Mid-Day Market Update: Foot Locker Gains On Upbeat Earnings; Heat Biologics Shares Plummet

Midway through trading Wednesday, the Dow traded up 0.45 percent to 24,574.78 while the NASDAQ climbed 1.2 percent to 6,991.81. The S&P also rose, gaining 0.67 percent to 2,659.51.

Leading and Lagging Sectors

On Wednesday, the materials shares climbed 1.3 percent. Meanwhile, top gainers in the sector included Tronox Ltd (NYSE: TROX ) up 7 percent, and Iamgold Corp (NYSE: IAG ) up 6 percent.

In trading on Wednesday, utilities shares fell 0.8 percent.

Top Headline

Deere & Company (NYSE: DE ) reported weaker-than-expected results for its fourth quarter.

Deere posted quarterly earnings of $2.30 per share on revenue of $8.34 billion. However, analysts were expecting a profit of $2.45 per share on revenue of $8.58 billion.

Equities Trading UP

Ability Inc (NASDAQ: ABIL ) shares got a boost, shooting up 89 percent to $5.33 after the company announced the acquisition of a company which supplies and develops licenses Ultimate Interception for $1 million.

Shares of Baozun Inc (NASDAQ: BZUN ) shot up 19 percent to $35.91 after announcing better-than-expected earnings for its third quarter.

Foot Locker, Inc. (NYSE: FL ) shares were also up, gaining 18 percent to $54.19 after the company reported stronger-than-expected earnings for its third quarter on Tuesday.

Equities Trading DOWN

Heat Biologics Inc (NASDAQ: HTBX ) shares dropped 31 percent to $1.42 after reporting an offering of common shares and warrants.

Shares of Zion Oil & Gas, Inc. (NASDAQ: ZN ) were down 60 percent to $0.48 after the company issued a press release highlighting Megiddo-Jezreel #1 well was determined to be not commercially productive.

Sphere 3D Corp (NASDAQ: ANY ) was down, falling around 25 percent to $4.98 after jumping 144.81 percent on Tuesday.


In commodity news, oil traded up 2.13 percent to $54.57 while gold traded up 0.67 percent to $1,229.40 .

Silver traded up 1.76 percent Wednesday to $14.52, while copper rose 0.85 percent to $2.80.


European shares were higher today. The eurozone's STOXX 600 climbed 1.02 percent, the Spanish Ibex Index gained 0.82 percent, while Italy's FTSE MIB Index jumped 1.21 percent. Meanwhile the German DAX climbed 1.53 percent, and the French CAC 40 rose 0.93 percent while U.K. shares rose 1.23 percent.


U.S. durable goods orders fell 4.4 percent for October, versus economists' expectations for a 2.2 percent decline.

U.S. initial jobless claims rose 3,000 to 224,000 for the latest week. However, economists projected a 215,000 reading.

The University of Michigan's consumer sentiment index declined to 97.5 for November, versus a prior reading of 98.6.

U.S. existing home sales rose 1.4 percent at an annual rate of 5.22 million for October.

The index of leading economic indicators rose 0.1 percent for October.

Domestic crude supplies rose 4.85 million barrels for the week ended November 16, the Energy Information Administration reported. Analysts projected a gain of 2.5 million barrels. Gasoline stockpiles dropped 1.29 million barrels, while distillate stockpiles slipped 77,000 barrels last week.

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

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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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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