Crude Oil Moves Higher; Yext Shares Fall After Q1 Results

Author: Avi Kapoor | June 11, 2024 12:12pm

U.S. stocks traded lower midway through trading, with the Dow Jones index falling by more than 200 points on Tuesday.

The Dow traded down 0.56% to 38,650.35 while the NASDAQ fell 0.09% to 17,177.00. The S&P 500 also fell, dropping, 0.33% to 5,343.26.

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Leading and Lagging Sectors

Information technology shares climbed by 0.5% on Tuesday.

In trading on Tuesday, financials shares fell by 1.5%.

Top Headline

Yext, Inc. (NYSE:YEXT) shares fell around 5% during Tuesday's session after the company reported worse-than-expected first-quarter financial results, issued weak second-quarter guidance and announced it will acquire Hearsay Systems.

Yext reported quarterly earnings of 5 cents per share which missed the analyst consensus estimate of 6 cents. Quarterly sales came in at $96 million which missed the analyst consensus estimate of $96.325 million.

Equities Trading UP

Trio Petroleum Corp. (NYSE:TPET) shares shot up 89% to $0.4355 after the company completed its first two exploratory wells.
Shares of CuriosityStream Inc. (NASDAQ:CURI) got a boost, surging 33% to $1.30 as the company announced a share repurchase plan.
Airship AI Holdings, Inc. (NASDAQ:AISP) shares were also up, gaining 35% to $4.2450. Airship AI announced a six-figure sole-source contract award within the Department of Justice for Acropolis Enterprise Video and Data Management Platform.

Equities Trading DOWN

Target Hospitality Corp. (NASDAQ:TH) shares dropped 36% to $6.72 after the company announced that it received notice that the U.S. government intends to terminate the existing South Texas Family Residential Center services agreement with its migrant programming partner.
Shares of Barnes & Noble Education, Inc. (NYSE:BNED) were down 30% to $0.0943. Barnes & Noble Education announced leadership changes and reverse stock split.
CoreCivic, Inc (NYSE:CXW) was down, falling 20% to $11.81 after the company announced that it received a notice from the U.S. Immigration and Customs Enforcement that the agency intends to terminate its inter-governmental service agreement for services at the South Texas Family Residential Center.

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Commodities

In commodity news, oil traded up 0.5% to $78.11 while gold traded up 0.3% at $2,333.00.

Silver traded down 2% to $29.275 on Tuesday, while copper fell 1.4% to $4.4805.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.88%, Germany's DAX declined 0.73% and France's CAC 40 fell 1.18%. Spain's IBEX 35 Index fell 1.58%, while London's FTSE 100 fell 0.94%.

The number of people in work in the UK fell by 139 thousand during the three months to April, while average weekly earnings including bonuses rose 5.9% year-over-year to GBP 687 per week. The UK's unemployment rate increased to 4.4% from February to April, compared to the prior three-month period's 4.3% level.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei gaining 0.25%, Hong Kong's Hang Seng Index falling 1.04%, China's Shanghai Composite Index declining 0.76% and India's S&P BSE Sensex gaining 0.2%.

Japan's machine tool orders gained by 4.2% year-over-year to JPY 124,554 million in May compared to an 11.6% decline in the prior month.

Economics

The NFIB Small Business Optimism Index climbed to 90.5 in May, notching the highest level in five months, compared to 89.7 in April and also topping market estimates of 89.8.

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Posted In: AISP BNED CURI CXW TH TPET YEXT