US Stocks Mostly Higher; Synchrony Financial Earnings Top Views

U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining around 90 points on Monday.

Following the market opening Monday, the Dow traded up 0.11% to 33,411.62 while the NASDAQ rose 0.79% to 11,228.13. The S&P 500 also rose, gaining, 0.40% to 3,988.54.
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Leading and Lagging Sectors

  • Information technology shares rose by 1.1% on Monday. Meanwhile, top gainers in the sector included TeraWulf Inc. WULF, up 10%, and Ribbon Communications Inc. RBBN, up 8%.
  • In trading on Monday, real estate fell by 0.6%.


Top Headline

Synchrony Financial SYF reported better-than-expected Q4 financial results.

Synchrony Financial posted Q4 earnings of $1.26 per share, beating analysts’ estimates of $1.12 per share. The company’s quarterly sales came in at $4.11 billion, versus expectations of $4.10 billion.


Equities Trading UP

  • Pliant Therapeutics, Inc.. PLRX shares shot up 48% to $33.31 after the company announced its trial for patients with Idiopathic Pulmonary Fibrosis met its primary and secondary endpoints.
  • Shares of Wayfair Inc. W got a boost, shooting 26% to $59.05 after multiple analysts upgraded the stock in the wake of the company's cost efficiency plan and business performance update.
  • Cadrenal Therapeutics, Inc. CVKD shares were also up, gaining 23% to $5.07. Cadrenal Therapeutics was granted FDA Fast Track designation for tecarfarin for prevention of systemic thromboembolism of cardiac origin in patients with end-stage renal disease and atrial fibrillation.


Equities Trading DOWN

  • Catalyst Pharmaceuticals, Inc. CPRX shares tumbled 29% to $14.71 after Teva Pharmaceuticals stated it plans to sell a generic version of Catalyst's FIRDAPSE in the United States.
  • Shares of Cosmos Health Inc. COSM were down 12% to $4.67. Cosmos Health updated the payment terms of its agreement to acquire ZipDoctor.
  • Jaguar Health, Inc. JAGX was down, falling 13% to $5.55. Jaguar Health announced establishment of board of directors for newly formed joint venture Magdalena Biosciences.
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In commodity news, oil traded up 0.7% to $82.17 while gold traded down 0.7% at $1,915.10.

Silver traded down 4% to $22.99 on Monday while copper fell 0.3% to $4.2380.


Euro zone

European shares were mixed today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 rose 0.2% while Spain’s IBEX 35 Index slipped 0.1%. The German DAX gained 0.1% French CAC 40 gained 0.2% and Italy’s FTSE MIB Index fell 0.4%.


Asia Pacific Markets

Asian markets closed higher on Monday, with Japan’s Nikkei 225 adding 1.33% and India’s S&P BSE Sensex gaining 0.5%. Many Asian markets were closed for the Lunar New Year holidays.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 103,856,210 cases with around 1,128,800 deaths. India confirmed a total of at least 44,682,010 cases and 530,730 deaths, while France reported over 39,484,540 COVID-19 cases with 163,750 deaths. In total, there were at least 673,376,870 cases of COVID-19 worldwide with more than 6,746,780 deaths.

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