Nasdaq Surges 100 Points; Wix.com Shares Jump Following Q1 Results

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Monday.

The Dow traded up 0.04% to 40,020.16 while the NASDAQ rose 0.64% to 16,792.13. The S&P 500 also rose, gaining, 0.32% to 5,320.47.

Check This Out: Top 3 Financial Stocks That Are Set To Fly This Quarter

Leading and Lagging Sectors

Information technology shares rose by 1.1% on Monday.

In trading on Monday, consumer discretionary shares fell by 0.3%.

Top Headline

Shares of Wix.com Ltd WIX jumped around 24% on Monday after the company reported its fiscal first-quarter 2024 results.

Revenue grew 12% Y/Y to $419.8 million, beating the analyst consensus estimate of $417.8 million. Adjusted EPS of $1.29 beat the analyst consensus estimate of $1.03. The stock gained after the results.

Equities Trading UP
                       

  • NKGen Biotech, Inc. NKGN shares shot up 55% to $1.7340 after the company’s SNK01 NK Cell Therapy was cleared to begin a Phase 2 trial in Alzheimer’s disease.
  • Shares of Rekor Systems, Inc. REKR got a boost, surging 24% to $1.64 after the company announced a partnership with MS2.
  • MultiMetaVerse Holdings Limited MMV shares were also up, gaining 130% to $1.4350. MultiMetaVerse Holdings signed a non-binding term sheet to acquire 100% of Bowong Technology (Shenzhen) Co., Ltd. and its subsidiaries.

Equities Trading DOWN

  • Virios Therapeutics, Inc. VIRI shares dropped 46% to $0.19 after the company priced a $1.7 million public offering of 8.5 million shares of common stock at $0.20 per share.
  • Shares of Akoustis Technologies, Inc. AKTS were down 51% to $0.1732 after Qorvo won a jury verdict against the company in a trade secret misappropriation and patent infringement case.
  • Jaguar Health, Inc JAGX was down, falling 36% to $0.1660 after the company announced a 1-for-60 reverse stock split.

Also Check This Out: This Analyst With 85% Accuracy Rate Sees Around 8% Upside In NVIDIA – Here Are 5 Stock Picks For Last Week From Wall Street’s Most Accurate Analysts

Commodities

In commodity news, oil traded down 0.4% to $79.72 while gold traded up 0.4% at $2,426.30.

Silver traded up 2.9% to $32.15 on Monday, while copper rose 0.1% to $5.0545.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.18%, Germany's DAX rose 0.35% and France's CAC 40 climbed 0.35%. Spain's IBEX 35 Index rose 0.10%, while London's FTSE 100 rose 0.05%.

Spain’s consumer confidence indicator climbed to 84.5 in April compared to 82.5 in March. The construction output in Italy rose by 3.8% year-over-year in March.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei gaining 0.73%, China's Composite Index climbing 0.54%, Hong Kong's Hang Seng Index gaining 0.42% and India's S&P BSE Sensex gaining 0.46%.

Hong Kong's unemployment rate came in unchanged at 3% in the three months ending April 2024. Malaysia’s trade surplus shrank to MYR 7.7 billion in April from MYR 12.6 billion in the year-ago month. The People’s Bank of China held key lending rates at the recent fixing.

Economics

No major economic reports will be released today.

Now Read This: Insiders Buying Sempra And 2 Other Stocks

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Mid-Day Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!