Mid-Day Market Update: Crude Oil Down 2.5%; Golden Nugget Online Gaming Shares Jump
Midway through trading Monday, the Dow traded down 0.23% to 35,126.98 while the NASDAQ rose 0.20% to 14,866.01. The S&P also fell, dropping 0.08% to 4,432.96.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 35,765,100 cases with around 616,820 deaths. India confirmed a total of at least 31,969,950 cases and 428,300 deaths, while Brazil reported over 20,165,670 COVID-19 cases with 563,150 deaths. In total, there were at least 202,803,140 cases of COVID-19 worldwide with more than 4,296,910 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
In trading on Monday, energy shares fell 1%.
DISH Network Corporation (NASDAQ:DISH) reported better-than-expected results for its second quarter on Monday.
DISH Network reported quarterly earnings of $1.06 per share, exceeding market estimates of $0.88 per share. The company’s quarterly sales came in at $4.49 billion, versus analysts’ expectations of $4.43 billion.
Equities Trading UP
Golden Nugget Online Gaming, Inc. (NASDAQ:GNOG) shares shot up 48% to $18.20 after the company and DraftKings announced they entered into a definitive agreement for DraftKings to acquire Golden Nugget Online Gaming in an all-stock transaction valued at $1.56 billion.
Shares of Cortexyme, Inc. (NASDAQ:CRTX) got a boost, shooting 24% to $83.01 after the company reported Q2 results and issued a business update.
Select Interior Concepts, Inc. (NASDAQ:SIC) shares were also up, gaining 30% to $14.28 after the company announced it will be acquired by an affiliate of Sun Capital Partners for $411 million.
Check out these big movers of the day
Equities Trading DOWN
Axsome Therapeutics, Inc. (NASDAQ:AXSM) shares tumbled 42% to $29.67 after the company said it received a letter from the FDA regarding the NDA for AXS-05 that stated the FDA “identified deficiencies that preclude labeling discussions at this time.” The company also released Q2 results.
Shares of Aterian, Inc. (NASDAQ:ATER) were down 40% to $4.9650 after the company reported worse-than-expected Q2 results.
BioVie Inc. (NASDAQ:BIVI) was down, falling 35% to $8.29 after the company priced its underwritten public offering of 2.5 million shares at $8.00 per share for gross proceeds of $20 million.
In commodity news, oil traded down 2.5% to $66.55, while gold traded down 1.8% to $1,730.70.
Silver traded down 3.7% Monday to $23.43 while copper fell 1.3% to $4.2905.
European shares were mixed today. The eurozone’s STOXX 600 gained 0.15%, the Spanish Ibex Index fell 0.15% and the German DAX 30 dropped 0.1%. Meanwhile, the London’s FTSE 100 rose 0.13%, French CAC 40 slipped 0.06% and Italy’s FTSE MIB gained 0.54%.
Germany’s trade surplus increased to EUR 16.3 billion in June from EUR 15.4 billion in the year-ago period, while current account surplus widened to EUR 22.5 billion from EUR 20.3 billion.
The number of job openings increased by 590,000 to 10.073 million in June.
Check out the full economic calendar here