Mid-Afternoon Market Update: Dow Gains 130 Points; CyberOptics Shares Plunge

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Toward the end of trading Monday, the Dow traded up 0.58 percent to 22,535.49 while the NASDAQ climbed 0.13 percent to 6,504.64. The S&P also rose, gaining 0.28 percent to 2,526.35.

Leading and Lagging Sectors

Monday afternoon, the healthcare shares surged 0.76 percent. Meanwhile, top gainers in the sector included Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL ), up 31 percent, and Endocyte, Inc. (NASDAQ: ECYT ), up 102 percent.

In trading on Monday, telecommunications services shares fell 0.31 percent. Meanwhile, top losers in the sector included B Communications Ltd (NASDAQ: BCOM ), down 5 percent, and Telecom Italia SpA (ADR) (NYSE: TI ) down 3 percent.

Top Headline

Cal-Maine Foods Inc (NASDAQ: CALM ) reported a wider-than-expected loss for its first quarter on Monday.

Cal-Maine reported a Q1 loss of $0.33 per share on sales of $262.8 billion. However, analysts were expecting a loss of $0.22 per share on sales of $273.7 million.

Equities Trading UP

Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL ) shares shot up 34 percent to $3.41 after the company issued an update on FDA review of fostamatinib for ITP. The FDA has indicated it will not hold an Oncology Drugs AdCom meeting for fostamatinib.

Shares of Quarterhill Inc (NASDAQ: QTRH ) got a boost, shooting up 21 percent to $1.59 after the company updated its Q3 guidance. The company expects Q3 sales of $72.5 million to $82.5 million and adjusted EBITDA of $50 million to $56 million.

Endocyte, Inc. (NASDAQ: ECYT ) shares were also up, gaining 102 percent to $2.85 after the company reported worldwide license of PSMA-617 from ABX GmbH.

Equities Trading DOWN

Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN ) shares dropped 13 percent to $32.45 after the company reported topline data from spinocerebellar ataxia Phase 2/3 trial.

Shares of CyberOptics Corporation (NASDAQ: CYBE ) were down 27 percent to $11.88 after the company reported a $3 million buyback plan and lowered its Q3 outlook.

Seres Therapeutics Inc (NASDAQ: MCRB ) was down, falling around 21 percent to $12.61 after the company reported topline results from SER-287 Phase 1b study in patients with Ulcerative Colitis.


In commodity news, oil traded down 2.30 percent to $50.48 while gold traded down 0.66 percent to $1,276.30.

Silver traded down 0.22 percent Monday to $16.64, while copper fell 0.07 percent to $2.953.


European shares closed mostly higher today. The eurozone's STOXX 600 rose 0.51 percent, the Spanish Ibex Index fell 1.21 percent, while Italy's FTSE MIB Index rose 0.51 percent. Meanwhile the German DAX gained 0.58 percent, and the French CAC 40 gained 0.39 percent while U.K. shares rose 0.90 percent.


The Markit manufacturing PMI rose to 53.10 for September, versus prior reading of 53.00. However, economists were expecting a reading of 53.00.

The ISM manufacturing index gained to 60.80 in September, versus previous reading of 58.80. Economists projected a reading of 58.00.

U.S. construction spending rose 0.5 percent for August, versus economists' expectations for a 0.4 percent gain.

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

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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: CALM , CYBE , RIGL , TI , BCOM

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