The Stock That Took Investors on a $90 Billion Ride — Heard on the Street — WSJ

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index gaining more than 200 points on Tuesday.

The Dow traded up 0.53% to 40,755.30 while the NASDAQ dipped 1.02% to 17,190.93. The S&P 500 also fell, dropping, 0.40% to 5,441.42.

Check This Out: Top 3 Financials Stocks Which Could Rescue Your Portfolio For July

Leading and Lagging Sectors

Energy shares jumped by 1.3% on Tuesday.

In trading on Tuesday, information technology shares fell by 2.1%.

Top Headline

The S&P CoreLogic Case-Shiller 20-city home price index rose 6.8% year-over-year in May versus a revised 7.3% gain in April.

Equities Trading UP

• Imunon, Inc. shares shot up 153% to $2.98 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.
• Shares of JetBlue Airways Corporation got a boost, surging 17% to $6.95 after the company reported better-than-expected second-quarter financial results.
• Processa Pharmaceuticals, Inc. shares were also up, gaining 22% to $2.0750 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.

Equities Trading DOWN

• QXO, Inc. Q shares dropped 80% to $12.11. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.
• Shares of Ekso Bionics Holdings, Inc. were down 24% to $1.1355 after the company reported worse-than-expected quarterly sales results.
• SmartRent, Inc. was down, falling 18% to $1.9601 after the company announced a CEO resignation and suspended its 2024 outlook.

Also Check This Out: Jim Cramer Says No To This Health Care Stock, Recommends Holding On To Constellation Energy: ‘It’s Up A Huge Amount’

Commodities

In commodity news, oil traded down 1% to $75.08 while gold traded up 1.2% at $2,453.50.

Silver traded up 2.4% to $28.52 on Tuesday, while copper rose 0.2% to $4.0910.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.45%, Germany's DAX gained 0.49% and France's CAC 40 climbed 0.42%. Spain's IBEX 35 Index rose 0.76%, while London's FTSE 100 fell 0.22%.

The Euro Area GDP grew by 0.3% on quarter during the second quarter, the same as in the prior period but above expectations of 0.2%. The economic sentiment indicator in the Eurozone slipped to 95.8 in July from 95.9 in the prior month, while services sentiment indicator fell to 4.8 in July from a revised 6.2 in the prior month.

The German economy shrank 0.1% on quarter during the second quarter, compared to a 0.2% increase in the prior quarter, while Spanish economy expanded by 0.8% quarter-over-quarter in the second quarter. The French economy grew by 0.3% quarter-over-quarter during the second quarter.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.15%, Hong Kong's Hang Seng Index dipping 1.37%, China's Shanghai Composite Index falling 0.43% and India's S&P BSE Sensex rising 0.12%.

Japanese unemployment rate came in at 2.5% for June, versus market projections of 2.6%.

Economics

• The number of job openings came in at 8.184 million in June compared to a revised 8.23 million in May.
• The S&P CoreLogic Case-Shiller 20-city home price index rose 6.8% year-over-year in May versus a revised 7.3% gain in April.
• The FHFA house price index came in unchanged for May.
• The Dallas Fed general business activity index for Texas’ service sector climbed to a reading of -0.1 versus prior reading of -4.1.

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• Wall Street’s Most Accurate Analysts Weigh In On 3 Industrials Stocks With Over 4% Dividend Yields

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Shares of Merck & Co., Inc. fell sharply during Tuesday's session after the company reported second-quarter financial results and cut its FY24 adjusted EPS guidance below estimates.

Merck reported second-quarter sales of $16.1 billion, up 7% year-over-year, beating the consensus estimate of $15.84 billion. Excluding the impact of foreign exchange, sales increased 11%. Merck reported adjusted EPS of $2.28, a shift from an EPS loss of $(2.06), beating the consensus of $2.15, according to data from Benzinga Pro.

Merck shares dipped 9.5% to $115.50 on Tuesday.

Here are some other stocks moving in today’s mid-day session.

