Skip to main content

Market Overview

Mid-Day Market Update: Crude Oil Down 4%; 500.com Shares Spike Higher

Share:

Midway through trading Monday, the Dow traded down 0.51% to 30,026.31 while the NASDAQ fell 0.89% to 12,642.15. The S&P also fell, dropping 1.08% to 3,669.44.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 17,847,630 cases with around 317,680 deaths. India confirmed a total of at least 10,055,560 confirmed cases and 145,810 deaths, while Brazil reported over 7,238,600 COVID-19 cases with 186,760 deaths. In total, there were at least 76,895,580 cases of COVID-19 worldwide with over 1,694,710 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Financial shares climbed 0.6% on Monday. Meanwhile, top gainers in the sector included Silvergate Capital Corporation (NYSE: SI), up 20%, and Elevate Credit, Inc. (NYSE: ELVT), up 17%.

In trading on Monday, energy shares dipped 2.3%.

Top Headline

FactSet Research Systems Inc. (NYSE: FDS) reported stronger-than-expected earnings for its first quarter.

FactSet Research posted quarterly earnings of $2.88 per share, beating analysts’ estimates of $2.75 per share. The company’s quarterly sales came in at $388.21 million, versus expectations of $387.36 million.

 

Equities Trading UP

500.com Limited (NYSE: WBAI) shares shot up 76% to $4.74 after the company announced a $23 million investment from Good Luck Information Technology. The company appointed Mr. Xianfeng Yang as CEO and Mr. Bo Yu as COO.

Shares of EyeGate Pharmaceuticals, Inc. (NASDAQ: EYEG) got a boost, shooting 48% to $5.30 after the company announced the acquisition of privately-held Panoptes Pharma, which is developing a small molecule for the treatment of severe eye diseases with a high unmet medical need.

NantKwest, Inc. (NASDAQ: NK) shares were also up, gaining 40% to $14.36. ImmunityBio and NantKwest agreed to Merge, creating a leading immunotherapy and cell therapy company.

Equities Trading DOWN

Optical Cable Corporation (NASDAQ: OCC) shares tumbled 15% to $2.52 after the company posted a loss for its fourth quarter.

Shares of FibroGen, Inc. (NASDAQ: FGEN) were down 14% to $37.94. FibroGen, on Dec. 18, disclosed that the FDA has extended review period of new drug application for roxadustat for the treatment of anemia of chronic kidney disease by three months.

uniQure N.V.. (NASDAQ: QURE) was down, falling 16% to $38.62 after the gene therapy company announced a setback to its clinical study. uniQure said the FDA has placed its Hemophilia B gene therapy program, including the late-stage HOPE-B study, on clinical hold.

Commodities

In commodity news, oil traded down 4.1% to $47.09, while gold traded down 0.3% to $1,884.10.

Silver traded up 1.3% Monday to $26.375 while copper fell 1.9% to $3.5650.

Euro zone

European shares were lower today following new virus strains in the U.K. and deadlock in Brexit trade talks. The eurozone’s STOXX 600 fell 2.22%, the Spanish Ibex Index fell 2.78%, while Italy’s FTSE MIB Index declined 2.43%. Meanwhile, the German DAX 30 declined 2.63%, French CAC 40 declined 2.34% and London’s FTSE 100 fell 1.59%.

Economics

The Chicago Fed National Activity Index declined to 0.27 in November versus a revised reading of 1.01 in October.

The Treasury will auction 20-year bonds at 1:00 p.m. ET.

 

Related Articles (EYEG + ELVT)

View Comments and Join the Discussion!

Posted-In: Earnings News Penny Stocks Eurozone Commodities Small Cap Global Intraday Update

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.
SPAC
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 vipaccounts@benzinga.com