Mid-Day Market Update: Crude Oil Down Over 2%; NuVasive Shares Spike Higher
|Midway through trading Monday, the Dow traded up 0.02 percent to 25,110.89 while the NASDAQ climbed 0.35 percent to 7,323.35. The S&P also rose, gaining 0.16 percent to 2,712.21.
Leading and Lagging Sectors
On Monday, the industrial shares climbed 0.4 percent. Meanwhile, top gainers in the sector included Insperity Inc NSP 15.15% up 16 percent, and US Xpress Enterprises Inc USX 6.8% up 6 percent.
In trading on Monday, health care shares fell 0.3 percent.
Top Headline
Restaurant Brands International Inc QSR 1.5% reported stronger-than-expected results for its fourth quarter.
Restaurant Brands earned $0.68 cents per share in the fourth quarter on revenue of $1.385 billion. However, analysts were expecting the company to earn $0.56 per share on revenue of $1.15 billion.
Equities Trading UP
NuVasive, Inc. NUVA 14.67% shares got a boost, shooting up 16 percent to $57.43 following media reports that Smith & Nephew is in talks to acquire NuVassive for over $3 billion.
Shares of Spi Energy Co Ltd SPI 45.19% shot up 63 percent to $4.40 after Nasdaq granted the company's request for continued listing.
Insperity, Inc. NSP 15.15% shares were also up, gaining 16 percent to $128.70 after the company reported Q4 results and issued strong earnings forecast.
Equities Trading DOWN
Kopin Corporation KOPN 15.65% shares dropped 15 percent to $1.12 following news of a $20 million at-the-market equity offering.
Shares of Auris Medical Holding AG EARS 14.45% were down 15 percent to $0.37 after the company announced that Nasdaq informed the company that it did not meet Nasdaq's deadline to regain compliance with Nasdaq listing rules.
Avaya Holdings Corp. AVYA 10.43% was down, falling around 12 percent to $15.68 after the company reported Q1 sales of $748 million down from $765 million year over year and the company said it expects Q2 sales of $740 million to $765 million versus the $761 million estimate.
Commodities
In commodity news, oil traded down 2.3 percent to $51.52 while gold traded down 0.53 percent to $1,311.50.
Silver traded down 0.53 percent Monday to $15.725, while copper fell 1 percent to $2.783.
European shares were higher today. The eurozone’s STOXX 600 climbed 0.7 percent, the Spanish Ibex Index rose 0.7 percent, while Italy’s FTSE MIB Index surged 1 percent. Meanwhile the German DAX climbed 0.8 percent, and the French CAC 40 surged 1 percent while U.K. shares rose 0.8 percent.
Economics
On the economics calendar Monday, there is no important data due out.
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