Gold Gains Over 1%; Starbucks Shares Move Higher

Author: Avi Kapoor | August 12, 2024 02:33pm

U.S. stocks traded mixed toward the end of trading, with the S&P 500 edging higher on Monday.

The Dow traded down 0.47% to 39,310.03 while the NASDAQ rose 0.17% to 16,773.12. The S&P 500 also fell, dropping, 0.08% to5,339.84.

Leading and Lagging Sectors

Information technology shares climbed by 1% on Monday.

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

Top Headline

Starbucks Corp (NASDAQ:SBUX) shares gained around 2% on Monday following a report suggesting activist investor interest is brewing.

According to a Wall Street Journal report citing people familiar with the matter, activist investor Starboard Value has taken a stake in Starbucks and wants the coffee giant to focus on boosting its stock price.

Equities Trading UP
                       

• Greenlane Holdings, Inc. (NASDAQ:GNLN) shares shot up 218% to $7.95 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 63% to $0.5651 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 53% to $8.02 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 47% to $3.0450. iLearningEngines will report financial results for the second quarter before the opening bell on Tuesday, Aug. 13.

Commodities

In commodity news, oil traded up 2.8% to $79.02 while gold traded up 1.3% at $2,504.40.

Silver traded up 1.4% to $27.965 on Monday, while copper rose 1.8% to $4.0645.

Euro zone

European shares closed 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

U.S. consumer inflation expectations for the year ahead came in unchanged at 3% for July.

The U.S. government budget deficit increased to $244 billion in July compared to a $220.7 billion gap recorded in the yera-ago month.

Now Read This:

• This Robinhood Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday

Posted In: AILE GNLN RILY RVNC SBUX STIM TRNR