US Stocks Fall; Tyson Foods Posts Upbeat Earnings

U.S. stocks traded lower this morning, with the Nasdaq Composite falling around 100 points on Monday.

Following the market opening Monday, the Dow traded down 0.08% to 34,254.53 while the NASDAQ fell 0.72% to 13,698. The S&P 500 also fell, dropping, 0.43% to 4,396.18.

Check This Out: Top 4 Consumer Stocks That May Fall Off A Cliff In Q4

 

Leading and Lagging Sectors

 

Consumer staples shares surged by 0.2% on Monday.

In trading on Monday, real estate shares fell by 1.2%.

 

Top Headline

 

Tyson Foods, Inc. TSN posted better-than-expected earnings for its fourth quarter.

Tyson Foods posted quarterly earnings of 37 cents per share, beating market estimates of 29 cents per share. The company’s quarterly sales came in $13.35 billion, versus expectations of $13.73 billion.

Tyson said it sees total company adjusted operating income of $1 billion to $1.5 billion in FY24.

 

Equities Trading UP

 

Tenax Therapeutics, Inc TENX shares shot up 149% to $0.3887 after the company announced FDA clearance of IND for TNX-103 for the treatment of pulmonary hypertension with heart failure with preserved ejection fraction.

Shares of Tivic Health Systems, Inc. TIVC got a boost, shooting 97% to $2.3580. BestGrowthStocks.Com issued comprehensive analysis of Tivic Health Systems.

ZyVersa Therapeutics, Inc. ZVSA shares were also up, gaining 29% to $0.0853.

Equities Trading DOWN

 

Aclaris Therapeutics, Inc. ACRS shares dropped 87% to $0.6186 after the company announced topline results from 12-week Phase 2b trial of oral zunsemetinib for moderate to severe rheumatoid arthritis.

Shares of Mainz Biomed N.V. MYNZ were down 43% to $1.2750 after the company reported pricing of $5 million registered direct offering of 4,166,667 shares at $1.20 per share.

Verve Therapeutics, Inc. VERV was down, falling 44% to $8.76 after the company announced first human proof-of-concept data for in vivo base editing from the ongoing heart-1 phase 1b clinical trial of VERVE-101.

Also Check This Out: This Analyst With 84% Accuracy Rate Sees Around 21% Upside In Uber Technologies - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

 

Commodities

 

In commodity news, oil traded down 0.1% to $77.15 while gold traded up 0.2% at $1,941.40.

Silver traded down 0.7% to $22.130 on Monday while copper rose 1.3% to $3.6320.

 

Euro zone

 

European shares were higher today. The eurozone’s STOXX 600 gained 0.6%, London’s FTSE 100 rose 0.5% while Spain’s IBEX 35 Index rose 0.6% The German DAX rose 0.3% French CAC 40 rose 0.4%, while Italy’s FTSE MIB Index climbed 1.1%.

German current account increased to EUR 28.1 billion in September from EUR 12.5 billion in the year-ago month.

 

Asia Pacific Markets

 

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 rising 0.05%, Hong Kong’s Hang Seng Index gaining 1.30% and China’s Shanghai Composite Index gaining 0.25%. India’s S&P BSE Sensex, meanwhile, fell around 0.5%.

Producer prices in Japan increased by 0.8% year-over-year in October versus a revised 2.2% rise in the earlier month. Japan’s machine tool orders dipped 20.6% year-over-year to JPY 112,027 million in October compared to an 11.2% decline in the prior month. Total passenger vehicle sales in India jumped by 17.3% year-over-year to 341,377 in October compared to a 3.1% increase in the prior month.

 

Economics

 

The U.S. Treasury statement for October will be released at 2:00 p.m. ET.

Now Read This: Fear Among US Investors Is Easing, Here's Why