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Mid-Morning Market Update: Markets Mixed; Campbell Soup Profit Misses Views


Benzinga | Jun 9, 2021 10:13AM EDT

Mid-Morning Market Update: Markets Mixed; Campbell Soup Profit Misses Views

Following the market opening Wednesday, the Dow traded down 0.02% to 34,592.56 while the NASDAQ rose 0.19% to 13,951.02. The S&P also rose, gaining 0.04% to 4,229.15.The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,393,800 cases with around 598,330 deaths. India confirmed a total of at least 29,089,060 cases and 353,520 deaths, while Brazil reported over 17,037,120 COVID-19 cases with 476,790 deaths. In total, there were at least 174,041,980 cases of COVID-19 worldwide with more than 3,748,860 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Health care shares climbed 0.8% on Wednesday. Meanwhile, top gainers in the sector included ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP), up 16%, and Checkpoint Therapeutics, Inc. (NASDAQ:CKPT), up 28%.

In trading on Wednesday, financial shares fell 1%.

Top HeadlineCampbell Soup Company (NYSE:THO) reported weaker-than-expected results for its third quarter.Campbell Soup reported quarterly earnings of $0.57 per share, missing analysts' estimates of $0.66 per share. The company's quarterly sales came in at $1.98 billion, versus expectations of $2.00 billion.Campbell Soup lowered its FY21 EPS guidance from $3.03-$3.11 to $2.90-$2.93. The company expects FY21 net sales to decrease 3%-3.5%. The company also reported a $250 million buyback plan. Equities Trading UP

Aethlon Medical, Inc. (NASDAQ:AEMD) shares shot up 345% to $9.83 in reaction to Zacks Article 'AEMD: First Ever In Vivo Removal Of COVID Virus From Bloodstream Of An Infected Patient.' The company recently announced the positive results from using its Hemopurifier in treating two critically ill COVID-19 patients, which is available under the FDA emergency use authorization (EUA).

Shares of The GEO Group, Inc. (NYSE:GEO) got a boost, shooting 60% to $10.17 amid continued retail investor interest in high-short interest stocks.

Antelope Enterprise Holdings Limited (NASDAQ:AEHL) shares were also up, gaining 54% to $6.15 on abnormally-high volume.Check out these big movers of the day

Equities Trading DOWNUnited Natural Foods, Inc. (NYSE:UNFI) shares tumbled 18% to $33.14 after the company reported worse-than-expected Q3 sales and issued FY21 EPS guidance with a midpoint below consensus estimates.Shares of NextDecade Corporation (NASDAQ:NEXT) were down 17% to $4.6150. NextDecade shares climbed 60% on Tuesday after Evercore ISI upgraded the stock from In-Line to Outperform and raised its price target from $3 to $9.SemiLEDs Corporation (NASDAQ:LEDS) was down, falling 16% to $21.59.

Commodities

In commodity news, oil traded up 0.4% to $70.34, while gold traded down 0.2% to $1,890.70.

Silver traded down 0.3% Wednesday to $27.655 while copper fell 1.1% to $4.5050.

Euro zoneEuropean shares were mostly lower today. The eurozone's STOXX 600 slipped 0.1%, the Spanish Ibex Index rose 0.1% and the German DAX 30 fell 0.6%. Meanwhile, the London's FTSE 100 dropped 0.6%, French CAC 40 slipped 0.1% and Italy's FTSE MIB fell 0.2%.German trade surplus surged to EUR 15.5 billion in April from EUR 3.5 billion in the year-ago period, while current account surplus widened to EUR 21.3 billion from EUR 10.0 billion.

EconomicsUS wholesale inventories rose 0.8% to $698.0 billion in April.

The Energy Information Administration's weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.

The Treasury is set to auction 10-year notes at 1:00 p.m. ET.Check out the full economic calendar here







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