S&P 500 Edges Higher; Analog Devices Earnings Top Views

U.S. stocks traded mixed midway through trading, with the S&P 500 and Nasdaq Composite edging higher on Wednesday.

The Dow traded down 0.39% to 44,382.16 while the NASDAQ rose 0.04% to 20,049.09. The S&P 500 also rose, gaining, 0.03% to 6,131.45.

Check This Out: Top 3 Risk Off Stocks Which Could Rescue Your Portfolio This Quarter

Leading and Lagging Sectors

Health care shares jumped by 0.7% on Wednesday.

In trading on Wednesday, materials shares fell by 1.4%.

Top Headline

Analog Devices, Inc ADI reported better-than-expected fiscal first-quarter results on Wednesday.

The company's revenue declined 4% year-on-year to $2.42 billion, beating the analyst consensus estimate of $2.36 billion. Adjusted EPS of $1.63 beat the analyst consensus estimate of $1.54.

Equities Trading UP

SolarEdge Technologies, Inc. SEDG shares shot up 25% to $21.15 after the company reported better-than-expected fourth-quarter sales results and issued first-quarter revenue guidance with its midpoint above estimates.
Shares of Compass, Inc. COMPgot a boost, surging 24% to $9.92 after the company reported better-than-expected fourth-quarter revenue results and issued first-quarter revenue guidance above estimates
Sintx Technologies, Inc. SINT shares were also up, gaining 58% to $4.45 after the company announced the Issuance of U.S. patent No. 12,239,761 by the United States Patent and trademark office.

Equities Trading DOWN

Today's Best Finance Deals

Nikola Corporation NKLA shares dropped 41% to $0.4538 after the company announced comprehensive voluntary chapter 11 sale process.
Shares of Allurion Technologies Inc ALUR were down 32% to $3.79. Allurion announced plans to raise $6.1 million in offering and concurrent private placement of 900,000 at 5.23/share.
CNS Pharmaceuticals, Inc CNSP was down, falling 35% to $0.0931 after the company announced a 1-for-50 reverse stock split.

Commodities

In commodity news, oil traded up 0.6% to $72.31 while gold traded down 0.4% at $2,937.10.

Silver traded down 0.9% to $33.065 on Wednesday, while copper fell 0.7% to $4.5580.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.91%, Germany's DAX 40 fell 1.80% and France's CAC 40 declined 1.17%. Spain's IBEX 35 Index fell 1.63%, while London's FTSE 100 fell 0.62%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 falling 0.27%, China's Shanghai Composite Index falling 0.93%, Hong Kong's Hang Seng Index falling 0.14% and India's BSE Sensex falling 0.04%.

Economics

U.S. housing starts fell 9.8% month-over-month to an annualized rate of 1.366 million in January compared to December’s reading of 1.515 million.
Building permits rose by 0.1% to an annualized rate of 1.483 million in January.

Now Read This: