Mid-Day Market Update: Crude Oil Rises Over 1%; ERYTECH Pharma Shares Plummet

Midway through trading Monday, the Dow traded up 0.14% to 35,726.52 while the NASDAQ rose 0.52% to 15,168.16. The S&P also rose, gaining 0.27% to 4,557.07.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 46,312,780 cases with around 756,360 deaths. India confirmed a total of at least 34,189,770 cases and 454,740 deaths, while Brazil reported over 21,729,760 COVID-19 cases with 605,680 deaths. In total, there were at least 244,513,860 cases of COVID-19 worldwide with more than 4,965,680 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares gained by 1.4% on Monday. Meanwhile, top gainers in the sector included HighPeak Energy, Inc. HPK, up 15% and NextDecade Corporation NEXT up 12%.

In trading on Monday, utilities shares fell 0.2%.

Top Headline

Kimberly Clark Corp KMB reported weaker-than-expected results for its third quarter, while sales exceeded views. The company also lowered its forecast for FY21.

Kimberly Clark Corp KMB reported third-quarter FY21 sales growth of 7% year-on-year, to $5.01 billion, beating the analyst consensus of $4.99 billion. Adjusted EPS of $1.62 missed the analyst consensus of $1.65.

Citing higher input cost inflation, Kimberly Clark has cut its FY21 adjusted EPS outlook to $6.05 - $6.25 (prior view $6.65 - $6.90) against the consensus of $6.70. Organic sales decline of 1% - 2% (prior outlook decline of 0% - 2%).

Equities Trading UP

Greenpro Capital Corp. GRNQ shares shot up 146% to $2.08 after the company announced its incubated company Angkasa-X has successfully admitted as an ITU-R member and is filing for application to launch its Low Earth Orbit satellites.

Shares of PAE Incorporated PAE got a boost, shooting 67% to $9.88 after the company agreed to be acquired by an affiliate of Amentum Government Services Holdings LLC in an all-cash transaction valued at ~$1.9 billion, including debt and certain fees.

Bakkt Holdings, Inc. BKKT shares were also up, gaining 61% to $14.76 after the company and Mastercard announced a partnership for crypto and loyalty solutions.

Check out these big movers of the day

Equities Trading DOWN

Eyenovia, Inc. EYEN shares tumbled 37% to $4.1601. Eyenovia announced reclassification of MydCombi as drug-device combination product by the FDA.

Shares of ERYTECH Pharma S.A. ERYP were down 38% to $3.41 after the company announced its TRYbeCA-1 Phase 3 trial of eryaspace in patients with second-line advanced pancreatic cancer did not meet its primary endpoint of overall survival.

SG Blocks, Inc. SGBX was down, falling 20% to $3.8573 after the company reported a $11.55 million registered direct offering priced at-the-market under Nasdaq rules.


In commodity news, oil traded up 1.2% to $84.72, while gold traded up 0.7% to $1,808.20.

Silver traded up 0.6% Monday to $24.60 while copper rose 1% to $4.5450.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 climbed 0.01%, the Spanish Ibex Index rose 0.01% and the German DAX 30 gained 0.31%. Meanwhile, the London’s FTSE 100 rose 0.23%, French CAC 40 fell 0.3% and Italy’s FTSE MIB gained 0.68%.

The Ifo Business Climate indicator for Germany fell to 97.7 in October, recording the weakest level since April.


The Chicago Fed National Activity Index fell to -0.13 in September from 0.05 in August.

The Dallas Fed manufacturing index for October increased by 10 points to a reading of 14.6 in October.

Check out the full economic calendar here

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