Bioventus Is Maintained at Buy by Canaccord Genuity

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 1% on Tuesday.

The Dow traded up 0.96% to 42,197.88 while the NASDAQ rose 1.26% to 18,408.47. The S&P 500 also rose, gaining, 1.03% to 5,771.80.

Check This Out: Wall Street’s Most Accurate Analysts Spotlight On 3 Financial Stocks Delivering High-Dividend Yields

Leading and Lagging Sectors

Consumer discretionary shares surged by 1.8% on Tuesday.

In trading on Tuesday, energy shares rose by just 0.3%.

Top Headline

Yum! Brands, Inc. posted downbeat results for its third quarter

The company reported third-quarter adjusted earnings per share of $1.37 missing the street view of $1.41. Yum! Brands reported a 4% increase in same-store sales for Taco Bell in the U.S., and a 9% unit growth for KFC International. The company's quarterly revenues of $1.826 billion missed the analyst consensus of $1.899 billion.

Equities Trading UP

• Bionomics Limited shares shot up 170% to $0.5189 after the company announced it secured an AUS$1 million milestone payment from Carina Biotech for its BNC101 oncology program, with the potential to earn up to AUS$118 million.
• Shares of Vimeo Inc got a boost, surging 44% to $6.91 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates.
• ZyVersa Therapeutics, Inc. shares were also up, gaining 33% to $2.43 after the company highlighted data showing the potential of inflammasome inhibition to protect pancreatic islet beta cells and attenuate progression from obesity to insulin resistance and type 2 diabetes.

Equities Trading DOWN

• Marqeta, Inc. shares dropped 40% to $3.55 after the company reported worse-than-expected Q3 sales results. Also, multiple firms downgraded their respective ratings on the company and lowered their respective price targets.
• Shares of Verrica Pharmaceuticals Inc. were down 41% to $0.8499 following downbeat quarterly results.
• Bioventus Inc. was down, falling 18% to $11.19 after the company announced third-quarter results.

Commodities

In commodity news, oil traded up 0.3% to $71.70 while gold traded up 0.2% at $2,750.20.

Silver traded up 0.4% to $32.725 on Tuesday, while copper rose 0.7% to $4.4645.

Euro zone

European shares closed mostly higher today. The eurozone's STOXX 600 rose 0.06%, Germany's DAX gained 0.57% and France's CAC 40 rose 0.48%. Spain's IBEX 35 Index rose 0.29%, while London's FTSE 100 fell 0.14%.

Spain's consumer confidence indicator declined by 4.6 points to a reading of 84.8 in September.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 1.11%, Hong Kong's Hang Seng Index gaining 2.14%, China's Shanghai Composite Index gaining 2.32% and India's BSE Sensex gaining 0.88%.

Economics

• The trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August.
• The ISM services PMI rose to 56 in October, recording the highest reading since Aug. 2022.
• The S&P Global composite PMI rose to 54.1 in October compared to 54.0 in September.

Now Read This:

• Top 3 Consumer Stocks That May Keep You Up At Night This Quarter

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

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 350 points on Tuesday.

The Dow traded up 0.86% to 42,154.69 while the NASDAQ rose 1.25% to 18,407.20. The S&P 500 also rose, gaining, 1.01% to 5,770.63.

Check This Out: Wall Street’s Most Accurate Analysts Spotlight On 3 Financial Stocks Delivering High-Dividend Yields

Leading and Lagging Sectors

Consumer discretionary shares surged by 1.7% on Tuesday.

In trading on Tuesday, energy shares rose by just 0.3%.

Top Headline

The trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August.

Equities Trading UP

• Bionomics Limited shares shot up 156% to $0.49 after the company announced it secured an AUS$1 million milestone payment from Carina Biotech for its BNC101 oncology program, with the potential to earn up to AUS$118 million.
• Shares of Vimeo Inc got a boost, surging 45% to $6.95 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates.
• ZyVersa Therapeutics, Inc. shares were also up, gaining 33% to $2.41 after the company highlighted data showing the potential of inflammasome inhibition to protect pancreatic islet beta cells and attenuate progression from obesity to insulin resistance and type 2 diabetes.

Equities Trading DOWN

• Marqeta, Inc. shares dropped 41% to $3.52 after the company reported worse-than-expected Q3 sales results. Also, multiple firms downgraded their respective ratings on the company and lowered their respective price targets.
• Shares of Verrica Pharmaceuticals Inc. were down 40% to $0.86 following downbeat quarterly results.
• Bioventus Inc. was down, falling 20% to $10.97 after the company announced third-quarter results.

Commodities

In commodity news, oil traded up 0.5% to $71.83 while gold traded up 0.2% at $2,750.40.

Silver traded up 0.5% to $32.775 on Tuesday, while copper rose 0.9% to $4.4720.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.06%, Germany's DAX gained 0.57% and France's CAC 40 rose 0.48%. Spain's IBEX 35 Index rose 0.29%, while London's FTSE 100 fell 0.14%.

Spain's consumer confidence indicator declined by 4.6 points to a reading of 84.8 in September.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 1.11%, Hong Kong's Hang Seng Index gaining 2.14%, China's Shanghai Composite Index gaining 2.32% and India's BSE Sensex gaining 0.88%.

Economics

The trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August.

Now Read This:

• Top 3 Consumer Stocks That May Keep You Up At Night This Quarter

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