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Mid-Afternoon Market Update: Stitch Fix Falls After Q4 Results; Pyxus International Shares Climb


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Toward the end of trading Tuesday, the Dow traded up 0.64 percent to 26,820.96 while the NASDAQ declined 0.12 percent to 8,027.57. The S&P also rose, gaining 0.19 percent to 2,930.12.

Leading and Lagging Sectors

Tuesday afternoon, the utilities shares rose 1.47 percent. Meanwhile, top gainers in the sector included Companhia Paranaense de Energia ADR (NYSE: ELP ) up 10 percent, and Centrais Elétricas Brasileiras S.A. - Eletrobras (NYSE: EBR ) up 10 percent.

In trading on Tuesday, consumer discretionary shares fell 0.55 percent.

Top Headline

PepsiCo, Inc. (NASDAQ: PEP ) reported better-than-expected results for its third quarter.

PepsiCo posted quarterly adjusted earnings of $1.59 per share on sales of $16.49 billion. However, analysts were expecting earnings of $1.57 per share on sales of $16.36 billion.

Equities Trading UP

Atomera Incorporated (NASDAQ: ATOM ) shares shot up 12 percent to $6.1300 after licensing MST Technology to STMicroelectronics.

Shares of Pyxus International, Inc. (NYSE: PYX ) got a boost, shooting up 24 percent to $28.82 after its Canadian subsidiary, Goldleaf Pharm, received a cannabis cultivation license from Health Canada.

Clovis Oncology, Inc. (NASDAQ: CLVS ) shares were also up, gaining 14 percent to $33.12 after receiving Breakthrough Therapy designation from the FDA for its Rubraca (rucaparib) for the treatment of BRCA1/2-mutated metastatic castration resistant prostate cancer.

Equities Trading DOWN

Acasti Pharma Inc. (NASDAQ: ACST ) shares dropped 18 percent to $1.29 after the company announced it has opted to issue common shares to the holders of its outstanding convertible debentures in lieu of interest payable. In connection with this, the company has elected to issue an aggregate 23,723 common shares to the debenture holders.

Shares of Stitch Fix, Inc. (NASDAQ: SFIX ) were down 34 percent to $29.4001. Stitch Fix reported upbeat earnings for its fourth quarter, while sales missed estimates. The company reported 2.74 million active clients, a 25-percent year-over-year increase.

Jaguar Health, Inc. (NASDAQ: JAGX ) was down, falling around 25 percent to $0.6317. Jaguar Health priced its 15 million common share offering at $0.60 per share.

Commodities

In commodity news, oil traded down 0.35 percent to $75.04 while gold traded up 1.17 percent to $1,205.60.

Silver traded up 1.19 percent Tuesday to $14.68, while copper rose 0.39 to $2.7985.

Eurozone

European shares closed lower today. The eurozone's STOXX 600 dipped 0.52 percent, the Spanish Ibex Index fell 1.08 percent, while Italy's FTSE MIB Index declined 0.23 percent. Meanwhile the German DAX dropped 0.42 percent, and the French CAC 40 fell 0.71 percent while U.K. shares fell 0.28 percent.

© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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This article appears in: Investing , Commodities
Referenced Symbols: EBR , ELP , PEP , CLVS , ACST



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