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Mid-Day Market Update: Crude Oil Up Over 2%; Diebold Nixdorf Shares Spike Higher


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Midway through trading Wednesday, the Dow traded up 0.43 percent to 25,535.10 while the NASDAQ climbed 0.22 percent to 7,431.02. The S&P also rose, gaining 0.34 percent to 2,754.12.

Leading and Lagging Sectors

On Wednesday, the energy shares climbed 1.8 percent. Meanwhile, top gainers in the sector included Alta Mesa Resources, Inc. (NASDAQ: AMR ) up 9 percent, and Crescent Point Energy Corp. (NYSE: CPG ) up 6 percent.

In trading on Wednesday, utilities shares fell 0.4 percent.

Top Headline

DISH Network Corp (NASDAQ: DISH ) reported weaker-than-expected earnings for its fourth quarter.

DISH earned $0.64 cents per share in the fourth quarter on revenue of $3.31 billion. However, analysts were expecting the company to earn $0.67 per share on revenue of $3.28 billion.

Equities Trading UP

Diebold Nixdorf, Incorporated (NYSE: DBD ) shares got a boost, shooting up 35 percent to $7.03 after reporting upbeat Q4 sales.

Shares of ReWalk Robotics Ltd. (NASDAQ: RWLK ) shot up 30 percent to $0.3514 after the company announced Cigna will adopt national policy coverage of personal exoskeleton devices.

Lattice Semiconductor Corporation (NASDAQ: LSCC ) shares were also up, gaining 24 percent to $10.14 after reporting a fourth-quarter sales beat. The company issued strong first-quarter sales guidance.

Equities Trading DOWN

McDermott International, Inc. (NYSE: MDR ) shares dropped 24 percent to $7.05. McDermott projects adverse change in Q4 results of $168 million for Cameron Liquefied Natural Gas project, citing 'unfavorable labor productivity, and increases in subcontract, commissioning and construction management costs.'

Shares of Aquantia Corp. (NYSE: AQ ) were down 23 percent to $7.62 after the company reported downbeat Q4 results.

Groupon, Inc. (NASDAQ: GRPN ) was down, falling around 15 percent to $3.3865 after reporting weaker-than-expected earnings for its fourth quarter on Tuesday.

Commodities

In commodity news, oil traded up 2.28 percent to $54.31 while gold traded up 0.2 percent to $1,316.20.

Silver traded up 0.01 percent Wednesday to $15.69, while copper rose 0.07 percent to $2.774.

Eurozone

European shares were higher today. The eurozone's STOXX 600 climbed 0.76 percent, the Spanish Ibex Index rose 0.08 percent, while Italy's FTSE MIB Index surged 1.05 percent. Meanwhile the German DAX climbed 0.67 percent, and the French CAC 40 surged 0.59 percent while U.K. shares rose 0.78 percent.

Economics

The Consumer Price Index was unchanged for January, versus economists' expectations for a 0.1 percent drop.

Domestic crude supplies climbed 3.6 million barrels for the week ended February 8, the Energy Information Administration reported. However, analysts expected a gain of 2.7 million barrels. Gasoline stockpiles rose 400,000 barrels, while distillate stockpiles climbed 1.2 million barrels last week.

The U.S. Treasury budge t report for December will be released at 2:00 p.m. ET.

© 2019 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: DISH , LSCC , AMR , DBD , MDR



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