Mid-Day Market Update: Fuwei Films Jumps Following Q1 Results; Oasis Midstream Partners Shares Plunge

Midway through trading Friday, the Dow traded up 0.56% to 34,389.25 while the NASDAQ fell 0.02% to 14,366.72. The S&P also rose, gaining 0.21% to 4,275.24.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,577,710 cases with around 602,830 deaths. India confirmed a total of at least 30,082,770 cases and 391,980 deaths, while Brazil reported over 18,169,880 COVID-19 cases with 507,100 deaths. In total, there were at least 179,635,440 cases of COVID-19 worldwide with more than 3,892,810 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Financial shares rose by 0.7% on Friday. Meanwhile, top gainers in the sector included X Financial XYF, up 19%, and Vericity, Inc. VERY, up 21%.

In trading on Friday, communication services shares fell 0.2%.

Top Headline

CarMax, Inc. KMX reported stronger-than-expected results for its first quarter.

CarMax reported quarterly earnings of $2.63 per share, exceeding analysts’ estimates of $1.63 per share. The company’s quarterly sales came in at $7.7 billion, versus expectations of $6.24 billion.

CarMax reaffirmed long-term targets for sales of $33 billion.

 

Equities Trading UP

IKONICS Corporation IKNX shares shot up 83% to $20.64 after the company reported a merger deal with TeraWulf.

Shares of Osmotica Pharmaceuticals plc OSMT got a boost, shooting 38% to $3.93 after the company agreed to sell its portfolio of legacy products and Georgia manufacturing facility, for up to $170 million, to Alora Pharmaceuticals LLC.

Fuwei Films (Holdings) Co., Ltd. FFHL shares were also up, gaining 36% to $12.09 after the company reported a sharp rise in Q1 earnings and sales.

Check out these big movers of the day

Equities Trading DOWN

Globus Maritime Limited GLBS shares tumbled 26% to $4.1021 after the company priced its 10 million share offering at $5 per share.

Shares of Oasis Midstream Partners LP OMP were down 14% to $24.15. Oasis Midstream Partners priced its public offering of 3.623 million common units

CalAmp Corp. CAMP was down, falling 11% to $12.79 after reporting Q1 results.

Commodities

In commodity news, oil traded up 0.6% to $73.72, while gold traded up 0.5% to $1,786.20.

Silver traded up 0.7% Friday to $26.235 while copper fell 0.6% to $4.2850.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 gained 0.04%, the Spanish Ibex Index fell 0.11% and the German DAX 30 fell 0.04%. Meanwhile, the London’s FTSE 100 rose 0.53%, French CAC 40 dropped 0.26% and Italy’s FTSE MIB gained 0.12%.

Spain's producer price inflation increased to 15.3% year-over-year in May from a revised 13% in April. German GfK consumer climate indicator rose to -0.3 heading into July. The UK’s GfK consumer confidence stood at -9 for June. The consumer confidence indicator in Italy surged 4.5 points to a reading of 115.1 in June, while manufacturing confidence index increased to 114.8 from 110.9. Loans to households in the Eurozone increased 3.9% in May.

Economics

Personal income fell 2% month-over-month, while personal spending came in unchanged for May.

The University of Michigan's consumer sentiment index revised lower to 85.5 in June versus a preliminary reading of 86.4.

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

Federal Reserve Bank of Boston President Eric Rosengren will speak at 1:00 p.m. ET.

Federal Reserve Bank of New York President John Williams is set to speak at 3:00 p.m. ET.

Check out the full economic calendar here