Nasdaq Gains Over 100 Points; Delta Air Lines Posts Upbeat Earnings

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining more than 100 points on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.22% to 37,561.88 while the NASDAQ climbed 0.86% to 15,399.10. The S&P 500 also rose, gaining, 0.12% to 4,988.76.

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Leading and Lagging Sectors

Information technology shares surged by 1.4% on Wednesday.

In trading on Wednesday, real estate shares fell by 2%.

Top Headline

Delta Air Lines, Inc. DAL reported better-than-expected first-quarter 2025 results on Wednesday.

Delta reported fourth-quarter operating revenue growth of 2% year-over-year to $14.04 billion, beating the consensus of $13.02 billion. Adjusted EPS was 46 cents (+2% YoY), beating the consensus of 38 cents.

For the second quarter, DAL said it sees total revenue to be down 2% to up 2% over the prior year, with an operating margin of 11%—14%. Adjusted earnings per share are expected between $1.70 and $2.30 versus the $2.39 estimate.

Delta is not reaffirming its full-year 2025 financial guidance and plans to provide an update later in the year as market visibility improves.

Equities Trading UP

Venus Concept Inc. VERO shares shot up 320% to $12.10 after the company announced it secured $23.24 million in bridge financing from Madryn Health Partners.
Shares of Phio Pharmaceuticals Corp. PHIOgot a boost, surging 69% to $1.7101 after the company announced its Safety Monitoring Committee recommended dose escalation in the Phase 1b trial of PH-762.
22nd Century Group, Inc. XXII shares were also up, gaining 81% to $1.90 after the company announced new agreements from former customers to supply filtered cigar products.

Equities Trading DOWN

Femto Technologies Inc. FMTO shares dropped 96% to $0.1000.
Shares of Vincerx Pharma, Inc. VINC were down 55% to $0.2450 after the company announced it terminated its letter of intent with Global Digital regarding a potential merger.
SUNation Energy Inc. SUNE was down, falling 28% to $0.0217. The company recently announced it closed the final tranche of its registered direct offering.

Commodities

In commodity news, oil traded down 6.1% to $55.94 while gold traded up 2.5% at $3,064.60.

Silver traded up 1.6% to $30.145 on Wednesday, while copper rose 0.2% to $4.1515.

Euro zone

European shares were lower today. The eurozone's STOXX 600 dipped 4.5%, Germany's DAX 40 dipped 4.2% and France's CAC 40 tumbled 4.2%. Spain's IBEX 35 Index fell 3.6%, while London's FTSE 100 fell 3.6%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 3.93%, China's Shanghai Composite gaining 1.31%, Hong Kong's Gang Seng index rising 0.68% and India's BSE Sensex falling 0.51%.

Economics

U.S. mortgage application volumes climbed by 20% from the previous week during the first week of April.

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