Nasdaq Down 50 Points; ConocoPhillips Posts Upbeat Earnings - ACTELIS NETWORKS INC by Actelis Networks, I

U.S. stocks traded lower toward the end of trading, with the Dow Jones dropping over 300 points on Thursday.

The Dow traded down 1.19% to 33,015.85 while the NASDAQ fell 0.49% to 11,966.96. The S&P 500, also fell, dropping, 0.80% to 4,058.14.

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Leading and Lagging Sectors

Real estate shares rose by 0.9% on Thursday. Meanwhile, top gainers in the sector included Zillow Group, Inc. (NASDAQ:ZG), up 11%, and Uniti Group Inc. (NASDAQ:UNIT), up 14%.
In trading on Thursday, financial shares tumbled by 1.3%.

Top Headline

ConocoPhillips (NYSE:COP) reported better-than-expected earnings for its first quarter.

ConocoPhillips reported Q1 adjusted EPS of $2.38, beating the consensus of $2.10. Revenues of $15.5 billion declined from $19.3 billion a year ago and missed the consensus of $15.75 billion.

Equities Trading UP

Inseego Corp. (NASDAQ:INSG) shares shot up 57% to $0.8482 after the company reported better-than-expected Q1 EPS and sales results.
Shares of Soligenix, Inc. (NASDAQ:SNGX) got a boost, shooting 45% to $2.06 after the company announced clinical results from a compatability study of HyBryte in the treatment of cutaneous T-cell lymphoma.
Actelis Networks, Inc. (NASDAQ:ASNS) shares were also up, gaining 48% to $5.30. Actelis Networks reported a $3.5 million private placement priced at-the-market under Nasdaq rules.

Equities Trading DOWN

Enviva Inc. (NYSE:EVA) shares dropped 67% to $7.08 after the company reported weak Q1 results.
Shares of FARO Technologies, Inc. (NASDAQ:FARO) were down 43% to $13.45 after the company reported worse-than-expected Q1 adjusted EPS results. Following earnings, Craig-Hallum maintained a Hold on the stock and lowered its price target from $30 to $22.
Sensus Healthcare, Inc. (NASDAQ:SRTS) was down, falling 44% to $2.7550 after the company announced downbeat Q1 results.

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Commodities

In commodity news, oil traded down 0.1% to $68.54 while gold traded up 1% at $2,057.50.

Silver traded up 2.4% to $26.305 on Thursday while copper rose 0.3% to $3.8570.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 fell 0.47%, London’s FTSE 100 fell 1.1% while Spain’s IBEX 35 Index fell 0.36% The German DAX fell 0.51%, French CAC 40 fell 0.85% and Italy’s FTSE MIB Index fell 0.61%.

The European Central Bank increased its key interest rates by 25 basis points at its May meeting. Producer prices in the Eurozone fell by 1.6% from a month ago in March versus market estimates of a 1.7% decline.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan’s Nikkei 225 rising 0.12%, Hong Kong’s Hang Seng Index gaining 1.27% and China’s Shanghai Composite Index climbing 0.82%. India’s S&P BSE Sensex rose 0.9%.

Retail sales in Hong Kong surged to a record-high of 39.4% year-over-year in March versus a 29.7% increase in the prior month.

Economics

U.S.-based employers reported job cuts of 66.995K in April.
U.S. initial jobless claims increased by 13 thousand to 242 thousand in the week ending April 29, versus market estimates of 240 thousand.
Nonfarm business sector labor productivity fell 2.7% in the first quarter, while unit labor costs increased an annualized 6.3% in the quarter.
Imports to the U.S. fell by $1.1 billion to reach $320.4 billion in March, while exports rose by $5.3 billion to $256.2 billion.

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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 106,613,320 cases with around 1,159,690 deaths. India confirmed a total of at least 44,924,810 cases and 531,420 deaths, while France reported over 39,974,420 COVID-19 cases with 166,420 deaths. In total, there were at least 686,882,230 cases of COVID-19 worldwide with more than 6,862,560 deaths.

ASNSACTELIS NETWORKS INC by Actelis Networks, Inc.

SRTSSensus Healthcare Inc

$3.49-3.32%

UNITUniti Group Inc

$11.120.59%

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