Cytek Biosciences Inc At Ubs Global Healthcare Conference

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 500 points on Wednesday.

The Dow traded up 3.45% to 43,678.43 while the NASDAQ rose 2.84% to 18,963.41. The S&P 500 also rose, gaining, 2.44% to 5,923.85.

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Leading and Lagging Sectors

Financial shares surged by 5.9% on Tuesday.

In trading on Tuesday, real estate shares fell by 3.3%.

Top Headline

Johnson Controls International plc reported better-than-expected earnings for its fourth quarter on Wednesday.

The company posted quarterly earnings of $1.28 per share which beat the analyst consensus estimate of $1.20 per share. The company reported quarterly sales of $7.39 billion which beat the analyst consensus estimate of $7.17 billion.

Equities Trading UP

• Cytek Biosciences, Inc. shares shot up 29% to $7.02 following upbeat quarterly results.
• Shares of United Fire Group, Inc. got a boost, surging 26% to $25.15 following upbeat quarterly earnings.
• Treace Medical Concepts, Inc. shares were also up, gaining 32% to $7.59 following strong quarterly results.

Equities Trading DOWN

• Sunnova Energy International Inc. shares dropped 49% to $3.5750. Shares of solar stocks traded lower following Donald Trump’s presidential election victory.
• Shares of Zoomcar Holdings, Inc. were down 50% to $6.65 after the company announced the pricing of $9.15 million private placement.
• PACS Group, Inc. was down, falling 42% to $17.00 after the company announced postponement of third-quarter results and disclosure on civil investigative demands from the federal government.

Commodities

In commodity news, oil traded up 0.1% to $72.05 while gold traded down 2.7% at $2,676.50.

Silver traded down 4.4% to $31.345 on Wednesday, while copper fell 5.2% to $4.2445.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.54%, Germany's DAX dipped 1.13% and France's CAC 40 fell 0.51%. Spain's IBEX 35 Index fell 2.90%, while London's FTSE 100 fell 0.07%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 2.61%, Hong Kong's Hang Seng Index falling 2.23%, China's Shanghai Composite Index falling 0.09% and India's BSE Sensex gaining 1.13%.

Economics

• U.S. mortgage applications fell by 10.8% from the previous week in the week ended Nov. 1.
• U.S. crude oil inventories increased by 2.149 million barrels in the week ended Nov. 1, compared to market estimates of a 1.8 million gain.

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U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 2% on Wednesday.

The Dow traded up 3.17% to 43,561.18 while the NASDAQ rose 2.23% to 18,849.87. The S&P 500 also rose, gaining, 1.95% to 5,895.66.

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Leading and Lagging Sectors

Financial shares surged by 5.3% on Tuesday.

In trading on Tuesday, real estate shares fell by 3.2%.

Top Headline

Shares of CVS Health Corp jumped more than 10% on Wednesday after the company reported third-quarter results.

The company reported third-quarter sales of $95.43 billion, beating the consensus of $92.75 billion. Total revenues increased 6.3%, primarily driven by growth in the Health Care Benefits and Pharmacy & Consumer Wellness segments, partially offset by a decline in the Health Services segment.

Adjusted EPS of $1.09 (inline with preliminary guidance of $1.05-$1.10) decreased from $2.21 in the prior year, missing the consensus of $1.53.

Equities Trading UP

• Cytek Biosciences, Inc. shares shot up 31% to $7.14 following upbeat quarterly results.
• Shares of Sonnet BioTherapeutics Holdings, Inc. S got a boost, surging 100% to $8.41 after the company announced the issuance of a U.S. patent covering an IL-18 variant into two novel immunotherapeutic drug candidates.
• Treace Medical Concepts, Inc. shares were also up, gaining 24% to $7.15 following strong quarterly results.

Equities Trading DOWN

• Sunnova Energy International Inc. shares dropped 42% to $4.12. Shares of solar stocks traded lower following Donald Trump’s presidential election victory.
• Shares of Zoomcar Holdings, Inc. were down 39% to $8.05 after the company announced the pricing of $9.15 million private placement.
• PACS Group, Inc. was down, falling 38% to $18.30 after the company announced postponement of third-quarter results and disclosure on civil investigative demands from the federal government.

Commodities

In commodity news, oil traded up 0.8% to $72.53 while gold traded down 2.4% at $2,683.70.

Silver traded down 3.9% to $31.505 on Wednesday, while copper fell 4.5% to $4.2755.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.61%, Germany's DAX dipped 1.23% and France's CAC 40 fell 0.85%. Spain's IBEX 35 Index fell 3.14%, while London's FTSE 100 fell 0.08%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 2.61%, Hong Kong's Hang Seng Index falling 2.23%, China's Shanghai Composite Index falling 0.09% and India's BSE Sensex gaining 1.13%.

Economics

• U.S. mortgage applications fell by 10.8% from the previous week in the week ended Nov. 1.
• U.S. crude oil inventories increased by 2.149 million barrels in the week ended Nov. 1, compared to market estimates of a 1.8 million gain.

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• Wall Street’s Most Accurate Analysts Give Their Take On 3 Health Care Stocks With Over 3% Dividend Yields

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

U.S. stocks were higher, with the Dow Jones index gaining around 1,300 points on Wednesday.

Shares of Mercury Systems, Inc. rose sharply during Wednesday's session after the company reported better-than-expected quarterly financial results.

Mercury Systems reported quarterly earnings of 4 cents per share which beat the analyst consensus estimate of a loss of 8 cents per share. The company reported quarterly sales of $204.431 million which beat the analyst consensus estimate of $181.772 million.

Mercury Systems shares jumped 16.7% to $39.90 on Tuesday.

Here are some other big stocks recording gains in today's session.

• The GEO Group, Inc. shares jumped 36.2% to $20.60.
• CoreCivic, Inc. shares gained 28.2% to $17.47.
• Cytek Biosciences, Inc. jumped 28% to $6.96 following upbeat quarterly results.
• Treace Medical Concepts, Inc. shares gained 26.3% to $7.22 following strong quarterly results.
• United Fire Group, Inc. surged 23.3% to $24.58 following upbeat quarterly earnings.
• Revolve Group, Inc. gained 19.8% to $31.18 following third-quarter results.
• Rayonier Advanced Materials Inc. rose 19.8% to $9.75 after posting third-quarter results.
• Coinbase Global, Inc. gained 18.3% to $229.39.
• ArcBest Corporation rose 16.6% to $121.35 following quarterly results.
• Kennametal Inc. gained 16.3% to $30.91 following better-than-expected quarterly earnings.
• Synchrony Financial gained 16.2% to $66.03.
• Evercore Inc. rose 15.4% to $313.80.
• Nucor Corporation surged 15.2% to $166.57.
• Piper Sandler Companies rose 15.1% to $334.57.
• Robinhood Markets, Inc. surged 14.9% to $28.68.
• Qualys, Inc. gained 13.6% to $145.65 after the company reported better-than-expected third-quarter financial results and raised its FY24 guidance.
• Capital One Financial Corporation gained 12.8% to $187.38.
• Steel Dynamics, Inc. surged 12.8% to $153.07.
• Tesla, Inc. rose 12.6% to $282.93 following Trump win.
• The Goldman Sachs Group, Inc. gained 12.4% to $592.23.
• CVS Health Corporation surged 10.7% to $61.26 following strong quarterly revenue.

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