Crude Oil Down 1%; Performance Food Group Earnings Top Views
Avi Kapoor 1 year ago
EarningsEquitiesNewsEurozoneCommoditiesIntraday UpdateMarketsTrading Ideas
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 400 points on Wednesday.
The Dow traded up 0.97% to 44,888.04 while the NASDAQ rose 0.14% to 21,711.19. The S&P 500 also rose, gaining, 0.24% to 6,461.26.
Check This Out: Top 2 Tech & Telecom Stocks That May Fall Off A Cliff In Q3
Leading and Lagging Sectors
Health care shares jumped by 1 % on Wednesday.
In trading on Wednesday, utilities stocks fell by 0.7%.
Top Headline
Performance Food Group Company (NYSE:PFGC) reported better-than-expected fourth-quarter adjusted EPS and sales.
The company reported fourth-quarter adjusted earnings per share of $1.55, beating the analyst consensus estimate of $1.45. Quarterly sales of $16.938 billion outpaced the Street view of $16.860 billion (+11.5% year over year).
Equities Trading UP
- Bolt Projects Holdings, Inc. (NASDAQ:BSLK) shares shot up 147% to $5.38 after the company reported a year-over-year increase in second-quarter financial results.
- Shares of Sapiens International Corporation N.V. (NASDAQ:SPNS) got a boost, surging 44% to $42.54 after Advent agreed to acquire the company in a $2.5 billion deal.
- WEBTOON Entertainment Inc. (NASDAQ:WBTN) shares were also up, gaining 80% to $16.88 after the company announced a partnership with Disney to bring titles featuring characters from Marvel, Star Wars, Disney Studios and 20th Century Studios to its platform.
Equities Trading DOWN
- Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares dropped 22% to $9.15 following second-quarter results.
- Shares of KinderCare Learning Companies, Inc. (NASDAQ:KLC) were down 16% to $8.20 after the company missed second-quarter earnings estimates and narrowed 2025 guidance.
- ProFrac Holding Corp. (NASDAQ:ACDC) was down, falling 39% to $3.8550 after the company priced a $75 million stock offering at $4 per share.
Commodities
In commodity news, oil traded down 1% to $62.57 while gold traded up 0.4% at $3,412.90.
Silver traded up 1.4% to $38.545 on Wednesday, while copper fell 0.3% to $4.5115.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.52%, while Spain's IBEX 35 Index rose 0.95%. London's FTSE 100 rose 0.15%, Germany's DAX 40 gained 0.74% and France's CAC 40 rose 0.73% during the session.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 1.30%, Hong Kong's Hang Seng gaining 2.58%, China's Shanghai Composite gaining 0.48% and India's BSE Sensex gaining 0.38%.
Economics
- The volume of mortgage applications in jumped by 10.9% from the previous week during the first week of August.
- U.S. crude oil inventories climbed by 3.037 million barrels in the week ended Aug. 8, compared to market expectations of a 0.8 million decline.
Now Read This:
Photo via Shutterstock