company reported a significant year-over-year decline in Q1 earnings.


In commodity news, oil traded down 3.1% to $39.65, while gold traded down 0.8% to $1,805.90.

Silver traded down 1% Thursday to $18.975, while copper rose 0.5% to $2.8375.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.81%, the Spanish Ibex Index fell 1.1%, while Italy’s FTSE MIB Index fell 1.66%. Meanwhile, the German DAX 30 dropped 0.15%, French CAC 40 slipped 1.16% and UK shares fell 1.7%.


U.S. initial jobless claims declined to 1.314 million for the latest week, versus prior reading of 1.427 million. However, analysts were expecting a reading of 1.375 million.

U.S. wholesale inventories rose 5.4% for May, versus analysts’ expectations for a 4% decline.

Domestic supplies of natural gas climbed 56 billion cubic feet for the week ended July 3, the U.S. Energy Information Administration reported. However, analysts were projecting a rise of 55 billion cubic feet.

The Treasury is set to auction 30-year bonds at 1:00 p.m. ET.

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


Related Articles (BBBY + AZZ)

View Comments and Join the Discussion!

Posted-In: Earnings News Penny Stocks 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