Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Dow Surges Over 150 Points; AerCap Posts Upbeat Earnings

Published 23/02/2024, 15:25
Updated 23/02/2024, 16:40
© Reuters.  Dow Surges Over 150 Points; AerCap Posts Upbeat Earnings

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded higher this morning, with the Dow Jones index jumping more than 150 points on Friday.

Following the market opening Friday, the Dow traded up 0.46% to 39,249.71 while the NASDAQ rose 0.20% to 16,073.78. The S&P 500 also rose, gaining, 0.41% to 5,107.74.

Also Check This Out: Jim Cramer: Unity Software 'Had Problems,' But Zscaler Is A 'Good One' To Buy

Leading and Lagging Sectors

Utilities shares rose by 1.1% on Friday.

In trading on Friday, energy shares fell by 1.1%.

Top Headline

AerCap Holdings N.V. (NYSE: AER) reported upbeat earnings for its fourth quarter on Friday.

Total revenues and other income rose 4% to $1.899 billion, missing the consensus of $1.926 billion. Adjusted EPS of $3.11 beat the analyst consensus of $2.45.

Equities Trading UP

AXT, Inc. (NASDAQ: AXTI) shares shot up 79% to $4.0690 after the company reported better-than-expected fourth-quarter financial results.

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) got a boost, surging 56% to $7.97 after the company reported better-than-expected fourth-quarter financial results.

Monopar Therapeutics Inc. (NASDAQ: MNPR) shares were also up, gaining 52% to $1.70 after the company announced preclinical data for its MNPR-101 radiopharma program targeting advanced cancers.

Equities Trading DOWN

Sequans Communications S.A. (NYSE: SQNS) shares dropped 73% to $0.6995 after Renesas announced that it has terminated the previously announced MOU for a proposed acquisition of Sequans.

Shares of Charge Enterprises, Inc. (NASDAQ: CRGE) were down 41% to $0.0430. Charge Enterprises announced decision of Nasdaq Hearings Panel to delist common shares.

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

Upland Software, Inc. (NASDAQ: UPLD) was down, falling 39% to $2.67 after the company reported downbeat quarterly earnings.

Commodities

In commodity news, oil traded down 2.1% to $76.94 while gold traded up 0.3% at $2,036.30.

Silver traded down 0.5% to $22.68 on Friday while copper fell 1.1% to $3.8560.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 climbed 0.5%, London’s FTSE 100 rose 0.3% while Spain’s IBEX 35 Index fell 0.1% The German DAX gained 0.4% French CAC 40 rose 0.8% while Italy’s FTSE MIB Index rose 1%.

German economy contracted by 0.3% during the final quarter of 2023, while the Ifo Business Climate indicator for Germany edged higher to 85.5 in February from 85.2 in January. Median consumer expectations for the eurozone inflation over the next 12 months accelerated to 3.3% in January versus 3.2% in the prior month. The GfK Consumer Confidence indicator for the UK fell to -21 in February versus -19 in January.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Hong Kong’s Hang Seng Index falling 0.10%, China’s Shanghai Composite Index gaining 0.55% and India’s S&P BSE Sensex gaining 0.1%.

Chinese new home prices fell by 0.7% year-over-year for January versus a 0.4% fall a month ag.

Economics

Data on Baker Hughes rig count for the recent week will be released at 1 p.m. ET.

Now Read This: Starbucks, Regeneron Pharmaceuticals And 2 Other Stocks Insiders Are Selling

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

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

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.