Dow Falls 150 Points; Oracle Posts Downbeat Results

U.S. stocks traded mixed this morning, with the Dow Jones index falling around 150 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.36% to 44,242.81 while the NASDAQ rose 0.43% to 19,820.91. The S&P 500 also fell, dropping, 0.01% to 6,052.43.

Check This Out: How To Earn $500 A Month From Macy’s Stock Ahead Of Q3 Earnings

Leading and Lagging Sectors

Communication services shares jumped by 2.3% on Tuesday.

In trading on Tuesday, utilities shares fell by 1.1%.

Top Headline

Oracle Corporation ORCL posted weaker-than-expected earnings and sales results for its second quarter on Monday.

The company reported second-quarter revenue of $14.06 billion, up 9% year-over-year. The revenue total missed a Street consensus estimate of $14.11 billion.

Equities Trading UP

Chimerix, Inc. CMRX shares shot up 172% to $2.36 after the company announced it will submit dordaviprone for accelerated approval to the FDA for patients with recurrent H3 K27M-mutant diffuse glioma.
Shares of Cumberland Pharmaceuticals Inc. CPIX got a boost, surging 112% to $2.6400 after the company announced the FDA has approved its supplemental new drug application for acetadote.
uniQure N.V. QURE shares were also up, gaining 104% to $15.00 after the company announced an agreement with the FDA on key elements of an accelerated pathway for AMT-130.

Equities Trading DOWN

CervoMed Inc. CRVO shares dropped 75% to $2.54 after the company announced its Phase 2b trial of Neflamapimod failed to meet its key endpoints for the treatment of dementia.
Shares of Biora Therapeutics, Inc. BIOR were down 44% to $0.7499.
MEDIROM Healthcare Technologies Inc. MRM was down, falling 41% to $1.65. MEDIROM Healthcare priced its $5 million public offering of 2.86 million American Depositary Shares at $1.75 per ADS.

Commodities

In commodity news, oil traded up 0.1% to $68.40 while gold traded up 1% at $2,712.20.

Silver traded up 0.4% to $32.750 on Tuesday, while copper fell 0.6% to $4.2500.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.2%, Germany's DAX rose 0.2% and France's CAC 40 fell 0.6%. Spain's IBEX 35 Index fell 0.1%, while London's FTSE 100 fell 0.6%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 gaining 0.18%, Hong Kong's Hang Seng Index gaining 2.76%, China's Shanghai Composite Index falling 0.05% and India's BSE Sensex falling 0.25%.

Economics

U.S. nonfarm business sector labor productivity increased by 2.2% in the third quarter, in-line with the preliminary reading.

Now Read This: