Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Crude Oil Gains Over 1%; Genius Group Shares Plummet

Published 12/01/2024, 19:27
Updated 12/01/2024, 20:40
© Reuters.  Crude Oil Gains Over 1%; Genius Group Shares Plummet

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded mixed toward the end of trading, with the S&P 500 and NASDAQ Composite turning higher on Friday.

The Dow traded down 0.28% to 37,607.16 while the NASDAQ rose 0.06% to 14,978.45. The S&P 500 also rose, gaining, 0.11% to 4,785.71.

Check This Out: Lululemon To Rally Over 17%? Here Are 10 Top Analyst Forecasts For Friday

Leading and Lagging Sectors

Energy shares jumped by 1% on Friday.

In trading on Friday, consumer discretionary shares fell by 0.9%.

Top Headline

Delta Air Lines Inc (NYSE: DAL) shares fell more than 8% on Friday following the release of its fourth-quarter results.

The company reported a fourth-quarter FY23 operating revenue growth of 5.9% year-over-year to $14.22 billion and adjusted operating revenue of $13.66 billion (+11.1% Y/Y), beating the consensus of $13.52 billion. Adjusted EPS was $1.28 above the consensus of $1.17.

Delta Air said it sees EPS of $6 – $7 for the current year, versus the $6.56 estimate. In December 2022, DAL said it was on track for its 2024 earnings target of over $7 per share.

Equities Trading UP

Applied UV, Inc. (NASDAQ: AUVI) shares shot up 29% to $2.9470 after the company announced the launch of its Fighter Flex LED solution at the upcoming AHR Expo on Jan. 22.

Shares of Flexsteel Industries, Inc. (NASDAQ: FLXS) got a boost, surging 26% to $22.74 after the company reported strong preliminary results for the second quarter. The company said it sees preliminary earnings of 57 cents per share, versus analysts’ estimates of 27 cents per share. The company sees revenue of $100.1 million versus expectations of $96.77 million. Flexsteel Industries also issued financial guidance for the remainder of fiscal year 2024 and fiscal year 2025.

3rd party Ad. Not an offer or recommendation by See disclosure here or remove ads .

Wipro Limited (NYSE: WIT) shares were also up, gaining 18% to $6.35 after the company reported third-quarter financial results, issued guidance and declared an interim dividend.

Equities Trading DOWN

Genius Group Limited (NYSE: GNS) shares dropped 47% to $0.27 after the company announced pricing of an $8.25 million public offering.

Shares of VCI Global Limited (NASDAQ: VCIG) were down 28% to $1.1290 after the company announced pricing of a $2.75 million public offering.

Momentus Inc. (NASDAQ: MNTS) was down, falling 18% to $1.0191 after the company announced it was notified by the Space Development Agency that it was not selected for funding for the Tranche 2 Tracking Layer and that there is substantial doubt about the company's ability to continue as a going concern.

Also Check This Out: $30M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying


In commodity news, oil traded up 1.2% to $72.85 while gold traded up 1.4% at $2,047.30.

Silver traded up 2.4% to $23.255 on Friday while copper fell 0.9% to $3.7435.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.84%, London’s FTSE 100 rose 0.64% while Spain’s IBEX 35 Index rose 0.90% The German DAX rose 0.95% French CAC 40 rose 1.05% while Italy’s FTSE MIB Index rose 0.73%.

Spain's consumer price inflation eased to 3.1% year-over-year in December from 3.2% in the earlier month. Household spending in France increased by 0.7% from a month ago in November.

The British economy grew by 0.3% month-over-month in November compared to a 0.3% decline in the prior month. Industrial production in the UK increased 0.3% month-over-month in November versus a revised 1.3% decline in October The UK's trade deficit shrank to £1.408 billion in November from a revised gap of £3.198 billion a month ago.

3rd party Ad. Not an offer or recommendation by See disclosure here or remove ads .

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 1.50%, Hong Kong’s Hang Seng Index falling 0.35% and China’s Shanghai Composite Index falling 0.16%. India’s S&P BSE Sensex, meanwhile, rose 1.16%.

The gauge for Japan's service sector confidence rose by 1.2 points to a reading of 50.7 in December, while Japan’s current account rose to JPY 1,925.6 billion in November versus JPY 1,772.2 billion in the year-ago period.

China's trade surplus widened to $75.34 billion in December from $70.65 billion in the year-ago month. China's producer prices fell by 2.7% year-over-year in December, while consumer prices fell by 0.3% year-over-year in December.


Producer prices in the U.S. fell 0.1% month-over-month in December, the same as in the prior month, and compared to market estimates of a 0.1% rise.

The total number of active U.S. oil rigs climbed by 13 to 546 rigs this week, Baker Hughes Inc reported.

Now Read This: Top 2 Financial Stocks That Are Preparing To Pump This Quarter

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

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.