Mid-Day Market Update: LendingClub Surges Following Strong Q2 Results; Atreca Shares Plummet

Midway through trading Thursday, the Dow traded up 0.55% to 35,122.75 while the NASDAQ rose 0.47% to 14,831.28. The S&P also rose, gaining 0.61% to 4,427.36.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 34,675,350 cases with around 611,800 deaths. India confirmed a total of at least 31,528,110 cases and 422,660 deaths, while Brazil reported over 19,797,080 COVID-19 cases with 553,160 deaths. In total, there were at least 196,040,880 cases of COVID-19 worldwide with more than 4,188,530 deaths, according to data compiled by Johns Hopkins University.


Leading and Lagging Sectors


Financials shares climbed 1.2% on Thursday. Meanwhile, top gainers in the sector included LendingClub Corporation LC, up 51% and Meta Financial Group, Inc. CASH up 6%.


In trading on Thursday, communication services shares fell 0.3%.


Top Headline

Mastercard Incorporated MA reported better-than-expected results for its second quarter.

Mastercard reported quarterly adjusted earnings of $1.95 per share, beating analysts’ estimates of $1.72 per share. The company’s revenue came in at $4.50 billion, versus expectations of $4.34 billion.

 

Equities Trading UP


LendingClub Corporation LC shares shot up 51% to $24.55 after the company reported better-than-expected Q2 results and raised guidance.


Shares of NanoVibronix, Inc. NAOV got a boost, shooting 51% to $2.8782 after the company announced it received registration approval for UroShield from TGA Australia.


Huttig Building Products, Inc. HBP shares were also up, gaining 14% to $6.67 after reporting Q2 earnings.

Check out these big movers of the day


Equities Trading DOWN

Annovis Bio, Inc. ANVS shares tumbled 47% to $58.20 after the company presented new clinical and biomarker data at the 2021 Alzheimer's Association International Conference.

Shares of Atreca, Inc. BCEL were down 36% to $5.27 after the company announced initial data from the dose escalation portion of its ongoing Phase 1b trial evaluating ATRC-101 in select solid tumor types, showing the investigational asset was well-tolerated. Preliminary biomarker data supported the proposed mechanism of action found in preclinical studies.

Brightcove Inc. BCOV was down, falling 16% to $11.07 after the company issued weak Q3 2021 and FY21 revenue guidance.


Commodities


In commodity news, oil traded up 1% to $73.08, while gold traded up 1.5% to $1,827.40.


Silver traded up 3.8% Thursday to $25.820 while copper rose 1.1% to $4.5295.


Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.44%, the Spanish Ibex Index rose 0.65% and the German DAX 30 gained 0.42%. Meanwhile, the London’s FTSE 100 rose 0.98%, French CAC 40 climbed 0.5% and Italy’s FTSE MIB climbed 0.99%.

The consumer confidence indicator in the Eurozone was confirmed at -4.4 in July, while services confidence indicator climbed to 19.3 in July. The industry confidence indicator in the Eurozone increased to 14.6 in July.

Producer prices in Italy surged 9.1% year-over-year in June. Consumer credit in the UK rose by GBP 0.31 billion in June, while UK factories produced 69,097 cars during June. Spain's unemployment rate fell to 15.26% in the second quarter from 15.98% in the prior three-month period, while annual inflation rate increased to 2.9% in July. French industrial producer increased 1.1% in June, while German unemployment rate stood at 3.7% in June.


Economics


The US economy grew an annualized 6.5% on quarter during the second quarter, down from market estimates of 8.5%.


US initial jobless claims fell to 400,000 in the week ending July 24th.


The pending home sales index dropped 1.9% year-over-year for June.


US natural-gas supplies climbed 36 billion cubic feet last week, the Energy Information Administration said.


The Treasury will auction 7-year notes at 1:00 p.m. ET.

Check out the full economic calendar here

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