Mid-Day Market Update: Crude Oil Up Over 1%; Condor Hospitality Trust Shares Jump
|Midway through trading Monday, the Dow traded down 0.02% to 27149.21 while the NASDAQ rose 0.61% to 8,196.54. The S&P also rose, gaining 0.21% to 2,982.77.
Leading and Lagging Sectors
Information technology shares rose 1.1% on Monday. Meanwhile, top gainers in the sector included Camtek Ltd. CAMT 6.28%, up 7%, and Ideanomics, Inc. IDEX 8.43%, up 5%.
In trading on Monday, consumer staples shares fell 0.6%.
Top Headline
Halliburton Company HAL 7.12% reported upbeat earnings for its second quarter, while sales missed views.
Halliburton reported second quarter earnings of $0.35 per share, which beat the analyst consensus estimate of $0.30 per share. The company reported quarterly sales of $5.93 billion, versus the analyst consensus estimate of $5.97 billion.
Equities Trading UP
Taronis Technologies Inc TRNX 72.06% shares shot up 68% to $0.5277 after the company received a $165 million purchase contract.
Shares of Condor Hospitality Trust Inc CDOR 35.25% got a boost, shooting up 32% to $10.95 following an announcement that the company will be acquired by NexPoint Hospitality Trust for $318 million.
Peak Resorts Inc SKIS 112.81% shares were also up, gaining 113% to $10.85 after the company agreed to be acquired by Vail Resorts, Inc. MTN 3.86% for $11 per share in cash.
Equities Trading DOWN
Intec Pharma Ltd. NTEC 81.1% shares tumbled 81% to $0.5586 after the company announced its Phase 3 trial of Accordion Pill-Carbidopa/Levodopa in advanced parkinson's disease patients did not meet its target endpoints.
Shares of Salarius Pharmaceuticals Inc. NASDAQSLRX were down 33% to $10.25. Salarius Pharmaceuticals enrolled first patient in Phase 1 clinical study of novel inhibitor targeting epigenetics in patients with advanced solid tumors.
Cadence Bancorporation CADE 18.37% was down, falling 17% to $16.26 after the company reported Q2 EPS down from last year.
Commodities
In commodity news, oil traded up 1.1% to $56.25, while gold traded down 0.1% to $1,426.10.
Silver traded up 1.3% Monday to $16.40, while copper fell 1.2% to $2.7205.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.13%, the Spanish Ibex Index fell 0.08%, while Italy’s FTSE MIB Index climbed 0.44%. Meanwhile, the German DAX gained 0.24%, and the French CAC 40 rose 0.26% while UK shares rose 0.08%.
Economics
The Chicago Fed National Activity Index rose to a reading of -0.02 in June, versus a revised reading of -0.03 in the prior month.
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