Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded mostly lower midway through trading, with the Nasdaq Composite falling more than 50 points on Tuesday.
The Dow traded up 0.02% to 38,339.56 while the NASDAQ fell 0.39% to 15,566.76. The S&P 500 also fell, dropping, 0.08% to 4,923.94.
Check This Out: How To Earn $500 A Month From Starbucks Stock Ahead Of Q1 Earnings
Leading and Lagging Sectors
Financials shares rose by 0.7% on Tuesday.
In trading on Tuesday, real estate shares fell by 0.6%.
Top Headline
Shares of JetBlue Airways Corp (NASDAQ: JBLU) fell more than 5% on Tuesday after the company reported fourth-quarter FY23 results.
Operating revenue declined by 3.7% year-on-year to $2.33 billion, beating the consensus estimate of $2.29 billion. Adjusted loss per share was 19 cents, surpassing the consensus of 28 cents.
JetBlue expects revenue to decline (9.0%)-(5.0%) Y/Y in the first quarter of fiscal 2024. It sees ASMs decreasing by (6.0%) – (3.0%) and CASM ex-fuel increasing by 9.0% – 11.0%, and an estimated Fuel Price per Gallon to be $2.87 – $3.02 for the quarter.
Equities Trading UP
Pixelworks, Inc. (NASDAQ: PXLW) shares shot up 44% to $2.1350 after the company entered into a multi-year agreement with Walt Disney Studios.
Shares of Agrify Corporation (NASDAQ: AGFY) got a boost, surging 52% to $0.7702 after a 13D filing showed I-Tseng Jenny Chan reported a 49.99% stake in the company.
Sanmina Corporation (NASDAQ: SANM) shares were also up, gaining 30% to $66.00 after the company reported better-than-expected first-quarter financial results and issued second-quarter guidance above estimates.
Equities Trading DOWN
Sidus Space, Inc. (NASDAQ: SIDU) shares dropped 43% to $4.95 after the company announced the pricing of its public offering of 1,251,700 Class A shares at $4.50 per share.
Shares of 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP) were down 39% to $0.3161 after the company announced pricing of a $2.4 million public offering.
Calix, Inc. (NYSE: CALX) was down, falling 27% to $32.48 after the company issued first-quarter adjusted EPS and revenue guidance below estimates.
Also Check This Out: Jim Cramer Says This Is A 'Very, Very Expensive' Stock: 'I Say Ka-Ching Ka-Ching On Some Of That One'
Commodities
In commodity news, oil traded up 1% to $77.54 while gold traded up 1.3% at $2,051.00.
Silver traded down 0.4% to $23.17 on Tuesday while copper rose 0.1% to $3.8815.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.11%, London’s FTSE 100 rose 0.48% while Spain’s IBEX 35 Index rose 1.45% The German DAX rose 0.15% French CAC 40 gained 0.49% while Italy’s FTSE MIB Index climbed 1.24%.
The Euro Area economy stalled in the final three months of 2023, compated to a 0.1% contraction in the prior period. The economic sentiment indicator in the Eurozone fell to 96.2 in January compared to December's reading of 96.4.
Italy’s gross domestic product rose by 0.2% quarter-over-quarter during the last three months of 2023, while German economy shrank by 0.3% in the fourth quarter. Spanish gross domestic product increased by 0.6% in the same period, while annual consumer price inflation in Spain increased to 3.4% in January. The French economy stalled in the fourth quarter.
Asia Pacific Markets
Asian markets closed mostly lower on Tuesday, with Japan’s Nikkei 225 gaining 0.11%, Hong Kong’s Hang Seng Index falling 2.32% and China’s Shanghai Composite Index dipping 1.83%. India’s S&P BSE Sensex, meanwhile, fell 1.11%.
Japanese unemployment rate declined to 2.4% in December compared to 2.5% in the earlier two months.
Economics
The S&P CoreLogic Case-Shiller home price index climbed 5.4% year-over-year in November versus a 4.9% rise in October.
The FHFA house price index rose by 0.3% from the prior month in November.
The number of job openings climbed by 101,000 from the prior month to 9.026 million in December.
The Dallas Fed general business activity index for Texas' service sector fell to a reading of -9.3 in January versus December's reading of -8.8.
Now Read This: Meta To Rally Around 16%? Here Are 10 Top Analyst Forecasts For Tuesday
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.