Gainers

• Imunon, Inc. shares jumped 147.8% to $2.9250 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.
• Agape ATP Corporation surged 97% to $0.1731. AGAPE ATP strengthened wellness division via innovative incubation with emerging local SMEs.
• Processa Pharmaceuticals, Inc. shares climbed 53% to $2.60 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.
• INVO Bioscience, Inc. gained 33% to $1.1513.
• Jet.AI Inc. shares gained 29% to $0.3850.
• 2U, Inc. jumped 28% to $3.4018.
• CalciMedica, Inc. jumped 26.3% to $5.24.
• JetBlue Airways Corporation rose 20.6% to $7.16 after the company reported better-than-expected second-quarter financial results.
• Lumen Technologies, Inc. rose 19.1% to $2.3050.
• Commvault Systems, Inc. gained 19.1% to $146.77 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company raised its FY25 revenue guidance.
• Harmonic Inc. climbed 18.8% to $13.96 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.
• Meta Data Limited gained 18.8% to $5.42.
• Enveric Biosciences, Inc. rose 18.3% to $0.59 after jumping around 6% on Monday.
• Inspirato Incorporated gained 18.3% to $6.20 after jumping over 50% on Monday.
• Sprouts Farmers Market, Inc. shares gained 15.9% to $98.13 after the company reported better-than-expected second-quarter financial results and issued its third-quarter earnings guidance above estimates.
• NeoGenomics, Inc. gained 16.1% to $17.00 following upbeat earnings.
• Tilray Brands, Inc. rose 16.1% to $2.1250 after the company reported better-than-expected quarterly financial results.
• Sprouts Farmers Market, Inc. gained 15.5% to $97.79 after the company reported better-than-expected second-quarter financial results. Additionally, the company issued third-quarter earnings guidance above estimates.
• Howmet Aerospace Inc. climbed 14.1% to $94.56 following better-than-expected second-quarter earnings, issued strong guidance, raised its dividend, increased its buyback authorization and issued strong guidance.
• Repligen Corporation gained 13.4% to $156.48 following -quarter earnings.
• Varonis Systems, Inc. climbed 13.3% to $54.92 as the company reported better-than-expected second-quarter financial results and raised its FY24 guidance on Monday.
• Hayward Holdings, Inc. gained 11% to $14.98 after the company reported better-than-expected second-quarter EPS results.
• F5, Inc. shares rose 10.6% to $196.46 after the company reported better-than-expected third-quarter financial results and raised its FY24 earnings guidance above estimates.
• Pharming Group N.V. shares gained 9.8% to $8.28. Pharming Group will report second quarter financial results on Aug. 1.
• PayPal Holdings, Inc. climbed 8.5% to $63.98 after the company reported better-than-expected second quarter financial results.
• Stanley Black & Decker, Inc. rose 8.1% to $104.28 after the company reported better-than-expected second quarter financial results. Additionally, the company revised its FY24 adjusted EPS forecast upward.
• Gartner, Inc. gained 6.4% to $500.83 following better-than-expected quarterly earnings.

Losers

• QXO, Inc. Q shares fell 80.8% to $11.44. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.
• VBI Vaccines Inc. declined 64.8% to $0.1960 after the company was granted protection under Canada’s CCAA by the Ontario Superior Court. The company received approval for a DIP loan, and Ernst & Young was appointed as the monitor during the restructuring process.
• CNS Pharmaceuticals, Inc. C dipped 40.8% to $0.6158 after the company announced it entered into an exclusive license agreement with Cortice Biosciences.
• BIMI Holdings Inc. tumbled 37% to $0.73.
• Bloomz Inc. B dipped 30.7% to $1.78.
• Ekso Bionics Holdings, Inc. fell 26.6% to $1.0901 after the company reported worse-than-expected quarterly sales results.
• Novavax, Inc. shares declined 25.2% to $12.27 after declining 4% on Monday.
• VSee Health, Inc. V fell 23.3% to $2.7999.
• SmartRent, Inc. dipped 21.5% to $1.8850 after the company announced a CEO resignation and suspended its 2024 outlook.
• Symbotic Inc. shares fell 21.1% to $28.13 after the company reported worse-than-expected third-quarter earnings results and issued fourth-quarter revenue guidance below estimates.
• Woodward, Inc. fell 16.5% to $152.91 after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.
• NIP Group Inc. N fell 16.2% to $13.82. NIP Group announced the closing of its initial public offering and partial exercise of underwriters' option to purchase additional ADSs.
• Merchants Bancorp dipped 16.2% to $43.68 after the company reported worse-than-expected quarterly financial results. Additionally, Raymond James downgraded the stock.
• Amkor Technology, Inc. shares fell 14.2% to $32.24 after the company issued roughly in-line guidance.
• OneWater Marine Inc. dipped 13.2% to $26.43 after the company reported worse-than-expected third-quarter financial results and issued weak guidance.
• Celldex Therapeutics, Inc. shares fell 11.6% to $37.06 after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.
• Transcat, Inc. declined 11.2% to $120.00 following weak quarterly sales.
• CrowdStrike Holdings, Inc. dipped 9.7% to $233.65 following reports indicating Delta Air Lines would seek compensation from the cybersecurity company for last week’s outage.
• Rambus Inc. shares dipped 9.3% to $50.61 following weak quarterly sales.
• Corning Incorporated fell 8.7% to $38.99 following second-quarter results.
• Lattice Semiconductor Corporation shares fell 8.3% to $50.40 after the company reported worse-than-expected second-quarter financial results and issued weak third-quarter revenue guidance.
• Ecolab Inc. declined 6.7% to $231.31 after the company reported worse-than-expected second-quarter sales results.
• The Procter & Gamble Company fell 6.2% to $159.37 following a quarterly revenue miss.
• Diageo plc fell 5.5% to $124.30 after the company missed annual profit expectations.
• Fresenius Medical Care AG shares declined 4.5% to $19.45 following weak quarterly sales.

