Quantcast

Mid-Day Market Update: Boston Beer Surges On Earnings Beat; Destination Maternity Shares Slide


Shutterstock photo

Midway through trading Friday, the Dow traded up 0.04 percent to 21,805.14 while the NASDAQ declined 0.19 percent to 6,369.92. The S&P also fell, dropping 0.20 percent to 2,470.54.

Leading and Lagging Sectors

Healthcare shares climbed by 0.35 percent in the US market on Friday. Top gainers in the sector included LeMaitre Vascular Inc (NASDAQ: LMAT ), and ImmunoGen, Inc. (NASDAQ: IMGN ).

In trading on Friday, non-cyclical consumer goods & services shares fell 0.42 percent. Meanwhile, top losers in the sector included Altria Group Inc (NYSE: MO ), down 10 percent, and GNC Holdings Inc (NYSE: GNC ), down 9 percent.

Top Headline

Amazon.com, Inc. (NASDAQ: AMZN ) reported weaker-than-expected earnings for its second quarter, while sales exceeded estimates.

Amazon reported Q2 earnings of 40 cents per share, which doesn't compare to analyst estimates of $1.42; The company reported EPS of $1.78 in the year-ago period. Sales came in ahead of predictions at $38 billion, beating consensus estimates by $820 million.

The e-commerce giant forecasts FY 2017 sales of $39.25 billion-$41.75 billion, against estimates of $39.9 billion.

Equities Trading UP

LeMaitre Vascular Inc (NASDAQ: LMAT ) shares shot up 19 percent to $33.82 as the company posted upbeat Q2 earnings and issued a strong FY17 forecast.

Shares of ArcBest Corp (NASDAQ: ARCB ) got a boost, shooting up 21 percent to $26.05 as the company reported upbeat Q2 earnings.

Boston Beer Company Inc (NYSE: SAM ) shares were also up, gaining 17 percent to $158.60 as the company posted better-than-expected quarterly results.

Equities Trading DOWN

Destination Maternity Corp (NASDAQ: DEST ) shares dropped 41 percent to $1.76. Destination Maternity and Orchestra-Prémaman reported termination of merger.

Shares of Actinium Pharmaceuticals Inc (NYSE: ATNM ) were down 29 percent to $0.684. Actinium reported a proposed public offering of common stock and warrants to purchase stock.

CyberOptics Corporation (NASDAQ: CYBE ) was down, falling around 23 percent to $18.15 as the company reported downbeat Q2 earnings.

Commodities

In commodity news, oil traded up 1.26 percent to $49.66 while gold traded up 0.66 percent to $1,274.90.

Silver traded up 0.71 percent Friday to $16.69, while copper fell 0.05 percent to $2.876.

Eurozone

European shares were lower today. The eurozone's STOXX 600 dropped 1.04 percent, the Spanish Ibex Index fell 0.63 percent, while Italy's FTSE MIB Index dropped 0.94 percent. Meanwhile the German DAX declined 0.40 percent, and the French CAC 40 slipped 1.07 percent while U.K. shares fell 1 percent.

Economics

U.S. economy expanded at an annual rate of 2.6 percent in the second quarter, versus economists' expectations for a 2.6 percentgrowth.

The final reading of the University of Michigan's consumer sentiment index increased to 93.4 in July, versus a preliminary reading of 93.1. Economists expected a reading of 93.1.

The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Oakdale, Minnesota at 1:20 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: AMZN , CYBE , DEST , IMGN , LMAT



More from Benzinga

Subscribe






Contributor:

Benzinga

Market Analysis, FinTech










Research Brokers before you trade

Want to trade FX?