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Market Overview

Mid-Morning Market Update: Markets Open Higher; Hasbro Earnings Beat Views


Following the market opening Monday, the Dow traded up 0.61% to 31,338.77 while the NASDAQ rose 0.67% to 13,949.08. The S&P also rose, gaining 0.51% to 3,906.73.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 27,008,090 cases with around 463,480 deaths. India confirmed a total of at least 10,838,190 confirmed cases and 155,080 deaths, while Brazil reported over 9,524,640 COVID-19 cases with 231,530 deaths. In total, there were at least 106,220,640 cases of COVID-19 worldwide with over 2,318,560 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares rose 3% on Monday. Meanwhile, top gainers in the sector included Clean Energy Fuels Corp (NASDAQ: CLNE), up 37%, and Borr Drilling Ltd (NYSE: BORR), up 17%.

In trading on Monday, utilities shares fell by 0.3%.

Top Headline

Hasbro, Inc. (NASDAQ: NAS) reported stronger-than-expected results for its fourth quarter.

Hasbro reported quarterly earnings of $1.27 per share, exceeding analysts’ estimates of $1.14 per share. The company’s quarterly sales came in $1.72 billion, which also surpassed expectations of $1.69 billion.



Equities Trading UP

Ocugen, Inc. (NASDAQ: OCGN) shares shot up 125% to $11.84 after announcing the sale of 3 million common shares at $7.65 per share in a registered direct offering, with gross proceeds of $23 million.

Shares of CRH Medical Corporation (NYSE: CRHM) got a boost, shooting 81% to $3.94 after the company announced it will be acquired by Well Health for $4 per share.

BSQUARE Corporation (NASDAQ: BSQR) shares were also up, gaining 78% to $5.67 after jumping more than 67%on Friday on abnormal volume levels.

Check out these big movers of the day

Equities Trading DOWN

Cheetah Mobile Inc. (NYSE: CMCM) shares tumbled 13% to $3.08 after jumping more than 27% on Thursday.

Shares of CN Energy Group. Inc. (NASDAQ: CNEY) were down 12% to $5.03. CN Energy Group shares climbed around 44% on Friday after the company priced its IPO at $4 per share.

Dragon Victory International Limited (NASDAQ: LYL) was down, falling 9% to $2.78 after climbing over 19% on Friday.


In commodity news, oil traded up 1.1% to $57.49, while gold traded up 0.4% to $1,820.50.

Silver traded up 0.7% Monday to $27.205 while copper rose 0.3% to $3.6380.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.5%, the Spanish Ibex Index rose 0.4% and the German DAX 30 gained 0.03%. Meanwhile, the French CAC 40 gained 0.7%, London’s FTSE 100 rose 1% and Italy’s FTSE MIB surged 1.6%.

Spain's industrial production declined 0.6% year-over-year in December versus a revised 3.7% drop in the previous month, while German industrial production stalled in December.


The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.

Federal Reserve Bank of Cleveland President Loretta Mester will speak at 12:00 p.m. ET.

The Investor Movement Index for January is scheduled for release at 12:30 p.m. ET.

Check out the full economic calendar here


Related Articles (BSQR + BORR)

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

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