Dow Dips Over 100 Points; Dick's Sporting Goods Earnings Top Views

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 100 points on Thursday.

The Dow traded down 0.35% to 38,905.20 while the NASDAQ fell 0.13% to 16,156.28. The S&P 500 also fell, dropping, 0.25% to 5,152.46.

Check This Out: Tesla To $165? Here Are 10 Top Analyst Forecasts For Thursday


Leading and Lagging Sectors


Energy shares jumped by 0.8% on Thursday.

In trading on Thursday, real estate shares fell by 2.4%.


Top Headline


Dick’s Sporting Goods Inc DKS reported better-than-expected fourth-quarter results and issued strong guidance.

Dick’s Sporting Goods reported fourth-quarter FY23 sales growth of 7.8% year-on-year to $3.876 billion, beating the analyst consensus estimate of $3.796 billion. Adjusted EPS of $3.85 beat the analyst consensus of $3.35.

Dick’s Sporting Goods sees FY24 EPS of $12.85 – $13.25 versus the consensus of $12.90. The company expects FY24 net sales of $13 billion – $13.13 billion, against an estimate of $13.131 billion.


Equities Trading UP


Turtle Beach Corporation HEAR shares shot up 27% to $13.97 after the company announced the acquisition of PDP and its intention to launch a modified "Dutch Auction" Tender Offer. The company also reported fourth-quarter financial results.

Shares of VAALCO Energy, Inc. EGY got a boost, surging 17% to $5.20 after the company reported better-than-expected fourth-quarter financial results.

Build-A-Bear Workshop, Inc. BBW shares were also up, gaining 18% to $29.45 after the company reported better-than-expected fourth-quarter EPS but missed on revenue. Additionally, the company guided FY24 revenue growth on a low-to-mid-single-digit percentage basis.


Equities Trading DOWN


Spruce Biosciences, Inc. SPRB shares dropped 80% to $1.0205 after the company reported FY23 financial results. Also, the company announced that the CAHmedlia-203 study of Tildacerfont in adult classic congenital adrenal hyperplasia with severe hyperandrogenemia did not meet its primary efficacy endpoint.

Shares of Fisker Inc. FSR were down 53% to $0.1507 following a Wall Street Journal report suggesting the company is preparing for a possible bankruptcy filing.

Better Therapeutics, Inc. BTTX was down, falling 81% to $0.0383. Better Therapeutics announced it will seek strategic alternatives and will be delisted from the Nasdaq.

Also Check This Out: Top 3 Health Care Stocks That Are Ticking Portfolio Bombs




In commodity news, oil traded up 2.2% to $81.44 while gold traded down 0.6% at $2,167.00.

Silver traded down 0.3% to $25.07 on Thursday, while copper fell 0.4% to $4.0420.


Euro zone


European shares were mixed today. The eurozone’s STOXX 600 fell 0.18%, London’s FTSE 100 fell 0.37% while Spain’s IBEX 35 Index fell 0.66% The German DAX slipped 0.11% French CAC 40 rose 0.29% while Italy’s FTSE MIB Index gained 0.29%.

Spain’s annual inflation rate eased to 2.8% in February, the lowest in six months, compared to 3.4% in January.


Asia Pacific Markets


Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.29%, Hong Kong’s Hang Seng Index falling 0.71%, China’s Shanghai Composite Index falling 0.18% and India’s S&P BSE Sensex gaining 0.5%.

Manufacturing production in Hong Kong rose 4.1% year-over-year in the fourth quarter compared to a revised 4.3% gain in the prior period. Indian wholesale prices rose by 0.20% year-over-year in February versus a 0.27% increase in the earlier month.




The Producer Price Index for final demand in the U.S. increased by 0.6% month-over-month in February, higher than market expectations of a 0.3% rise.

U.S. retail sales increased 0.6% month-over-month in February compared to a revised 1.1% decline in January and down from market estimates of a 0.8% surge.

U.S. initial jobless claims declined by 1,000 to 209,000 in the week ended March 8, compared to market estimates of 218,000.

U.S. total business inventories came in flat month-over-month in January compared to a 0.3% increase in the previous month.

Now Read This: How To Earn $500 A Month From Pfizer Stock After A Surprise Profit-Turning Quarter

Market News and Data brought to you by Benzinga APIs
Posted In: NewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsTrading IdeasMid Afternoon Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!