Nasdaq Jumps 100 Points; Tyson Foods Sales Miss Views

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

The Dow traded up 0.25% to 38,772.28 while the NASDAQ rose 0.64% to 16,260.19. The S&P 500 also rose, gaining, 0.59% to 5,157.96.

Check This Out: Wall Street’s Most Accurate Analysts’ Views On 3 Tech & Telecom Stocks Delivering High-Dividend Yields

Leading and Lagging Sectors

Energy shares rose by 1.5% on Monday.

In trading on Friday, consumer staples shares fell by 0.4%.

Top Headline

Tyson Foods Inc TSN reported weaker-than-expected sales for its second quarter.

The company posted a second-quarter FY24 sales decline of 0.46% year-on-year to $13.072 billion, missing the analyst consensus estimate of $13.157 billion. Adjusted EPS of 62 cents beat the consensus estimate of 39 cents.

Equities Trading UP
                       

  • Holdco Nuvo Group D.G Ltd NUVO shares shot up 222% to $6.57.
  • Shares of Strong Global Entertainment, Inc. SGE got a boost, surging 150% to $2.84 fter FG Acquisition Corp. announced the proposed acquisition of Strong/MDI Screen Systems and the launch of Saltire Holdings.
  • XBP Europe Holdings, Inc. XBP shares were also up, gaining 62% to $3.4293. XBP Europe Holdings was recently awarded a $40 million multi-year contract for a nationwide transformation project for His Majesty’s Passport Office.

Equities Trading DOWN

  • Lyra Therapeutics, Inc LYRA shares dropped 90% to $0.4013 after the company announced the ENLIGHTEN 1 trial did not meet its primary endpoint.
  • Shares of GlycoMimetics, Inc GLYC were down 79% to $0.3831 after the company announced topline results from its Phase 3 global pivotal study of uproleselan in relapsed/refractory acute myeloid leukemia (R/R AML).
  • EyePoint Pharmaceuticals, Inc EYPT was down, falling 39% to $11.99 after the company’s Phase 2 PAVIA trial of DURAVYU did not meet its pre-specified primary endpoint.

Also Check This Out: Top 2 Consumer Stocks That May Plunge This Quarter

Commodities

In commodity news, oil traded up 0.7% to $78.63 while gold traded up 0.9% at $2,329.90.

Silver traded up 2.9% to $27.45 on Monday, while copper rose 1.3% to $4.6165.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.5%, Germany's DAX rose 0.9% and France's CAC 40 gained 0.4%. Spain's IBEX 35 Index rose 0.5%, while London's FTSE 100 rose 0.5%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei falling 0.1%, Hong Kong's Hang Seng Index jumping 0.55% and India's S&P BSE Sensex rising 0.02%.

Economics

No major economic reports will be released today.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsEurozoneCommoditiesIntraday UpdateMarketsTrading IdeasMid Morning 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!