Market Outlook for Monday, February 18, 2019

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News - "Mid-Afternoon Market Update: Dow Up 350 Points; TriNet Group Shares Climb On Earnings Beat"

Toward the end of trading Friday, the Dow traded up 1.37 percent to 25,788.77 while the NASDAQ climbed 0.41 percent to 7,457.65. The S&P also rose, gaining 0.84 percent to 2,768.75.


Leading and Lagging Sectors

Friday afternoon, the financial shares climbed 1.9 percent. Meanwhile, top gainers in the sector included Civista Bancshares Inc (NASDAQ: CIVB) up 9 percent, and Radian Group Inc. (NYSE: RDN) up 9 percent.

In trading on Friday, utilities shares rose by just 0.1 percent.


Top Headline

Deere & Company (NYSE: DE) reported downbeat earnings for its first quarter, while sales exceeded estimates.

First-quarter earnings came in at $1.54 per share, versus estimates of $1.76 per share. Sales came in at $6.94 billion, versus estimates of $6.81 billion. The company cited higher material costs and customer tariff concern as weaknesses during the quarter.

Deere expects FY19 equipment sales to rise 7 percent year over year.

 

Equities Trading UP

Sky Solar Holdings Ltd (NASDAQ: SKYS) shares got a boost, shooting up 130 percent to $1.30 after Hudson Solar offered to resolve a default issue by either purchasing equity in certain Sky Solar projects for $240 million or acquiring the company for $2.15-$2.25 per share.

Shares of Talend SA ADR (NASDAQ: TLND) shot up 22 percent to $45.54 after reporting a narrower-than-expected Q4 loss.

TriNet Group, Inc. (NYSE: TNET) shares were also up, gaining 25 percent to $61.90 after the company beat Q4 earnings estimates.


Equities Trading DOWN


Marin Software Incorporated (NASDAQ: MRIN) shares dropped 29 percent to $4.71 after reporting fourth-quarter earnings of $(0.06), up from $(0.92) year-over-year. Sales came in at $15.825 million, down from $17.692 million year-over-year.

Shares of Newell Brands Inc. (NASDAQ: NWL) were down 20 percent to $17.38 after the company reported downbeat Q4 sales and issued weak sales outlook.

TrueCar, Inc. (NASDAQ: TRUE) was down, falling around 23 percent to $7.91 after the company missed Q4 earnings estimates and issued weak Q1 guidance.


Commodities

In commodity news, oil traded up 2.3 percent to $55.65 while gold traded up 0.5 percent to $1,320.40.


Silver traded up 0.8 percent Friday to $15.655, while copper rose 0.8 percent to $ 2.797.

 

Eurozone

European shares closed higher today. The eurozone's STOXX 600 rose 1.41 percent, the Spanish Ibex Index rose 1.91 percent, while Italy's FTSE MIB Index surged 1.9 percent. Meanwhile the German DAX climbed 1.89 percent, and the French CAC 40 rose 1.79 percent while U.K. shares rose 0.55 percent.

Economics

The Empire State manufacturing index increased 4.9 points to a reading of 8.8 in February. However, economists were expecting a reading of 7.6.

The import price index declined 0.5 percent in January, versus a drop of 1 percent in December. The export price index fell 0.60 percent for January.

U.S. industrial production fell 0.6 percent for January, versus economists' expectations for a 0.1 percent rise.

The University of Michigan's consumer sentiment index increased to 95.5 for February, versus a reading of 91.2 in January.

The total number of active U.S. oil rigs rose by 3 to 857 rigs this week, Baker Hughes Inc reported.

