Mid-Morning Market Update: Markets Down; Schlumberger Earnings Top Views

Following the market opening Friday, the Dow traded down 0.24% to 34,632.21 while the NASDAQ fell 1.37% to 13,959.79. The S&P also fell, dropping, 0.88% to 4,443.39.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 70,544,860 cases with around 883,900 deaths. India confirmed a total of at least 38,566,020 cases and 488,420 deaths, while Brazil reported over 23,588,920 COVID-19 cases with 622,250 deaths. In total, there were at least 343,572,510 cases of COVID-19 worldwide with more than 5,595,280 deaths.

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Leading and Lagging Sectors

Consumer staples shares surged 0.9% on Friday. Meanwhile, top gainers in the sector included Natura &Co Holding S.A. NTCO, up 3% and Compañía Cervecerías Unidas S.A. CCU up 5%.

In trading on Friday, energy shares dipped 2.2%.

Top Headline

Schlumberger Limited SLB reported better-than-expected earnings for its fourth quarter.

Schlumberger posted quarterly earnings of $0.41 per share, beating analysts’ estimates of $0.34 per share. The company’s quarterly revenue came in at $6.22 billion, versus expectations of $5.34 billion.

 

Equities Trading UP

Bon Natural Life Limited BON shares shot up 24% to $3.98. Bon Natural Life recently received an initial purchase order from Chongqing Fudoudou Technology Co Limitedfor its FeatherPure Women's Personal Care Gel.

Shares of Save Foods, Inc. SVFD got a boost, shooting 22% to $5.06. The company’s CFO Vered Raz-Avayo recently tendered his resignation.

CymaBay Therapeutics, Inc. CBAY shares were also up, gaining 12% to $3.1350. CymaBay Therapeutics Chief Medical Officer Dennis D Kim acquired a total of 20000 shares at an average price of $3.04.

Check out these big movers of the day

Equities Trading DOWN

Netflix, Inc. NFLX shares tumbled 24% to $386.13. Netflix reported better-than-expected earnings for its fourth quarter, but issued weak subscriber growth forecast for the first quarter. Several analysts downgraded the stock following earnings report.

Shares of RYB Education, Inc. RYB were down 20% to $1.8516.

Cerberus Cyber Sentinel Corporation CISO was down, falling 18% to $3.96. Cerberus Cyber Sentinel recently said with the completion of the latest acquisition of True Digital Security into the company's family of cybersecurity businesses, its revenue for the trailing 12 months ended Sept. 30, 2021 surged to around $45.5 million.

 

Commodities

In commodity news, oil traded down 3.4% to $83.95, while gold traded down 0.6% to $1,832.30.

Silver traded down 1.4% Friday to $24.375 while copper fell 1.7% to $4.5045.

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Euro zone

European shares were lower today. The eurozone’s STOXX 600 dropped 1.5%, London’s FTSE 100 fell 0.9%, while Spain’s IBEX 35 Index fell 0.7%. The German DAX dropped 1.7%, French CAC 40 fell 1.5% and Italy’s FTSE MIB Index dipped 1.5%.

Retail sales in the UK fell 3.7% from a month ago in December, while GfK consumer confidence indicator fell to its lowest level in 11 months at minus 19 during January.

Economics

The index of leading economic indicators rose 0.8% for December.

The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

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