Crude Oil Moves Lower; Photronics Shares Surge After Q4 Results
Avi Kapoor 10 months ago
EarningsEquitiesNewsEurozoneCommoditiesIntraday UpdateMarketsTrading Ideas
U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining more than 200 points on Wednesday.
The Dow traded up 0.50% to 47,799.21 while the NASDAQ fell 0.18% to 23,533.49. The S&P 500 also rose, gaining, 0.11% to 6,849.05.
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Leading and Lagging Sectors
Industrials shares jumped by 0.8% on Wednesday.
In trading on Wednesday, information technology stocks fell by 0.6%.
Top Headline
U.S. crude oil inventories declined by 1.812 million barrels in the week ended Dec. 5, compared to a 0.574 million barrel gain in the previous week and versus market estimates of a 2.3 million barrel decline.
Equities Trading UP
- Photronics Inc (NASDAQ:PLAB) shares shot up 35% to $34.66 after the company reported better-than-expected fourth-quarter results and issued first-quarter guidance above analyst estimates.
- Shares of Braze Inc (NASDAQ:BRZE) got a boost, surging 16% to $35.42 after the company raised its FY2026 adjusted EPS and sales guidance following better-than-expected third-quarter revenue.
- Enveric Biosciences, Inc. (NASDAQ:ENVB) shares were also up, gaining 78% to $10.56. The Massachusetts-based biotech company received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application related to its EVM301 Series molecules, which are being developed as potential treatments for mental health disorders.
Equities Trading DOWN
- AeroVironment, Inc. (NASDAQ:AVAV) shares dropped 10% to $252.56 after the company reported mixed earnings and issued mixed guidance.
- Shares of Mama’s Creations Inc (NASDAQ:MAMA) were down 9% to $13.03, Mama’s Creations recently reported upbeat third-quarter financial results.
- Pomdoctor Limited (NASDAQ:POM) was down, falling 73% to $1.4799.
Commodities
In commodity news, oil traded down 0.8% to $57.78 while gold traded down 0.3% at $4,225.70.
Silver traded up 0.5% to $61.150 on Wednesday, while copper rose 0.7% to $5.3550.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.05%, while Spain's IBEX 35 Index rose 0.12%. London's FTSE 100 rose 0.23%, Germany's DAX 40 fell 0.17% and France's CAC 40 fell 0.45% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei falling 0.10%, Hong Kong's Hang Seng gaining 0.42%, China's Shanghai Composite declining 0.23% and India's BSE Sensex declining 0.32%.
Economics
- U.S. compensation costs for civilian workers rose 0.8% in the third quarter, compared to a 0.9% gain in the previous period.
- The volume of mortgage applications increased 4.8% in the first week of December versus the previous week.
- U.S. crude oil inventories declined by 1.812 million barrels in the week ended Dec. 5, compared to a 0.574 million barrel gain in the previous week and versus market estimates of a 2.3 million barrel decline.
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