Quantcast

Mid-Day Market Update: Crude Oil Down Over 2%; NuVasive Shares Spike Higher


Shutterstock photo

Midway through trading Monday, the Dow traded up 0.02 percent to 25,110.89 while the NASDAQ climbed 0.35 percent to 7,323.35. The S&P also rose, gaining 0.16 percent to 2,712.21.

Leading and Lagging Sectors

On Monday, the industrial shares climbed 0.4 percent. Meanwhile, top gainers in the sector included Insperity Inc (NYSE: NSP ) up 16 percent, and US Xpress Enterprises Inc (NYSE: USX ) up 6 percent.

In trading on Monday, health care shares fell 0.3 percent.

Top Headline

Restaurant Brands International Inc (NYSE: QSR ) reported stronger-than-expected results for its fourth quarter.

Restaurant Brands earned $0.68 cents per share in the fourth quarter on revenue of $1.385 billion. However, analysts were expecting the company to earn $0.56 per share on revenue of $1.15 billion.

Equities Trading UP

NuVasive, Inc. (NASDAQ: NUVA ) shares got a boost, shooting up 16 percent to $57.43 following media reports that Smith & Nephew is in talks to acquire NuVassive for over $3 billion.

Shares of Spi Energy Co Ltd (NASDAQ: SPI ) shot up 63 percent to $4.40 after Nasdaq granted the company's request for continued listing.

Insperity, Inc. (NYSE: NSP ) shares were also up, gaining 16 percent to $128.70 after the company reported Q4 results and issued strong earnings forecast.

Equities Trading DOWN

Kopin Corporation (NASDAQ: KOPN ) shares dropped 15 percent to $1.12 following news of a $20 million at-the-market equity offering.

Shares of Auris Medical Holding AG (NASDAQ: EARS ) were down 15 percent to $0.37 after the company announced that Nasdaq informed the company that it did not meet Nasdaq's deadline to regain compliance with Nasdaq listing rules.

Avaya Holdings Corp. (NYSE: AVYA ) was down, falling around 12 percent to $15.68 after the company reported Q1 sales of $748 million down from $765 million year over year and the company said it expects Q2 sales of $740 million to $765 million versus the $761 million estimate.

Commodities

In commodity news, oil traded down 2.3 percent to $51.52 while gold traded down 0.53 percent to $1,311.50.

Silver traded down 0.53 percent Monday to $15.725, while copper fell 1 percent to $2.783.

Eurozone

European shares were higher today. The eurozone's STOXX 600 climbed 0.7 percent, the Spanish Ibex Index rose 0.7 percent, while Italy's FTSE MIB Index surged 1 percent. Meanwhile the German DAX climbed 0.8 percent, and the French CAC 40 surged 1 percent while U.K. shares rose 0.8 percent.

Economics

On the economics calendar Monday, there is no important data due out.

© 2019 Benzinga.com. Benzinga does not provide investment advice . All rights reserved.

Get insight into trading platforms. Compare the best online stock brokerages.

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: SPI , KOPN , NUVA , NSP , USX



More from Benzinga

Subscribe






Contributor:

Benzinga

Market Analysis, FinTech










Research Brokers before you trade

Want to trade FX?