US Stocks Gain; PepsiCo Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the Dow Jones gaining more than 50 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.19% to 33,668.96 while the NASDAQ rose 0.16% to 13,505.57. The S&P 500 also rose, gaining, 0.18% to 4,343.67.

Check This Out: Walgreens Likely To Report Lower Q4 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Leading and Lagging Sectors

Consumer staples shares rose by 0.8% on Tuesday.

In trading on Tuesday, real estate shares fell by around 0.3%.

Top Headline

PepsiCo Inc PEP reported better-than-expected earnings for its third quarter on Tuesday.

The company posted third-quarter FY23 sales growth of 6.7% year-on-year to $23.45 billion, beating the analyst consensus estimate of $23.43 billion. Adjusted EPS of $2.25 beat the consensus estimate of $2.15.

PepsiCo continues to expect FY23 organic revenue growth of 10%. For FY23, the company now expects to deliver 13% core constant currency EPS growth (previously 12%). The company raised its FY23 adjusted EPS outlook from $7.47 to $7.54 versus the consensus of $7.49.

Equities Trading UP

SMX (Security Matters) Public Limited Company SMX shares shot up 92% to $3.2581 after the company announced it secured a majority stake in True Gold Consortium.

Shares of SuperCom Ltd. SPCB got a boost, shooting 82% to $0.6560, after falling 13% on Monday.

CISO Global Inc. CISO shares were also up, gaining 56% to $0.2168. CISO Global said its Argo Edge Cloud Security Platform has been independently valued at $49 million.

Equities Trading DOWN

Akero Therapeutics, Inc. AKRO shares dropped 61% to $18.87 after the company reported a 36-week analysis of its Phase 2b SYMMETRY study evaluating the efficacy and safety of its lead product candidate efruxifermin.

Shares of Athersys, Inc. ATHX were down 61% to $0.1180 after the company reported interim analysis results of MASTERS-2 clinical study with multistem in ischemic stroke and signed a Memorandum of Understanding for global ARDS license with Healios.

89bio, Inc. ETNB was down, falling 31% to $10.64.

Also Check This Out: Check Out 3 High-Yielding Dividend Stocks In Energy Sector From Wall Street's Most Accurate Analysts

Commodities

In commodity news, oil traded down 0.4% to $86.07 while gold traded up 0.2% at $1,868.00.

Silver traded down 0.6% to $21.79 on Tuesday while copper fell 1.3% to $3.5985.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1.5% London’s FTSE 100 gained 1.6% while Spain’s IBEX 35 Index rose 1.8% The German DAX rose 1.5% French CAC 40 climbed 1.4%, while Italy’s FTSE MIB Index gained 1.8%.

Industrial production in Italy rose 0.2% month-over-month in August following a revised 0.9% fall in July. Retail sales in the UK rose 2.8% from a year ago in September.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 2.43%, China’s Shanghai Composite Index falling 0.70% and Hong Kong’s Hang Seng Index gaining 0.84%. India’s S&P BSE Sensex, meanwhile, rose 0.9%.

Japan's current account surplus narrowed to JPY 2.280 trillion in August from JPY 2.772 trillion in the prior month, compared to market estimates of JPY 3.091 trillion.

Economics

The NFIB Small Business Optimism Index fell for a second month to a reading of 90.8 in September from 91.3 in the prior month.

Now Read This: Top 3 Tech And Telecom Stocks You May Want To Dump In October