Market Outlook for Monday, December 9, 2019

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News - "Mid-Afternoon Market Update: Dow Surges Over 300 Points; Genesco Shares Jump On Upbeat Earnings"

Toward the end of trading Friday, the Dow traded up 1.25% to 28,022.14 while the NASDAQ rose 1.04% to 8,659.81. The S&P also rose, gaining 1.04% to 3,149.79.

Leading and Lagging Sectors

Energy shares climbed 2% on Friday. Meanwhile, top gainers in the sector included Sundance Energy, Inc. (NASDAQ: SNDE), up 24%, and Covia Holdings Corporation (NYSE: CVIA), up 16%.

In trading on Friday, utilities shares fell 0.1%.

Top Headline

Big Lots, Inc. (NYSE: BIG) reported upbeat results for its third quarter.

Big Lots posted quarterly loss of $0.18 per share, beating analysts’ estimates for a loss of $0.20 per share. Its sales came in at $1.168 billion, versus estimates of $1.16 billion.

Big Lots said it expects FY19 adjusted EPS of $3.70-$3.85, versus analysts’ estimates of $3.80.
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Equities Trading UP

Wellesley Bancorp, Inc. (NASDAQ: WEBK) shares shot up 30% to $42.10. Cambridge Trust announced plans to acquire Wellesley Bank for $122 million.

Shares of Genesco Inc. (NYSE: GCO) got a boost, shooting up 30% to $48.04 after the company reported better-than-expected Q3 EPS results. The company also issued FY20 EPS guidance above analyst estimates and Q3 comps up 3%.

Big Lots, Inc. (NYSE: BIG) shares were also up, gaining 29% to $24.77 after the company reported better-than-expected Q3 EPS and sales results.


Equities Trading DOWN

Correvio Pharma Corp. (NASDAQ: CORV) shares tumbled 33% to $1.445.

Shares of Yext, Inc. (NYSE: YEXT) were down 15% to $14.12 after the company reported worse-than-expected Q3 EPS results. The company also issued Q4 and FY20 EPS and sales guidance below analyst estimates.

PagerDuty, Inc. (NYSE: PD) was down, falling 11% to $22.19 after the company reported worse-than-expected Q3 EPS results. The company also issued Q4 and FY20 EPS guidance below analyst estimates.

Commodities


In commodity news, oil traded up 1.1% to $59.05, while gold traded down 1.1% to $1,466.40.

Silver traded down 2.6% Friday to $16.62, while copper rose 2.5% to $2.7305.

Euro zone


European shares closed higher today. The eurozone’s STOXX 600 gained 1.16%, the Spanish Ibex Index rose 1.51%, while Italy’s FTSE MIB Index rose 0.93%. Meanwhile, the German DAX gained 0.86%, and the French CAC 40 rose 1.21% while UK shares rose 1.43%.

Economics

The nonfarm payroll number came in at +266,000, above consensus economist expectations of +187,000. The unemployment rate dropped from 3.6% to just 3.5%, its lowest level in 50 years.

The University of Michigan's consumer sentiment index climbed to 99.2 in December, compared to 96.8 in November.

U.S. wholesale inventories rose 0.1% in October, versus a revised 0.7% decline in the prior month.

The total number of active U.S. oil rigs declined by 5 to 663 rigs this week, Baker Hughes Inc reported.

Data on consumer credit for October will be released at 3:00 p.m. ET.

Chart
Today's Earnings
TickerCompany NameTime
CASYCasey's General Stores4:00 PM
CDMOAvid Bioservices4:00 PM
COEChina Online Education Gr6:00 AM
GENCGencor Industries4:00 PM
GLBSGlobus Maritime4:00 PM
GNSSLRAD4:00 PM
JTJianpu Technology7:00 AM
LAKELakeland Industries4:00 PM
MDBMongoDB4:00 PM
MTNVail Resorts4:00 PM
PHRPhreesia4:00 PM
ROADConstruction Partners4:00 PM
SFIXStitch Fix4:00 PM
THOThor Industries8:00 AM
Today's Economic Events
Event NamePeriodYearTime
CB Employment Trends IndexNov201910:00 AM
Movers & Shakers - "Stocks That Hit 52-Week Lows On Friday"

Friday morning saw 103 companies set new 52-week lows.

Noteables:
    BYD (OTC: BYDDF) was the largest firm by market cap to set a new 52-week low. Minerco (OTC: MINE) was the smallest company when considering market cap to set a new 52-week low. Integrated Cannabis (OTC: ICNAF) shares actually gained 181.33%, rebounding after it reached its 52-week low.

