Crude Oil Surges 2%; B. Riley Financial Shares Plunge

Author: Avi Kapoor | August 12, 2024 12:00pm

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 0.2% on Monday.

The Dow traded down 0.39% to 39,341.75 while the NASDAQ rose 0.19% to 16,777.09. The S&P 500 also fell, dropping, 0.02% to 5,342.9.

Leading and Lagging Sectors

Information technology shares climbed by 1% on Monday.

In trading on Monday, real estate shares fell 1.1%.

Top Headline

KE Holdings (NASDAQ:BEKE) reported better-than-expected second-quarter financial results and increased its repurchase authorization.

Equities Trading UP
                       

• Greenlane Holdings, Inc. (NASDAQ:GNLN) shares shot up 220% to $8.17 after the company announced that it has entered into a non-binding letter of intent to be the exclusive distributor in the U.S, of Safety Strips, fentanyl, xylazine and drink spike detection test strips.
• Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC) got a boost, surging 86% to $6.57 after the company entered into a merger agreement with Crown Laboratories.
• Interactive Strength Inc. (NASDAQ:TRNR) shares were also up, gaining 58% to $0.55 after the company received a letter stating that the Nasdaq Hearings Panel granted its request for continued listing on the Nasdaq Stock Market.

Equities Trading DOWN

• B. Riley Financial, Inc. (NASDAQ:RILY) shares dropped 56% to $7.52 after the company reported preliminary second-quarter financial results.
• Shares of Neuronetics, Inc. (NASDAQ:STIM) were down 55% to $0.79 after the company reported worse-than-expected second-quarter financial results and issued third-quarter revenue guidance below estimates. Also, the company announced it will acquire Greenbrook TMS in an all-stock transaction.
• iLearningEngines, Inc. (NASDAQ:AILE) was down, falling 40% to $3.46. iLearningEngines will report financial results for the second quarter before the opening bell on Tuesday, Aug. 13.

Commodities

In commodity news, oil traded up 2.2% to $78.55 while gold traded up 0.9% at $2,494.40.

Silver traded up 1% to $27.845 on Monday, while copper rose 1.9% to $4.0685.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 fell 0.02%, Germany's DAX rose 0.02% and France's CAC 40 fell 0.26%. Spain's IBEX 35 Index rose 0.07%, while London's FTSE 100 rose 0.52%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.13%, China's Shanghai Composite Index falling 0.14% and S&P BSE Sensex falling 0.07%.

Economics

The US government budget report will be released today.

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Posted In: AILE BEKE GNLN RILY RVNC STIM TRNR