NEW YORK, NY / ACCESSWIRE / May 12, 2017 / Disappointing earnings from the consumer discretionary sector pressured markets lower Thursday. The Dow Jones Industrial Average hit an intraday low of 20,798.90 before settling to close at 20,919.42, a decrease of 0.11 percent, while the S&P 500 Index hit an intraday low of 2,381.74 before settling to close at 2,394.44, a decrease of 0.22 percent. The S&P 500 Consumer Discretionary Sector posted a loss of 0.60 percent as major retailers Macy's and Kohl's reported earnings that fell short of expectations.

"Both corporate earnings and economic data were pretty good in the first quarter and underpinned the rally so far. But with earnings season almost over, we might see some sideways moves until June when the Fed is likely to raise rates," said Mark Kepner, Managing Director of Sales and Trading at Themis Trading.

RDI Initiates Coverage on:

Rexahn Pharmaceuticals, Inc.
https://ub.rdinvesting.com/news/?ticker=RNN

Depomed Inc.
https://ub.rdinvesting.com/news/?ticker=DEPO

Rexahn Pharmaceuticals' shares jumped 22.15 percent to close at $3.97 a share on Thursday. The stock traded between $3.20 and $4.08 on volume of 972,034 shares traded. The company is scheduled to present preliminary data from the Phase Ib/IIa study of RX-3117 in advanced and metastatic bladder cancer at the American Society of Clinical Oncology (ASCO) 2017 Annual Meeting, which will be held June 2nd to 6th in Chicago, Illinois. Rexahn reported a net loss of $21.6 million, or $0.09 per share, for the first quarter of 2017, compared to a net loss of $4.1 million, or $0.02 per share, for the same quarter a year ago. The company's cash and investments totaled approximately $18.5 million as of March 31, 2017 and the company estimates that current level of cash assets are sufficient to run operations till mid-2018. Shares of Rexahn Pharmaceuticals have gained approximately 179.77 percent year-to-date.

Access RDI's Rexahn Pharmaceuticals Research Report at:
https://ub.rdinvesting.com/news/?ticker=RNN

Depomed's shares jumped 4.96 percent to close at $11.63 a share on Thursday. The stock traded between $10.87 and $12.30 on volume of 3.28 million shares traded. On May 9th, The company reported a loss of $26.7 million, or $0.43 a share, in the first quarter of 2017, up from a loss of $20.9 million, $0.34 a share, in the same quarter a year ago. Adjusted earnings were $4.4 million $0.07 a share, for the quarter, which fell short of analysts' expectations of $0.09 a share, according to analysts surveyed by FactSet. Revenues totaled $90.45 million for the first quarter of 2017, which also fell short of analysts' expectations of $100 million. The company now expects total revenue in the range of $405 million to $425 million for the year 2017. Shares of Depomed have fallen approximately 35.46 percent year-to-date.

Access RDI's Depomed Research Report at:
https://ub.rdinvesting.com/news/?ticker=DEPO

Our Actionable Research on Rexahn Pharmaceuticals, Inc. (NYSE MKT: RNN) and Depomed Inc. (NASDAQ: DEPO) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com