The following stocks set new 52-week lows as of 10 a.m. ET on Friday:

    BYD (OTC: BYDDF) stock fell to a new 52-week low on Friday morning at $4.64, and later moved down 0.84% over the session. Ipsen (OTC: IPSEY) stock hit a yearly low of $22.25 this morning. The stock was down 18.53% for the day. Qurate Retail (NASDAQ: QRTEB) shares began trading with a new 52-week low of $8.60 on Friday. The stock was up 1.86% for the day. PagerDuty (NYSE: PD) shares set a new yearly low of $20.68 this morning. The stock was down 14.18% on the session. Sankyo Co (OTC: SKXJF) stock set a new 52-week low of $33.50 on Friday morning, with shares later moving down 6.94%. Yext (NYSE: YEXT) stock dropped to a yearly low on Friday morning of $12.89. Shares then traded down 15.6%. First Pacific Co (OTC: FPAFY) shares set a new 52-week low of $1.65 today morning. The stock traded 0.0% (flat) over the session. First Pacific Co (OTC: FPAFF) stock dropped to a yearly low on Friday morning of $0.34. Shares then traded down 1.16%. Hurricane Energy (OTC: HRCXF) stock dropped to a yearly low on Friday morning of $0.44. Shares then traded 0.0% (flat). GCL-Poly Energy Holdings (OTC: GCPEF) stock fell to a new 52-week low on Friday morning at $0.03, and later moved down 5.71% over the session. Gannett Co (NYSE: GCI) shares began trading with a new 52-week low of $6.13 on Friday. The stock was up 0.08% for the day. Advanz Pharma (OTC: CXRXF) shares began trading with a new 52-week low of $7.18 on Friday. The stock was down 25.81% for the day. Weidai (NYSE: WEI) shares fell to $4.41 on Friday morning, setting a new 52-week low. Shares then moved down 6.62%. Jumei Intl Hldg (NYSE: JMEI) shares set a new yearly low of $1.78 this morning. The stock was down 1.85% on the session. Origin House (OTC: ORHOF) shares reached a new 52-week low of $2.68 on Friday morning, later moving down 0.73% over the rest of the day. De La Rue (OTC: DELRF) stock moved down 2.31% over Friday's trading session after setting a new 52-week low of $1.69 to open trading. CV Sciences (OTC: CVSI) stock set a new 52-week low of $0.93 on Friday morning, with shares later moving down 4.47%. Sylogist (OTC: SYZLF) stock hit a yearly low of $7.56 this morning. The stock was 0.0% (flat) for the day. Greenlane Holdings (NASDAQ: GNLN) stock hit a yearly low of $2.81 this morning. The stock was down 2.43% for the day. CytoSorbents (NASDAQ: CTSO) stock hit a yearly low of $3.57 this morning. The stock was down 3.32% for the day. Elixinol Global (OTC: ELLXF) shares were down 4.62% over the session, having began the day with a 52-week low of $0.62. Synalloy (NASDAQ: SYNL) stock hit a new 52-week low of $11.58 to begin trading. The stock was down 1.5% on the session. TerrAscend (OTC: TRSSF) shares hit a yearly low of $2.03 today morning. The stock was down 3.09% on the session. Global Payout (OTC: GOHE) shares fell to $0.04 on Friday morning, setting a new 52-week low. Shares then moved down 2.76%. Blue Hat Interactive (NASDAQ: BHAT) shares set a new yearly low of $2.47 this morning. The stock was down 11.4% on the session. Medical Facilities (OTC: MFCSF) shares began trading with a new 52-week low of $3.28 on Friday. The stock was up 0.44% for the day. Enthusiast Gaming (OTC: ENGMF) shares set a new 52-week low of $1.26 today morning. The stock traded down 6.25% over the session. Correvio Pharma (NASDAQ: CORV) shares were down 36.11% over the session, having began the day with a 52-week low of $1.40. Vireo Health Intl (OTC: VREOF) shares were down 0.01% over the session, having began the day with a 52-week low of $0.88. Mene (OTC: MENEF) shares set a new yearly low of $0.21 this morning. The stock was down 0.5% on the session. Namaste Technologies (OTC: NXTTF) shares began trading with a new 52-week low of $0.23 on Friday. The stock was down 1.05% for the day. Independence Contract (NYSE: ICD) stock hit a new 52-week low of $0.66 to begin trading. The stock was down 1.44% on the session. Apollo Endosurgery (NASDAQ: APEN) shares moved down 5.66% on Friday's session after setting a new 52-week low of $2.50 to begin trading. Roots (OTC: RROTF) stock hit $1.52 on Friday morning, setting a new 52-week low. The stock traded down 2.56% over the course of the day. TransEnterix (AMEX: TRXC) shares moved down 2.81% on Friday's session after setting a new 52-week low of $0.18 to begin trading. Performant Financial (NASDAQ: PFMT) stock hit a yearly low of $0.77 this morning. The stock was