Mid-Morning Market Update: U.S. Markets Mixed; Halliburton Beats Q3 Estimates

Following the market opening Monday, the Dow traded up 0.08 percent to 23,347.97 while the NASDAQ declined 0.25 percent to 6,612.80. The S&P also fell, dropping 0.02 percent to 2,574.69.

Leading and Lagging Sectors

Monday morning, the non-cyclical consumer goods & services shares surged 0.53 percent. Meanwhile, top gainers in the sector included Petmed Express Inc PETS, up 24 percent, and Bridgford Foods Corporation BRID, up 4 percent.

In trading on Monday, telecommunications services shares fell 0.18 percent. Meanwhile, top losers in the sector included IDT Corporation IDT, down 3 percent, and Cellcom Israel Ltd. CEL down 2 percent.

Top Headline

Halliburton Company HAL reported stronger-than-expected profit for its third quarter on Monday.

Halliburton posted quarterly adjusted earnings of $0.42 per share on revenue of $5.44 billion. However, analysts expected earnings of $0.37 per share on revenue of $5.35 billion.

Equities Trading UP

Dextera Surgical Inc DXTR shares shot up 40 percent to $0.261 after surging 40.48 percent on Friday..

Shares of Aimmune Therapeutics Inc AIMT got a boost, shooting up 30 percent to $33.44 in response to failed DBVT peanut allergy trial.

Exactech, Inc. EXAC shares were also up, gaining 31 percent to $41.83 after the company agreed to be acquired by TPG Capital for $42 per share in cash.

Equities Trading DOWN

DBV Technologies SA - ADR DBVT shares dropped 48 percent to $25.16 after the company disclosed that its peanut allergy trial failed to meet primary endpoint.

Shares of Connecture Inc CNXR were down 39 percent to $0.300. Connecture reported that it will voluntarily delist from the NASDAQ for OTCQX Market.

Walter Investment Management Corp WAC was down, falling around 19 percent to $0.412. On Friday, Walter Investment Management disclosed that it has reached an agreement with term lenders and senior noteholders on financial restructuring.

Commodities

In commodity news, oil traded up 0.39 percent to $52.04 while gold traded down 0.34 percent to $1,276.10.

Silver traded down 0.81 percent Monday to $16.94, while copper rose 0.25 percent to $3.1735.

Eurozone

European shares were mostly higher today. The eurozone’s STOXX 600 climbed 0.21 percent, the Spanish Ibex Index fell 0.44 percent, while Italy’s FTSE MIB Index surged 0.19 percent. Meanwhile the German DAX gained 0.19 percent, and the French CAC 40 climbed 0.35 percent while U.K. shares rose 0.05 percent.

Economics

The Chicago Fed National Activity Index rose to a reading of +0.17 in September, compared to -0.37 in August.

The Treasury will auction 3-and 6-month bills at 11:30 a.m. ET.