Dow Edges Higher; Dell Shares Fall After Q1 Results

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index edging higher on Friday.

The Dow traded up 0.05% to 42,238.88 while the NASDAQ fell 0.74% to 19,033.46. The S&P 500 also fell, dropping, 0.24% to 5,898.22.

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Leading and Lagging Sectors

Consumer staples shares jumped by 1% on Friday.

In trading on Friday, information technology stocks fell by 1.5%.

Top Headline

Shares of Dell Technologies Inc DELL fell more than 3% on Friday after the company reported mixed financial results for the first quarter.

Dell reported first-quarter revenue of $23.38 billion, beating the consensus estimate of $23.14 billion, according to Benzinga Pro. The company reported adjusted earnings of $1.55 per share, missing analyst estimates of $1.69 per share.

Equities Trading UP
           

• Universal Corporation UVV shares shot up 11% to $65.96 following quarterly results.
• Shares of Ulta Beauty, Inc. ULTA got a boost, surging 11% to $470.18 after the company reported better-than-expected first-quarter financial results and raised guidance.
• BioLineRx Ltd. BLRX shares were also up, gaining 34% to $5.20 after the company said updated results from the pilot phase of its CheMo4METPANC Phase 2 combination trial in pancreatic cancer indicated four of eleven patients remained progression free after more than one year.

Equities Trading DOWN

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• Summit Therapeutics Inc. SMMT shares dropped 30% to $18.33. The company announced topline results from its Phase 3 HARMONi trial.
• Shares of Newsmax, Inc. NMAX were down 19% to $18.08 after the company announced it filed for the resale of up to 121 million shares of class B stock.
• CollPlant Biotechnologies Ltd. CLGN was down, falling 33% to $3.0450. CollPlant Biotechnologies announced a $3.6 million registered direct offering priced at-the-market under Nasdaq rules.

Commodities

In commodity news, oil traded down 0.6% to $60.58 while gold traded down 0.8% at $3,315.80.

Silver traded down 1.2% to $33.030 on Friday, while copper rose 0.1% to $4.6790.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.14%, while Spain's IBEX 35 Index rose 0.25%. London's FTSE 100 rose 0.64%, Germany's DAX 40 rose 0.27% and France's CAC 40 fell 0.36% during the session.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei falling 1.22%, Hong Kong's Hang Seng Index dipping 1.20%, China's Shanghai Composite Index falling 0.47% and India's BSE Sensex declining 0.22%.

Economics

• The University of Michigan consumer sentiment was revised higher to 52.2 in May versus a preliminary reading of 50.8.
• The Chicago PMI declined to 40.5 in May versus 44.6 in the previous month.

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