Crude Oil Rises; Blend Labs Shares Jump Following Q2 Results

Author: Avi Kapoor | August 09, 2024 02:38pm

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining more than 50 points on Friday.

The Dow traded down 0.05% to 39,426.08 while the NASDAQ rose 0.36% to 16,720.23. The S&P 500 also rose, gaining, 0.30% to 5,335.46.

Leading and Lagging Sectors

Information technology shares climbed by 0.6% on Friday.

In trading on Friday, industrials shares fell 0.3%.

Top Headline

The total number of active U.S. oil rigs increased by three to 485 rigs this week, Baker Hughes Inc reported.

Equities Trading UP
                       

• Doximity, Inc. (NYSE:DOCS) shares shot up 36% to $35.02 after the company reported better-than-expected first-quarter financial results. Additionally, the company issued FY24 revenue guidance above estimates.
• Shares of Iteris, Inc. (NASDAQ:ITI) got a boost, surging 63% to $6.99 after the company announced it will be acquired by Almaviva for $335 million.
• Blend Labs, Inc.  (NYSE:BLND) shares were also up, gaining 19% to $3.2050 after the company reported better-than-expected second-quarter financial results. Also, William Blair upgraded the stock from Market Perform to Outperform.

Equities Trading DOWN

• AN2 Therapeutics, Inc. (NASDAQ:ANTX) shares dropped 60% to $1.0650 after the company announced that it will discontinue its EBO-301 study following topline results from its Phase 2 part of the study in treatment-refractory patients with MAC lung disease.
• Shares of Vicinity Motor Corp. (NASDAQ:VEV) were down 64% to $0.1091. Vicinity Motor will release financial results for the second quarter, after the closing bell on Wednesday, Aug. 14.
• Meta Materials Inc. (NASDAQ:MMAT) was down, falling 44% to $1.16 after the company disclosed in an SEC filing that it ceased operations and filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 in the US Bankruptcy Court.

Commodities

In commodity news, oil traded up 0.9% to $76.85 while gold traded up 0.2% at $2,467.20.

Silver traded down 0.3% to $27.515 on Friday, while copper rose 0.7% to $3.9865.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 rose 0.57%, Germany's DAX rose 0.24% and France's CAC 40 rose 0.31%. Spain's IBEX 35 Index rose 0.76%, while London's FTSE 100 rose 0.28%.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.56%, Hong Kong's Hang Seng Index gaining 1.17%, China's Shanghai Composite Index falling 0.27% and S&P BSE Sensex gaining 1.04%.

Economics

The total number of active U.S. oil rigs increased by three to 485 rigs this week, Baker Hughes Inc reported.

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Posted In: ANTX BLND DOCS ITI MMAT VEV