down 3.14% for the day. China SXT Pharmaceuticals (NASDAQ: SXTC) shares moved down 7.38% on Friday's session after setting a new 52-week low of $0.71 to begin trading. Patriot National Bancorp (NASDAQ: PNBK) shares began trading with a new 52-week low of $12.01 on Friday. The stock was down 0.08% for the day. ImageWare Systems (OTC: IWSY) stock fell to a new 52-week low on Friday morning at $0.34, and later moved down 0.64% over the session. Lexaria Bioscience (OTC: LXRP) shares began trading with a new 52-week low of $0.35 on Friday. The stock was down 4.46% for the day. Heron Resources (OTC: HRLDF) shares fell to $0.06 on Friday morning, setting a new 52-week low. Shares then moved 0.0% (flat). Arianne Phosphate (OTC: DRRSF) shares moved down 3.85% on Friday's session after setting a new 52-week low of $0.19 to begin trading. MJardin Group (OTC: MJARF) stock fell to a new 52-week low of $0.13 on Friday morning. Shares of the company traded down 1.43% on the day. Peninsula Energy (OTC: PENMF) stock fell to a new 52-week low of $0.10 on Friday morning. Shares of the company traded down 28.57% on the day. Bitcoin Services (OTC: BTSC) stock dropped to a yearly low on Friday morning of $0.02. Shares then traded up 2.87%. Cipher Pharmaceuticals (OTC: CPHRF) stock hit a new 52-week low of $0.85 to begin trading. The stock was down 22.14% on the session. Cannabics Pharmaceuticals (OTC: CNBX) shares hit a yearly low of $0.10 today morning. The stock was down 7.94% on the session. Orvana Minerals (OTC: ORVMF) shares fell to $0.09 on Friday morning, setting a new 52-week low. Shares then moved up 0.55%. Weekend Unlimited (OTC: WKULF) stock fell to a new 52-week low on Friday morning at $0.01, and later moved down 0.25% over the session. iQSTEL (OTC: IQST) shares fell to $0.09 on Friday morning, setting a new 52-week low. Shares then moved down 40.07%. Integrated Cannabis (OTC: ICNAF) shares were up 9.71% over the session, having began the day with a 52-week low of $0.11. Next Green Wave Holdings (OTC: NXGWF) shares moved up 3.44% on Friday's session after setting a new 52-week low of $0.08 to begin trading. EVIO (OTC: EVIO) stock hit $0.06 on Friday morning, setting a new 52-week low. The stock traded up 13.25% over the course of the day. Lotus Ventures (OTC: LTTSF) shares set a new 52-week low of $0.07 today morning. The stock traded up 181.33% over the session. Petrolia Energy (OTC: BBLS) shares began trading with a new 52-week low of $0.03 on Friday. The stock was down 14.53% for the day. Telson Mining (OTC: SOHFF) shares began trading with a new 52-week low of $0.09 on Friday. The stock was down 2.22% for the day. Plymouth Rock (OTC: PLRTF) stock fell to a new 52-week low of $0.28 on Friday morning. Shares of the company traded 0.0% (flat) on the day. Chemesis International (OTC: CADMF) shares moved down 2.85% on Friday's session after setting a new 52-week low of $0.11 to begin trading. ERBA Diagnostics (OTC: ERBA) shares moved down 13.91% on Friday's session after setting a new 52-week low of $0.13 to begin trading. Koios Beverage (OTC: KBEVF) stock hit a new 52-week low of $0.11 to begin trading. The stock was down 5.75% on the session. Vertical Computer Systems (OTC: VCSY) shares fell to $0.0034 on Friday morning, setting a new 52-week low. Shares then moved down 21.67%. Capricor Therapeutics (NASDAQ: CAPR) stock fell to a new 52-week low on Friday morning at $1.44, and later moved down 10.83% over the session. GBLT (OTC: GBLTF) stock hit a new 52-week low of $0.04 to begin trading. The stock was down 1.48% on the session. KEFI Minerals (OTC: KFFLF) shares set a new yearly low of $0.01 this morning. The stock was down 52.09% on the session. Mobi724 Glb Solns (OTC: MOBIF) shares began trading with a new 52-week low of $0.03 on Friday. The stock was down 1.75% for the day. KinerjaPay (OTC: KPAY) stock set a new 52-week low of $0.06 on Friday morning, with shares later moving down 12.31%. Tonix Pharmaceuticals (NASDAQ: TNXP) shares reached a new 52-week low of $1.04 on Friday morning, later moving down 0.09% over the rest of the day. Snipp Interactive (OTC: SNIPF) shares were down 30.66% over the session, having began the day with a 52-week low of $0.01. EP Energy (OTC: EPEGQ) shares moved down 3.81% on Friday's session after setting a new 52-week low of $0.01 to begin trading. Akers Biosciences (NASDAQ: AKER) shares set a new yearly low of $3.00 this morning. The stock was down 4.91% on the session. Wellness