Toward the end of trading Tuesday, the Dow traded up 0.35 percent to 22,637.08 while the NASDAQ climbed 0.15 percent to
6,526.74. The S&P also rose, gaining 0.15 percent to 2,532.96.
Leading and Lagging Sectors
Tuesday afternoon, the basic materials shares surged 0.59 percent. Meanwhile, top gainers in the sector included Companhia
Siderurgica Nacional (ADR) (NYSE: SID), up 9 percent, and
Gerdau SA (ADR) (NYSE: GGB), up 4 percent.
In trading on Tuesday, utilities shares fell 0.25 percent. Meanwhile, top losers in the sector included Atlantic Power
Corp (NYSE: AT), down 2 percent, and (NYSE: PNM) down 2 percent.
Top Headline
Paychex, Inc. (NASDAQ: PAYX) reported
better-than-expected earnings for its first quarter on Tuesday.
Paychex reported Q1 adjusted earnings of $0.62 per share on sales of $816.8 million. However, analysts were expecting earnings
of $0.60 per share on sales of $816.30 million.
Equities Trading UP
Endocyte, Inc. (NASDAQ: ECYT) shares shot up 51
percent to $5.47 following 157 percent rally on Monday amid news of global license for PSMA-617. Wedbush upgraded Endocyte from
Neutral to Outperform.
Shares of Cesca Therapeutics Inc (NASDAQ: KOOL)
got a boost, shooting up 35 percent to $4.85 following an announcement from the company that the U.S. Patent and Trademark Office
issuing a notice of allowance regarding its pending application for a patent covering its Buoyancy-Activated Cell Separation, or
BACS technology.
Vical Incorporated (NASDAQ: VICL) shares were also
up, gaining 22 percent to $3.02 after the company reported receipt of FDA approval for VL-2397 for Limited Use Indication.
Equities Trading DOWN
Tile Shop Hldgs, Inc. (NASDAQ: TTS) shares dropped
35 percent to $8.57 after the company cautioned investors that its third-quarter sales will likely fall short of investor
expectations. The company expects Q3 sales to rise 7 percent to $84 million. Comparable store sales are projected to increase 1
percent in the quarter. Telsey Advisory Group downgraded Tile Shop from Market Perform to Underperform.
Shares of RedHill Biopharma Ltd - ADR (NASDAQ: RDHL) were down 13 percent to $9.41 after the company issued top-line results from
Phase II study of BEKINDA in patients with IBS-D.
Aegion Corp (NASDAQ: AEGN) was down, falling
around 10 percent to $21.30 after the company issued an update on strategic actions. Craig-Hallum downgraded Aegion from Buy to
Hold.
Commodities
In commodity news, oil traded down 0.28 percent to $50.44 while gold traded down 0.09 percent to $1,274.70.
Silver traded down 0.02 percent Tuesday to $16.65, while copper rose 0.17 percent to $2.9605.
Eurozone
European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.15 percent, the Spanish Ibex Index rose 0.02
percent, while Italy’s FTSE MIB Index fell 0.12 percent. Meanwhile the German DAX gained 0.58 percent, and the French CAC 40 gained
0.32 percent while U.K. shares rose 0.39 percent.
Economics
The Johnson Redbook Retail Sales Index rose 4.1 percent year-over-year during September.
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