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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling around 1% on Tuesday.

The Dow traded up 0.20% to 40,622.69 while the NASDAQ dipped 1.05% to 17,188.10. The S&P 500 also fell, dropping, 0.51% to 5,435.63.

Check This Out: Top 3 Financials Stocks Which Could Rescue Your Portfolio For July

Leading and Lagging Sectors

Financials shares jumped by 1.3% on Tuesday.

In trading on Tuesday, consumer staples shares fell by 1%.

Top Headline

Procter & Gamble Co shares fell around 6% on Tuesday after the company reported fourth-quarter FY24 sales of $20.53 billion (flat Y/Y), missing the analyst consensus estimate of $20.74 billion.

Adjusted EPS of $1.40 beat the analyst consensus of $1.37.

P&G said it sees FY25 all-in sales growth of 2% – 4% and organic sales growth of 3% – 5%. This outlook equates to FY25 revenue of $85.72 billion – $87.40 billion versus an estimate of $86.856 billion.

Equities Trading UP

• Imunon, Inc. shares shot up 159% to $3.06 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.
• Shares of JetBlue Airways Corporation got a boost, surging 21% to $7.18 after the company reported better-than-expected second-quarter financial results.
• Processa Pharmaceuticals, Inc. shares were also up, gaining 30% to $2.2101 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.

Equities Trading DOWN

• QXO, Inc. Q shares dropped 81% to $11.48. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.
• Shares of Ekso Bionics Holdings, Inc. were down 23% to $1.1484 after the company reported worse-than-expected quarterly sales results.
• SmartRent, Inc. was down, falling 22% to $1.88 after the company announced a CEO resignation and suspended its 2024 outlook.

Also Check This Out: Jim Cramer Says No To This Health Care Stock, Recommends Holding On To Constellation Energy: ‘It’s Up A Huge Amount’

Commodities

In commodity news, oil traded down 1.1% to $74.95 while gold traded up 0.5% at $2,436.70.

Silver traded up 1.1% to $28.165 on Tuesday, while copper fell 0.5% to $4.0635.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.62%, Germany's DAX gained 0.59% and France's CAC 40 climbed 0.53%. Spain's IBEX 35 Index rose 0.83%, while London's FTSE 100 fell 0.01%.

The Euro Area GDP grew by 0.3% on quarter during the second quarter, the same as in the prior period but above expectations of 0.2%. The economic sentiment indicator in the Eurozone slipped to 95.8 in July from 95.9 in the prior month, while services sentiment indicator fell to 4.8 in July from a revised 6.2 in the prior month.

The German economy shrank 0.1% on quarter during the second quarter, compared to a 0.2% increase in the prior quarter, while Spanish economy expanded by 0.8% quarter-over-quarter in the second quarter. The French economy grew by 0.3% quarter-over-quarter during the second quarter.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.15%, Hong Kong's Hang Seng Index dipping 1.37%, China's Shanghai Composite Index falling 0.43% and India's S&P BSE Sensex rising 0.12%.

Japanese unemployment rate came in at 2.5% for June, versus market projections of 2.6%.

