Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Lisa Levin

Mid-Day Market Update: Dow Tumbles 200 Points; TherapeuticsMD Shares Jump

U.S. stocks traded lower midway through trading, with the Dow Jones dropping around 200 points on Friday.

The Dow traded down 0.64% to 31,052.54 while the NASDAQ fell 0.72% to 11,306.32. The S&P also fell, dropping, 0.59% to 3,877.94.

Also check this: Executives Buy Around $1.6M Of 4 Penny Stocks


Leading and Lagging Sectors


Health care shares rose by 0.3% on Friday. Meanwhile, top gainers in the sector included Permian Basin Royalty Trust (NYSE:PBT), up 10% and Camber Energy, Inc. (NYSE:CEI) up 5%.


In trading on Friday, industrials shares dipped 1.6%.


Top Headline


Deere & Company (NYSE:DE) reported better-than-expected results for its second quarter and raised its guidance.

Deere posted quarterly earnings of $6.81 per share, beating analysts’ estimates of $6.71 per share. The company’s quarterly sales came in at $13.37 billion, versus expectations of $13.20 billion.

Deere raised its FY22 earnings guidance from $6.7 billion-$7.1 billion to $7 billion-$7.4 billion.


Equities Trading UP


TherapeuticsMD, Inc. (NASDAQ:TXMD) shares shot up 28% to $2.8950 after the company announced that it has received FDA approval of its supplemental New Drug Application for ANNOVERA.


Shares of Deckers Outdoor Corporation (NYSE:DECK) got a boost, shooting 14% to $259.11 after the company reported better-than-expected Q4 EPS and sales results and issued guidance.


Exicure, Inc. (NASDAQ:XCUR) shares were also up, gaining 15% to $0.1388. Exicure said in Form4 filing a director bought 1.47 million shares at an average price of 19 cents/share.


Equities Trading DOWN

Evofem Biosciences, Inc. (NASDAQ:EVFM) shares tumbled 62% to $0.4131 after reporting pricing of approximately $26.6 million public offering.


Shares of Ross Stores, Inc. (NASDAQ:ROST) were down 22% to $72.61 after the company reported worse-than-expected Q1 EPS and sales results. The company also issued Q2 EPS guidance below analyst estimates.


Foghorn Therapeutics Inc. (NASDAQ:FHTX) was down, falling 22% to $8.92 after the company announced the FDA placed the Phase 1 dose escalation study of FHD-286 in relapsed and/or refractory acute myelogenous leukemia and myelodysplastic syndrome on a partial clinical hold.


Also check out: 4 Stocks Under $3 Insiders Are Aggressively Buying


Commodities

In commodity news, oil traded up 0.7% to $112.95, while gold traded down 0.2% to $1,837.10.


Silver traded down 0.8% to $21.735 on Friday while copper rose 0.3% to $4.2935.



Euro zone


European shares were higher today. The eurozone’s STOXX 600 gained 1.16%, London’s FTSE 100 jumped 1.58% and Spain’s IBEX 35 Index rose 1.17%. The German DAX climbed 1.07%, French CAC 40 rose 0.62% and Italy’s FTSE MIB Index jumped 0.63%.

Construction output in Italy climbed 19.4% year-over-year in March following a revised 22.1% surge in the prior month. Annual producer inflation in Germany accelerated to 33.5% in April from 30.9% in March. Retail sales in the UK climbed 1.4% month-over-month in April.


Economics


The Baker Hughes North American rig count report for the latest quarter will be released at 1:00 p.m. ET.

Check out this: Zoom Video And 2 Other Stocks Insiders Are Selling

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 84,799,040 cases with around 1,028,330 deaths. India confirmed a total of at least 43,131,820 cases and 524,320 deaths, while Brazil reported over 30,752,220 COVID-19 cases with 665,490 deaths. In total, there were at least 526,027,940 cases of COVID-19 worldwide with more than 6,297,330 deaths.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.