Crude Oil Dips; Addex Therapeutics Shares Spike Higher
By Benzinga
U.S. stocks traded mostly lower midway through trading, with the Dow Jones index falling around 0.2% on Tuesday.
The Dow traded down 0.16% to 41,175.13 while the NASDAQ fell 0.03% to 17,720.68. The S&P 500 also fell, dropping, 0.01% to 5,616.66.
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Leading and Lagging Sectors
Information technology shares climbed by 0.5% on Tuesday.
In trading on Tuesday, energy shares fell by 0.6%.
Top Headline
Hain Celestial Group, Inc. (NASDAQ:HAIN) reported better-than-expected quarterly results on Tuesday.
The company reported fourth quarter adjusted earnings per share of 13 cents, beating the analyst consensus estimate of 8 cents. Quarterly revenues of $418.80 million missed the street view of $421.2 million.
Equities Trading UP
- Ensysce Biosciences, Inc. (NASDAQ:ENSC) shares shot up 43% to $0.6190 after the company received a $14 million multi-year grant from the NIH for the continued development of its PF614-MPAR, an abuse-deterrent opioid with overdose protection.
- Shares of Addex Therapeutics Ltd (NASDAQ:ADXN) got a boost, surging 39% to $10.40 after the company and Indivior selected clinical candidates from their GABAB positive allosteric modulator research collaboration. The company is eligible for up to $330 million on achievement of milestones and royalties.
- VOXX International Corporation (NASDAQ:VOXX) shares were also up, gaining 70% to $4.8450 after announcing strategic alternatives process to maximize valuation.
Equities Trading DOWN
- Altisource Asset Management Corporation (NASDAQ:AAMC) shares dropped 48% to $1.2250 after the company announced intention to voluntarily delist and deregister its common stock from the NYSE American LLC.
- Shares of COSCIENS Biopharma Inc. (NASDAQ:CSCI) were down 26% to $4.3350 after the company announced results from Phase 3 DETECT-trial of AEZS-130-P02.
- American Woodmark Corporation (NASDAQ:AMWD) was down, falling 10% to $89.93 after the company reported worse-than-expected first-quarter financial results and expects FY25 sales to decline in low single digits.
Commodities
In commodity news, oil traded down 1.8% to $76.02 while gold traded down 0.2% at $2,550.90.
Silver traded down 0.1% to $29.97 on Tuesday, while copper rose 0.6% to $4.3085.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.17%, Germany’s DAX rose 0.40% and France’s CAC 40 fell 0.17%. Spain’s IBEX 35 Index rose 0.40%, while London’s FTSE 100 rose 0.28%.
German economy contracted by 0.1% quarter-over-quarter in the second quarter, following a 0.2% growth in the first quarter. The GfK Consumer Climate Indicator for Germany fell to a reading of -22.0 heading into September compared to a revised -18.6 in the prior period.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 0.47%, Hong Kong’s Hang Seng Index gaining 0.43%, China’s Shanghai Composite Index falling 0.24% and India’s BSE Sensex rising 0.02%.
Hong Kong’s trade deficit narrowed to $21.8 billion in July versus a $30 billion gap in the year-ago month, as exports increased more than imports.
Economics
- The S&P CoreLogic Case-Shiller home price index climbed by 6.5% year-over-year in June compared to a revised 6.9% rise in the prior month.
- The FHFA house price index fell 0.1% in June, compared to market expectations for a 0.2% gain.
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