Mid-Day Market Update: Allot Surges After Q4 Results; Rockwell Medical Shares Plunge

Midway through trading Tuesday, the Dow traded up 1.53% to 28834.00 while the NASDAQ rose 1.67% to 9,428.33. The S&P also rose, gaining 1.58% to 3,300.17.

Benzinga · 02/04/2020 17:10

Midway through trading Tuesday, the Dow traded up 1.53% to 28834.00 while the NASDAQ rose 1.67% to 9,428.33. The S&P also rose, gaining 1.58% to 3,300.17.

Leading and Lagging Sectors

Health care shares climbed 2% on Tuesday. Meanwhile, top gainers in the sector included Phibro Animal Health Corporation (NASDAQ: PAHC), up 16%, and Aduro BioTech, Inc. (NASDAQ: ADRO), up 22%.

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

Top Headline

On Monday, Alphabet Inc (NASDAQ: GOOGL) reported better-than-expected earnings for its fourth quarter, while sales missed estimates.

Alphabet reported quarterly earnings of $15.35 per share, which beat the analyst consensus estimate of $12.53. The company reported quarterly sales of $46.075 billion, which missed the analyst consensus estimate of $46.94 billion.

Equities Trading UP

Myomo, Inc. (NYSE: MYO) shares shot up 181% to $17.00 after the company's MyoPro was approved for reimbursement by German health insurer BARMER.

Shares of Digital Ally, Inc. (NASDAQ: DGLY) got a boost, shooting up 62% to $1.5550 after the company announced it has been awarded a three-year contract to supply 5,000 body cameras to its national police force for an expected total of $4 million.

Allot Ltd. (NASDAQ: ALLT) shares were also up, gaining 22% to $11.84 after the company reported upbeat Q4 results.

Equities Trading DOWN

Rockwell Medical, Inc. (NASDAQ: RMTI) shares tumbled 17% to $2.32 after the company priced 3.191 million share common stock offering for gross proceeds $7.5 million.

Shares of EZCORP, Inc. (NASDAQ: EZPW) were down 17% to $5.59 after reporting weak Q1 results.

Lianluo Smart Limited (NASDAQ: LLIT) was down, falling 24% to $1.64 after declining 26.1% on Monday.

Commodities

In commodity news, oil traded up 0.2% to $50.22, while gold traded down 1.7% to $1,555.70.

Silver traded down 0.7% Tuesday to $17.55, while copper rose 1.2% to $2.537.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1.58%, the Spanish Ibex Index rose 1.7%, while Italy’s FTSE MIB Index rose 1.73% Meanwhile, the German DAX gained 1.68%, and the French CAC 40 rose 1.6% while UK shares rose 1.49%.

Economics

The Johnson Redbook Retail Sales Index rose 5.7% year-over-year for the week ended February 1.

U.S. factory orders rose 1.8% in December, versus a revised 1.2% fall in November.