Dow Rises Over 100 Points; Lululemon Posts Upbeat Q3 Earnings - Akanda (NASDAQ:AKAN), Applied Therapeutics (NASDAQ:APLT)

U.S. stocks traded mixed this morning, with the Dow Jones index gaining more than 100 points on Friday.

Following the market opening Friday, the Dow traded up 0.24% to 48,819.22 while the NASDAQ fell 0.34% to 23,514.76. The S&P 500 also fell, dropping, 0.13% to 6,892.15.

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Leading and Lagging Sectors

Materials shares jumped by 0.9% on Friday.

In trading on Friday, information technology stocks fell by 0.9%.

Top Headline

Lululemon Athletica Inc. (NASDAQ: LULU ) posted better-than-expected results for the third quarter and raised its full-year guidance on Thursday.

Lululemon reported quarterly earnings of $2.59 per share, which beat the analyst estimate of $2.27 by 14.15%, according to data from Benzinga Pro. Quarterly revenue of $2.57 billion beat the Street estimate of $2.48 billion and was up from revenue of $2.4 billion from the same period last year.

Equities Trading UP
           

cbdMD Inc (NYSE: YCBD ) shares shot up 101% to $1.26 after the company announced it had regained full compliance with NYSE American listing standards. Shares of Akanda Corp (NASDAQ: AKAN ) got a boost, surging 42% to $1.12. Shares of cannabis-linked stocks traded higher following a report suggesting that President Trump is expected to reclassify marijuana as a Schedule III drug. Zedge Inc (NYSE: ZDGE ) shares were also up, gaining 33% to $3.24 r after the company reported better-than-expected quarterly financial results.

Equities Trading DOWN

Applied Therapeutics Inc (NASDAQ: APLT ) shares dropped 48% to $0.11 after Cycle Pharmaceuticals announced plans to acquire the company. Shares of Fermi Inc (NASDAQ: FRMI ) were down 40% to $9.19 after First Tenant notified the company that it is terminating the AICA. Tenaya Therapeutics Inc (NASDAQ: TNYA ) was down, falling 29% to $0.97 after the company announced the pricing of a $60 million public offering of 50 million units at $1.20 per unit.

Commodities

In commodity news, oil traded down 0.2% to $57.49 while gold traded up 1.5% at $4,376.20.

Silver traded up 0.5% to $64.895 on Friday, while copper rose 0.2% to $5.5095.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.2%, while Spain's IBEX 35 Index rose 0.7%. London's FTSE 100 fell 0.1%, Germany's DAX 40 rose 0.3% and France's CAC 40 surged 0.6% during the session.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan's Nikkei gaining 1.37%, Hong Kong's Hang Seng surging 1.75%, China's Shanghai Composite rising 0.41% and India's BSE Sensex gaining 0.53%.

Economics

The Baker Hughes oil rig count report will be released today.

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Photo via Shutterstock

AKAN Akanda Corp $1.04 32.3% Overview APLT Applied Therapeutics Inc $0.1110 -48.8% FRMI Fermi Inc $8.53 -44.1% LULU Lululemon Athletica Inc $209.27 11.9% TNYA Tenaya Therapeutics Inc $0.9055 -33.4% YCBD cbdMD Inc $1.12 77.5% ZDGE Zedge Inc $4.12 69.5% Market News and Data brought to you by Benzinga APIs

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