Following the market opening Tuesday, the Dow traded down 0.12% to 28668.81 while the NASDAQ rose 0.14% to 9083.89. The S&P also fell, dropping 0.09% to 3243.29.
Leading and Lagging Sectors
Materials shares climbed 0.4% on Tuesday. Meanwhile, top gainers in the sector included Marrone Bio Innovations, Inc. MBII, up 15%, and Turquoise Hill Resources Ltd. TRQ, up 5%.
In trading on Tuesday, real estate shares fell 1.3%.
Top Headline
Pier 1 Imports PIR announced concerning Q3 results and a cost-reduction initiative which, among other things, will cut its store count by about 450 locations.
The retailer posted a quarterly net loss of $60 million, or $14.15 a share, versus a year-ago net loss of $50.4 million, or $12.49 per share.
Equities Trading UP
Cellect Biotechnology Ltd. APOP shares shot up 101% to $4.8203 after the company announced it has received 'intention to grant' patents from European and Israeli patent offices.
Shares of Apache Corporation APA got a boost, shooting up 23% to $31.57 after the company, along with Total SA announced a significant oil discovery at the Maka Central-1 well drilled offshore Suriname.
Apellis Pharmaceuticals, Inc. APLS shares were also up, gaining 23% to $37.01 after the company announced that its Pegcetacoplan met its primary endpoint in the PEGASUS study.
Equities Trading DOWN
Pier 1 Imports, Inc. PIR shares tumbled 19% to $4.1792 after the company announced concerning Q3 results and a cost-reduction initiative which, among other things, will cut its store count by about 450 locations.
Shares of CTI Industries Corporation CTIB were down 17% to $2.16 after the company has executed a non-binding letter of intent to divest its subsidiary in Guadalajara, Mexico for approximately $4 million.
Cassava Sciences, Inc. SAVA was down, falling 17% to $7.18.
Commodities
In commodity news, oil traded down 0.9% to $62.73, while gold traded down 0.1% to $1,568.70.
Silver traded up 0.2% Tuesday to $18.215, while copper fell 0.1% to $2.7895.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.2%, the Spanish Ibex Index fell 0.1%, while Italy’s FTSE MIB Index gained 0.5%. Meanwhile, the German DAX gained 0.6%, and the French CAC 40 rose 0.1% while UK shares rose 0.1%.
Economics
The US trade deficit shrank to $43.1 billion in November, versus a revised $46.9 billion gap in the prior month.
U.S. factory orders fell 0.7% in November, versus market expectations of a 0.8% drop.
The ISM non-manufacturing PMI rose to 55 in December, versus 53.9 in November.
The Treasury is set to auction 3-year notes at 1:00 p.m. ET.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.