Mid-Afternoon Market Update: Crude Oil Up Over 3%; AZZ Shares Plummet

Shutterstock photo

Toward the end of trading Monday, the Dow traded down 0.30 percent to 22,282.82 while the NASDAQ declined 1.11 percent to 6,355.84. The S&P also fell, dropping 0.35 percent to 2,493.44.

Leading and Lagging Sectors

Monday afternoon, the energy shares surged 0.95 percent. Meanwhile, top gainers in the sector included Diamond Offshore Drilling Inc (NYSE: DO ), up 11 percent, and Atwood Oceanics, Inc. (NYSE: ATW ), up 10 percent.

In trading on Monday, technology shares fell 1.42 percent. Meanwhile, top losers in the sector included Cardtronics PLC (NASDAQ: CATM ), down 11 percent, and Semiconductor Manufacturing Int'l (ADR) (NYSE: SMI ) down 7 percent.

Top Headline

D. R. Horton Inc (NYSE: DHI ) lowered its FY 2017 cash flow forecast.

DR Horton expects FY 2017 cash flow of $150 million, versus earlier forecast of $300 million. The company said it does not anticipate hurricane will impact FY 2018 guidance.

Equities Trading UP

Izea Inc (NASDAQ: IZEA ) shares shot up 56 percent to $5.00. IZEA reported the release of CurationEngine™.

Shares of Aradigm Corporation (NASDAQ: ARDM ) got a boost, shooting up 26 percent to $3.18 after the company disclosed the FDA acceptance of its NDA for Linhaliq with Priority Review status.

Pulse Biosciences Inc (NASDAQ: PLSE ) shares were also up, gaining 24 percent to $18.62. Pulse Biosciences reported $30 million private placement at $15.02 per share.

Equities Trading DOWN

AZZ Inc (NYSE: AZZ ) shares dropped 7 percent to $47.55 after the company lowered its FY2018 guidance.

Shares of Quest Diagnostics Inc (NYSE: DGX ) were down 7 percent to $94.94. Raymond James downgraded Quest Diagnostics from Outperform to Market Perform.

TDH Holdings Inc (NASDAQ: PETZ ) was down, falling around 22 percent to $9.97 after climbing 98.91 percent on Friday.


In commodity news, oil traded up 3.1 percent to $52.22 while gold traded up 1.09 percent to $1,311.70.

Silver traded up 0.95 percent Monday to $17.145, while copper fell 0.34 percent to $2.9345.


European shares closed mostly lower today. The eurozone's STOXX 600 rose 0.18 percent, the Spanish Ibex Index fell 0.86 percent, while Italy's FTSE MIB Index slipped 0.63 percent. Meanwhile the German DAX gained 0.02 percent, and the French CAC 40 slipped 0.27 percent while U.K. shares fell 0.13 percent.


The Chicago Fed National Activity Index declined to a reading of -0.31 in August, compared to +0.03 in July.

The Dallas Fed manufacturing business index rose to 21.30 for September, versus prior reading of 17.00.

Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Grand Forks, North Dakota at 6:30 p.m. ET.

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

Profit with More New & Research . Gain access to a streaming platform with all the information you need to invest better today. Click here to start your 14 Day Trial of Benzinga Professional

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Commodities
Referenced Symbols: CATM , AZZ , DGX , DHI

More from Benzinga




Market Analysis, FinTech

Research Brokers before you trade

Want to trade FX?