Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Midway through trading Tuesday, the Dow traded down 1.39 percent to 26,070.65 while the NASDAQ declined 1.44 percent to 8,006.18. The S&P also fell, dropping 1.29 percent to 2,894.60.
Leading and Lagging Sectors
On Tuesday, the utilities shares slipped by just 0.3 percent. Meanwhile, top gainers in the sector included Ormat Technologies, Inc. (NYSE:ORA) up 3 percent, and Spark Energy Inc (NASDAQ:SPKE) up 3 percent.
In trading on Tuesday, industrial shares fell 1.9 percent.
Top Headline
TransDigm Group Incorporated (NYSE:TDG) reported better-than-expected earnings for its second quarter and raised its FY19 guidance.
Earnings came in at $4.21 per share, beating estimates of $3.80 per share. Sales came in at $1.196 billion, beating estimates of $1.13 billion.
Transdigm Group raised its FY2019 EPS guidance from $16.42-17.1 to $16.47-17.15. The company also raised its FY2019 sales guidance from $4.145 billion-4.235 billion to $5.395 billion-5.485 billion.
Equities Trading UP
Bridgeline Digital Inc (NASDAQ:BLIN) shares got a boost, shooting up 25 percent to $7.71 after the company announced a multi-year license renewal agreement with a global biopharmaceutical company to power its mission-critical websites.
Shares of Solaredge Technologies Inc (NASDAQ:SEDG) shot up 22 percent to $53.67 after the company reported higher-than-expected Q1 EPS and sales results. The company also issued Q2 sales guidance.
Cohu, Inc. (NASDAQ:COHU) shares were also up, gaining 28 percent to $19.73 after the company reported better-than-expected Q1 sales and the stock was upgraded by Stifel Nicolaus from Hold to Buy.
Equities Trading DOWN
Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) shares dropped 40 percent to $3.68 after the FDA approved the company's competitor to its Firdapse drug.
Shares of Intersect ENT Inc (NASDAQ:XENT) were down 23 percent to $25.57 after SVB Leerink downgraded the stock from Outperform to Market Perform and lowered the price target from $41 to $29 following the company report of worse-than-expected Q1 EPS. The company also cut FY19 sales guidance.
Nautilus, Inc. (NYSE:NLS) was down, falling around 18 percent to $4.3475 after the company reported worse-than-expected Q1 EPS and sales results.
Commodities
In commodity news, oil traded down 1.2 percent to $61.48 while gold traded up 0.1 percent to $1,285.40.
Silver traded down 0.1 percent Tuesday to $14.915, while copper fell 1.2 percent to $2.795.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 fell 1.37 percent, the Spanish Ibex Index fell 1.03 percent, while Italy’s FTSE MIB Index dropped 0.89 percent. Meanwhile the German DAX dropped 1.58 percent, and the French CAC 40 declined 1.6 percent while U.K. shares fell 1.63 percent.
Economics
The Johnson Redbook Retail Sales Index rose 1.3 percent during the first four weeks of April versus March.
U.S. job openings rose to 7.5 million in March, versus prior reading of 7.1 million, according to the Labor Department's JOLTS report.
The Treasury is set to auction 3-year notes bills at 1:00 p.m. ET.
Data on consumer credit for March will be released at 3:00 p.m. ET.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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