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Saturday, Jul 13, 2024
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Midday Stock Roundup

The S&P 500 was down 0.1% to 3,091.17 at midday trading.

The Dow Jones Industrial Average and Nasdaq were also declined by 0.1% to 27,754.84 and 8,473.31 respectively.

Crude oil fell 0.2% to $56.95 a barrel.

The price of gold rose 0.6% to $1,472.

The yield on a 10-Year Bond decreased 2.9% to 1.82%.

HEALTHCARE

Axonics Modulation Technologies Inc. (Nasdaq: AXNX) saw a climb of 17% to $29.70 a share at midday trading with an $868 million market cap. The surge in stock value occurred following FDA approval for a flagship device for urinary incontinence—putting its commercialization prospects ahead of Medtronic in the market, which filed a lawsuit against Axonics for patent infringement earlier this week.

Endologix Inc. (Nasdaq: ELGX) shares slid 5.3% to $2.80 with a $50 million market cap. Last week, the company disclosed a quarterly loss of 54 cents a share, beating the Zacks Consensus Estimate of a 64 cents loss. The maker of a device to treat abdominal aortic aneurysms has beat consensus estimates in four consecutive quarters, though its shares have declined after each report. Revenue for the most recent quarter was $36 million.

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