U.S. stocks extended losses toward the end of trading, with the Dow Jones dropping more than 500 points on Friday.
The Dow traded down 1.73% to 30,713.57 while the NASDAQ fell 2.75% to 11,075.25. The S&P also fell, dropping, 2.04% to 3,821.17.
Also check this: Executives Buy Around $1.6M Of 4 Penny Stocks
Leading and Lagging Sectors
Real estate shares rose by 0.3% on Friday. Meanwhile, top gainers in the sector included Altisource Portfolio Solutions S.A. ASPS, up 8% and American Tower Corporation AMT up 4%.
In trading on Friday, consumer discretionary shares dipped 3.4%.
Deere & Company DE reported better-than-expected results for its second quarter and raised its guidance.
Deere posted quarterly earnings of $6.81 per share, beating analysts’ estimates of $6.71 per share. The company’s quarterly sales came in at $13.37 billion, versus expectations of $13.20 billion.
Deere raised its FY22 earnings guidance from $6.7 billion-$7.1 billion to $7 billion-$7.4 billion.
Equities Trading UP
TherapeuticsMD, Inc. TXMD shares shot up 19% to $2.6996 after the company announced that it has received FDA approval of its supplemental New Drug Application for ANNOVERA.
Shares of Deckers Outdoor Corporation DECK got a boost, shooting 11% to $251.45 after the company reported better-than-expected Q4 EPS and sales results and issued guidance.
SIGA Technologies, Inc. SIGA shares were also up, gaining 30% to $11.22. SIGA Technologies shares jumped 17% on Thursday after the company announced the FDA approved the intravenous formulation of TPOXX for the treatment of smallpox.
Equities Trading DOWN
Evofem Biosciences, Inc. EVFM shares tumbled 61% to $0.4249 after reporting pricing of approximately $26.6 million public offering.
Shares of Ross Stores, Inc. ROST were down 24% to $70.53 after the company reported worse-than-expected Q1 EPS and sales results. The company also issued Q2 EPS guidance below analyst estimates.
Deere & Company DE was down, falling 15% to $311.47 after the company reported Q2 financial results.
In commodity news, oil traded up 1.6% to $113.98, while gold traded up 0.1% to $1,841.90.
Silver traded down 0.9% to $21.705 on Friday while copper fell 0.1% to $4.2815.
European shares were higher today. The eurozone’s STOXX 600 gained 0.73%, London’s FTSE 100 jumped 1.19% and Spain’s IBEX 35 Index rose 0.93%. The German DAX climbed 0.72%, French CAC 40 rose 0.20% and Italy’s FTSE MIB Index jumped 0.12%.
Construction output in Italy climbed 19.4% year-over-year in March following a revised 22.1% surge in the prior month. Annual producer inflation in Germany accelerated to 33.5% in April from 30.9% in March. Retail sales in the UK climbed 1.4% month-over-month in April.
The total number of active U.S. oil rigs rose by 13 to 576 rigs this week, Baker Hughes Inc reported.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 84,799,040 cases with around 1,028,330 deaths. India confirmed a total of at least 43,131,820 cases and 524,320 deaths, while Brazil reported over 30,752,220 COVID-19 cases with 665,490 deaths. In total, there were at least 526,027,940 cases of COVID-19 worldwide with more than 6,297,330 deaths.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.