Dj Coo Appajosyula Buys 5000 Of Tharimmune Inc >Thar

Health care stocks were lower late Wednesday afternoon, with the NYSE Health Care Index shedding 0.5% and the Health Care Select Sector SPDR Fund (XLV) down 0.4%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Tharimmune shares soared 63% after the firm said it received "positive feedback" from the European Medicines Agency for TH104 clinical program for moderate-to-severe pruritus in primary biliary cholangitis.

Cryo-Cell International shares surged 26% after the company reported its first dividend of $0.25 per share, payable on Nov. 29 to shareholders of record on Nov. 15.

Eli Lilly's Q3 results rose year over year but missed Wall Street expectations while the drugmaker cut its full-year earnings outlook amid acquisition-related charges. Its shares tumbled 7%.

AbbVie lifted its full-year outlook as it recorded better-than-expected Q3 results amid robust sales of its Skyrizi and Rinvoq immunology drugs. The shares jumped 6.3%.

Health care stocks were lower late Wednesday afternoon, with the NYSE Health Care Index shedding 0.5% and the Health Care Select Sector SPDR Fund (XLV) down 0.4%.

The iShares Biotechnology ETF (IBB) rose 0.1%.

In corporate news, Tharimmune shares soared 71% after the company said it received "positive feedback" from the European Medicines Agency regarding TH104, its candidate to treat moderate-to-severe pruritus in primary biliary cholangitis.

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining around 0.1% on Wednesday.

The Dow traded up 0.07% to 42,262.68 while the NASDAQ fell 0.05% to 18,703.09. The S&P 500 also fell, dropping, 0.03% to 5,831.09.

Check This Out: Top 3 Tech And Telecom Stocks Which Could Rescue Your Portfolio For October

Leading and Lagging Sectors

Communication services shares rose by 1.8% on Wednesday.

In trading on Wednesday, information technology shares fell by 0.9%.

Top Headline

On Wednesday, Eli Lilly and Co posted worse-than-expected third-quarter earnings and lowered 2024 guidance.

The U.S. pharma giant reported third-quarter revenue of $11.44 billion, up 20% year over year, but it missed the consensus of $12.10 billion. The company reported an adjusted EPS of $1.18, compared to $0.10 from a year ago and missing the consensus of $1.45.

Eli Lilly said it sees fiscal year 2024 sales of $45.4 billion—$46 billion, compared to prior guidance of $45.4 billion—$46.6 billion and consensus of $46.24 billion. Eli Lilly lowered its 2024 adjusted EPS guidance to $13.02-$13.52 versus prior guidance of $16.10-$16.60 and consensus of $13.47, driven by the acquired IPR&D charges incurred in Q3.

Equities Trading UP

• Tharimmune, Inc. shares shot up 79% to $3.61 after the company announced it received EMA feedback on its TH104 clinical program. The design and main features of the proposed Phase 2 study were deemed acceptable and general guidance was also provided for a future Phase 3 study.
• Shares of Omnicell, Inc. got a boost, surging 31% to $52.47 after the company reported better-than-expected third-quarter financial results and raised its FY24 guidance above estimates.
• Reddit, Inc. shares were also up, gaining 44% to $117.36 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter revenue guidance above estimates.

Equities Trading DOWN

• SRIVARU Holding Limited shares dropped 55% to $0.0304 after the company announced it upsized its $6.8 million public offering.
• Shares of The Container Store Group, Inc. were down 37% to $5.27 following second-quarter results.
• Applied DNA Sciences, Inc. was down, falling 39% to $0.1938 after the company announced the pricing of a registered direct offering of 20,312,500 shares at $0.32 per share. The company also announced a concurrent private placement.

Commodities

In commodity news, oil traded up 2.3% to $68.75 while gold traded up 0.7% at $2,799.70.

Silver traded down 1% to $34.095 on Wednesday, while copper rose 0.1% to $4.3640.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 dipped 1.25%, Germany's DAX fell 1.13% and France's CAC 40 slipped 1.10%. Spain's IBEX 35 Index fell 0.68%, while London's FTSE 100 fell 0.73%.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 gaining 0.96%, Hong Kong's Hang Seng Index dipping 1.55%, China's Shanghai Composite Index falling 0.61% and India's BSE Sensex falling 0.53%.

Economics

• Pending home sales in the U.S. surged by 7.4% from the previous month in September, compared to a 0.6% gain in August.
• The U.S. economy grew by an annualized 2.8% in the third quarter, from 3% in the second quarter.
• Private businesses in the U.S. hired 233K workers to their payrolls in October compared to a revised 159K gain in September.
• Crude oil inventories in the U.S. declined by 0.515 million barrels in the week ended October 25, compared to a 5.474 million gain in the prior week and versus market estimates of a 2.3 million gain.

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