Mid-Afternoon Market Update: 3D Systems Surges On Upbeat Earnings; Katapult Shares Drop

Toward the end of trading Tuesday, the Dow traded up 0.49% to 35,274.95 while the NASDAQ fell 0.41% to 14,799.03. The S&P also rose, gaining 0.18% to 4,440.12.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 35,950,250 cases with around 617,420 deaths. India confirmed a total of at least 31,998,150 cases and 428,680 deaths, while Brazil reported over 20,177,750 COVID-19 cases with 563,560 deaths. In total, there were at least 203,479,770 cases of COVID-19 worldwide with more than 4,306,390 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares rose 1.7% on Tuesday. Meanwhile, top gainers in the sector included Peabody Energy Corporation BTU, up 10% and Geospace Technologies Corporation GEOS up 6%.

In trading on Tuesday, information technology shares fell 0.7%.

Top Headline

Sysco Corporation SYY reported better-than-expected results for its fourth quarter on Tuesday.

Sysco reported quarterly earnings of $0.71 per share, exceeding market estimates of $0.60 per share. The company’s quarterly sales came in at $16.10 billion, versus analysts’ expectations of $14.23 billion.

Sysco raised its FY22 earnings guidance to $3.33 to $3.53 per share.

 

Equities Trading UP

Lightning eMotors, Inc. ZEV shares shot up 63% to $10.48 after the company reported a multi-year deal with Forest River for zero-emission bus technology, charging products and services. The deal is valued at up to $850 million.

Shares of Fulcrum Therapeutics, Inc. FULC got a boost, shooting 135% to $19.62 after the company announced positive interim results from the Phase 1 trial with FTX-6058 in healthy adult volunteers.

3D Systems Corporation DDD shares were also up, gaining 36% to $38.62 after the company reported better-than-expected results for its second quarter on Monday.

Check out these big movers of the day

Equities Trading DOWN

Katapult Holdings, Inc. KPLT shares tumbled 55% to $4.3750 after the company reported Q2 earnings results. The company posted a quarterly net loss of $8.1 million, versus net income of $5.1 million in the year-ago quarter

Shares of EyeGate Pharmaceuticals, Inc. EYEG were down 23% to $1.7550 after the company announced a $10.75 million registered direct offering priced at-the-market under Nasdaq rules.

comScore, Inc. SCOR was down, falling 22% to $3.1501 after the company reported a wider-than-expected Q2 loss.

Commodities

In commodity news, oil traded up 3.3% to $68.67, while gold traded up 0.2% to $1,730.40.

Silver traded up 0.2% Tuesday to $23.32 while copper rose 1.4% to $4.3495.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 gained 0.35%, the Spanish Ibex Index rose 0.37% and the German DAX 30 gained 0.16%. Meanwhile, the London’s FTSE 100 rose 0.40%, French CAC 40 rose 0.10% and Italy’s FTSE MIB gained 0.24%.

The ZEW Indicator of Economic Sentiment for the Eurozone dropped 18.5 points to a reading of 48.7 in August, while German ZEW Indicator of Economic Sentiment fell by 22.9 points to 40.4 in August.

Economics

The NFIB small business optimism index fell 2.8 points to 99.7 in July from 102.5 in June.

US nonfarm productivity increased by an annualized 2.3% in the second quarter, while unit labor costs rose an annualized 1%.

The Johnson Redbook Retail Sales Index surged 16.2% year-over-year during the first week of August.

Check out the full economic calendar here