Mid-Morning Market Update: Markets Edge Higher; DISH Tops Q2 Estimates

Following the market opening Friday, the Dow traded up 0.22 percent to 25,381.26 while the NASDAQ climbed 0.07 percent to 7,808.47. The S&P also rose, gaining 0.15 percent to 2,831.53.

Leading and Lagging Sectors

Friday morning, the materials shares climbed 0.81 percent. Meanwhile, top gainers in the sector included Intrepid Potash, Inc. (NYSE: IPI ) up 15 percent, and Rayonier Advanced Materials Inc. (NYSE: RYAM ) up 10 percent.

In trading on Friday, information technology shares fell 0.27 percent.

Top Headline

DISH Network Corporation (NASDAQ: DISH ) reported better-than-expected results for its second quarter.

Earnings came in at $0.83 per share, beating market estimates of $0.71 per share. Sales came in at $3.6 billion, beating estimates of $3.44 billion.

Equities Trading UP

Cardtronics plc (NASDAQ: CATM ) shares shot up 30 percent to $31.14 after reporting a second-quarter earnings beat.

Shares of Pixelworks, Inc. (NASDAQ: PXLW ) got a boost, shooting up 33 percent to $4.345 after the company beat Q2 sales estimates.

Hanwha Q CELLS Co., Ltd. (NASDAQ: HQCL ) shares were also up, gaining 24 percent to $8.15 after the company reported the receipt of preliminary non-binding going private proposal for $9 per ADS.

Equities Trading DOWN

Varex Imaging Corporation (NASDAQ: VREX ) shares dropped 29 percent to $27.33 after the company posted downbeat third-quarter results.

Shares of Immersion Corporation (NASDAQ: IMMR ) were down 25 percent to $10.74 after the company missed Q2 earnings estimates.

Arbutus Biopharma Corporation (NASDAQ: ABUS ) was down, falling around 18 percent to $10.1763 after the company announced quarterly financial results on Thursday.


In commodity news, oil traded down 0.32 percent to $68.74 while gold traded down 0.03 percent to $1,219.70.

Silver traded up 0.29 percent Friday to $15.43, while copper rose 0.68 to $2.756.


European shares were higher today. The eurozone's STOXX 600 climbed 0.59 percent, the Spanish Ibex Index rose 0.48 percent, while Italy's FTSE MIB Index jumped 0.99 percent. Meanwhile the German DAX climbed 0.52 percent, and the French CAC 40 rose 0.32 percent while U.K. shares rose 0.82 percent.


The U.S. unemployment rate decreased from 4 percent in June to 3.9 percent in July. The rare sub-4-percent streak began in April. Notably, nonfarm payroll expanded just 157,000 against a 193,000 estimate and June's 213,000 precedent.

The trade deficit increased 7 percent to $46.3 billion in June, versus a revised $43.2 billion gap in May. Economists were expecting a $46.6 billion deficit.

US Markit services PMI fell to 56.00 for July, versus prior reading of 56.20. However, economists were expecting a reading of 56.20.

The ISM non-manufacturing index dropped to 55.70 for July, versus previous reading of 59.10. However, economists projected a reading of 58.60.

The Baker Hughes North American rig count report for the recent 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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