Mid-Day Market Update: Barnes & Noble Education Surges After Q2 … – Benzinga

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Midway through trading Tuesday, the Dow traded down 0.13 percent to 24,258.53 while the NASDAQ climbed 0.56 percent to 6,813.36. The S&P also rose, gaining 0.10 percent to 2,642.13.

Leading and Lagging Sectors

On Tuesday, the information technology sector proved to be a source of strength for the market. Leading the sector was strength from Daqo New Energy Corp. (NYSE: DQ) and Ceragon Networks Ltd. (NASDAQ: CRNT).

In trading on Tuesday, utilities shares fell 1.11 percent.

Top Headline

Toll Brothers, Inc. (NYSE: TOL) reported downbeat results for its fourth quarter.

Toll Brothers posted quarterly earnings of $1.17 per share on revenue of $2.03 billion. However, analysts expected earnings of $1.19 per share on revenue of $2.08 billion.

Equities Trading UP

Revance Therapeutics, Inc. (NASDAQ: RVNC) shares shot up 35 percent to $35.10 after the company disclosed that its RT002 met primary and all secondary endpoints.

Shares of Moleculin Biotech, Inc. (NASDAQ: MBRX) got a boost, shooting up 14 percent to $2.07 after the company disclosed that its WP1066 drug has received the FDA brain tumor IND clearance.

Barnes & Noble Education, Inc. (NYSE: BNED) shares were also up, gaining 19 percent to $7.51 after the company reported Q2 results.

Equities Trading DOWN

Galectin Therapeutics, Inc. (NASDAQ: GALT) shares dropped 34 percent to $1.6466 as the company reported that its Phase 2b NASH-CX trial did not meet its primary endpoint.

Shares of Ascena Retail Group, Inc. (NASDAQ: ASNA) were down 23 percent to $2.015. Ascena Retail reported in-line earnings for its first quarter. The company reported a 5 percent drop in its Q1 comps and issued weak second quarter guidance.

Digital Power Corporation (NYSE: DPW) was down, falling around 12 percent to $3.06 following news of offering by selling shareholders.

Commodities

In commodity news, oil traded up 0.71 percent to $57.88 while gold traded down 0.83 percent to $1,267.10.

Silver traded down 1.64 percent Tuesday to $16.105, while copper fell 4.29 percent to $2.9575.

Eurozone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.19 percent, the Spanish Ibex Index rose 0.03 percent, while Italy’s FTSE MIB Index jumped 0.24 percent. Meanwhile the German DAX slipped 0.08 percent, and the French CAC 40 dipped 0.26 percent while U.K. shares fell 0.16 percent.

Economics

U.S. trade deficit rose 8.6 percent to $48.7 billion in October.

The ISM non-manufacturing index dropped to 57.40 in November, versus prior reading of 60.10. However, economists projected a reading of 59.10.

© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.





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