Market Overview

Mid-Day Market Update: Volt Information Sciences Drops After Q4 Results; Lexicon Pharmaceuticals Shares Jump

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Midway through trading Thursday, the Dow traded up 0.42% to 31,189.88 while the NASDAQ rose 0.35% to 13,175.48. The S&P also rose, gaining 0.15% to 3,815.58.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 23,078,350 cases with around 384,780 deaths. India confirmed a total of at least 10,512,090 confirmed cases and 151,720 deaths, while Brazil reported over 8,256,530 COVID-19 cases with 205,960 deaths. In total, there were at least 92,462,190 cases of COVID-19 worldwide with over 1,981,090 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares gained by 2.5% on Thursday. Meanwhile, top gainers in the sector included Centrus Energy Corp. (NYSE: LEU), up 19%, and GasLog Ltd. (NYSE: GLOG), up 14%.

In trading on Thursday, communication services shares fell 0.4%.

Top Headline

Delta Air Lines, Inc. (NYSE: DAL) reported a wider-than-expected loss for its fourth quarter.

Delta Air reported quarterly loss of $2.53 per share, versus analysts’ expectations for a loss of $2.51 per share. The company posted operating revenue of $3.53 billion, versus estimates of $3.6 billion.

Delta Air Lines said it expects Q1 sales to decrease by 60%-65% year over year.

 

Equities Trading UP

Datasea Inc. (NASDAQ: DTSS) shares shot up 81% to $4.3050 after the company reported establishment of a new company to 'focus on the 5G opportunities and related value-added services.'

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) got a boost, shooting 66% to $6.49 after the company announced it received FDA regulatory feedback that the results of its SOLOIST and SCORED Phase 3 clinical studies can support a new drug application submission.

DPW Holdings, Inc. (NYSE: DPW) shares were also up, gaining 40% to $5.86 after the company announced that its power electronics business, Coolisys Technologies Corp. began accepting pre-orders on Amazon.com for its ACECoolTM residential level 2 7kW single electric vehicle charger.

Check out these big movers of the day

Equities Trading DOWN

Viveve Medical, Inc. (NASDAQ: VIVE) shares tumbled 21% to $3.18 after the company priced its $24 million common stock offering.

Shares of Volt Information Sciences, Inc. (NYSE: VOLT) were down 17% to $2.73. Volt Information Sciences reported Q4 results and said it expects "continued improvement in profitability for 2021."

Nano Dimension Ltd. (NASDAQ: NNDM) was down, falling 9% to $10.42 after the company priced its $332.5 million registered direct offering.

Commodities

In commodity news, oil traded down 0.2% to $52.83, while gold traded down 0.4% to $1,847.30.

Silver traded up 0.3% Thursday to $25.655 while copper rose 1% to $3.6530.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.72%, the Spanish Ibex Index rose 0.14% and the German DAX 30 gained 0.35%. Meanwhile, the French CAC 40 rose 0.33%, London’s FTSE 100 gained 0.84% and Italy’s FTSE MIB fell 0.47%.

Eurozone industrial production increased 2.5% MoM, while the German economy contracted by 5% year-over-year in 2020.

Economics

U.S. initial jobless claims increased to 965,000 in the week ended January 9, versus a revised level of 784,000 in the previous week.

U.S. import prices rose 0.9% in December, while export increased 1.1% last month.

U.S. natural-supplies declined 134 billion cubic feet last week, the Energy Information Administration said.

Federal Reserve Bank of Dallas President Robert Kaplan will speak at 1:00 p.m. ET.

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

Check out the full economic calendar here

 

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