Center USA (OTC: WCUI) stock dropped to a yearly low on Friday morning of $0.03. Shares then traded down 1.67%. Northern Graphite (OTC: NGPHF) stock moved down 26.43% over Friday's trading session after setting a new 52-week low of $0.04 to open trading. Safe-T Group (NASDAQ: SFET) shares began trading with a new 52-week low of $4.41 on Friday. The stock was down 5.79% for the day. White Metal Resources (OTC: TNMLF) stock moved 0.0% (flat) over Friday's trading session after setting a new 52-week low of $0.0001 to open trading. Life On Earth (OTC: LFER) stock hit a yearly low of $0.03 this morning. The stock was down 25.0% for the day. Greater Cannabis Co (OTC: GCAN) shares set a new yearly low of $0.03 this morning. The stock was up 9.0% on the session. Latteno Food (OTC: LATF) shares were down 99.0% over the session, having began the day with a 52-week low of $0.000001. RISE Life Science (OTC: MCUIF) stock fell to a new 52-week low on Friday morning at $0.01, and later moved down 62.73% over the session. Surge Exploration (OTC: SURJF) stock fell to a new 52-week low of $0.01 on Friday morning. Shares of the company traded up 21.24% on the day. Generation Alpha (OTC: GNAL) shares were up 8.33% over the session, having began the day with a 52-week low of $0.01. Cardero Resource (OTC: CDYCF) shares fell to $0.01 on Friday morning, setting a new 52-week low. Shares then moved down 44.12%. Fintech Select (OTC: SLXXF) stock set a new 52-week low of $0.01 on Friday morning, with shares later moving down 0.72%. Union Dental Holdings (OTC: UDHI) stock moved down 12.5% over Friday's trading session after setting a new 52-week low of $0.0007 to open trading. RespireRx Pharmaceuticals (OTC: RSPI) stock hit a new 52-week low of $0.11 to begin trading. The stock was down 52.75% on the session. GeoPetro Resources (OTC: GEOR) shares began trading with a new 52-week low of $0.001 on Friday. The stock was down 9.09% for the day. Trans-Pacific Aerospace (OTC: TPAC) stock fell to a new 52-week low of $0.000001 on Friday morning. Shares of the company traded 0.0% (flat) on the day. Digatrade Financial (OTC: DIGAF) stock moved 0.0% (flat) over Friday's trading session after setting a new 52-week low of $0.0009 to open trading. Visible Gold Mines (OTC: VGMIF) stock dropped to a yearly low on Friday morning of $0.03. Shares then traded down 24.16%. Trans Global Group (OTC: TGGI) stock hit $0.000001 on Friday morning, setting a new 52-week low. The stock traded down 99.0% over the course of the day. Regen BioPharma (OTC: RGBP) stock hit a yearly low of $0.0002 this morning. The stock was 0.0% (flat) for the day. Grow Solutions Holdings (OTC: GRSO) stock hit $0.0016 on Friday morning, setting a new 52-week low. The stock traded 0.0% (flat) over the course of the day. Mountainview Energy (OTC: MNVWF) shares moved down 87.5% on Friday's session after setting a new 52-week low of $0.0001 to begin trading. M Line Holdings (OTC: MLHC) stock fell to a new 52-week low on Friday morning at $0.000001, and later moved down 99.0% over the session. Drinks America Holdings (OTC: DKAM) stock hit $0.000001 on Friday morning, setting a new 52-week low. The stock traded down 99.0% over the course of the day. RightSmile (OTC: RIGH) shares fell to $0.000001 on Friday morning, setting a new 52-week low. Shares then moved 0.0% (flat). For The Earth (OTC: FTEG) shares hit a yearly low of $0.000001 today morning. The stock was down 99.0% on the session. Viavid Broadcasting (OTC: VVDB) stock fell to a new 52-week low of $0.0021 on Friday morning. Shares of the company traded down 35.48% on the day. New America Energy (OTC: NECA) stock fell to a new 52-week low on Friday morning at $0.000001, and later moved 0.0% (flat) over the session. Crumbs Bake Shop (OTC: CRMBQ) shares fell to $0.0017 on Friday morning, setting a new 52-week low. Shares then moved down 56.41%. Titanium Gr (OTC: TTNUF) shares hit a yearly low of $0.0001 today morning. The stock was down 80.0% on the session. Wanderport (OTC: WDRP) stock set a new 52-week low of $0.00305 on Friday morning, with shares later moving up 6.0%. Seven Arts Entertainment (OTC: SAPX) shares set a new 52-week low of $0.000001 today morning. The stock traded down 99.0% over the session. Minerco (OTC: MINE) shares set a new 52-week low of $0.000001 today morning. The stock traded down 98.0% over the session.


Stay with Benzinga for further updates about these companies and many others going forward.