Dow Edges Higher; Crude Oil Down 1%
U.S. stocks traded mostly flat midway through trading, with the Dow Jones trading slightly higher on Tuesday.
The Dow traded up 0.03% to 33,638.42 while the NASDAQ fell 0.07% to 11,356.65. The S&P 500 also fell, dropping, 0.09% to 4,016.08.
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Leading and Lagging Sectors
- Real estate shares gained by 0.6% on Tuesday. Meanwhile, top gainers in the sector included Offerpad Solutions Inc. OPAD, up 7%, and Opendoor Technologies Inc. OPEN, up 4%.
- In trading on Tuesday, energy shares fell by 1%.
Verizon Communications Inc VZ reported better-than-expected Q4 sales results.
Verizon reported a fourth-quarter FY22 sales growth of 3.5% year-on-year to $35.3 billion, beating the consensus of $35.1 billion. Adjusted EPS of $1.19 was in line with the consensus.
Verizon said it expects adjusted EPS of $4.55 - $4.85, below the consensus of $4.99.
Equities Trading UP
- Baudax Bio, Inc. BXRX shares shot up 54% to $4.84 after the company announced the outcome of its first interim analysis in a Phase II trial of BX1000 for neuromuscular blockade in patients undergoing elective surgery.
- Shares of bioAffinity Technologies, Inc. BIAF got a boost, shooting 86% to $2.9805 after the company announed the publication of results of its clinical trial in peer-reviewed journal Respiratory Research.
- Axcella Health Inc. AXLA shares were also up, gaining 37% to $0.5954 after the comapny announced a regulatory path to registration of AXA1125 in the treatment of Long COVID Fatigue.
Equities Trading DOWN
- Satixfy Communications Ltd. SATX shares tumbled 76% to $1.71. SatixFy recently appointed Ido Gur as its new Chief Executive Officer.
- Shares of LogicMark, Inc. LGMK were down 41% to $0.2146 after the company reported pricing of $5.2 million underwritten public offering priced above market.
- Verb Technology Company, Inc. VERB was down, falling 49% to $0.1997 after the company priced its $7.2 million underwritten public offering of common stock.
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