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News

Dow Falls Over 200 Points; Krispy Kreme Reports Downbeat Results

Author: Lisa Levin | November 09, 2023 03:45pm

U.S. stocks traded lower toward the end of trading, with the Dow Jones falling over 200 points on Thursday.

The Dow traded down 0.71% to 33,871.77 while the NASDAQ fell 0.87% to 13,531.36. The S&P 500 also fell, dropping, 0.80% to 4,347.67.

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Leading and Lagging Sectors

 

Energy shares rose by 0.3% on Thursday.

In trading on Thursday, health care shares fell by 1.7%.

 

Top Headline

 

Krispy Kreme Inc (NASDAQ:DNUT) reported downbeat results for its third quarter on Thursday.

Krispy Kreme reported third-quarter FY23 sales growth of 7.9% year-on-year to $407.37 million, missing the analyst consensus estimate of $413.93 million. Adjusted EPS of $0.03 missed the consensus of $0.06.

The company continues to see FY23 adjusted EPS of $0.31-$0.34 versus the Street view of $0.32.

 

Equities Trading UP

 

Astra Space, Inc. (NASDAQ:ASTR) shares shot up 63% to $1.2087 after the company announced it received a non-binding proposal from founders Chris Kemp and Adam London offering to acquire all of the outstanding common stock of the company not currently owned by Kemp and London.

Shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) got a boost, shooting 173% to $0.6202 as the company posted first-quarter results.

The Honest Company, Inc. (NASDAQ:HNST) shares were also up, gaining 30% to $1.56 following upbeat quarterly results.

 

Equities Trading DOWN

 

Ikena Oncology, Inc. (NASDAQ:IKNA) shares dropped 65% to $1.45 following weak sales.

Shares of Atara Biotherapeutics, Inc. (NASDAQ:ATRA) were down 80% to $0.2425 after the company said that primary analysis data from its Phase 2 EMBOLD study of ATA188 in non-active progressive multiple sclerosis (PMS) did not meet the primary endpoint of confirmed disability improvement (CDI) by expanded disability status scale (EDSS) at 12 months compared to placebo.

Enviva Inc. (NYSE:EVA) was down, falling 77% to $0.8657 following third-quarter results. Enviva named Glenn Nunziata as interim Chief Executive Officer in addition to his CFO role.

Also Check This Out: Jim Cramer Cautions Against Investing In World's Top Scotch Whisky Distiller: 'Getting Bad Vibes'

 

Commodities

 

In commodity news, oil traded up 1.3% to $76.32 while gold traded up 0.3% at $1,964.50.

Silver traded up 0.3% to $22.795 on Thursday while copper fell 0.1% to $3.6340.

 

Euro zone

 

European shares closed higher today. The eurozone’s STOXX 600 climbed 0.84%, London’s FTSE 100 rose 0.73% while Spain’s IBEX 35 Index rose 1.31% The German DAX rose 0.81% French CAC 40 rose 1.13%, while Italy’s FTSE MIB Index rose 0.74%.

 

Asia Pacific Markets

 

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 1.49%, Hong Kong’s Hang Seng Index falling 0.33% and China’s Shanghai Composite Index rising 0.03%. India’s S&P BSE Sensex, meanwhile, fell around 0.22%.

China's consumer prices fell by 0.2% year-over-year in October, while producer prices fell 2.6% year-over-year in October. The gauge for Japan's service sector sentiment fell to 49.5 in October versus 49.9 a month ago. Japan's current account surplus increased to JPY 2,726.3 billion in September, while value of loans in Japan climbed 2.8% year-over-year in October.

 

Economics

 

U.S. initial jobless claims fell by 3,000 to 217,000 in the week ending Nov. 9, compared to market estimates of 218,000.

Now Read This: How To Earn $500 A Month From Ralph Lauren Stock Following Upbeat Earnings

Posted In: ASTR ATRA DNUT EVA HNST IKNA INBS

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