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Mid-Day Market Update: Dow Falls Over 100 Points; Genprex Shares Spike Higher

Midway through trading Tuesday, the Dow traded down 0.35% to 29,244.46 while the NASDAQ fell 0.20% to 9370.45. The S&P also fell, dropping 0.27% to 3,320.54.

Benzinga · 01/21/2020 17:07

Midway through trading Tuesday, the Dow traded down 0.35% to 29,244.46 while the NASDAQ fell 0.20% to 9370.45. The S&P also fell, dropping 0.27% to 3,320.54.

Leading and Lagging Sectors

Real estate shares climbed 0.3% on Tuesday. Meanwhile, top gainers in the sector included Safehold Inc (NYSE: SAFE), up 5%, and Realogy Holdings Corp (NYSE: RLGY), up 3%.

In trading on Tuesday, materials shares fell 1%.

Top Headline

Halliburton Company (NYSE: HAL) reported better-than-expected Q4 results.

Halliburton reported fourth-quarter earnings of $0.32 per share, beating the Street estimate of $0.29 per share. The company reported quarterly sales of $5.191 billion, beating the Street estimate of $5.11 billion.

Equities Trading UP

Genprex Inc (NASDAQ: GNPX) shares shot up 303% to $1.45 after the company announced that it has received FDA fast track designation for its Oncoprex Immunogene Therapy that targets lung cancer.

Shares of CSS Industries Inc (NYSE: CSS) got a boost, shooting up 99% to $9.31 after the company announced it will be acquired by IG Design Group for $9.40 per share in cash.

Novavax, Inc. (NASDAQ: NVAX) shares were also up, gaining 43% to $8.19 on continued momentum after the company reported that the FDA has granted Fast Track designation for its NanoFlu in older adults. Shares are also higher in sympathy with other vaccine-related companies amid an outbreak of a deadly virus in China.

Equities Trading DOWN

Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) shares tumbled 12% to $1.37 after the company filed for an offering of 3.2 million shares of its common stock.

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) were down 14% to $48.72. SVB Leerink initiated coverage on Arrowhead Pharmaceuticals with an Underperform rating and a $32 price target.

Advaxis, Inc. (NASDAQ: ADXS) was down, falling 14% to $1.045. Advaxis priced its 10 million share registered direct offering at $1.05 per share.

Commodities

In commodity news, oil traded down 0.1% to $58.50, while gold traded down 0.2% to $1,557.10.

Silver traded down 1.4% Tuesday to $17.815, while copper fell 1.6% to $2.8015.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 declined 0.27%, the Spanish Ibex Index fell 0.68%, while Italy’s FTSE MIB Index fell 0.75% Meanwhile, the German DAX dropped 0.04%, and the French CAC 40 fell 0.67% while UK shares fell 0.59%.

Economics

On the economics calendar Tuesday, there is no important data due out.