Nasdaq Tumbles 3%; Tyson Foods Earnings Top Views

Author: Avi Kapoor | August 05, 2024 10:20am

U.S. stocks traded lower this morning, with the Dow Jones falling more than 2% on Monday.

The Dow traded down 2.18% to 38,872.06 while the NASDAQ fell 3.14% to 16,248.99. The S&P 500 also fell, dropping, 2.54% to 5,211.01.

Leading and Lagging Sectors

Real estate shares fell by just 0.9% on Monday.

In trading on Monday, information technology shares dipped by 3.4%.

Top Headline

Tyson Foods, Inc. (NYSE:TSN) reported better-than-expected third-quarter earnings on Monday.

Quarterly adjusted earnings per share of 87 cents (+480%) beat the street view of 65 cents. Sales of $13.353 billion (+1.6%) beat the analyst consensus of $13.236 billion.

Equities Trading UP

MGO Global, Inc. (NASDAQ:MGOL) shares shot up 55% to $3.99 after gaining over 5% on Friday.
Shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) got a boost, surging 25% to $0.6259 .
Kernel Group Holdings, Inc. (NASDAQ:KRNL) shares were also up, gaining 25% to $13.99.

Equities Trading DOWN

Actinium Pharmaceuticals, Inc. (NASDAQ:ATNM) shares dropped 72% to $1.7006 after the FDA determined that its Phase 3 SIERRA trial is not adequate to support a BLA filing for Iomab-B.
Shares of VBI Vaccines Inc. (NASDAQ:VBIV) were down 34% to $0.0615. VBI Vaccines was notified that its common shares will be delisted from Nasdaq effective as of opening of business on Aug. 8.
Urgent.ly Inc. (NASDAQ:ULY) was down, falling 32% to $0.9699. Urgently will host a conference call on Monday, Aug. 12 to discuss its financial results for the second quarter.

Commodities

In commodity news, oil traded down 0.5% to $73.05 while gold traded down 1.5% at $2,433.40.

Silver traded down 4% to $27.265 on Monday, while copper fell 2.1% to $4.0160.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 2.5%, Germany's DAX fell 2.5% and France's CAC 40 fell 2.1%. Spain's IBEX 35 Index fell 2.5%, while London's FTSE 100 fell 2.6%.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei 225 dipping 12.4%, Hong Kong's Hang Seng Index falling 1.46%, China's Shanghai Composite Index falling 1.54% and S&P BSE Sensex declining 2.74%.

Economics

The ISM services PMI climbed to 51.4 in July from 48.8 in April and also topping market expectations of 51.
The S&P Global composite PMI was revised lower to 54.3 in July versus the preliminary reading of 55.

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