ILLUMINA LIGHTS UP: Genetic tools company Illumina raised its projections for the rest of the year after solid results in the most recent quarter. The company said demand for its NovaSeq genetic sequencing system was better than expected, and its stock gained $21.65, or 12.6 percent, to $193.95.
HORROR FILM: Movie theater operators plunged after AMC Entertainment said U.S. box office receipts dropped 4.4 percent in the second quarter, and it expects the third quarter to be difficult as well. AMC it also taking a charge of more than $170 million because its investment in another chain, National CineMedia, lost value. The company is also planning to slash costs by making changes including discounts, cuts in operating hours and staff levels, and new pricing plans.
AMC dropped $4.95, or 23.8 percent, to $15.85. Regal Entertainment sank 80 cents, or 4.2 percent, to $18.29 and Cinemark Holdings lost $2.09, or 5.3 percent, to $37.67.
OIL: Benchmark U.S. crude added 6 cents to $49.22 a barrel in New York. Brent crude, the international standard, picked up 13 cents to $51.91 a barrel in London.
BONDS: Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.25 percent.
CURRENCIES: The dollar rose to 110.60 yen from 110.30 yen. The euro edged up to $1.1828 from $1.1801.
OVERSEAS: Germany’s DAX was unchanged, as was the CAC 40 of France. Britain’s FTSE 100 slipped 0.2 percent. Japan’s Nikkei 225 rose 0.5 percent and South Korea’s Kospi gained 0.2 percent. Hong Kong’s Hang Seng index advanced 0.2 percent.
