Market Movers, August.14. Yield Curve Finally Inverts

6:59am, Dow futures down 251 points. Yield curve inverts for the first time since 2007. Read more

“Shrinking German economy ‘on edge of recession’ as exports stutter”, Reuters

7:22am, HUYA up 4% on 66,161 shares. Releases 2nd quarter earnings.

7:28am, Luckin Coffee is down 4.8% on 102,163 shares after announcing 2nd quarter earnings. Misses analyst estimates by $0.39

7:33am, TLRY is down 9.8% on 12,211 after missing on estimates by $0.08.

7:40am, GOOS is down 2.8% on 26,736 shares after reporting better than expected earnings, Reuters reports

7:48am, Second hand retailer REAL is up 10% on 48,508 shares after reporting decreased losses. Read more at Bloomberg

7:51am, TVIX is up 10.3% on 741,631 shares.

 7:51am, MTC is down 20% on 32,388 shares, no apparent news

7:57am, Dow futures down 370 points

8:00am, Myriad Genetics Inc is down 25% on 71,775 shares after missing on earnings by 41 cents

8:04am, OSTK down 11% after publishing one of the most unusual press releases in U.S history

“Presidio Inc to go private in a $2.1 billion deal”, Financial Post reports

8:43, oil down 2.89%

8:44am, Macy’s is down 14% on 2,776,991 shares after missing on estimates and lowering guidance. Click the image for the full report

“Akari Therapeutics Receives FDA Fast Track Designation for Nomacopan for Paediatric Hematopoietic Stem Cell Transplant-Related Thrombotic Microangiopathy”. Up 60% on 1,552,218 shares at 8:50am

“Utah Selects Akerna to Run Its Seed-To-Sale Tracking Program”, Globenewswire. Up 10% just before the open

“ViacomCBS CEO: We have the scale to take on Disney and Netflix”, CNBC

9:44am, Corepoint Lodging is down 28% on 511,633 shares after reporting net loss. Lowers guidance

“Department store saga gets worse”, Seekingalpha. Written yesterday. Link

10:01am, InMode is up 14% on 667,374 shares after announcing quarterly earnings.

They competed their IPO a few days ago. Link

10:10am, Grocery Outlet Holding Corp up 9% on 1,348,879 shares after announcing quarterly earnings

9:40am, Dow down 360 points

10:35am, Dow down 432 points

“Bank stocks sink as yield curve inverts, with Bank of America, Citigroup and Regions leading the losers”, Marketwatch reports

“Sinclair Broadcast price target lowered to $61 from $70 at B. Riley FBR”, thefly.com reports. Down 9.8% at 10:42am on 529,412 shares

11:19am, Citigroup is down 5% on 9,026,171 shares, Dow down 600 points on 96,884,407 in trading volume

12:59pm, Dow down 724 points, volume 154,232,236. Currently sitting at 25,555.49

“Financial stocks led by Citigroup enter correction, down 10% from highs, on yield curve concern”, CNBC reports

1:24pm, Dow down 669 points, volume 167,802,213

Practically every stock is down today.

NVAX is up 44% as of 2:18pm. At 7:30am this morning, thefly reported that H.C Wainwright raised their price target from $10-$17. Link

2:34pm, Dow down 725 points on 201,681,735 in trading volume

“Oil tumbles 3.3% on weak global economic data, US crude build”, CNBC

2:43pm, Dow down 780 points, 206,512,657 trading volume

3:06pm, Dow down 650, volume 220,936,868

Dow closes down 800 points

Stay tuned for updates!

Leave a Reply