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News

S&P 500 Down 1%; Delta Air Lines Posts Upbeat Earnings

Author: Avi Kapoor | April 10, 2024 02:34pm

U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 1% on Wednesday.

The Dow traded down 1.15% to 38,438.09 while the NASDAQ fell 0.89% to 16,162.29. The S&P 500 also fell, dropping, 0.95% to 5,160.20.

Check This Out: How To Earn $500 A Month From Citigroup Stock Ahead Of Q1 Earnings Report

 

Leading and Lagging Sectors

 

Energy shares rose by 0.3% on Wednesday.

In trading on Wednesday, real estate shares tumbled by 4.3%.

 

Top Headline

 

Delta Air Lines, Inc. (NYSE:DAL) reported better-than-expected first-quarter earnings.

Delta reported a first-quarter 2024 operating revenue growth of 8% year-over-year to $13.748 billion and adjusted operating revenue of $12.563 billion (+6% YoY), beating the consensus of $12.57 billion. Adjusted EPS was 45 cents, above the consensus of 36 cents.

 

Equities Trading UP

 

Marin Software Incorporated (NASDAQ:MRIN) shares shot up 144% to $0.70 after the company announced upgrades to its integration with Microsoft Advertising.

Shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) got a boost, surging 84% to $2.08 after the company announced the publication of a peer-reviewed article highlighting the clinical results, strong safety profile, and high compliance among patients administered AD04.

Jaguar Health, Inc. (NASDAQ:JAGX) shares were also up, gaining 38% to $0.1245 after the company announced the approval of all proposals at its April 2024 Special Meeting of Stockholders and said it is not implementing a reverse split at this time.

 

Equities Trading DOWN

 

VIA optronics AG (NYSE:VIAO) shares dropped 33% to $0.6054. VIA optronics announced intention to voluntarily delist its ADSs from the New York Stock Exchange. VIA optronics and Antolin unveiled Sunrise, a new horizon of integration in vehicle cockpits.

Shares of Ascent Solar Technologies, Inc. (NASDAQ:ASTI) were down 52% to $0.1330 after the company announced pricing of a $6 million public offering of shares at $0.14 per share.

Velo3D, Inc. (NYSE:VLD) was down, falling 40% to $0.2798 after the company announced pricing of a $12 million public offering.

Also Check This Out: Around $1M Bet On This Healthcare Stock? Check Out These 3 Penny Stocks Insiders Are Buying

 

Commodities

 

In commodity news, oil traded up 1.1% to $86.14 while gold traded down 0.2% at $2,357.00.

Silver traded up 0.7% to $28.185 on Wednesday, while copper fell 0.1% to $4.2815.

 

Euro zone

 

European shares were mixed today. The eurozone’s STOXX 600 rose 0.15%, London’s FTSE 100 rose 0.33% while Spain’s IBEX 35 Index fell 0.38% The German DAX rose 0.11% French CAC 40 fell 0.05% while Italy’s FTSE MIB Index rose 0.27%.

The value of retail sales in Italy rose by 0.1% from the prior month in February.

 

Asia Pacific Markets

 

Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 falling 0.48%, Hong Kong’s Hang Seng Index gaining 1.85%, China’s Shanghai Composite falling 0.70% and India’s S&P BSE Sensex gaining 0.47%.

Producer prices in Japan rose by 0.8% year-over-year in March, while value of loans rose 3.2% year-over-year in March. Chinese vehicle sales climbed by 9.9% year-over-year to 2.69 million units in March compared to a 19.9% decline in the previous month.

 

Economics

 

U.S. mortgage applications rose 0.1% on the week ending April 5, 2024.

U.S. annual inflation rate rose for a second consecutive month to 3.5% in March from 3.2% in February.

U.S. wholesale inventories increased by 0.5% month-over-month in February compared to a 0.2% decline in the previous month.

U.S. crude oil inventories increased by 5.841 million barrels in the week ended April 5, compared to market estimates of a 2.366 million gain.

Now Read This: Tesla To $205? Here Are 10 Top Analyst Forecasts For Wednesday

Posted In: ADIL ASTI DAL JAGX MRIN VIAO VLD

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