Mid-Afternoon Market Update: Dow Rises 150 Points; Enphase Energy Shares Jump On Earnings Beat

Toward the end of trading Wednesday, the Dow traded up 0.51% to 29382 while the NASDAQ rose 0.96% to 9,826.65. The S&P also rose, gaining 0.59% to 3,390.06.

Leading and Lagging Sectors

Energy shares climbed 1.3% on Wednesday. Meanwhile, top gainers in the sector included Solaris Oilfield Infrastructure, Inc. SOI, up 12%, and Montage Resources Corporation MR, up 9%.

In trading on Wednesday, real estate shares fell 1%.

Top Headline

DISH Network Corporation DISH reported better-than-expected results for its fourth quarter.

DISH posted Q4 earnings of $0.69 per share, beating analysts’ estimates of $0.59 per share. Its sales came in at $3.24 billion, topping expectations of $3.15 billion. Net pay-TV subscribers fell by 194,000 during the quarter.


Equities Trading UP

Enphase Energy, Inc. ENPH shares shot up 38% to $55.62 after the company reported better-than-expected Q4 results.

Shares of Myomo, Inc. MYO got a boost, shooting 42% to $7.78 after the company signed a nationwide payer network agreement with HOMELINK.

ShotSpotter, Inc. SSTI shares were also up, gaining 29% to $36.51 after the company reported better-than-expected Q4 results. The company also reaffirmed FY20 guidance.


Equities Trading DOWN

Groupon, Inc. GRPN shares tumbled 41% to $1.8098 after the company reported worse-than-expected Q4 results. The company announced it plans to exit the goods industry.

Shares of Blue Apron Holdings, Inc. APRN were down 21% to $3.46 after the company reported weak quarterly earnings and disclosed that it is evaluating a range of strategic alternatives.

Scientific Games Corporation SGMS was down, falling 19% to $23.76 after the company reported Q4 results.

Commodities


In commodity news, oil traded up 2.4% to $53.28, while gold traded up 0.5% to $1,611.90.

Silver traded up 1% Wednesday to $18.325, while copper rose 0.1% to $2.6065.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.83% the Spanish Ibex Index rose 0.78%, while Italy’s FTSE MIB Index climbed 1.01% Meanwhile, the German DAX gained 0.79%, and the French CAC 40 rose 0.90% while UK shares rose 1.02%.

Economics

U.S. housing starts declined 3.6% at an annual rate of 1.567 million units in January, while building permits climbed 9.2% at an annual rate of 1,551 thousand.

The Producer Price Index increased 0.5% for January, following a revised 0.2% rise for December.

The Federal Open Market Committee issued minutes of its latest meeting.

Federal Reserve Bank of Richmond President Thomas Barkin is set to speak at 4:30 p.m. ET.

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsEurozoneCommoditiesGlobalIntraday UpdateMarketsInformation TechnologyMid-Afternoon Market UpdateSemiconductors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...