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U.S. stocks traded mixed this morning, with the Dow dropping around 100 points on Monday.
Following the market opening Monday, the Dow traded down 0.29% to 34,761.39 while the NASDAQ rose 0.35% to 14,218.85. The S&P also rose, gaining, 0.05% to 4,545.49.
Also check this: Alphabet And 3 Other Stocks Sold By Insiders
Leading and Lagging Sectors
Consumer discretionary shares jumped by 2% on Monday. Meanwhile, top gainers in the sector included Kaixin Auto Holdings (NASDAQ:KXIN), up 31% and Sonos, Inc. (NASDAQ:SONO) up 13%.
In trading on Monday, energy shares fell 2.5%.
Top Headline
Science Applications International Corp (NYSE:SAIC) reported better-than-expected earnings for its fourth quarter.
SAIC reported fourth-quarter FY22 revenue growth of 4% year-over-year to $1.78 billion and +1.4% organic, beating the consensus of $1.77 billion. Adjusted EPS of $1.50 beat the consensus of $1.23.
SAIC sees revenue of $7.35 billion-$7.55 billion, lower than the consensus of $7.61 billion.
It expects an Adjusted EPS of $6.80 -$7.10 versus the consensus of $6.84.
Equities Trading UP
Plantronics, Inc. (NYSE:POLY) shares shot up 50% to $39.29 after HP announced it will acquire the company.
Shares of Immunome, Inc. (NASDAQ:IMNM) got a boost, shooting 16% to $5.57 after the company reported results for its fourth quarter.
B.O.S. Better Online Solutions Ltd. (NASDAQ:BOSC) shares were also up, gaining 31% to $3.41 as the company said its supply chain division has received an order in the amount of $2.4 million for delivery this year.
Equities Trading DOWN
Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) shares tumbled 43% to $14.27 following circulation of FDA briefing docs ahead of FDA meeting on the company’s peripheral, central nervous system drugs panel.
Shares of NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) were down 42% to $1.2901. Craig-Hallum downgraded NeuroOne Medical Tech from Buy to Hold.
Clever Leaves Holdings Inc. (NASDAQ:CLVR) was down, falling 31% to $2.6450. Cowen & Co. maintained Clever Leaves Holdings with a Market Perform and lowered the price target from $6 to $4.
Also check out: Executives Buy More Than $12M Of 3 Stocks
Commodities
In commodity news, oil traded down 5.1% to $108.13, while gold traded down 0.6% to $1,942.90.
Silver traded down 1.2% Monday to $25.30 while copper fell 0.2% to $4.6890.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.7%, London’s FTSE 100 gained 0.4%, while Spain’s IBEX 35 Index rose 1.3%. The German DAX gained 1.4%, French CAC 40 climbed 1.3% and Italy’s FTSE MIB Index rose 1.4%.
Economics
The US goods trade deficit shrank to $106.59 billion in February from a revised all-time high of $107.57 billion in the prior month.
Wholesale inventories increased 2.1% month-over-month to $814.8 billion in February.
The Dallas Fed manufacturing index for March will be released at 10:30 a.m. ET.
The Treasury is set to auction 6-month bills and 2-year notes at 11:30 a.m. ET.
The Treasury will auction 3-month bills and 5-year notes at 1:00 p.m. ET.
Check out this: Executives Sell About $30M Of 3 Stocks
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,621,880 cases with around 1,003,460 deaths. India confirmed a total of at least 43,020,720 cases and 521,060 deaths, while Brazil reported over 29,842,410 COVID-19 cases with 658,920 deaths. In total, there were at least 482,187,020 cases of COVID-19 worldwide with more than 6,148,510 deaths.
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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