Mid-day market update: Trade Desk jumps after upbeat results, GT Biopharma shares slide

Midway through trading Monday, the Dow traded up 0.34% to 36,452.79 while the NASDAQ rose 0.18% to 16,000.97. The S&P also rose, gaining 0.11% to 4,702.76.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 47,336,570 cases with around 775,210 deaths. India confirmed a total of at least 34,366,610 cases and 461,040 deaths, while Brazil reported over 21,880,430 COVID-19 cases with 609,480 deaths. In total, there were at least 250,719,480 cases of COVID-19 worldwide with more than 5,066,940 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares gained by 1.4% on Monday. Meanwhile, top gainers in the sector included Centrus Energy Corp. LEU +12.99% (Get Free Alerts for LEU), up 13% and Clean Energy Fuels Corp. CLNE +7.38% (Get Free Alerts for CLNE) up 8%.

In trading on Monday, utilities shares fell 1.6%.

Top Headline

Coty Inc. COTY +12.81% reported better-than-expected earnings for its first quarter on Monday.

Coty posted quarterly adjusted earnings of $0.08 per share, beating analysts’ estimates of $0.03 per share. The company’s quarterly sales came in $1.37 billion, versus expectations of $1.36 billion.

Coty said it sees FY22 earnings of $0.19 to $0.23 per share, versus analysts’ views of $0.20 per share. The company also agreed to sell additional partial stake in Wella to KKR in exchange for 56% of the preferred Coty shares owned by KKR.

Equities Trading UP

Pioneer Power Solutions, Inc. PPSI +86.77% shares shot up 109% to $6.80 after the company announced the launch of its E-Boost portfolio of mobile Electric Vehicle charging solutions for a full range of applications.

Shares of The Trade Desk, Inc. TTD +28.88% got a boost, shooting 27% to $87.29 after the company reported better-than-expected Q3 results and issued Q4 sales guidance above estimates.

Autolus Therapeutics plc AUTL +25.36% shares were also up, gaining 32% to $7.36 after the company announced Blackstone Life Sciences will invest $250 million in the company.

Equities Trading DOWN

51job, Inc. JOBS -19.68% shares tumbled 20% to $54.00 after the company announced an update on the going-private transaction.

Shares of GT Biopharma, Inc. GTBP -21.01% were down 29% to $4.9229 after the company announced CEO Anthony Cataldo and CFO Michael Handelman will depart.

eHealth, Inc. EHTH -21.73% was down, falling 19% to $32.59 after the company reported worse-than-expected Q3 results.

Commodities

In commodity news, oil traded up 0.6% to $81.78, while gold traded up 0.4% to $1,823.80.

Silver traded up 1.1% Monday to $24.43 while copper rose 1.3% to $4.3975.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.17%, the Spanish Ibex Index fell 0.53% and the German DAX 30 gained 0.04%. Meanwhile, the London’s FTSE 100 rose 0.08%, French CAC 40 rose 0.22% and Italy’s FTSE MIB slipped 0.14%.

Economics

The Treasury will auction 3-year notes at 1:00 p.m. ET.

Federal Reserve Bank of Chicago President Charles Evans will speak at 1:50 p.m. ET.