Crude Oil Gains Over 1%; Cintas Shares Jump After Q3 Earnings

U.S. stocks traded mostly lower midway through trading, with the Dow Jones index falling by around 0.1% on Wednesday.

The Dow traded down 0.05% to 42,567.48 while the NASDAQ fell 1.58% to 17,982.46. The S&P 500 also fell, dropping, 0.81% to 5,729.89.

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Leading and Lagging Sectors

Energy shares jumped by 1.5% on Wednesday.

In trading on Wednesday, information technology shares fell by 1.5%.

Top Headline

Cintas Corporation CTAS shares jumped over 8% on Wednesday after the company posted better-than-expected third-quarter earnings.

Cintas reported quarterly earnings of $1.13 per share which beat the analyst consensus estimate of $1.06 per share. The company reported quarterly sales of $2.609 billion which beat the analyst consensus estimate of $2.597 billion.

Equities Trading UP

Worthington Enterprises, Inc. WOR shares shot up 20% to $49.96 as the company posted better-than-expected earnings for the third quarter.
Shares of OSR Holdings, Inc. OSRHgot a boost, surging 92% to $3.0805 after its subsidiary, Vaximm AG, announced Phase 2a trial results for VXM01 and Avelumab combination therapy in glioblastoma, demonstrating safety and tolerability.
VivoPower International PLC VVPR shares were also up, gaining 110% to $4.7601. The company is in advanced bilateral negotiations on all-cash takeover offer at enterprise value of $120 million.

Equities Trading DOWN

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Acrivon Therapeutics, Inc ACRV shares dropped 37% to $3.38. HC Wainwright & Co. analyst Emily Bodnar maintained Acrivon Therapeutics with a Buy and lowered the price target from $22 to $19.
Shares of Intchains Group Limited ICG were down 27% to $3.00 after the company announced entry into agreement for registered direct offering of its ADSs and warrants.
Aclarion, Inc. ACON was down, falling 29% to $0.5326 after the company announced a 1-for-27 reverse stock split.

Commodities

In commodity news, oil traded up 1.4% to $69.96 while gold traded down 0.1% at $3,023.10.

Silver traded down 0.1% to $34.165 on Wednesday, while copper rose 1.2% to $5.2740.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 dipping 0.48%, Germany's DAX 40 fell 0.77% and France's CAC 40 dipped 0.63%. Spain's IBEX 35 Index fell 0.17%, while London's FTSE 100 gained 0.35%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 0.65%, China's Shanghai Composite Index falling 0.04%, Hong Kong's Hang Seng Index rising 0.60% and India's BSE Sensex falling 0.93%.

Economics

U.S. new orders for manufactured durable goods rose 0.9% month-over-month to $289.3 billion in February.
U.S. mortgage applications declined by 2% in the week ending March 21, compared to a 6.2% fall in the previous period.

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