Advent Technologies: Terminated Securities Purchase Agreement It Had Entered Into On July 30 With An Institutional Investor

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 1.5% and the Energy Select Sector SPDR Fund (XLE) climbing 1.6%.

The Philadelphia Oil Service Sector index spiked 1.8%, while the Dow Jones US Utilities index was falling 1.4%.

Oil prices rose following a decision by the Organization of the Petroleum Exporting Countries and its allies to delay a planned hike in production by a month, D.A. Davidson said in a note to clients.

Front-month West Texas Intermediate crude oil rose 3% to $71.58 a barrel while the global benchmark Brent crude contract was advancing 2.9% to $75.19 a barrel. Henry Hub natural gas futures climbed 4.8% to $2.79 per 1 million BTU.

In corporate news, Entergy's updated strategic business plan has bolstered growth outlook, but associated execution risks and elevated valuation are reasons to adopt a more cautious view, BofA Securities said in a note Monday. The firm downgraded Entergy to neutral from buy, but raised its price objective to $154 from $138. Entergy shares were falling 2.3%.

Advent Technologies shares soared 71%. The company said Monday that the EU Innovation Fund approved a grant of 34.5 million euros ($37.4 million) requested by its Greek subsidiary Advanced Energy Technologies for the Rhyno Project.

Talen Energy shares shed 1.7% after a Federal Energy Regulatory Commission decision rejecting an amended interconnection agreement to increase the capacity of an Amazon.com (AMZN) data center connected to Talen's Susquehanna nuclear plant in Pennsylvania.

Constellation Energy shares tumbled past 12%. Mizuho cut its price target for the company to $235 from $264, while maintaining its neutral rating. Constellation reported Q3 adjusted net income Monday of $2.74 per diluted share, up from $2.13 a year earlier. Analysts polled by Capital IQ expected $2.68.

U.S. stocks traded mostly lower toward the end of trading, with the S&P 500 slipping around 0.1% on Monday.

The Dow traded down 0.53% to 41,828.27 while the NASDAQ fell 0.04% to 18,230.05. The S&P 500 also fell, dropping, 0.11% to 5,722.67.

Check This Out: Top 2 Real Estate Stocks You May Want To Dump This Quarter

Leading and Lagging Sectors

Energy shares rose by 1.7% on Friday.

In trading on Friday, utilities shares fell by 1.2%.

Top Headline

Yum China Holdings, Inc. shares gained more than 8% on Monday after the company reported better-than-expected third-quarter EPS and revenues.

Revenue increased 5% year over year to $3.07 billion, beating the consensus of $3.05 billion. Adjusted EPS of 77 cents surpassed the street view of 68 cents.

Equities Trading UP

• Nuwellis, Inc. shares shot up 90% to $2.5803 after the company announced preliminary third-quarter financial results.
• Shares of Neurogene Inc. got a boost, surging 43% to $65.71 after the company entered a securities purchase agreement for a PIPE investment, expected to bring in gross proceeds of $200 million.
• Advent Technologies Holdings, Inc. shares were also up, gaining 62% to $3.07 after the company announced its RHyno project secured a €34.5 million grant from the EU Innovation Fund to advance fuel cell and hydrogen technology.

Equities Trading DOWN

• 1847 Holdings LLC shares dropped 36% to $0.2974. The company on Friday announced a 1-for-15 reverse stock split of its common shares, effective November 11.
• Shares of The E.W. Scripps Company were down 38% to $2.2000 following downbeat quarterly earnings.
• Centrus Energy Corp. was down, falling 27% to $80.50 after the company announced an offering of $350 million in convertible senior notes due 2030.

Commodities

In commodity news, oil traded up 2.7% to $71.38 while gold traded down 0.1% at $2,748.10.

Silver traded down 0.1% to $32.660 on Monday, while copper rose 1.4% to $4.4340.

Euro zone

European shares closed mostly lower today. The eurozone's STOXX 600 fell 0.33%, Germany's DAX fell 0.44% and France's CAC 40 fell 0.37%. Spain's IBEX 35 Index fell 0.32%, while London's FTSE 100 rose 0.29%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.30%, China's Shanghai Composite Index gaining 1.17% and India's BSE Sensex falling 1.18%.

Economics

U.S. factory orders declined by 0.5% from the previous month to $584.2 billion in September compared to a revised 0.8% fall in August.

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• Top 2 Utilities Stocks That May Crash This Quarter

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 200 points on Monday.

