Market Overview

Mid-Day Market Update: Nasdaq Edges Higher; Nano Dimension Shares Plunge

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Midway through trading Friday, the Dow traded down 0.43% to 29,355.69 while the NASDAQ rose 0.14% to 11,921.21. The S&P also fell, dropping 0.24% to 3,573.32.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 11,718,860 cases with around 252,560 deaths. India confirmed a total of at least 9,004,360 confirmed cases and 132,160 deaths, while Brazil reported over 5,981,760 COVID-19 cases with 168,060 deaths. In total, there were at least 57,011,970 cases of COVID-19 worldwide with over 1,362,420 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Consumer discretionary shares rose 0.1% on Friday. Meanwhile, top gainers in the sector included Ayro, Inc. (NASDAQ: AYRO), up 50%, and Tuniu Corp (NASDAQ: TOUR), up 22%.

In trading on Friday, financial shares fell 0.9%.

Top Headline

Foot Locker, Inc (NYSE: FL) reported better-than-expected results for its third quarter.

Foot Locker posted quarterly earnings of $1.21 per share, beating analysts’ estimates of $0.62 per share. The company posted quarterly sales of $2.11 billion, surpassing expectations of $1.94 billion.

 

 

Equities Trading UP

Mesoblast Limited (NASDAQ: MESO) shares shot up 20% to $14.09 after the company reported Q1 results, and disclosed a license and collaboration deal with Novartis.

Shares of Dada Nexus Limited (NYSE: DADA) got a boost, shooting 25% to $42.13 after the company reported better-than-expected Q3 earnings

Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) shares were also up, gaining 20% to $13.84 after the company reported Q4 results and also declared a $2 per share special dividend.

 

Equities Trading DOWN

Tantech Holdings Ltd (NASDAQ: TANH) shares tumbled 55% to $1.2550 after the company priced its 6.06 million shares common stock offering at $1.65 per share..

Shares of Nano Dimension Ltd - ADR (NASDAQ: NNDM) were down 27% to $4.2550 after the company priced a $100 million direct offering of 25 million shares at $4 per ADS.

Oragenics, Inc. (NYSE: OGEN) was down, falling 26% to $0.3915 after the company priced its 14.189 million shares common stock offering at $0.37 per share.

Commodities

In commodity news, oil traded up 0.3% to $41.88, while gold traded up 0.8% to $1,875.80.

Silver traded up 1.7% Friday to $24.45 while copper rose 2.8% to $3.29.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.3%, the Spanish Ibex Index rose 0.69%, while Italy’s FTSE MIB Index climbed 0.73%. Meanwhile, the German DAX 30 gained 0.23%, French CAC 40 rose 0.23% and London’s FTSE 100 rose 0.04%.

Retail sales in the UK rose 1.2% in October, while German producer prices fell 0.7% year-over-year last month.

Economics

The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

 

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