Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

US Stocks Mixed; Target Posts Downbeat Earnings

Published 22/05/2024, 14:55
© Reuters.  US Stocks Mixed; Target Posts Downbeat Earnings

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded mixed this morning, with the Dow Jones index falling around 20 points on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.05% to 39,853.86 while the NASDAQ rose 0.04% to 16,839.94. The S&P 500 also fell, dropping, 0.03% to 5,319.84.

Check This Out: Top 5 Industrials Stocks That May Explode This Quarter

Leading and Lagging Sectors

Industrials shares rose by 0.2% on Wednesday.

In trading on Wednesday, energy shares fell by 0.9%.

Top Headline

Target Corp (NYSE:TGT) reported weaker-than-expected first-quarter earnings.

The company reported a first-quarter FY24 sales decline of 3.1% year-on-year to $24.531 billion, beating the analyst consensus estimate of $24.521 billion. Comparable sales declined 3.7% in the first quarter. Adjusted EPS of $2.03 missed the analyst consensus estimate of $2.06.

Equities Trading UP

  • Akoustis Technologies, Inc. (NASDAQ:AKTS) shares shot up 222% to $0.4474 after the company reportedly floated the probability of bankruptcy after losing a lawsuit against Qorvo.
  • Shares of Barnes & Noble Education, Inc. (NYSE:BNED) got a boost, surging 104% to $1.10 on continued volatility. Greenhaven last week said it continues to explore a possible transaction with the company.
  • BuzzFeed, Inc. (NASDAQ:BZFD) shares were also up, gaining 67% to $4.15 after Vivek Ramaswamy disclosed a 7.7% stake in the company.
Equities Trading DOWN

  • Edible Garden AG Incorporated (NASDAQ:EDBL) shares dropped 56% to $1.91 after the company announced the pricing of a $6 million public offering.
  • Shares of Biodexa Pharmaceuticals Plc (NASDAQ:BDRX) were down 34% to $1.53 after the company announced $7 million of gross proceeds from warrant exercises.
  • Yatsen Holding Limited (NYSE:YSG) was down, falling 23% to $3.50 after the company announced downbeat quarterly results.
Also Check This Out: Qualcomm, American Express And 2 Other Stocks Insiders Are Selling


In commodity news, oil traded down 0.8% to $78.03 while gold traded down 0.5% at $2,413.50.

Silver traded down 0.2% to $32.025 on Wednesday, while copper fell 3.5% to $4.93.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX fell 0.2% and France's CAC 40 dipped 0.6%. Spain's IBEX 35 Index fell 0.1%, while London's FTSE 100 fell 0.6%.

The annual inflation rate in the UK fell to 2.3% in April from 3.2% in March, while producer prices rose 1.1% year-over-year in April.

Passenger car registrations in the European Union jumped 13.7% year-over-year to 914 thousand units in April.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei falling 0.85%, China's Composite Index gaining 0.02%, Hong Kong's Hang Seng Index falling 0.13% and India's S&P BSE Sensex gaining 0.2%.

Japanese trade deficit rose to JPY 462,50 billion in April compared to a year-ago gap of JPY 429,79 billion. Japan’s core machinery orders climbed 2.9% month-over-month to 913 billion yen in March.


U.S. mortgage applications rose by 1.9% from the prior week in the period ending May 17, compared to a 0.5% gain in the prior week.

Now Read This: Jim Cramer: This Industrial Stock Is Doing ‘Very Well’; Here’s His Take On Palantir

© 2024 Benzinga.com. 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.