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News

Mid-Day Market Update: Dow Drops Over 100 Points; AMN Healthcare Services Shares Climb Following Strong Q4 Results

Author: Lisa Levin | February 18, 2022 01:05pm

US stocks traded lower midway through trading, with the Dow Jones dropping more than 100 points on Friday.

The Dow traded down 0.39% to 34,179.43 while the NASDAQ fell 1.07% to 13,569.88. The S&P also fell, dropping, 0.56% to 4,355.93.

Check this out: Boeing And 3 Other Stocks Bought By Insiders


Leading and Lagging Sectors


Communication services shares climbed 0.7% on Friday. Meanwhile, top gainers in the sector included System1, Inc. (NYSE:SST), up 9% and Iridium Communications Inc. (NASDAQ:IRDM) up 5%.


In trading on Friday, energy shares fell by 0.5%.


Top Headline


Deere & Company (NYSE:DE) reported better-than-expected results for its first quarter and raised profit guidance.

Deere posted quarterly earnings of $2.92 per share, beating market estimates of $2.26 per share. The company’s quarterly sales came in at $9.57 billion, versus expectations of $8.19 billion.

Deere boosted its FY22 net income guidance from $6.5 billion-$7 billion to $6.7 billion-$7.1 billion.

 

Equities Trading UP


T2 Biosystems, Inc. (NASDAQ:TTOO) shares shot up 11% to $0.4472 after the company reported better-than-expected Q4 EPS and sales results.


Shares of Realogy Holdings Corp. (NYSE:RLGY) got a boost, shooting 12% to $20.09 after the company announced upbeat Q4 results and reported a $300 million buyback.


AMN Healthcare Services, Inc. (NYSE:AMN) shares were also up, gaining 13% to $105.04 after the company reported better-than-expected Q4 EPS and sales results. The company also issued Q1 sales guidance above analyst estimates and added $300 million to its buyback.


Also check out: Executives Sell Over $50M Of 4 Stocks


Equities Trading DOWN

Guardion Health Sciences, Inc. (NASDAQ:GHSI) shares tumbled 45% to $0.2048. Guardion Health Sciences priced its 37 million share offering for gross proceeds $11.1 million.


Shares of Backblaze, Inc. (NASDAQ:BLZE) were down 30% to $9.72 after the company reported a wider-than-expected Q4 loss.


Doma Holdings Inc. (NYSE:DOMA) was down, falling 29% to $2.3850 after the company reported Q4 earnings results.

Also check out: U.S. Xpress Enterprises And 4 Other Penny Stocks Bought By Insiders


Commodities

In commodity news, oil traded down 0.7% to $91.16, while gold traded down 0.3% to $1,897.00.


Silver traded up 0.5% Friday to $24.005 while copper rose 0.5% to $4.5450.



Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.47%, London’s FTSE 100 rose 0.01%, while Spain’s IBEX 35 Index fell 0.65%. The German DAX fell 1.18%, French CAC 40 dropped 0.08% and Italy’s FTSE MIB Index fell 0.22%.

The Euro Area current account surplus shrank to EUR 35.6 billion in December from EUR 42.3 billion in the year-ago month. Retail sales in the UK rose 1.9% from a month earlier in January

French consumer price inflation rate was confirmed at 2.9% year-over-year in January, while unemployment rate in the country dropped to 7.4% in the fourth quarter from a revised 8.0% in the prior period.


Economics


U.S. existing home increased 6.7% to an annual rate of 6.5 million in January.


The index of leading economic indicators fell 0.3% for January.


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


Federal Reserve Governor Lael Brainard is set to speak at 1:30 p.m. ET.


Check out this: Boeing And 3 Other Stocks Bought By Insiders


COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 79,915,730 cases with around 955,490 deaths. India confirmed a total of at least 42,780,230 cases and 510,930 deaths, while Brazil reported over 27,941,470 COVID-19 cases with 641,990 deaths. In total, there were at least 420,751,330 cases of COVID-19 worldwide with more than 5,883,740 deaths.

Posted In: AMN BLZE DE DOMA GHSI IRDM RLGY SST TTOO

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