Mid-Day Market Update: Dow Down Over 400 Points; Movado Shares Surge On Upbeat Q3 Results

Benzinga Team Benzinga

Midway through trading Tuesday, the Dow traded down 1.71 percent to 25,384.92 while the NASDAQ declined 2.02 percent to 7,290.96. The S&P also rose, gaining 1.74 percent to 2,741.78.

Leading and Lagging Sectors

On Tuesday, the utilities shares climbed 0.7 percent. Meanwhile, top gainers in the sector included Genie Energy Ltd. GNE 3.14% up 4 percent, and Companhia de Saneamento Basico SBS 0.14% up 2 percent.

In trading on Tuesday, financial shares fell 3.2 percent.

Top Headline

Dollar General Corp. DG 7.87% posted in-line earnings for its third quarter, while sales exceeded views. However, the company lowered its full-year forecast.

Dollar General reported quarterly earnings of $1.26 per share on revenue of $6.4 billion. However, analysts expected earnings of $1.26 per share on sales of $6.38 billion.

Dollar General now expects FY18 earnings of $5.85 to $6.05 per share, versus prior forecast of $5.95 to $6.15 per share.

Equities Trading UP

Safe-T Group Ltd SFET 17.06% shares got a boost, shooting up 23 percent to $6.72 after announcing $292,000 of new contracts, including a contract with the Israeli government.

Shares of Movado Group, Inc. MOV 12.59% shot up 13 percent to $41.71 after reporting better-than-expected Q3 results.

Novelion Therapeutics Inc. NVLN 35.37% shares were also up, gaining 34 percent to $1.3166 after a shareholder, Healthcare Value Capital, send a letter to the company outlining its expectations that the company should explore potential sale.

Equities Trading DOWN

Barnes & Noble Education, Inc. BNED 26.64% shares dropped 29 percent to $4.61 following Q2 results.

Shares of Aphria Inc. APHA 16.03% were down 21 percent to $4.78. Aphria responded Tuesday to criticism from a pair of short sellers that sent the stock tumbling 23 percent Monday.

Christopher & Banks Corporation CBK 21.25% was down, falling around 21 percent to $0.3799 after the company missed Q3 EPS and revenue estimates.

Commodities

In commodity news, oil traded up 0.02 percent to $52.96 while gold traded up 0.38 percent to $1,244.30.

Silver traded up 0.94 percent Tuesday to $14.635, while copper fell 1.23 percent to $2.7745.

Eurozone

European shares were lower today. The eurozone’s STOXX 600 fell 0.76 percent, the Spanish Ibex Index dropped 1.28 percent, while Italy’s FTSE MIB Index dipped 1.37 percent. Meanwhile the German DAX declined 1.14 percent, and the French CAC 40 slipped 0.82 percent while U.K. shares fell 0.56 percent.

Economics

The Johnson Redbook Retail Sales Index rose 0.8 percent during November.

The Treasury will auction 52-week bills at 1:00 p.m. ET.

Author

Benzinga Team

Benzinga

Benzinga's news desk is a dynamic and innovative team that provides real-time, actionable articles that help readers navigate the market.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.