Dow Jumps Over 150 Points; CyberArk Posts Upbeat Earnings

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 150 points on Wednesday.

The Dow traded up 0.44% to 44,103.23 while the NASDAQ rose 0.11% to 19,302.79. The S&P 500 also rose, gaining, 0.28% to 6,000.98.

Check This Out: Top 4 Consumer Stocks That May Explode In November

Leading and Lagging Sectors

Real estate shares surged by 1% on Wednesday.

In trading on Wednesday, communication services shares fell by 0.7%.

Top Headline

CyberArk Software Ltd CYBR reported better-than-expected earnings for its third quarter.

The company posted fiscal third-quarter 2024 revenue growth of 26% year-on-year to $240.1 million, beating the analyst consensus estimate of $234.0 million. The information security company posted an adjusted EPS of 94 cents, which beat the analyst consensus estimate of 46 cents.

Equities Trading UP
                       

  • Microvast Holdings, Inc. MVST shares shot up 370% to $0.8500 after the company reported better-than-expected third-quarter financial results.
  • Shares of BTC Digital Ltd. BTCT got a boost, surging 70% to $17.89 after the company announced an agreement with Recte Technologies and Asia Investment Fund to host 1,100 bitcoin mining machines in the US.
  • Kaixin Holdings KXIN shares were also up, gaining 104% to $5.94 after the company announced it received a Nasdaq letter indicating it has regained compliance with the minimum bid price requirement.

Equities Trading DOWN

  • Syros Pharmaceuticals, Inc. SYRS shares dropped 86% to $0.3799 after the company announced its SELECT-MDS-1 Phase 3 trial of tamibarotene did not meet its primary endpoint and has discontinued the study.
  • Shares of GlucoTrack, Inc. GCTK were down 74% to $0.4000 after the company announced a $10 million public offering of 7.2 million shares with attached warrants.
  • Wag! Group Co. PET was down, falling 68% to $0.2127 after the company reported worse-than-expected third-quarter financial results and cut its FY24 revenue outlook.

Commodities

In commodity news, oil traded down 1.1% to $67.36 while gold traded down 0.1% at $2,604.10.

Silver traded up 0.1% to $30.775 on Wednesday, while copper fell 1.2% to $4.0865.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.51%, Germany's DAX fell 0.82% and France's CAC 40 fell 0.69%. Spain's IBEX 35 Index fell 0.38%, while London's FTSE 100 fell 0.27%.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 1.66%, Hong Kong's Hang Seng Index falling 0.12%, China's Shanghai Composite Index gaining 0.51% and India's BSE Sensex falling 1.25%.

Economics

  • U.S. mortgage applications rose 0.5% from the previous week in the week ending Nov. 8.
  • U.S. annual inflation rate rose to 2.6% in October from 2.4% in the previous month, and in-line with market estimates. The CPI rose 0.2% month-over-month in October.

Now Read This:

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsEquitiesNewsEurozoneCommoditiesMarketsTrading IdeasMid Afternoon Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!