Mid-Afternoon Market Update: Dow Falls 100 Points; GeoVax Labs Shares Spike Higher

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Toward the end of trading Monday, the Dow traded down 0.33% to 30,996.80 while the NASDAQ fell 1% to 13,070.16. The S&P also fell, dropping 0.59% to 3,802.20.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 22,410,060 cases with around 374,340 deaths. India confirmed a total of at least 10,466,590 confirmed cases and 151,160 deaths, while Brazil reported over 8,105,790 COVID-19 cases with 203,100 deaths. In total, there were at least 90,353,570 cases of COVID-19 worldwide with over 1,936,410 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares gained by 1.6% on Monday. Meanwhile, top gainers in the sector included Gran Tierra Energy Inc. (NYSE: GTE), up 21%, and Torchlight Energy Resources, Inc. (NASDAQ: TRCH), up 17%.

In trading on Monday, real estate shares fell 1.7%.

Top Headline

AZZ Inc (NYSE: AZZ) reported upbeat earnings for its third quarter, while sales missed views.

AZZ reported quarterly earnings of $0.80 per share, beating analysts’ expectations of $0.66 per share. The company posted sales of $226.62 million, missing estimates of $234.44 million. The company also announced a $100 million buyback program.

 

Equities Trading UP

GeoVax Labs, Inc. (NASDAQ: GOVX) shares shot up 76% to $5.81 after the company announced it was awarded an NIH grant to advance its COVID-19 vaccine development.

Shares of Mesoblast Limited (NASDAQ: MESO) got a boost, shooting 37% to $11.90 after the company said its rexlemestrocel-L reduced heart attacks, strokes and cardiac deaths.

Impinj, Inc. (NASDAQ: PI) shares were also up, gaining 21% to $52.10 after the company issued strong preliminary sales guidance for the fourth quarter.

Check out these big movers of the day

Equities Trading DOWN

Applied DNA Sciences, Inc. (NASDAQ: APDN) shares tumbled 23% to $9.02 after the company priced its 1.81 million shares common stock offering at $8.30 per share. However, HC Wainwright & Co. maintained Applied DNA Sciences with a Buy and raised the price target from $12 to $18.

Shares of Medigus Ltd. (NASDAQ: MDGS) were down 15% to $2.21 as the company priced $8.4 million offering of ADSs at $2.3 per ADS.

Bit Digital, Inc. (NASDAQ: BTBT) was down, falling 25% to $18.80 following a sharp decline in Bitcoin prices.

Commodities

In commodity news, oil traded up 0.1% to $52.31, while gold traded up 0.7% to $1,848.60.

Silver traded up 2.1% Monday to $25.15 while copper fell 3.1% to $3.5580.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 fell 0.67%, the Spanish Ibex Index fell 0.6% and the German DAX 30 declined 0.8%. Meanwhile, the French CAC 40 fell 0.78%, London’s FTSE 100 dropped 1.09% and Italy’s FTSE MIB declined 0.32%. Spain’s industrial production dropped 3.8% year-over-year in November.

Economics

Federal Reserve Bank of Dallas President Robert Kaplan will speak at 6:00 p.m. ET.

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