Following the market opening Thursday, the Dow traded up 0.02 percent to 22,162.84 while the NASDAQ declined 0.35 percent to
6,437.35. The S&P also fell, dropping 0.16 percent to 2,494.45.
Leading and Lagging Sectors
Thursday morning, the energy shares surged 0.55 percent. Meanwhile, top gainers in the sector included W&T Offshore,
Inc. (NYSE: WTI), up 10 percent, and Teekay Offshore
Partners L.P. (NYSE: TOO), up 6 percent.
In trading on Thursday, basic materials shares fell 0.75 percent. Meanwhile, top losers in the sector included United States
Steel Corporation (NYSE: X), down 5 percent, and
Cleveland-Cliffs Inc (NYSE: CLF) down 4 percent.
Top Headline
United Natural Foods, Inc. (NASDAQ: UNFI) reported
stronger-than-expected earnings for its fourth quarter on Wednesday.
United Natural Foods posted Q4 adjusted earnings of $0.72 per share on revenue of $2.34 billion. However, analysts were
expecting earnings of $0.70 per share on sales of $2.36 billion.
Equities Trading UP
Halozyme Therapeutics, Inc. (NASDAQ: HALO) shares
shot up 19 percent to $15.65. Bristol-Myers and Halozyme disclosed a collaboration and license agreement using Halozyme's ENHANZE
technology. The company also announced the licensing of its ENHANZE to Roche. Halozyme Therapeutics raised its FY sales
outlook.
Shares of Autoliv Inc. (NYSE: ALV) got a boost,
shooting up 11 percent to $125.23. Autoliv initiated strategic review to consider separation of business segments into Passive
Safety and Electronics.
United Natural Foods, Inc. (NASDAQ: UNFI) shares
were also up, gaining 10 percent to $40.98 after the company reported stronger-than-expected earnings for its fourth quarter.
Equities Trading DOWN
Summit Therapeutics PLC (ADR) (NASDAQ: SMMT)
shares dropped 18 percent to $12.50. Summit Therapeutics priced public offering of 1.459 million ADS's at $12.00 per ADS.
Shares of Workhorse Group Inc (NASDAQ: WKHS) were
down 15 percent to $2.99. Workhorse priced its 3.75 million share common stock and warrant offering at $3.20 per share.
BiondVax Pharmaceuticals Ltd (ADR) (NASDAQ: BVXV)
was down, falling around 8 percent to $6.99. BiondVax priced its 1.5 million ADS offering at $6.00 per ADS.
Commodities
In commodity news, oil traded up 1.24 percent to $49.91 while gold traded down 0.07 percent to $1,327.10.
Silver traded down 0.43 percent Thursday to $17.79, while copper fell 0.57 percent to $2.964.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.02 percent, the Spanish Ibex Index fell 0.57 percent,
while Italy’s FTSE MIB Index gained 0.17 percent. Meanwhile the German DAX dropped 0.27 percent, and the French CAC 40 slipped 0.02
percent while U.K. shares fell 0.81 percent.
Economics
The Consumer Price Index rose 0.40 percent for August, versus economists’ expectations for a 0.3 percent growth.
Initial jobless claims declined to 284,000 in the latest week, versus a prior reading of 298,000. Economists projected jobless
claims to reach 300,000 last week.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at
10:30 a.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
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