Mid-Afternoon Market Update: Contura Energy Drops Following Q3 Results; International Game Technology Shares Surge

Toward the end of trading Thursday, the Dow traded down 0.16% to 27,737.33 while the NASDAQ fell 0.17% to 8,467.87. The S&P also fell, dropping 0.11% to 3,090.67.

Leading and Lagging Sectors

Real estate shares climbed 0.5% on Thursday. Meanwhile, top gainers in the sector included Realogy Holdings Corp. RLGY, up 7%, and Uniti Group Inc. UNIT, up 7%.

In trading on Thursday, energy shares fell 0.3%.

Top Headline

Walmart Inc WMT reported upbeat Q3 earnings and raised FY20 earnings guidance.

Walmart reported quarterly earnings of $1.16 per share, beating analysts’ estimates of $1.09 per share. Its sales came in at $128 billion, versus expectations of $128.63 billion. Its total same-store sales increased 2.8% during the quarter. Walmart raised its fiscal year 2020 EPS guidance and said it now expects a slight increase over its fiscal year 2019 EPS.
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Equities Trading UP

Sienna Biopharmaceuticals Inc SNNA shares shot up 90% to $0.3032 after the company announced that Nasdaq granted the company's request for continued listing on the Nasdaq Stock Market.

Shares of Harrow Health, Inc. HROW got a boost, shooting up 20% to $5.54 following Q3 results.

International Game Technology PLC IGT shares were also up, gaining 22% to $15.68 after the company reported better-than-expected Q3 sales results. International Game Tech reaffirmed its FY19 adjusted EBITDA guidance of $1.675 billion to $1.735 billion.

Equities Trading DOWN

Contura Energy Inc CTRA shares tumbled 44% to $10.15 after the company reported downbeat Q3 results.

Shares of LiqTech International Inc LIQT were down 34% to $4.70 after the company announced Q3 results.

Lipocine Inc. LPCN was down, falling 44% to $0.3852 after the company reported pricing of public offering of common stock and warrants.

Commodities


In commodity news, oil traded down 0.4% to $56.90, while gold traded up 0.7% to $1,473.00.

Silver traded up 0.6% Thursday to $17.015, while copper fell 0.8% to $2.619.

Euro zone


European shares closed lower today. The eurozone’s STOXX 600 fell 0.36%, the Spanish Ibex Index fell 0.23%, while Italy’s FTSE MIB Index dropped 0.41%. Meanwhile, the German DAX dropped 0.38%, and the French CAC 40 fell 0.10% while UK shares fell 0.80%.

Economics

Initial jobless claims increased 14,000 to 225,000 in the latest week. However, economists were expecting new claims reach 215,000 last week.

The Producer Price Index rose 0.4% for October, versus economists’ expectations for a 0.2% increase.

U.S. crude supplies climbed 2.2 million barrels for the week ended November 8, the Energy Information Administration reported. However, analysts expected a gain of 1 million barrels. Gasoline supplies rose 1.9 million barrels, while distillate stocks slipped 2.5 million barrels last week.

Domestic supplies of natural gas gained 3 billion cubic feet for the week ended November 8, the Energy Information Administration reported. Analysts projected a rise of 7 billion cubic feet.

Data on money supply for the recent week will be released at 4:30 p.m. ET.

Dallas Federal Reserve Bank President Robert Kaplan will speak in Stephenville, Texas at 5:00 p.m. ET.