Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 100 points on Monday.
The Dow traded up 0.35% to 38,811.58 while the NASDAQ rose 0.95% to 16,309.74. The S&P 500 also rose, gaining, 0.82% to 5,169.93.
Leading and Lagging Sectors
Energy shares rose by 1.5% on Monday.
In trading on Friday, consumer staples shares fell by 0.4%.
Top Headline
Shares of Spirit Airlines, Inc. (NYSE:SAVE) fell sharply during Monday’s session after reporting first-quarter results.
Spirit Airlines reported a first-quarter fiscal 2024 revenue decline of 6.2% Y/Y to $1.265 billion, marginally missing the consensus of $1.269 billion. Adjusted EPS loss was $(1.46), down from $(0.82), missing the consensus of $(1.45).
Equities Trading UP
- Perficient, Inc. (NASDAQ:PRFT) shares shot up 53% to $73.38 after the company disclosed an acquisition deal and first-quarter FY24 results.
- Shares of Strong Global Entertainment, Inc. (NYSE:SGE) got a boost, surging 120% to $2.51 after FG Acquisition Corp. announced the proposed acquisition of Strong/MDI Screen Systems and the launch of Saltire Holdings.
- XBP Europe Holdings, Inc. (NASDAQ:XBP) shares were also up, gaining 55% to $3.2680. XBP Europe Holdings was recently awarded a $40 million multi-year contract for a nationwide transformation project for His Majesty’s Passport Office.
- Lyra Therapeutics, Inc (NASDAQ:LYRA) shares dropped 87% to $3.2680 after the company announced the ENLIGHTEN 1 trial did not meet its primary endpoint.
- Shares of GlycoMimetics, Inc (NASDAQ:GLYC) were down 82% to $0.3330 after the company announced topline results from its Phase 3 global pivotal study of uproleselan in relapsed/refractory acute myeloid leukemia (R/R AML).
- EyePoint Pharmaceuticals, Inc (NASDAQ:EYPT) was down, falling 42% to $11.38 after the company’s Phase 2 PAVIA trial of DURAVYU did not meet its pre-specified primary endpoint.
Commodities
In commodity news, oil traded up 0.6% to $78.56 while gold traded up 1.1% at $2,333.60.
Silver traded up 3.6% to $27.66 on Monday, while copper rose 1.1% to $4.6085.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.53%, Germany's DAX rose 0.96% and France's CAC 40 gained 0.49%. Spain's IBEX 35 Index rose 0.58%, while London's FTSE 100 rose 0.51%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei falling 0.1%, Hong Kong's Hang Seng Index jumping 0.55% and India's S&P BSE Sensex rising 0.02%.
Economics
No major economic reports will be released today.
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