Mid-Day Market Update: Dow Gains 50 Points; Ruby Tuesday Shares Fall Following Q2 Results

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Midway through trading Friday, the Dow traded up 0.26 percent to 19,951.30 while the NASDAQ gained 0.48 percent to 5,514.02. The S&P also rose, gaining 0.25 percent to 2,274.73.

Leading and Lagging Sectors

Technology shares gained around 0.53 percent in trading on Friday. Meanwhile, top gainers in the sector included Virtusa Corporation (NASDAQ: VRTU ), and Ceragon Networks Ltd (NASDAQ: CRNT ).

In trading on Friday, telecommunications services shares fell by 1.04 percent. Meanwhile, top losers in the sector included Chunghwa Telecom Co., Ltd (ADR) (NYSE: CHT ), down 3 percent, and Shenandoah Telecommunications Company (NASDAQ: SHEN ), down 3 percent.

Top Headline

Greenbrier Companies Inc (NYSE: GBX ) reported weaker-than-expected earnings for its first quarter on Friday.

Greenbrier posted Q1 earnings of $0.79 per share on revenue of $552.3 million. However, analysts projected earnings of $0.83 per share on revenue of $489.4 million.

Equities Trading UP

SunLink Health Systems, Inc. (NYSE: SSY ) shares shot up 27 percent to $1.44. SunLink Health announced plans to buy back 3 million shares at $1.50 per share.

Shares of Stemline Therapeutics Inc (NASDAQ: STML ) got a boost, shooting up 14 percent to $12.90 after the company reported a FDA deal on expedited pathway to full approval of SL-401 in first-line BPDCN.

Pacira Pharmaceuticals Inc (NASDAQ: PCRX ) shares were also up, gaining 15 percent to $39.30. Pacira Pharmaceuticals reported preliminary 2016 revenue of $276.4 million.

Equities Trading DOWN

COPsync Inc (NASDAQ: COYN ) shares dropped 40 percent to $0.620 after the company reported a $1.15 million registered direct offering.

Shares of Ruby Tuesday, Inc. (NYSE: RT ) were down around 23 percent to $2.73 after the company posted a wider quarterly loss. Ruby Tuesday reported Q2 adjusted loss of $0.18 per share on revenue of $214.7 million.

Stein Mart, Inc. (NASDAQ: SMRT ) was down, falling around 14 percent to $4.55. Stein Mart reported a 4.8 percent drop in its comparable store sales for the nine-week period ended December 31, 2016.


In commodity news, oil traded down 0.61 percent to $53.43 while gold traded down 0.52 percent to $1,175.10.

Silver traded down 1.03 percent Friday to $16.47, while copper fell 0.45 percent to $2.53.


European shares were mostly higher today. The eurozone's STOXX 600 fell 0.13 percent, the Spanish Ibex Index gained 0.18 percent, while Italy's FTSE MIB Index rose 0.15 percent. Meanwhile the German DAX gained 0.05 percent, and the French CAC 40 rose 0.08 percent while U.K. shares rose 0.14 percent.


The U.S. economy added 156,000 new jobs in December. However, economists were expecting a gain of 180,000 nonfarm jobs. The unemployment rate rose to 4.7 percent from 4.6 percent.

The U.S. trade deficit increased around 7 percent to $45.2 billion in November, versus a revised $42.4 billion in October. Economists projected a deficit of $45.9 billion for the month. U.S. exports declined 0.2 percent to $185.8 billion in November, while imports rose 1.1 percent to $231.1 billion.

U.S. factory orders declined 2.40 percent for November, versus economists' expectations for a 2.20 percent drop.

The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

Dallas Federal Reserve Bank President Robert Kaplan will speak at the American Economic Association's annual meeting in Chicago at 3:30 p.m. ET.

© 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: SSY , CRNT , SHEN , SMRT , VRTU

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