The Dow traded down 0.48% to 41,849.82 while the NASDAQ fell 0.10% to 18,220.82. The S&P 500 also fell, dropping, 0.17% to 5,719.28.

Check This Out: Top 2 Real Estate Stocks You May Want To Dump This Quarter

Leading and Lagging Sectors

Energy shares rose by 1.5% on Friday.

In trading on Friday, utilities shares fell by 1.3%.

Top Headline

Constellation Energy Corporation shares dipped over 10% on Monday after the company reported third-quarter results and revised its FY24 adjusted EPS guidance, which is below estimates.

Equities Trading UP

• Nuwellis, Inc. shares shot up 87% to $2.54 after the company announced preliminary third-quarter financial results.
• Shares of Neurogene Inc. got a boost, surging 42% to $65.63 after the company entered a securities purchase agreement for a PIPE investment, expected to bring in gross proceeds of $200 million.
• Advent Technologies Holdings, Inc. shares were also up, gaining 57% to $2.9882 after the company announced its RHyno project secured a €34.5 million grant from the EU Innovation Fund to advance fuel cell and hydrogen technology.

Equities Trading DOWN

• 1847 Holdings LLC shares dropped 39% to $0.2830. The company on Friday announced a 1-for-15 reverse stock split of its common shares, effective November 11.
• Shares of The E.W. Scripps Company were down 36% to $2.2499 following downbeat quarterly earnings.
• Centrus Energy Corp. was down, falling 26% to $80.63 after the company announced an offering of $350 million in convertible senior notes due 2030.

Commodities

In commodity news, oil traded up 3% to $71.57 while gold traded down 0.1% at $2,746.70.

Silver traded down 0.3% to $32.590 on Monday, while copper rose 1.2% to $4.4245.

Euro zone

European shares closed mostly lower today. The eurozone's STOXX 600 fell 0.33%, Germany's DAX fell 0.44% and France's CAC 40 fell 0.37%. Spain's IBEX 35 Index fell 0.32%, while London's FTSE 100 rose 0.29%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.30%, China's Shanghai Composite Index gaining 1.17% and India's BSE Sensex falling 1.18%.

Economics

U.S. factory orders declined by 0.5% from the previous month to $584.2 billion in September compared to a revised 0.8% fall in August.

Now Read This:

• Top 2 Utilities Stocks That May Crash This Quarter

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 200 points on Monday.

The Dow traded down 0.63% to 41,787.93 while the NASDAQ fell 0.04% to 18,233.26. The S&P 500 also fell, dropping, 0.18% to 5,718.35.

Check This Out: Top 2 Real Estate Stocks You May Want To Dump This Quarter

Leading and Lagging Sectors

Energy shares rose by 2% on Monday.

In trading on Monday, utilities shares fell by 1.1%.

Top Headline

Marriott International reported worse-than-expected third-quarter financial results and issued FY24 adjusted EPS guidance below estimates.

The company reported a third-quarter adjusted EPS of $2.26, missing the street view of $2.31. Quarterly sales of $6.26 billion marginally missed the analyst consensus of $6.27 billion.

Equities Trading UP

• Nuwellis, Inc. shares shot up 126% to $3.0800 after the company announced preliminary third-quarter financial results.
• Shares of Simpple Ltd. got a boost, surging 72% to $0.5514.
• Advent Technologies Holdings, Inc. shares were also up, gaining 68% to $3.2001 after the company announced its RHyno project secured a €34.5 million grant from the EU Innovation Fund to advance fuel cell and hydrogen technology.

Equities Trading DOWN

• 1847 Holdings LLC shares dropped 38% to $0.2894. The company on Friday announced a 1-for-15 reverse stock split of its common shares, effective November 11.
• Shares of The E.W. Scripps Company were down 35% to $2.2850 following downbeat quarterly earnings.
• Fundamental Global Inc. F was down, falling 29% to $15.51.

Commodities

In commodity news, oil traded up 2.4% to $71.16 while gold traded down 0.1% at $2,746.70.

Silver traded down 0.2% to $32.625 on Monday, while copper rose 1.4% to $4.4355.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.2%, Germany's DAX fell 0.4% and France's CAC 40 fell 0.4%. Spain's IBEX 35 Index fell 0.1%, while London's FTSE 100 rose 0.3%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.30%, China's Shanghai Composite Index gaining 1.17% and India's BSE Sensex falling 1.18%.

Economics

U.S. factory orders declined by 0.5% from the previous month to $584.2 billion in September compared to a revised 0.8% fall in August.

Now Read This:

• Top 2 Utilities Stocks That May Crash This Quarter

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.