Dragging by the diving oil prices, the energy sector, the biggest laggard among the S&P 500’s ten sectors, slumped 2.79 percent on Wednesday.
On the economic front, the Consumer Price Index (CPI) for all urban consumers added 0.1 percent in July on a seasonally-adjusted basis, below market consensus of 0.2 percent, reported by the US labour department on Wednesday.
Over the last 12 months, the all items index rose 0.2 percent before seasonal adjustment.
The index for all items less food and energy also rose 0.1 percent in July, which grew 1.8 percent for the 12 months ending July.
“The retracement in energy costs will likely drag headline CPI back into negative territory by the end of the quarter, and will filter through to the broader economy throughout the rest of the year,” said Jay Morelock, an economist at FTN Financial.
Overseas, Chinese equities witnessed wild swings on Wednesday as persistent worries about economic pressures continued to weigh on market sentiment, with the key Shanghai index fluctuating more than 6 percent.
Market investors widely see September or even later as the most likely time for a Fed rate increase.
Dampening investor sentiment, oil prices plunged on Wednesday as a government report showed that US crude stockpiles last week increased unexpectedly.
Helix Energy Solutions Group Inc. (NYSE:HLX) finished last trade at $6.50, lose -4.20%. Trading volume recorded for this company was about 1.83million shares as compared to its average volume of 2.07 million shares while its 52 week high is $27.70. The company has the total of 105.96 million outstanding shares while its market capitalization is now about $719.47 million. Helix Energy Solutions Group Inc. (NYSE:HLX) stated a net loss of $(2.6) million, or $(0.03) per diluted share, for the second quarter of 2015 contrast to net income of $57.8 million, or $0.55 per diluted share, for the same period in 2014 and net income of $19.6 million, or $0.19 per diluted share, for the first quarter of 2015. Net income for the six months ended June 30, 2015 was $17.0 million, or $0.16 per diluted share, contrast with net income of $111.5 million, or $1.05 per diluted share, for the six months ended June 30, 2014.
Navios Maritime Partners L.P. (NYSE:NMM) closed at $ 8.61, down6.00%, on volume of over 1.11 million shares. The company has an average trading volume of 487,463 shares. Its market capitalization was $776.54 million. Navios Maritime Partners L.P. (NYSE:NMM) owns and operates dry cargo vessels in Europe, Asia, North America, and Australia. It provides seaborne transportation services for a range of drybulk commodities that comprise iron ore, coal, grain, and fertilizers, in addition to charters its vessels under medium to long-term charters.
Oi SA (ADR) (NYSE:OIBR) traded with -2.98% lost momentum to $0.828 in the latest trading session It captured $741.84 million in market value. The total number of shares traded on the latest trading day was about 2.23 million shares. The day started out with an opening price of $0.84 and changed hands at price range of $0.79 to $0.87apiece. Oi SA (ADR) (NYSE:OIBR) offers integrated telecommunication services for residential customers and governmental agencies, in addition to small, medium, and large companies in Brazil. It offers fixed-line voice services, such as installation, monthly subscription, metered services, collect calls, and supplemental local services; domestic and international long-distance services; broadband Internet access services; subscription television services; and bundled services, in addition to owns and operates public telephones.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares touched a high of $3.21 before closing at $3.02, a plunge of -6.21%. The trading volume was 4.44 million shares. The company has an average trading volume of 2.60 million shares. Its market capitalization was $780.02 million. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) stated financial results for the second quarter ended June 30, 2015, and offered a corporate update.
Second Quarter and Recent Developments
Arena Research & Development
- Declared the initiation of patient screening in a Phase 2 proof-of-concept clinical trial of APD334, an oral Sphingosine 1-Phosphate Subtype 1 (S1P1) receptor modulator for autoimmune diseases, being studied in this trial for the treatment of ulcerative colitis.
- Arena and Roivant Sciences Ltd. reached a Development, Marketing and Supply Agreement for nelotanserin, Arena’s internally discovered inverse agonist of the serotonin 2A receptor.
- Declared results from a Phase 1 single-ascending dose clinical trial of APD371, a highly selective and potent cannabinoid 2 (CB2) receptor agonist in development as a potential treatment for pain.