Following the market opening Tuesday, the Dow traded up 0.27 percent to 22,619.26 while the NASDAQ climbed 0.05 percent to
6,519.72. The S&P also rose, gaining 0.05 percent to 2,530.28.
Leading and Lagging Sectors
Tuesday morning, the telecommunications services shares surged 0.48 percent. Meanwhile, top gainers in the sector included
Internet Initiative Japan Inc. (ADR) (NASDAQ: IIJI),
up 4 percent, and Internet Gold Golden Lines Ltd (NASDAQ: IGLD), up 5 percent.
In trading on Tuesday, utilities shares fell 0.42 percent. Meanwhile, top losers in the sector included Entergy
Corporation (NYSE: ETR), down 2 percent, and Exelon
Corporation (NYSE: EXC) down 1.5 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 52
percent to $5.53 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 47 percent to $5.29 after the company reported an allowance for US Patent application covering a novel
method of cell separation.
Vical Incorporated (NASDAQ: VICL) shares were also
up, gaining 27 percent to $3.25 after the company reported VL-2397 approval by the FDA for Limited Use Indication.
Equities Trading DOWN
Tile Shop Hldgs, Inc. (NASDAQ: TTS) shares dropped
34 percent to $8.65 after the company issued weak forecast for the third quarter. The company expects Q3 sales to rise 7 percent to
$84 million. Comparable store sales are projected to increase 1 percent in the quarter.
Shares of RedHill Biopharma Ltd - ADR (NASDAQ: RDHL) were down 12 percent to $9.49 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 12 percent to $20.84 after the company issued an update on strategic actions. Craig-Hallum downgraded Aegion from Buy to
Hold.
Commodities
In commodity news, oil traded down 0.04 percent to $50.56 while gold traded up 0.02 percent to $1,276.10.
Silver traded up 0.10 percent Tuesday to $16.67, while copper rose 0.34 percent to $2.9655.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.06 percent, the Spanish Ibex Index fell 0.44 percent,
while Italy’s FTSE MIB Index fell 0.18 percent. Meanwhile the German DAX gained 0.58 percent, and the French CAC 40 gained 0.36
percent while U.K. shares rose 0.23 percent.
Economics
Data on motor vehicle sales for September will be released today.
The Johnson Redbook Retail Sales Index rose 4.1 percent year-over-year during September.
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
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