Dow Tumbles 200 Points; Liquidity Services Shares Spike Higher

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling around 200 points on Thursday.

The Dow traded down 0.46% to 43,947.18 while the NASDAQ fell 0.38% to 19,957.81. The S&P 500 also fell, dropping, 0.34% to 6,063.38.

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Leading and Lagging Sectors

Consumer staples shares jumped by 0.5% on Thursday.

In trading on Thursday, health care shares fell by 0.5%.

Top Headline

Shares of Ciena Corp CIEN jumped more than 15% on Thursday after the company released fourth-quarter results.

The company reported a fiscal fourth-quarter 2024 revenue decline of 0.5% year-on-year to $1.124 billion, beating the analyst consensus estimate of $1.104 billion. The American telecommunications networking equipment and software services supplier reported adjusted EPS of 54 cents, missing the analyst consensus estimate of 66 cents.

Equities Trading UP
                       

• Liquidity Services, Inc. LQDT shares shot up 32% to $34.02 after the company reported better-than-expected fourth-quarter financial results.
• Shares of Trevi Therapeutics, Inc. TRVI got a boost, surging 72% to $4.28 after the company announced positive outcomes for the treatment of patients from its chronic cough Phase 2b CORAL trial.
• 3D Systems Corporation DDD shares were also up, gaining 21% to $4.07 after the company inked a definitive agreement to sell its Geomagic software portfolio to Hexagon's Manufacturing Intelligence Division for $123 million.

Equities Trading DOWN

• Sacks Parente Golf, Inc. SPGC shares dropped 74% to $0.37 after the company priced an upsized $8.4 million underwritten public offering of 7 million common units at $1.20 per unit.
• Shares of Keros Therapeutics, Inc KROS were down 74% to $18.12 after the company announced it halted treatment in the 3.0 mg/kg and 4.5 mg/kg arms of its ongoing TROPOS trial due to safety concerns..
• The Lovesac Company LOVE was down, falling 27% to $27.38 after the company reported mixed third-quarter financial results.

Commodities

In commodity news, oil traded up 0.1% to $70.38 while gold traded down 1.7% at $2,709.40.

Silver traded down 4.1% to $31.630 on Thursday, while copper fell 0.6% to $4.2400.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.14%, Germany's DAX rose 0.13% and France's CAC 40 fell 0.03%. Spain's IBEX 35 Index slipped 0.21%, while London's FTSE 100 rose 0.12%.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 gaining 1.21%, Hong Kong's Hang Seng Index gaining 1.20%, China's Shanghai Composite Index gaining 0.85% and India's BSE Sensex falling 0.29%.

Economics

• U.S. initial jobless claims increased by 17,000 from the previous week to a reading of 242,000 during the first week of December, compared to market estimates of 220,000.
• Core producer prices increased by 0.2% month-over-month in November compared to a 0.3% increase in the previous month and in-line with market expectations.
• U.S. natural-gas stocks fell 190 billion cubic feet to 3.747 trillion cubic feet in the week ended Dec. 6, compared to market estimates of a 170 billion cubic feet decline.

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