Mid-Day Market Update: US Stocks Turn Higher; Quiksilver Shares Surge On Upbeat Earnings

Midway through trading Friday, the Dow traded up 0.21 percent to 14,968.35 while the NASDAQ surged 0.21 percent to 3,666.32. The S&P also rose, gaining 0.31 percent to 1,660.23.

Top Headline

Smithfield Foods

SFD

reported a

drop in its first-quarter

profit. Smithfield's quarterly profit dropped to $39.5 million, from $61.7 million, in the year-earlier period. Its earnings per share fell to $0.27 from $0.40. Its revenue climbed to $3.4 billion from $3.1 billion. Analysts were expecting a profit of $0.47 per share.

Equities Trading UP

Quiksilver

ZQK

shot up 31.58 percent to $6.84 after the company reported upbeat fiscal third-quarter earnings. Shares of VeriFone Systems

PAY

got a boost, shooting up 10.96 percent to $22.99 after the company reported

better-than-expected

fiscal third-quarter results. Finisar

FNSR

was also up, gaining 2.23 percent to $23.35 after the company issued strong Q2 outlook.

Equities Trading DOWN

Shares of Mattress Firm Holding

Pre-IPO Offer: Get A Piece Of A Nearly $5T Global Opportunity By Joining BOXABL As An Early Shareholder At Just $0.80/Share

Massive Demand & Disruptive Potential – Boxabl has received interest for over 190,000 homes, positioning itself as a major disruptor in the housing market.
Revolutionary Manufacturing Approach – Inspired by Henry Ford’s assembly line, Boxabl’s foldable tiny homes are designed for high-efficiency production, making homeownership more accessible.
Affordable Investment Opportunity – With homes priced at $60,000, Boxabl is raising $1 billion to scale production, offering investors a chance to own a stake in its growth.

Share Price: $0.80

Min. Investment: $1,000

Valuation: $3.5B

MFRM

were down 16.14 percent to $34.96 after the company reported

downbeat second-quarter results

and lowered its forecast. MannKind

MNKD

shares tumbled 6.03 percent to $5.92 after analysts at

Bank of America downgraded

the stock from Neutral to Underperform. Smith & Wesson Holding

SWHC

was down, falling 8.28 percent to $10.53 after the company issued a downbeat Q2 forecast.

Commodities

In commodity news,

oil traded up 1.63 percent

to $110.14, while gold traded up 1.06 percent to $1,387.60. Silver traded up 2.58 percent Friday to $23.86, while copper rose 0.48 percent to $3.26.

Euro zone

European shares

were higher

today. The Spanish Ibex Index gained 1.23 percent, while Italy's FTSE MIB Index rose 1.21 percent. Meanwhile, the German DAX gained 0.49 percent and the French CAC 40 climbed 1.06 percent while U.K. shares rose 0.23 percent.

Economics

The US economy added 169,000 jobs in August, while the country's unemployment rate declined to 7.3% from 7.4%. Economists were expecting a 173,000 gain in jobs in August.