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News

Mid-Afternoon Market Update: Dow Rises Over 100 Points; Itamar Medical Shares Spike Higher

Author: Lisa Levin | September 13, 2021 02:40pm

Toward the end of trading Monday, the Dow traded up 0.38% to 34,739.18 while the NASDAQ fell 0.27% to 15,074.10. The S&P also fell, dropping 0.07% to 4,455.53.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 40,955,260 cases with around 659,970 deaths. India confirmed a total of at least 33,264,170 cases and 442,870 deaths, while Brazil reported over 20,999,770 COVID-19 cases with 586,850 deaths. In total, there were at least 224,677,810 cases of COVID-19 worldwide with more than 4,630,890 deaths, according to data compiled by Johns Hopkins University.


Leading and Lagging Sectors


Energy shares gained 2.7% on Monday. Meanwhile, top gainers in the sector included Uranium Royalty Corp. (NASDAQ:UROY), up 18% and Crescent Point Energy Corp. (NYSE:CPG) up 15%.


In trading on Monday, health care shares fell by 0.8%.


Top Headline

The U.K. government has terminated its COVID-19 vaccine contract with Valneva SE (NASDAQ:VALN) over alleged breach of obligations.

Britain has ordered 100 million doses of Valneva's vaccine candidate, VLA2001, and had an option to secure an additional 90 million doses. The total value of these 190 million doses is around €1.4 billion.


Equities Trading UP


Itamar Medical Ltd. (NASDAQ:ITMR) shares shot up 45% to $30.25. ZOLL Medical Corporation, an Asahi Kasei company, agreed to acquire Itamar Medical for a total value of approximately $538 million.


Shares of Aterian, Inc. (NASDAQ:ATER) got a boost, shooting 41% to $16.58. Investor presentation released on Friday is now circulating on news outlets.


aTyr Pharma, Inc. (NASDAQ:LIFE) shares were also up, gaining 48% to $8.13 as the company announced positive results from its Phase 1b/2a trial evaluating its lead therapeutic candidate, ATYR1923, in pulmonary sarcoidosis, a major form of interstitial lung disease.

Check out these big movers of the day


Equities Trading DOWN

MiMedx Group, Inc. (NASDAQ:MDXG) shares tumbled 59% to $6.30 after announcing top-line results from two musculoskeletal trials of micronized dehydrated Human Amnion Chorion Membrane (mdHACM). Top-line results from an interim analysis of the six-month efficacy data for the Phase 2B trial for Knee Osteoarthritis (KOA) did not meet primary endpoints.

Shares of Valneva SE (NASDAQ:VALN) were down 40% to $28.06 after the company announced it received a termination notice from the UK Government in relation to the Supply Agreement for its COVID-19 vaccine candidate, VLA2001.

Farmmi, Inc. (NASDAQ:FAMI) was down, falling 51% to $0.2821 after the company announced a 368,261,717 share public offering to be priced at $0.22 per share.


Commodities


In commodity news, oil traded up 0.9% to $70.32, while gold traded up 0.1% to $1,793.40.


Silver traded down 0.7% Monday to $23.74 while copper fell 2% to $4.3610.


Euro zone

European shares were higher today. The eurozone’s STOXX 600 surged 0.29%, the Spanish Ibex Index rose 1.39% and the German DAX 30 climbed 0.59%. Meanwhile, the London’s FTSE 100 rose 0.56%, French CAC 40 gained 0.20% and Italy’s FTSE MIB rose 0.93%.

Wholesale prices in Germany surged 12.3% year-over-year in August, recording the highest rate since October 1974.


Economics

The U.S. reported a budget deficit of $171 billion in August, compared to a $200 billion gap in the year-ago period.

Check out the full economic calendar here

Posted In: ATER CPG FAMI ITMR LIFE MDXG UROY VALN