Silver Rises Over 1%; Tyson Foods Posts Downbeat Earnings

Silver Rises Over 1%; Tyson Foods Posts Downbeat Earnings

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite dropping around 60 points on Monday.

The Dow traded up 0.12% to 33,786.86 while the NASDAQ fell 0.52% to 11,264.14. The S&P 500 also fell, dropping, 0.04% to 3,991.31.

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Leading and Lagging Sectors

Energy shares jumped 1% on Monday. Leading the sector was strength from Mammoth Energy Services, Inc. TUSK and Borr Drilling Limited BORR.

In trading on Monday, real estate shares dipped by 1.1%.

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Tyson Foods, Inc. TSN reported mixed results for its fourth quarter on Monday.

Tyson Foods reported fourth-quarter FY22 sales growth of 7.2% year-on-year to $13.74 billion, beating the consensus of $13.49 billion. Adjusted EPS of $1.63 missed the analyst consensus of $1.73.

Tyson Foods expects FY23 sales of $55 billion - $57 billion, versus the consensus of $53.61 billion. It sees FY23 capital expenditure of $2.5 billion.


Equities Trading UP


  • Opiant Pharmaceuticals, Inc. OPNT shares shot up 116% to $20.33. Indivior PLC agreed to acquire Opiant Pharmaceuticals for $20.00 per share in cash, plus contingent value rights (CVRs) of up to $8.00 per share.
  • Shares of Freight Technologies, Inc. FRGT got a boost, shooting 150% to $0.5160 after analysts at Chardan Capital initiated coverage of the stock with a $2.25 price target.
  • ToughBuilt Industries, Inc. TBLT shares were also up, gaining 45% to $3.19 after the company reported better-than-expected Q3 EPS results.

Equities Trading DOWN

  • Satsuma Pharmaceuticals, Inc. STSA shares tumbled 83% to $0.69 after the company reported topline results from the STS101 SUMMIT Phase 3 efficacy trial in migraine patients.
  • Shares of SELLAS Life Sciences Group, Inc. SLS were down 45% to $2.50 after the company reported Q3 earnings results and provided a business update.
  • POINT Biopharma Global Inc. PNT was down, falling 35% to $5.97. Lantheus and POINT Biopharma announced collaboration and exclusive license agreements for commercialization of PNT2002 & PNT2003.

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In commodity news, oil traded down 0.1% to $88.85 while gold traded up 0.3% at $1,774.00.

Silver traded up 1.4% to $21.965 on Monday while copper fell 1.3% to $3.8615.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.43%, London’s FTSE 100 rose 1.14% while Spain’s IBEX 35 Index rose 1.2%. The German DAX climbed 0.94%, French CAC 40 rose 0.53% and Italy’s FTSE MIB Index gained 0.72%.

Industrial production in the Eurozone increased 0.9% from a month ago in September versus a revised 2.0% increase in the previous month.


Asia Pacific Markets

Asian markets closed mixed on Monday, with the Japan’s Nikkei dropping 1.06% and Hong Kong’s Hang Seng Index gaining 1.7%. China’s Shanghai Composite Index slipped 0.13%.

The annual wholesale price inflation rate in India eased to 8.39% in October from 10.7% percent in the earlier month, while total passenger vehicles sales in the country fell by 5.4% percent month-over-month to 291,113 units during October.


Federal Reserve Bank of New York President John Williams is set to speak at 6:30 p.m. ET.

Check out this: Volatility In Markets Eases Further As US Stocks Extend Gains

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 99,898,460 cases with around 1,100,120 deaths. India confirmed a total of at least 44,666,920 cases and 530,530 deaths, while France reported over 37,127,170 COVID-19 cases with 157,700 deaths. In total, there were at least 640,440,610 cases of COVID-19 worldwide with more than 6,615,720 deaths.

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