Dow Jumps Over 100 Points; Estee Lauder Shares Edge Lower After Q4 Results

Author: Avi Kapoor | August 19, 2024 09:56am

U.S. stocks traded mostly higher this morning, with the Dow Jones index gaining more than 100 points on Monday.

The Dow traded up 0.35% to 40,802.99 while the NASDAQ fell 0.07% to 17,619.64. The S&P 500 also rose, gaining, 0.16% to 5,563.26.

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Leading and Lagging Sectors

Communication services shares climbed by 0.7% on Monday.

In trading on Monday, information technology shares fell by 0.5%.

Top Headline

Estee Lauder Companies Inc (NYSE:EL) shares fell slightly after the company reported its fourth-quarter results.

The company reported sales growth of 7% Y/Y to $3.87 billion, beating the analyst consensus estimate of $3.83 billion. Estee Lauder's operating loss was $233 million, compared to a $5 million loss last year. Adjusted EPS of 64 cents beat the analyst consensus estimate of 27 cents.

Equities Trading UP
                       

• Alzamend Neuro, Inc. (NASDAQ:ALZN) shares shot up 262% to $7.37 after the company announced that it is partnering with Massachusetts General Hospital as its contract research organization to conduct first of its kind Phase II clinical study of AL001 for treatment of patients with PTSD.
• Shares of Virax Biolabs Group Limited (NASDAQ:VRAX) got a boost, surging 152% to $5.37. Shares of vaccine and mpox-related stocks traded higher on continued strength after the WHO last week declared the virus a global health emergency.
• Applied DNA Sciences, Inc. (NASDAQ:APDN) shares were also up, gaining 116% to $1.6903 after jumping 78% on Friday.

Equities Trading DOWN

• Liquidia Corporation (NASDAQ:LQDA) shares dropped 39% to $8.63. The company announced that the FDA granted tentative approval of YUTREPIA inhalation powder to treat adults with pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.
• Shares of Theriva Biologics, Inc. (NASDAQ:TOVX) were down 30% to $0.1411 after the company announced a 1-for-25 reverse stock split.
• GD Culture Group Limited (NASDAQ:GDC) was down, falling 25% to $1.51.

Commodities

In commodity news, oil traded down 0.3% to $76.39 while gold traded down 0.5% at $2,525.90.

Silver traded up 0.4% to $28.97 on Monday, while copper rose 0.7% to $4.1740.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.5%, Germany's DAX rose 0.4% and France's CAC 40 rose 0.7%. Spain's IBEX 35 Index rose 1.4%, while London's FTSE 100 rose 0.4%.

Spain’s trade deficit narrowed to EUR 0.7 billion in June from EUR 2.4 billion in the year-ago month.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 falling 1.77%, Hong Kong's Hang Seng Index climbing 0.80%, China's Shanghai Composite Index gaining 0.49% and India's BSE Sensex falling 0.02%.

Economics

The CB Leading Index will be released today.

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Posted In: ALZN APDN EL GDC LQDA TOVX VRAX