Mid-Day Market Update: NASDAQ Down 1%; Tonix Pharmaceuticals Shares Spike Higher

Midway through trading Thursday, the Dow traded down 0.56 percent to 25,223.61 while the NASDAQ declined 1.01 percent to 7,218.05. The S&P also fell, dropping 0.71 percent to 2,724.43.

Leading and Lagging Sectors

On Thursday, the energy shares climbed 0.5 percent. Meanwhile, top gainers in the sector included Frontline Ltd (NYSE: FRO) up 7 percent, and Smart Sand Inc (NYSE: SND) up 4 percent.

In trading on Thursday, utilities shares fell 0.9 percent.

Top Headline

Dollar Tree, Inc. (NASDAQ: DLTR) reported better-than-expected earnings for its third quarter, while sales missed estimates. The company also issued weak forecast for the fourth quarter.

Dollar Tree posted quarterly earnings of $1.18 per share on revenues of $5.54 billion. However, analysts were expecting a profit of $1.14 per share on revenue of $5.55 billion.

Dollar Tree now expects Q4 earnings of $1.86 to $1.95 per share, on sales of $6.1 billion to $6.21 billion. Analysts project earnings of $2 per share on sales of $6.23 billion.

Dollar Tree lowered its FY18 sales guidance from $22.75 billion to $22.97 billion, to $22.72 billion to $22.83 billion. The company now expects adjusted earnings of $4.86 to $4.95 per share, versus prior forecast of $4.85 to $5.05 per share.

Equities Trading UP

Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) shares got a boost, shooting up 133 percent to $8.84. The biopharma company announced Thursday ahead of the market open that the FDA has formally communicated through the minutes of an Oct. 29 Breakthrough Therapy Type B Clinical guidance meeting that it has accepted the study design of the new Phase 3 RECOVERY trial evaluating the company’s TNX-102 SL as a bedtime treatment option for post-traumatic stress disorder, or PTSD.

Shares of Realm Therapeutics Plc (NASDAQ: RLM) shot up 41 percent to $3.66 following earlier press release highlighting

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