Mid-afternoon market update: Dow Jones increases 100 points; Zoom on video shares


Towards the end of Tuesday’s session, the Dow Jones traded up 0.29% to 35,723.97 while the NASDAQ fell 1.28% to 15,651.92. The S&P also fell, falling 0.27% to 4,670.49.

The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 48,748,550 cases with an estimated 794,860 deaths. India has confirmed a total of at least 34,526,480 cases and 466,140 deaths, while Brazil has reported more than 22,019,870 cases of COVID-19 with 612,840 deaths. In total, there have been at least 258,560,440 cases of COVID-19 worldwide with more than 5,178,050 deaths, according to data compiled by Johns Hopkins University.

Sectors ahead and behind

Energy stocks gained 2.8% on Tuesday. Meanwhile, the top industry winners included Newpark Resources, Inc. (NYSE: NR), up 10% and Peabody Energy Company (NYSE: BTU) up 11%.

In Tuesday’s trading, consumer discretionary stocks fell 1.3%.

Superior title

Best Buy Co., Inc. (NYSE: BBY) on Monday posted encouraging results for its third quarter.

Best Buy reported quarterly earnings of $ 2.08 per share, beating analysts’ estimates of $ 1.91 per share. The company’s quarterly sales were $ 11.91 billion, against expectations of $ 11.56 billion.

Best Buy increased its outlook for full-year enterprise comparable sales growth to a range of 10.5% to 11.5%.

Bullish stock trading

Pasithea Therapeutics Corp. (NASDAQ: KTTA) Shares jumped 238% to $ 7.46 after the company announced that its subsidiary Pasithea Clinics was approved to provide an esketamine nasal spray for the treatment of resistant depression in adults .

Actions of Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) got a boost, pulling 68% to $ 2.2399. The company filed a proxy for the annual meeting after the market closed on Monday.

Aptevo Therapeutics Inc. Shares (NASDAQ: APVO) also rose, gaining 161% to $ 16.93 after the company announced a clinical update for its Phase 1b extension trial evaluating APVO436 for acute myeloid leukemia (AML).

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Downward trading of stocks

Vinco Ventures, Inc. (NASDAQ: BBIG) stocks fell 23% to $ 3.03. Vinco Ventures reported a decline in sales in the third quarter of fiscal 21 of 11.5% year-on-year to $ 2.23 million.

Actions of Genius Sports Limited (NYSE: GENI) fell 31% to $ 9.45 after the company reported worse-than-expected third-quarter BPA results.

Zoom Video Communications, Inc. (NASDAQ: ZM) was down, falling 17% to $ 200.11. Zoom Video posted better-than-expected third quarter results on Monday. The company reported that its customers who contributed more than $ 100,000 in the past 12 months totaled 2,507, up 94% year-over-year. B of A Securities lowered Zoom from Buy to Neutral and lowered the price target from $ 385 to $ 270.

Merchandise

In the commodities news, oil traded up 2.5% to $ 78.69, while gold traded down 1.2% to $ 1,784.50.

Silver traded down 3.8% to $ 23.385 on Tuesday while copper rose 0.4% to $ 4.4140.

Eurozone

European stocks closed largely lower today. The Eurozone STOXX 600 fell 1.28%, the Spanish Ibex index fell 0.07%, and the German DAX 30 fell 1.11%. Meanwhile, London’s FTSE 100 rose 0.15%, the French CAC 40 fell 0.85% and the Italian FTSE MIB fell 1.62%.

Eurozone IHS Markit composite PMI climbed to 55.8 in November from the six-month low of 54.2 in October, while the manufacturing PMI rose to 58.6 in November from 58.3 in October. Germany’s composite PMI climbed to 52.8 in November from an eight-month low of 52.0 in October, while France’s composite PMI rose to 56.3 in November from 54.7 in October.

Economy

The IHS Markit manufacturing PMI fell to 59.1 in November, from a 10-month low of 58.4 in October, while the services PMI fell to 57.0 from 58.7.

The Richmond Fed manufacturing index fell to 8 in November from 9 the month before

Check out the full economic calendar here

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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