Mid-Afternoon Market Update: Sientra Rises Following Q3 Results; AnaptysBio Shares Slide

Toward the end of trading Friday, the Dow traded down 0.16% to 27629.19 while the NASDAQ rose 0.15% to 8447.00. The S&P also fell, dropping 0.02% to 3084.49.

Benzinga · 11/08/2019 19:22

Toward the end of trading Friday, the Dow traded down 0.16% to 27629.19 while the NASDAQ rose 0.15% to 8447.00. The S&P also fell, dropping 0.02% to 3084.49.

Leading and Lagging Sectors

Health care shares climbed 0.5% on Friday. Meanwhile, top gainers in the sector included Clovis Oncology, Inc. (NASDAQ: CLVS), up 37%, and Sientra, Inc. (NASDAQ: SIEN), up 32%.

In trading on Friday, energy shares fell 1%.

Top Headline

Duke Energy Corporation (NYSE: CAH) reported upbeat earnings for its third quarter, while sales missed views.

Duke Energy reported quarterly earnings of $1.82 per share, which beat the analyst consensus estimate of $1.68 per share. The company posted quarterly sales of $6.94 billion, versus analysts’ estimates of $7.11 billion.

Duke Energy narrowed its FY19 adjusted EPS guidance from $4.80-$5.20 to $4.95-$5.15.

Equities Trading UP

Sientra, Inc. (NASDAQ: SIEN) shares shot up 30% to $9.10 after the company reported better-than-expected Q3 EPS and sales results. The company also issued FY19 sales guidance above analyst estimates.

Shares of Ubiquiti Inc. (NYSE: UI) got a boost, shooting up 34% to $174.65 after the company reported Q1 EPS and sales results up from last year.

Leaf Group Ltd. (NYSE: LEAF) shares were also up, gaining 32% to $4.20 after reporting Q3 results.

Equities Trading DOWN

AnaptysBio, Inc. (NASDAQ: ANAB) shares tumbled 71% to $10.61 after the company reported that its Etokimab ATLAS Phase 2b trial in moderate-to-sever Atopic Dermatitis failed to meet its primary endpoint. The company also reported Q3 EPS down from last year.

Shares of Red Lion Hotels Corporation (NYSE: RLH) were down 54% to $2.97 after the company reported Q3 results and announced CEO resignation.

Unit Corporation (NYSE: UNT) was down, falling 46% to $1.0950 following Q3 results.

Commodities

In commodity news, oil traded up 0.1% to $57.20, while gold traded down 0.1% to $1,464.50.

Silver traded down 0.7% Friday to $16.885, while copper fell 1.5% to $2.6865.

Euro zone

European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.28%, the Spanish Ibex Index fell 0.57%, while Italy’s FTSE MIB Index climbed 0.13%. Meanwhile, the German DAX dropped 0.46%, and the French CAC 40 fell 0.02% while UK shares fell 0.63%.

Economics

The University of Michigan's consumer sentiment index climbed to 95.7 in November, versus a reading of 95.5 in October.

U.S. wholesale inventories fell 0.4% in September, versus an initial estimate of a 0.3% decline.

The total number of active U.S. oil rigs slipped by 7 to 684 rigs this week, Baker Hughes Inc reported.

New York Federal Reserve Bank President John Williams will speak in New York at 8:00 p.m. ET.

Federal Reserve Member of the Board of Governors Lael Brainard is set to speak in San Francisco, CA at 8:35 p.m. ET.