Toward the end of trading Friday, the Dow traded up 0.57 percent to 25,194.62 while the NASDAQ climbed 1.62 percent to 7,448.04.
The S&P also rose, gaining 0.86 percent to 2,751.89.
Leading and Lagging Sectors
Friday afternoon, the information technology shares climbed 2.02 percent. Meanwhile, top gainers in the sector included
Endava plc (NYSE: DAVA) up 14 percent, and
Smartsheet Inc. (NYSE: SMAR) up 12
percent.
In trading on Friday, financial shares fell 0.91 percent.
Top Headline
JPMorgan Chase & Co. (NYSE: JPM) reported
upbeat earnings for its third quarter.
JPMorgan posted quarterly earnings of $2.34 per share on revenue of $27.8 billion. However, analysts were expecting earnings of
$2.25 per share on sales of $27.5 billion.
Equities Trading UP
Corium International Inc (NASDAQ: CORI)
shares shot up 53 percent to $12.74 after the company announced it will be acquired by Gurnet Point Capital for $12.50 per
share.
Shares of Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) got a boost, shooting up 18 percent to $11.76. Iovance Biotherapeutics said,
following an end-of-Phase 2 meeting with the FDA regarding lead candidate lifileucel, the regulatory body acknowledged that a
single-arm cohort as part of C-144-01 could be supportive of initial registration, and conduct of a randomized Phase 3 trial in the
patient population being enrolled may not be feasible. The company also priced 22 million shares at $9.97 per share.
Sears Holdings Corporation (NASDAQ: SHLD) shares were also up, gaining 22 percent to $0.4176 amid reports the company
is nearing a financing deal that could keep it open through Christmas but could file for bankruptcy as soon as this weekend.
Equities Trading DOWN
Immune Design Corp. (NASDAQ: IMDZ)
shares dropped 39 percent to $1.70 after the company said it will discontinue its SYNOVATE trial.
Shares of Wabash National Corporation (NYSE: WNC) were down 22 percent to $13.06. Wabash National expects Q3 sales of $550 million
to $555 million and adjusted earnings of $0.27 to $0.30 per share.
EXFO Inc (NASDAQ: EXFO) was down,
falling around 12 percent to $3.14 after reporting Q4 results. EXFO posted Q4 IFRS net loss of $0.07 per share on sales of $69.216
million. EXFO expects Q1 sales of $66 million to $71 million and IFRS loss of $0.16 to $0.20 per share.
Commodities
In commodity news, oil traded up 0.56 percent to $71.37 while gold traded down 0.36 percent to $1,223.20.
Silver traded up 0.27 percent Friday to $14.645, while copper rose 0.23 to $2.8095.
Eurozone
European shares closed lower today. The eurozone’s STOXX 600 slipped 0.19 percent, the Spanish Ibex Index fell 1.18 percent,
while Italy’s FTSE MIB Index dropped 0.52 percent. Meanwhile the German DAX slipped 0.13 percent, and the French CAC 40 dropped
0.20 percent while U.K. shares fell 0.16 percent.
Economics
The import price index increased 0.5 percent for September, versus economists’ expectations for a 0.2 percent rise.
The University of Michigan's consumer sentiment index declined to 99 for October, from a reading of 100.1.
The total number of active U.S. oil rigs rose by 8 to 869 rigs this week, Baker Hughes Inc reported.
Federal Reserve Vice Chairman for Supervision Randal Quarles is set to speak in Bali, Indonesia at 10:30 p.m. ET.
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