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Mid-Afternoon Market Update: Dow Down 125 Points; Impinj Shares Spike Higher


Toward the end of trading Tuesday, the Dow traded down 0.51 percent to 24,232.02 while the NASDAQ declined 0.45 percent to 7,232.56. The S&P also fell, dropping 0.51 percent to 2,659.05.

Leading and Lagging Sectors

Tuesday afternoon, the industrial shares rose 0.73 percent. Meanwhile, top gainers in the sector included Yangtze River Port and Logistics Limited (NASDAQ: YRIV), up 28 percent, and Sterling Construction Company, Inc. (NASDAQ: STRL) up 15 percent.

In trading on Tuesday, utilities shares fell 2.55 percent.

Top Headline

DISH Network Corp (NASDAQ: DISH) reported in-line earnings for its first quarter, while sales missed estimates.

DISH Network reported quarterly earnings of $0.70 per share, which met the analyst consensus estimate. The company reported quarterly sales of $3.46 billion, which missed the analyst consensus estimate of $3.5 billion by 1.14 percent.

Equities Trading UP, Inc. (NYSE: CRCM) shares shot up 19 percent to $18.8426 following Q1 earnings.

Shares of ProPhase Labs, Inc. (NASDAQ: PRPH) got a boost, shooting up 54 percent to $4.4302 after the company announced a special $1.00 per share cash dividend.

Impinj, Inc. (NASDAQ: PI) shares were also up, gaining 28 percent to $17.40 after reporting Q1 results. Impinj posted a Q1 loss of $0.38 per share on sales of $25.068 million. The company expects Q2 loss of $0.38 to $0.30 per share on sales of $25.0 million to $27.0 million.

Equities Trading DOWN

Entercom Communications Corp. (NYSE: ETM) shares dropped 18 percent to $8.75 following Q1 earnings.

Shares of Hertz Global Holdings, Inc. (NYSE: HTZ) were down 17 percent to $18.505 after the company reported a wider-than-expected loss for its first quarter.

Helios and Matheson Analytics Inc. (NASDAQ: HMNY) was down, falling around 29 percent to $1.495 following 8-K filing divulging it had only $15.5 million in cash as of April 30th and has run an average cash deficit of $21.7 million/month since September 2017.


In commodity news, oil traded down 1.44 percent to $69.71 while gold traded up 0.27 percent to $1,317.60.

Silver traded up 0.24 percent Tuesday to $16.535, while copper fell 0.23 to $3.072.


European shares closed mostly lower today. The eurozone’s STOXX 600 gained 0.13 percent, the Spanish Ibex Index rose 0.27 percent, while Italy’s FTSE MIB Index fell 1.64 percent. Meanwhile the German DAX fell 0.28 percent, and the French CAC 40 slipped 0.17 percent while U.K. shares fell 0.02 percent.


The NFIB small business optimism index rose 0.1 point to 104.8 for April.

The Johnson Redbook Retail Sales Index rose 0.8 percent during the first week of May versus Aprl.

U.S. job openings surged to 6.55 million in March.