Skip to main content

Market Overview

Mid-Day Market Update: Coupa Software Drops After Q1 Results; NextDecade Shares Jump

Share:

Midway through trading Tuesday, the Dow traded down 0.09% to 34,598.11 while the NASDAQ rose 0.09% to 13,894.14. The S&P also fell, dropping 0.09% to 4,222.88.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,378,760 cases with around 597,980 deaths. India confirmed a total of at least 28,996,470 cases and 351,300 deaths, while Brazil reported over 16,984,210 COVID-19 cases with 474,400 deaths. In total, there were at least 173,668,200 cases of COVID-19 worldwide with more than 3,738,410 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares climbed 0.9% on Tuesday. Meanwhile, top gainers in the sector included NextDecade Corporation (NASDAQ: NEXT), up 69%, and Smart Sand, Inc. (NASDAQ: SND), up 7%.

In trading on Tuesday, utilities shares fell 1.1%.

Top Headline

Thor Industries, Inc. (NYSE: THO) reported better-than-expected results for its third quarter.

Thor Industries reported quarterly earnings of $3.29 per share, beating analysts’ estimates of $2.34 per share. The company’s quarterly sales came in at $3.46 billion, versus expectations of $3.01 billion.

 

Equities Trading UP

NextDecade Corporation (NASDAQ: NEXT) shares shot up 68% to $5.85 after Evercore ISI upgraded the stock from In-Line to Outperform and raised its price target from $3 to $9.

Shares of Clover Health Investments, Corp. (NASDAQ: CLOV) got a boost, shooting 64% to $19.60 amid increased retail investor interest in the stock.

Velodyne Lidar, Inc. (NASDAQ: VLDR) shares were also up, gaining 19% to $12.10 after it was announced the company will join the Russell 2000.

Check out these big movers of the day

Equities Trading DOWN

HOOKIPA Pharma Inc. (NASDAQ: HOOK) shares tumbled 16% to $11.19. HOOKIPA Pharma reported positive Phase 1 data from its ongoing Phase 1/2 study of HB-200 for the treatment of advanced human papillomavirus 16-positive cancers.

Shares of Coupa Software Incorporated (NASDAQ: COUP) were down 7% to $220.69 after the company reported Q1 earnings results and issued guidance.

Aclaris Therapeutics, Inc. (NASDAQ: ACRS) was down, falling 11% to $19.93. Aclaris Therapeutics announced preliminary topline results from its Phase 2a trial evaluating ATI-1777 for moderate to severe atopic dermatitis (AD).

Commodities

In commodity news, oil traded up 0.6% to $69.65, while gold traded down 0.2% to $1,896.00.

Silver traded down 0.5% Tuesday to $27.885 while copper fell 0.2% to $4.5175.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.24%, the Spanish Ibex Index fell 0.04% and the German DAX 30 slipped 0.08%. Meanwhile, the London’s FTSE 100 gained 0.5%, French CAC 40 rose 0.36% and Italy’s FTSE MIB rose 0.11%.

French current account deficit shrank to EUR 1.4 billion in April versus a revised EUR 2.7 billion a month ago, while trade deficit increased to EUR 6.24 billion from a revised EUR 6.14 billion. Industrial production in Germany fell 1% in April.

Economics

The NFIB small business optimism index fell slightly to 99.6 in May.

The US trade gap shrank to $68.9 billion in April versus a record high $75 billion gap a month ago. Imports to the US fell $3.8 billion to $273.9 billion in April, while exports rose by $2.3 billion to $205.0 billion.

The Johnson Redbook Retail Sales Index jumped 14.5% year-over-year during the week ended June 5.

The number of job openings increased around 1.0 million from the prior month to a fresh record high of 9.286 million in April.

The Treasury is set to auction 3-year notes at 1:00 p.m. ET.

Check out the full economic calendar here

 

Related Articles (ACRS + CLOV)

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