Mid-Afternoon Market Update: NASDAQ Gains 0.2%; GoPro Shares Spike Higher

Toward the end of trading Monday, the Dow traded down 0.12 percent to 25,265.46 while the NASDAQ climbed 0.20 percent to 7,150.92. The S&P also fell, dropping 0.02 percent to 2,742.70.

Leading and Lagging Sectors

Monday afternoon, the technology sector proved to be a source of strength for the market. Leading the sector was strength from Sify Technologies Limited (ADR) (NASDAQ: SIFY ) and Seagate Technology PLC (NASDAQ: STX ).

In trading on Monday, healthcare shares fell 0.79 percent. Meanwhile, top losers in the sector included Natus Medical Inc (NASDAQ: BABY ), down 16 percent, and NuVasive, Inc. (NASDAQ: NUVA ) down 10 percent.

Top Headline

Kohl's Corporation (NYSE: KSS ) raised its fiscal 2017 earnings guidance and reported that its combined sales for November and December rose 6.9 percent year-over-year.

The company now projects FY17diluted earnings of $4.10 to $4.20 per share, compared to its earlier outlook of $3.72 to $3.92 per share. Analysts were projecting a profit of $3.64 per share for the year.

Equities Trading UP

My Size, Inc. (NASDAQ: MYSZ ) shares shot up 65 percent to $2.73 on no identifiable news. The Israel-based company offers solutions for online consumers and retailers. The stock's sudden move higher on heavier than normal volume to $1.495 was highlighted by Benzinga Pro on Friday.

Shares of Nevro Corp (NYSE: NVRO ) got a boost, shooting up 16 percent to $82.52 on strong sales outlook. The company also disclosed that it has received FDA approval for Senza II Spinal Cord Stimulation System delivering HF10 therapy.

Nuvectra Corp (NASDAQ: NVTR ) shares were also up, gaining 19 percent to $9.35 after the company issued a strong sales forecast.

Equities Trading DOWN

Axovant Sciences Ltd (NASDAQ: AXON ) shares dropped 51 percent to $2.65 after reporting a disappointing update to a clinical trial. The company said its Phase 2B HEADWAY and Pilot Phase 2 Gait and Balance Studies failed to reach its primary endpoints. As a result, the company's Intepirdine program will be discontinued.

Shares of GoPro Inc (NASDAQ: GPRO ) were down 19 percent to $6.09 after the company issued preliminary fourth quarter guidance that fell short of Wall Street's expectations. The company expects to report total fourth quarter sales of $340 million versus the Street's estimate of $474 million. A global workforce reduction plan was also announced.

Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY ) was down, falling around 21 percent to $44.76 after the company lowered its FY17 sales and net income guidance.

Commodities

In commodity news, oil traded up 0.08 percent to $61.49 while gold traded down 0.35 percent to $1,317.70.

Silver traded down 1.13 percent Monday to $17.09, while copper fell 0.09 percent to $3.2265.

Eurozone

European shares closed mostly higher today. The eurozone's STOXX 600 climbed 0.27 percent, the Spanish Ibex Index fell 0.12 percent, while Italy's FTSE MIB Index rose 0.37 percent. Meanwhile the German DAX gained 0.36 percent, and the French CAC 40 rose 0.30 percent while U.K. shares fell 0.36 percent.

Economics

Data on consumer credit for November will be released at 3:00 p.m. ET.

Atlanta Federal Reserve Bank President Raphael Bostic will speak in Atlanta at 12:40 p.m. ET.

Boston Federal Reserve Bank President Eric Rosengren is set to speak in Washington.

Profit with More New & Research . Gain access to a streaming platform with all the information you need to invest better today. Click here to start your 14 Day Trial of Benzinga Professional

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Read Again Mid-Afternoon Market Update: NASDAQ Gains 0.2%; GoPro Shares Spike Higher : http://ift.tt/2AGGRcG

Let's block ads! (Why?)