Nasdaq Surges 150 Points; Cisco Earnings Top Views

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 150 points on Thursday.

The Dow traded up 0.33% to 44,513.97 while the NASDAQ rose 0.78% to 19,804.09. The S&P 500 also rose, gaining, 0.51% to 6,082.97.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 1.1% on Thursday.

In trading on Thursday, health care shares rose by just by 0.1%.

Top Headline

Cisco Systems, Inc. CSCO reported better-than-expected second-quarter financial results after Wednesday’s closing bell.

Cisco reported quarterly earnings of 94 cents per share, which beat the analyst consensus estimate of 91 cents. Quarterly revenue clocked in at $13.9 billion, beating the $13.87 billion consensus estimate.

Cisco said it sees third-quarter EPS between 90 cents and 92 cents, versus the 92 cent estimate, and revenue in a range of $13.9 billion to $14.1 billion, versus the $13.86 billion estimate. The company expects fiscal 2025 EPS between $3.68 and $3.74, versus the $3.66 estimate, and revenue in a range of $56 billion to $56.5 billion, versus the $55.98 billion estimate.

Equities Trading UP

AppLovin Corporation APP shares shot up 34% to $508.36 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates.
Shares of Dutch Bros Inc. BROSgot a boost, surging 30% to $83.96 following better-than-expected quarterly financial results.
Edesa Biotech, Inc. EDSA shares were also up, gaining 88% to $3.50. The company announced a $15 million private placement.

Equities Trading DOWN

Digital Ally, Inc. DGLY shares dropped 52% to $0.0746 after the company priced a $15 million underwritten public offering.
Shares of The Trade Desk, Inc. TTD were down 32% to $83.28 following downbeat quarterly revenue.
West Pharmaceutical Services, Inc. WST was down, falling 31% to $223.65 following weak FY25 guidance.

Commodities

In commodity news, oil traded down 0.4% to $71.10 while gold traded up 0.6% at $2,945.00.

Silver traded down 0.7% to $32.555 on Thursday, while copper rose 0.4% to $4.7220.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 1.01%, Germany's DAX 40 rose 1.77% and France's CAC 40 rose 1.57%. Spain's IBEX 35 Index rose 0.39%, while London's FTSE 100 fell 0.56%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 1.28%, China's Shanghai Composite Index falling 0.42%, Hong Kong's Hang Seng Index falling 0.20% and India's BSE Sensex falling 0.04%.

Economics

The Producer Price Index surged 3.5% year over year in January, according to Thursday’s release from the Bureau of Labor Statistics.
U.S. initial jobless claims declined by 7,000 from the previous week to 213,000 during the first week of February, down from market estimates of 215,000

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