- Tandem Diabetes Care was the biggest decliner after giving up 28.38% yesterday CommScope Holding Company, Inc. had a negative day yesterday (down 25.95%).
- Asia-Pacific markets are currently mixed so far this session.
Yesterday's market activity meant that leading equity indices in the US declined as Nasdaq lost 1.73% and ended the session at 10,343. S&P 500 shed 1.06% and closed at 3,720.
Trading in the US will continue today in around 11 hours time, meanwhile Asia-Pacific markets are in session with varied performances. European markets ended a mixed session yesterday whilst FTSE added 0.62% to trade at 7,188.63.
Markets are trading lower today despite some positive data published earlier as United States Initial Jobless Claims improved upon its previous reading of 218,000 with a new data release of 217,000.
Meanwhile, United States ISM Non-Manufacturing PMI (Oct) released yesterday at 14:00 UTC with a figure of 54.4, while the previous figure was 56.7. United States Interest Rate came out at four, while a consensus of analysts was expecting four.
Looking ahead, ongoing depreciation may be prolonged as United States Non Farm Payrolls expected to decline to 200,000 while its preceding data was 263,000, data will be available today at 12:30 UTC. Today at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.6 from the preceding figure of 3.5.
While markets are generally down so far today, some stocks outperformed such as Vimeo gained 17.07% to reach $3.91.
Yesterday's bearishness affected individual stocks as Tandem Diabetes Care lost 28.38% yesterday before closing at $36.77. CommScope Holding Company, Inc. had a negative day yesterday (down 25.95%).
Risk-off mood drags CommScope Holding Company, Inc. 25.95% lower
More of the same from yesterday's session: after ending Wednesday at $12.87, CommScope Holding Company, Inc. dropped to $9.21 early in yesterday's session and closed at $9.53. In total, it lost 25.95%. CommScope Holding Company, Inc. has a market cap of $1.98 billion with an average daily volume of 3.11 million shares.
Yesterday's fall added to a 3 day bearish run, during which Tandem Diabetes Care lost $4.81. Daily trading volume (6.98 million shares) was higher than the current multiday average of 846,119.
The company reported earnings of -0.27 per share Wednesday, falling short of expectations of -0.03. Revenue was also lower than expected at $204.55 million versus $207.7 million. Tandem Diabetes Care lost 34.34% since the release of its earnings report.