Chart
Today's Earnings
TickerCompany NameTime
ALIMAlimera Sciences4:00 PM
APYApergy4:00 PM
CLRContinental Resources4:00 PM
DOORMasonite International4:00 PM
OTTROtter Tail4:00 PM
RIGTransocean4:00 PM
SCIService International4:00 PM
SPNSuperior Energy Services4:00 PM
WTRAqua America4:00 PM
Today's Economic Events
Event NamePeriodYearTime
Building PermitsDec20198:30 AM
Building Permits (MoM)Dec 8:30 AM
Movers & Shakers - "52 Stocks Moving In Friday's Mid-Day Session"
Gainers
    Sky Solar Holdings Ltd (NASDAQ: SKYS) shares climbed 113.5 percent to $1.20 after Hudson Solar offered to resolve a default issue by either purchasing equity in certain Sky Solar projects for $240 million or acquiring the company for $2.15-$2.25 per share. SAExploration Holdings, Inc. (NASDAQ: SAEX) shares climbed 23.7 percent to $4.81 after Morgan Stanley holdings raised stake in the company, from 67.3K shares to 309.04K shares. TriNet Group, Inc. (NYSE: TNET) shares climbed 23.2 percent to $61.00 after the company beat Q4 earnings estimates. Talend S.A. (NASDAQ: TLND) gained 22.8 percent to $45.84 after reporting a narrower-than-expected Q4 loss. Computer Programs and Systems, Inc. (NASDAQ: CPSI) shares climbed 17.1 percent to $33.75 following upbeat Q4 earnings. Optical Cable Corporation (NASDAQ: OCC) shares gained 17 percent to $4.4452. Blink Charging Co. (NASDAQ: BLNK) shares rose 15.8 percent to $3.00. Performant Financial Corporation (NASDAQ: PFMT) gained 13.7 percent to $2.49. Synthorx, Inc. (NASDAQ: THOR) shares surged 12.8 percent to $19.65. Bioblast Pharma Ltd (NASDAQ: ORPN) shares rose 12.7 percent to $1.24 after the company announced a clinical collaboration with Team Sanfilippo to evaluate the safety and efficiency of Bioblast's treatment for Sanfilippo syndrome. Farmmi, Inc. (NASDAQ: FAMI) gained 11.7 percent to $3.05. American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) jumped 11.6 percent to $16.40 following better-than-expected quarterly earnings. Coda Octopus Group, Inc. (NASDAQ: CODA) surged 11.4 percent to $7.21. National Holdings Corporation (NASDAQ: NHLD) shares gained 11 percent to $3.4730 following Q1 results. RealNetworks Inc (NASDAQ: RNWK) shares jumped 11 percent to $3.24. MediciNova, Inc. (NASDAQ: MNOV) shares gained 10.5 percent to $7.54. Pyxus International Inc (NYSE: PYX) shares rose 10.4 percent to $25.13. Airgain Inc (NASDAQ: AIRG) shares rose 10.1 percent to $11.55 after reporting Q4 earnings. SPX Corporation (NYSE: SPXC) shares climbed 9.2 percent to $34.98 following Q4 results. Navigator Holdings Ltd (NYSE: NVGS) gained 8.8 percent to $10.92 after Morgan Stanley upgraded the company's stock from Equal-Weight to Overweight and raised its price target from $13 per share to $14 per share. Dana Inc (NYSE: DAN) gained 8.7 percent to $18.81 after the company beat Q4 EPS and sales estimates. The company also reaffirmed FY19 guidance. AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX) rose 8 percent to $2.84 after gaining 2.73 percent on Thursday. BioSig Technologies Inc (NASDAQ: BSGM) shares climbed 8 percent to $4.88. Arista Networks, Inc. (NYSE: ANET) rose 7.7 percent to $259.54 after reporting stronger-than-expected results for its fourth quarter. MRC Global Inc (NYSE: MRC) shares gained 7.6 percent to $17.51 following Q4 earnings. PDF Solutions, Inc. (NASDAQ: PDFS) climbed 7.4 percent to $11.50 after the company beat Q4 EPS and sales estimates. Innovative Industrial Properties, Inc. (NYSE: IIPR) shares rose 6.5 percent to $64.42. Innovative Industrial Properties will replace Amedisys in the S&P SmallCap 600 on Thursday, February 21. Inovalon Holdings Inc (NASDAQ: INOV) gained 6.4 percent to $15.12 after SunTrust Robinson Humphrey initiated coverage on the company's stock with a Buy rating and announced a $22 price target. Cerecor Inc. (NASDAQ: CERC) rose 6.2 percent to $4.78 after the company reported it received a US patent for CERC-301 for the treatment of Neurogenic Orthostatic Hypotension. Redfin Corp (NASDAQ: RDFN) rose 5.7 percent to $19.38 after reporting a fourth-quarter earnings beat. SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) shares rose 5.4 percent to $59.36 after the company reported upbeat Q4 results. Suncor Energy Inc. (NYSE: SU) rose 4 percent to $33.83 after Warren Buffett's Berkshire Hathaway took a position in the stock. NVIDIA Corporation (NASDAQ: NVDA) rose 3.6 percent to $160.07 after the company reported upbeat earnings for its fourth quarter and issued strong sales forecast for its current fiscal year.


Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

Check out these big penny stock gainers and losers

Losers
    American Resources Corporation (NYSE: AREC) shares tumbled 63.1 percent to $4.50. Marin Software Incorporated (NASDAQ: MRIN) shares dipped 26.8 percent to $4.83 after reporting fourth-quarter earnings of $(0.06), up from $(0.92) year-over-year. Sales came in at $15.825 million, down from $17.692 million year-over-year. Phunware Inc. (NASDAQ: PHUN) shares declined 24 percent to $38.00 after dropping 47.37 percent on Thursday. TrueCar, Inc. (NASDAQ: TRUE) fell 23 percent to $7.88 after the company missed Q4 earnings estimates and issued weak Q1 guidance. Arcimoto, Inc. (NASDAQ: FUV) dropped 20.4 percent to $5.65 after climbing 108.82 percent on Thursday. Newell Brands Inc. (NASDAQ: NWL) fell 19.3 percent to $17.51 after the company reported downbeat Q4 sales and issued weak sales outlook. XPO Logistics, Inc. (NYSE: XPO) fell 17.9 percent to $48.91 after the company missed Q4 EPS and sales estimates. AMN Healthcare Services, Inc. (NYSE: AMN) dropped 16 percent to $54.53 after the company missed Q4 sales estimates and issued weak Q1 sales guidance. Cooper-Standard Holdings Inc. (NYSE: CPS) fell 13.8 percent to $63.95 after the company reported downbeat Q4 results and issued FY19 sales guidance below estimates. Carver Bancorp, Inc. (NASDAQ: CARV) dropped 13.7 percent to $3.67. LogMeIn, Inc. (NASDAQ: LOGM) declined 13.7 percent to $82.84 after the company issued Q1 and FY19 guidance well below consensus estimates, offsetting a Q4 earnings beat. BioXcel Therapeutics, Inc. (NASDAQ: BTAI) tumbled 12.5 percent to $8.65. Daqo New Energy Corp. (NYSE: DQ) shares dropped 9.7 percent to $31.59. Acorda Therapeutics, Inc. (NASDAQ: ACOR) shares dipped 9 percent to $14.17 following Q4 results. SPI Energy Co., Ltd. (NASDAQ: SPI) shares fell 7.9 percent to $2.93. Spark Networks SE (NYSE: LOV) shares declined 7.5 percent to $10.51. BIOLASE, Inc. (NASDAQ: BIOL) shares dipped 7.4 percent to $2.13. Creative Realities, Inc. (NASDAQ: CREX) shares fell 7.2 percent to $2.5628. Genius Brands International Inc (NASDAQ: GNUS) dropped 4.6 percent to $2.10 after reporting a $2 million registered direct offering.