Mid-afternoon market update: Dow rises 50 points; Orphazyme (ORPH Stock) shares plunge
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Subscribe to PremiumToward the end of trading Monday, the Dow traded up 0.16% to 33,123 while the NASDAQ fell 0.68% to 13,050.03. The S&P also fell, dropping 0.13% to 3,969.25.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 30,262,590 cases with around 549,330 deaths. Brazil reported over 12,534,680 COVID-19 cases with 312,200 deaths, while India confirmed a total of at least 12,039,640 cases and 161,840 deaths. In total, there were at least 127,258,170 cases of COVID-19 worldwide with more than 2,785,280 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Utilities shares rose 1.4% on Monday. Meanwhile, top gainers in the sector included Kenon Holdings Ltd. KEN 4.24%, up 4%, and Vistra Corp. VST 4.77%, up 4%.
In trading on Monday, energy shares fell 1.1%.
Top Headline
Cal-Maine Foods, Inc. CALM 2.32% reported better-than-expected earnings for its third quarter, while sales missed views.
Cal-Maine posted quarterly earnings of $0.28 per share, exceeding analysts’ estimates of $0.07 per share. The company’s quarterly sales came in at $359.10 million, versus expectations of $368.66 million.
Equities Trading UP
Universe Pharmaceuticals INC UPC 45.33% shares shot up 72% to $6.98. Universe Pharmaceuticals, last week, priced its IPO at $5 per share.
Shares of Humanigen, Inc. HGEN 63.58% got a boost, shooting 56% to $21.86 after the company reported topline data from Phase 3 study evaluating its lead drug candidate, lenzilumab, in patients hospitalized with COVID-19.
China Pharma Holdings, Inc. CPHI 35.22% shares were also up, gaining 35% to $1.12 after the company reported a narrower FY20 loss late Friday.
Check out these big movers of the day
Equities Trading DOWN
Orphazyme A/S ORPH 28.17% shares tumbled 28% to $8.90 after the company's Phase 2/3 trial evaluating armioclomol for treatment of inclusion body myositis did not meet its primary and secondary endpoints.
Shares of Millendo Therapeutics, Inc. MLND 36.01% were down 34% to $1.4305. Millendo Therapeutics agreed to merge with privately-held Tempest Therapeutics Inc in an all-stock transaction.
Celldex Therapeutics, Inc. CLDX 12.11% was down, falling 25% to $17.90 after the company reported interim data from the ongoing Phase 1b trial, evaluating CDX-0159 in patients with antihistamine refractory cold contact urticaria (ColdU) and symptomatic dermographism (SD), the two most common forms of chronic inducible urticaria (CIndU).
Commodities
In commodity news, oil traded up 0.9% to $61.49, while gold traded down 1.3% to $1,710.70.
Silver traded down 1.6% Monday to $24.72 while copper fell 0.9% to $4.0315.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.16%, the Spanish Ibex Index fell 0.07% and the German DAX 30 gained 0.47%. Meanwhile, the French CAC 40 rose 0.45%, London’s FTSE 100 fell 0.07% and Italy’s FTSE MIB gained 0.12%.
Consumer credit in the UK dropped by GBP 1.2 billion in February following a GBP 2.3 billion decline in the earlier month, while number of mortgage approvals for house purchase fell to 87.67 thousand in February.
Economics
The Dallas Fed manufacturing index rose 11.7 points from the earlier month to a reading of 28.9 in March.
Toward the end of trading Monday, the Dow traded up 0.16% to 33,123 while the NASDAQ fell 0.68% to 13,050.03. The S&P also fell, dropping 0.13% to 3,969.25.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 30,262,590 cases with around 549,330 deaths. Brazil reported over 12,534,680 COVID-19 cases with 312,200 deaths, while India confirmed a total of at least 12,039,640 cases and 161,840 deaths. In total, there were at least 127,258,170 cases of COVID-19 worldwide with more than 2,785,280 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Utilities shares rose 1.4% on Monday. Meanwhile, top gainers in the sector included Kenon Holdings Ltd. KEN 4.24%, up 4%, and Vistra Corp. VST 4.77%, up 4%.
In trading on Monday, energy shares fell 1.1%.
Top Headline
Cal-Maine Foods, Inc. CALM 2.32% reported better-than-expected earnings for its third quarter, while sales missed views.
Cal-Maine posted quarterly earnings of $0.28 per share, exceeding analysts’ estimates of $0.07 per share. The company’s quarterly sales came in at $359.10 million, versus expectations of $368.66 million.
Equities Trading UP
Universe Pharmaceuticals INC UPC 45.33% shares shot up 72% to $6.98. Universe Pharmaceuticals, last week, priced its IPO at $5 per share.
Shares of Humanigen, Inc. HGEN 63.58% got a boost, shooting 56% to $21.86 after the company reported topline data from Phase 3 study evaluating its lead drug candidate, lenzilumab, in patients hospitalized with COVID-19.
China Pharma Holdings, Inc. CPHI 35.22% shares were also up, gaining 35% to $1.12 after the company reported a narrower FY20 loss late Friday.
Check out these big movers of the day
Equities Trading DOWN
Orphazyme A/S ORPH 28.17% shares tumbled 28% to $8.90 after the company's Phase 2/3 trial evaluating armioclomol for treatment of inclusion body myositis did not meet its primary and secondary endpoints.
Shares of Millendo Therapeutics, Inc. MLND 36.01% were down 34% to $1.4305. Millendo Therapeutics agreed to merge with privately-held Tempest Therapeutics Inc in an all-stock transaction.
Celldex Therapeutics, Inc. CLDX 12.11% was down, falling 25% to $17.90 after the company reported interim data from the ongoing Phase 1b trial, evaluating CDX-0159 in patients with antihistamine refractory cold contact urticaria (ColdU) and symptomatic dermographism (SD), the two most common forms of chronic inducible urticaria (CIndU).
Commodities
In commodity news, oil traded up 0.9% to $61.49, while gold traded down 1.3% to $1,710.70.
Silver traded down 1.6% Monday to $24.72 while copper fell 0.9% to $4.0315.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.16%, the Spanish Ibex Index fell 0.07% and the German DAX 30 gained 0.47%. Meanwhile, the French CAC 40 rose 0.45%, London’s FTSE 100 fell 0.07% and Italy’s FTSE MIB gained 0.12%.
Consumer credit in the UK dropped by GBP 1.2 billion in February following a GBP 2.3 billion decline in the earlier month, while number of mortgage approvals for house purchase fell to 87.67 thousand in February.
Economics
The Dallas Fed manufacturing index rose 11.7 points from the earlier month to a reading of 28.9 in March.
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