Mid-Day Market Update: NASDAQ Rises Over 100 Points; Verrica Pharmaceuticals Shares Plummet

Midway through trading Tuesday, the Dow traded down 0.01% to 25595.02 while the NASDAQ rose 1.17% to 9,989.73. The S&P also rose, gaining 0.69% to 3,074.27.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 2,590,580 cases with around 126,140 deaths. Brazil confirmed a total of over 1,368,190 COVID-19 cases with 58,310 deaths, while Russia reported a total of at least 640,240 confirmed cases and 9,150 deaths. In total, there were at least 10,302,860 cases of COVID-19 worldwide with over 505,510 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Real estate shares climbed 1.3% on Tuesday. Meanwhile, top gainers in the sector included Redfin Corporation (NASDAQ: RDFN), up 6%, and Stratus Properties Inc. (NASDAQ: STRS), up 5%.

In trading on Tuesday, industrial shares fell 0.2%.

Top Headline

Conagra Brands Inc (NYSE: CAG) reported better-than-expected results for its fourth quarter.

Conagra Brands posted quarterly earnings of $0.75 per share, surpassing analysts’ estimates of $0.66 per share. The company reported sales of $3.29 billion, exceeding expectations of $3.11 billion.

Conagra said it projects Q1 earnings of $0.54 to $0.59 per share.

Equities Trading UP

Qumu Corporation (NASDAQ: QUMU) shares shot up 33% to $3.1895. Synacor and Qumu reported mutual termination of merger deal.

Shares of Workhorse Group Inc. (NASDAQ: WKHS) got a boost, shooting 30% to $18.81 after the company secured $70 million in financing from institutional investors.

Alterity Therapeutics Limited (NASDAQ: ATHE) shares were also up, gaining 111% to $1.235 after the company said that following a pre-IND meeting regarding its lead drug candidate ATH434 for the treatment of multiple system atrophy, a Parkinsonian disorder, it has reached an agreement with the FDA on the non-clinical investigations required to support the Phase 2 study..

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