Mid-Day Market Update: Amkor Technology Surges On Upbeat Q4 Results; Phio Pharmaceuticals Shares Plummet
|Midway through trading Tuesday, the Dow traded up 0.19% to 29,333.28 while the NASDAQ rose 0.8% to 9,705.16. The S&P also rose, gaining 0.54% to 3,370.08.
Leading and Lagging Sectors
Real estate shares climbed 1.2% on Tuesday. Meanwhile, top gainers in the sector included SBA Communications Corporation (NASDAQ: SBAC), up 8%, and Uniti Group Inc (NASDAQ: UNIT), up 8%.
In trading on Tuesday, consumer staples shares fell 0.3%.
Top Headline
Hasbro, Inc. (NASDAQ: HAS) reported stronger-than-expected earnings for its fourth quarter, while sales missed views.
Hasbro reported quarterly earnings of $1.24 per share, which beat the analyst consensus estimate of $0.91. The company reported quarterly sales of $1.428 billion, which missed the analyst consensus estimate of $1.44 billion.
Equities Trading UP
Sprint Corporation (NYSE: S) shares shot up 70% to $8.18 following a report suggesting a US judge is expected to rule in favor of the company's proposed T-Mobile merger.
Shares of Amkor Technology, Inc. (NASDAQ: AMKR) got a boost, shooting 19% to $13.74 after the company reported better-than-expected Q4 EPS and sales results. The company also issued Q1 EPS and sales guidance above estimates.
Rexahn Pharmaceuticals, Inc. (NASDAQ: REXN) shares were also up, gaining 78% to $3.66 after the company announced a license agreement with Zhejiang HaiChang Biotechnology.
Equities Trading DOWN
Phio Pharmaceuticals Corp. (NASDAQ: PHIO) shares tumbled 51% to $3.2701 after the company priced 2 million share offering at $4 per unit.
Shares of Myomo, Inc. (NYSE: MYO) were down 45% to $6.43 after the company announced pricing of public offering of common stock and warrants.
YayYo, Inc. (NASDAQ: YAYO) was down, falling 69% to $0.3340 after the company announced it will voluntarily delist its common stock from the NASDAQ Capital Markets.
Commodities
In commodity news, oil traded up 1.7% to $50.42, while gold traded down 0.7% to $1,567.80.
Silver traded down 0.8% Tuesday to $17.64, while copper rose 1.7% to $2.594.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.01%, the Spanish Ibex Index rose 0.66%, while Italy’s FTSE MIB Index rose 0.92% Meanwhile, the German DAX gained 1.28%, and the French CAC 40 rose 0.7% while UK shares rose 0.88%.
Economics
The NFIB small business optimism index climbed to 104.3 in January, versus a reading of 102.7 in December.
The Johnson Redbook Retail Sales Index fell 0.7% during the first week of February versus January.
The number of job openings declined 364,000 to 6.423 million for December, versus a revised reading of 6.787 million in the prior month, according to the Labor Department.
The Treasury is set to auction 3-year notes at 1:00 p.m. ET.
Federal Reserve Bank of St. Louis President James Bullard will speak at 1:30 p.m. ET.
Federal Reserve Bank of Minneapolis President Neel Kashkari is set to speak at 2:15 p.m. ET.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.