Economics

• The number of job openings came in at 8.184 million in June compared to a revised 8.23 million in May.
• The S&P CoreLogic Case-Shiller 20-city home price index rose 6.8% year-over-year in May versus a revised 7.3% gain in April.
• The FHFA house price index came in unchanged for May.
• The Dallas Fed general business activity index for Texas’ service sector climbed to a reading of -0.1 versus prior reading of -4.1.

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• Wall Street’s Most Accurate Analysts Weigh In On 3 Industrials Stocks With Over 4% Dividend Yields

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

U.S. stocks traded mostly higher this morning, with the Dow Jones index gaining around 200 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.50% to 40,742.44 while the NASDAQ slipped 0.01% to 17,370.07. The S&P 500 also rose, gaining, 0.22% to 5,475.80.

Check This Out: Top 3 Financials Stocks Which Could Rescue Your Portfolio For July

Leading and Lagging Sectors

Financials shares jumped by 1.3% on Tuesday.

In trading on Tuesday, consumer staples shares fell by 1%.

Top Headline

Pfizer Inc. reported better-than-expected second-quarter financial results.

Pfizer reported second-quarter adjusted EPS of 60 cents, down 11% year over year, beating the consensus of 46 cents. The U.S. drugmaker reported sales of $13.28 billion, up 2% year-over-year (up 3% operationally), beating the consensus of $13.02 billion.

Pfizer updated its 2024 revenue forecast to $59.5 billion—$62.5 billion, compared to prior guidance of $58.5 billion—$61.5 billion and consensus of $60.7 billion. Pfizer expects 2024 adjusted EPS of $2.45-$2.65 compared to prior guidance of $2.15-$2.35 and consensus of $2.37.

Equities Trading UP

• Imunon, Inc. shares shot up 158% to $3.0500 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.
• Shares of Agape ATP Corporation got a boost, surging 100% to $0.1766. AGAPE ATP strengthened wellness division via innovative incubation with emerging local SMEs.
• Processa Pharmaceuticals, Inc. shares were also up, gaining 44% to $2.44 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.

Equities Trading DOWN

• QXO, Inc. Q shares dropped 79% to $12.37. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.
• Shares of NIP Group Inc. N were down 35% to $10.78. NIP Group announced the closing of its initial public offering and partial exercise of underwriters' option to purchase additional ADSs.
• CNS Pharmaceuticals, Inc. C was down, falling 31% to $0.7169 after the company announced it entered into an exclusive license agreement with Cortice Biosciences.

Also Check This Out: Jim Cramer Says No To This Health Care Stock, Recommends Holding On To Constellation Energy: ‘It’s Up A Huge Amount’

Commodities

In commodity news, oil traded down 1.3% to $74.81 while gold traded up 0.5% at $2,438.40.

Silver traded up 1% to $28.145 on Tuesday, while copper fell 0.9% to $4.0485.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.7%, Germany's DAX gained 0.7% and France's CAC 40 climbed 0.7%. Spain's IBEX 35 Index rose 0.9%, while London's FTSE 100 fell 0.1%.

The Euro Area GDP grew by 0.3% on quarter during the second quarter, the same as in the prior period but above expectations of 0.2%. The economic sentiment indicator in the Eurozone slipped to 95.8 in July from 95.9 in the prior month, while services sentiment indicator fell to 4.8 in July from a revised 6.2 in the prior month.

The German economy shrank 0.1% on quarter during the second quarter, compared to a 0.2% increase in the prior quarter, while Spanish economy expanded by 0.8% quarter-over-quarter in the second quarter. The French economy grew by 0.3% quarter-over-quarter during the second quarter.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.15%, Hong Kong's Hang Seng Index dipping 1.37%, China's Shanghai Composite Index falling 0.43% and India's S&P BSE Sensex rising 0.12%.

Japanese unemployment rate came in at 2.5% for June, versus market projections of 2.6%.

Economics

• The number of job openings came in at 8.184 million in June compared to a revised 8.23 million in May.
• The S&P CoreLogic Case-Shiller 20-city home price index rose 6.8% year-over-year in May versus a revised 7.3% gain in April.
• The FHFA house price index came in unchanged for May.

Now Read This:

• Wall Street’s Most Accurate Analysts Weigh In On 3 Industrials Stocks With Over 4% Dividend Yields

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.