Nasdaq Surges 100 Points; CoreCivic Shares Plummet

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining around 100 points on Tuesday.

The Dow traded down 0.39% to 38,718.00 while the NASDAQ rose 0.60% to 17,295.62. The S&P 500 also rose, gaining, 0.10% to 5,366.07.

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Leading and Lagging Sectors

Information technology shares climbed by 1.3% on Tuesday.

In trading on Tuesday, financials shares fell by 1.2%.

Top Headline

Shares of Calavo Growers, Inc. CVGW rose more than 5% during Tuesday's session after the company reported second-quarter financial results.

Total net sales surged 16.5% year-over-year to $184.4 million during the quarter. Adjusted net income surged to $8.9 million, or 50 cents per diluted share, from $5.1 million, or 29 cents per diluted share for the year-ago quarter.

Equities Trading UP
                       

• Trio Petroleum Corp. TPET shares shot up 58% to $0.3643 after the company completed its first two exploratory wells.
• Shares of CuriosityStream Inc. CURI got a boost, surging 24% to $1.22 as the company announced a share repurchase plan.
• Airship AI Holdings, Inc.  AISP shares were also up, gaining 37% to $4.3099. Airship AI announced a six-figure sole-source contract award within the Department of Justice for Acropolis Enterprise Video and Data Management Platform.

Equities Trading DOWN

• Target Hospitality Corp. TH shares dropped 32% to $7.12 after the company announced that it received notice that the U.S. government intends to terminate the existing South Texas Family Residential Center services agreement with its migrant programming partner.
• Shares of Barnes & Noble Education, Inc. BNED were down 30% to $0.0943. Barnes & Noble Education announced leadership changes and reverse stock split.
• CoreCivic, Inc CXW was down, falling 21% to $11.73 after the company announced that it received a termination notice from the U.S. Immigration and Customs Enforcement Agency (ICE).

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Commodities

In commodity news, oil traded up 0.3% to $77.99 while gold traded up 0.2% at $2,330.70.

Silver traded down 1.9% to $29.305 on Tuesday, while copper fell 0.6% to $4.5145.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 fell 0.93%, Germany's DAX declined 0.68% and France's CAC 40 fell 1.33%. Spain's IBEX 35 Index fell 1.60%, while London's FTSE 100 fell 0.98%.

The number of people in work in the UK fell by 139 thousand during the three months to April, while average weekly earnings including bonuses rose 5.9% year-over-year to GBP 687 per week. The UK's unemployment rate increased to 4.4% from February to April, compared to the prior three-month period's 4.3% level.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei gaining 0.25%, Hong Kong's Hang Seng Index falling 1.04%, China's Shanghai Composite Index declining 0.76% and India's S&P BSE Sensex gaining 0.2%.

Japan's machine tool orders gained by 4.2% year-over-year to JPY 124,554 million in May compared to an 11.6% decline in the prior month.

Economics

The NFIB Small Business Optimism Index climbed to 90.5 in May, notching the highest level in five months, compared to 89.7 in April and also topping market estimates of 89.8.

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