US Stocks Edge Higher; Domino's Posts Upbeat Earnings

Author: Avi Kapoor | February 26, 2024 10:48am

U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining around 50 points on Monday.

Following the market opening Monday, the Dow traded up 0.04% 39,148.74 while the NASDAQ rose 0.36% to 16,054.82. The S&P 500 also rose, gaining, 0.16% to 5,096.91.

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Leading and Lagging Sectors

 

Consumer discretionary shares rose by 0.2% on Monday.

In trading on Monday, utilities shares fell by 0.1%.

 

Top Headline

 

Domino’s Pizza Inc (NYSE:DPZ) reported better-than-expected fourth-quarter earnings.

The pizza chain reported fourth-quarter EPS of $4.48, beating the consensus of $4.38. The company reported sales of $1.40 billion, a slight improvement from $1.39 billion, marginally below the consensus estimate of $1.42 billion.

Domino's raised its quarterly dividend by 25% to $1.51 and authorized additional stock buyback of up to $1 billion.

 

Equities Trading UP

 

Akili, Inc. (NASDAQ:AKLI) shares shot up 148% to $0.5445 after the company reported positive results from Shionogi's Phase 3 clinical trial of localized version of Akili's EndeavorRx® for Pediatric ADHD patients in Japan.

Shares of ZyVersa Therapeutics, Inc. (NASDAQ:ZVSA) got a boost, surging 133% to $1.87 after surging over 30% on Friday.

MicroCloud Hologram Inc. (NASDAQ:HOLO) shares were also up, gaining 75% to $11.55 after tumbling 40% on Friday.

 

Equities Trading DOWN

 

Aclarion, Inc. (NASDAQ:ACON) shares dropped 66% to $0.3041 after the company priced its public offering of 5.175 million units. Each unit includes one share of common stock (or a pre-funded warrant), and two common warrants.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were down 25% to $7.18 after the company said its lunar lander may have tipped over upon landing on the moon.

Brera Holdings PLC (NASDAQ:BREA) was down, falling 21% to $0.8679.

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Commodities

 

In commodity news, oil traded down 0.3% to $76.28 while gold traded down 0.6% at $2,036.20.

Silver traded down 2% to $22.525 on Monday while copper fell 1.4% to $3.8475.

 

Euro zone

 

European shares were mixed today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index rose 0.1% The German DAX gained 0.1% French CAC 40 fell 0.4% while Italy’s FTSE MIB Index fell 0.3%.

Producer prices in Spain declined by 3.8% year-over-year in January following a 6.3% fall in the earlier month.

 

Asia Pacific Markets

 

Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 gaining 0.35%, Hong Kong’s Hang Seng Index falling 0.54%, China’s Shanghai Composite Index dipping 0.93% and India’s S&P BSE Sensex falling 0.4%.

Singapore’s manufacturing production gained 1.1% year-over-year in January following a revised 2.4% decline in December.

 

Economics

 

Building permits in the U.S. fell by 0.3% to an annual rate of 1.489 million in January.

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Posted In: ACON AKLI BREA DPZ HOLO LUNR ZVSA