Following the market opening Tuesday, the Dow traded down 0.33 percent to 19,820.99 while the NASDAQ declined 0.56 percent to
5,543.14. The S&P also fell, dropping 0.33 percent to 2,267.06.
Leading and Lagging Sectors
Utilities shares gained around 0.85 percent in trading on Tuesday. Meanwhile, top gainers in the sector included NRG Energy
Inc (NYSE: NRG), and Brookfield Infrastructure Partners
L.P. (NYSE: BIP).
In trading on Tuesday, healthcare shares fell by 0.87 percent. Meanwhile, top losers in the sector included Sucampo
Pharmaceuticals, Inc. (NASDAQ: SCMP), down 5 percent,
and Sangamo Therapeutics Inc (NASDAQ: SGMO), down 7
percent.
Top Headline
Morgan Stanley (NYSE: MS) reported
better-than-expected fourth quarter earnings and revenue, driven by strong performance at its sales, trading and M&A
businesses.
Morgan Stanley reported fourth quarter EPS of $0.81 on revenue of $9 billion, topping Street view of $0.65 and $8.5 billion,
respectively.
Equities Trading UP
Benitec Biopharma Ltd (ADR) (NASDAQ: BNTC) shares
shot up 117 percent to $4.02 after the company disclosed that it has received Orphan Drug Designation in the European Union for
BB-301 for the treatment of oculopharyngeal muscular dystrophy.
Shares of Forward Pharma A/S (NASDAQ: FWP) got a
boost, shooting up 54 percent to $28.25 after Biogen Inc. (NASDAQ: BIIB) disclosed that it has entered into a settlement and license agreement with
Forward Pharma.
Clayton Williams Energy, Inc. (NYSE: CWEI) shares
were also up, gaining 36 percent to $141.74. Noble Energy, Inc. (NYSE: NBL) announced plans to acquire Clayton Williams Energy for $2.7 billion in cash and
stock.
Equities Trading DOWN
Alcobra Ltd (NASDAQ: ADHD) shares dropped 50
percent to $0.950 after the company disclosed that its Phase 3 trial for MDX has missed the primary endpoint.
Shares of Globus Maritime Ltd (NASDAQ: GLBS) were
down around 38 percent to $4.51 after the company disclosed that previously announced private placement and conversion of debt will
not occur.
Christopher & Banks Corporation (NYSE: CBK) was down,
falling around 33 percent to $1.41 after the company issued a weak Q4 sales forecast and reported the departure of President & CEO
LuAnn Via. The company named Joel Waller as interim President and CEO.
Commodities
In commodity news, oil traded up 1.67 percent to $54.04 while gold traded up 1.60 percent to $1,215.30.
Silver traded up 2.18 percent Tuesday to $17.13, while copper fell 1.80 percent to $2.64.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 rose 0.05 percent, the Spanish Ibex Index declined 0.03 percent,
while Italy’s FTSE MIB Index climbed 0.54 percent. Meanwhile the German DAX slipped 0.02 percent, and the French CAC 40 fell 0.18
percent while U.K. shares fell 0.88 percent.
Economics
The Empire State manufacturing index dropped to 6.5 in January, versus a revised reading of 7.6 for December. Economists were
expecting a reading of 8.5.
Federal Reserve Gov. Lael Brainard will speak in Washington, D.C. at 10:00 a.m. ET.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
San Francisco Federal Reserve Bank President John C. Williams is set to speak at Sacramento State University in Calif. at 6:00
p.m. ET.
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