Mid-Day Market Update: Everspin Jumps After Q3 Results; Acutus Medical Shares Plummet

Midway through trading Friday, the Dow traded up 0.31% to 36,031.95 while the NASDAQ rose 0.54% to 15,788.64. The S&P also rose, gaining 0.43% to 4,669.15.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 47,693,510 cases with around 780,770 deaths. India confirmed a total of at least 34,414,180 cases and 462,690 deaths, while Brazil reported over 21,926,520 COVID-19 cases with 610,320 deaths. In total, there were at least 252,785,840 cases of COVID-19 worldwide with more than 5,098,390 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Communication services shares gained by 1% on Friday. Meanwhile, top gainers in the sector included PLAYSTUDIOS, Inc. MYPS, up 18% and MediaAlpha, Inc. MAX up 9%.

In trading on Friday, energy shares fell 0.4%.

Top Headline

AstraZeneca PLC AZN said its COVID-19 vaccine made a small contribution to earnings in Q3. It expects the shot to move to "modest profitability" on new orders.

AstraZeneca reported quarterly core earnings of $1.08 per share, beating analysts’ estimates of $0.62 per share. Total revenue jumped 50% year-over-year to $9.87 billion, in line with the consensus. In Q3, the Company posted $1.05 billion in COVID-19 vaccine sales.

AstraZeneca reaffirmed its FY21 adjusted EPS guidance at $5.05 - $5.40.

 

Equities Trading UP

Everspin Technologies, Inc. MRAM shares shot up 43% to $9.40 after the company reported better-than-expected Q3 results and issued Q4 sales guidance above estimates.

Shares of Kura Sushi USA, Inc. KRUS got a boost, shooting 24% to $67.61 following narrower-than-expected quarterly loss.

Brilliant Earth Group, Inc. BRLT shares were also up, gaining 26% to $17.83 after reporting better-than-expected Q3 results.

Check out these big movers of the day

Equities Trading DOWN

Team, Inc. TISI shares tumbled 43% to $1.5350 after the company reported worse-than-expected Q3 EPS and sales results.

Shares of Acutus Medical, Inc. AFIB were down 43% to $3.7750. Acutus Medical reported third-quarter revenues of $4.6 million, up from $3.2 million a year ago. The non-GAAP loss per share narrowed from 90 cents to 87 cents. The results trailed expectations. Citing COVID-19 related uncertainty, the company lowered its full-year revenues guidance to $17 million to $17.5 million, below the $22.46 million consensus estimates.

Oncorus, Inc. ONCR was down, falling 43% to $6.28. Oncorus reported initial safety, tolerability, immune activation and positive clinical response data from its ongoing Phase 1 clinical study of ONCR-177, its lead viral immunotherapy candidate, at the SITC 2021.

Commodities

In commodity news, oil traded down 0.8% to $80.96, while gold traded down 0.1% to $1,863.50.

Silver traded down 0.1% Friday to $25.29 while copper rose 0.6% to $4.4235.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.17%, the Spanish Ibex Index fell 0.29% and the German DAX 30 gained 0.04%. Meanwhile, the London’s FTSE 100 fell 0.58%, French CAC 40 rose 0.32% and Italy’s FTSE MIB rose 0.17%.

Spain's annual inflation accelerated for a fourth consecutive month to 5.4% in October, while wholesale prices in Germany surged 15.2% year-over-year in October.

Economics

The University of Michigan's consumer sentiment index dropped to 66.8 in November from 71.7 in October.

The number of job openings fell by 191,000 from a month ago to 10.4 million in September.

The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

Check out the full economic calendar here