Nasdaq Down 1%; Lowe's Posts Upbeat Earnings - Calidi Biotherapeutics (AMEX:CLDI), Guess (NYSE:GES)

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 200 points on Wednesday.

The Dow traded down 0.07% to 44,891.07 while the NASDAQ fell 1% to 21,101.73. The S&P 500 also fell, dropping, 0.47% to 6,381.22.

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Leading and Lagging Sectors

Consumer staples shares jumped by 1.1% on Wednesday.

In trading on Wednesday, information technology stocks fell by 1.8%.

Top Headline

Lowe's Companies, Inc. LOW reported better-than-expected earnings for the second quarter.

Adjusted diluted EPS rose 5.6% to $4.33 from $4.10, topping analyst estimates of $4.24. Quarterly sales reached $23.96 billion, compared with $23.59 billion a year earlier, and came in slightly above Wall Street's estimate of $23.96 billion. Comparable sales increased 1.1%.

Lowe's updated its fiscal 2025 guidance to reflect the ADG acquisition. It now expects total sales of $84.5 billion to $85.5 billion, raised from $83.5 billion to $84.5 billion, and ahead of analyst estimates of $84.28 billion.

Equities Trading UP
           

NovaBay Pharmaceuticals, Inc. NBY shares shot up 68% to $1.0101 after the company announced it entered into a $6 million securities purchase agreement with a private investor. Shares of Shineco, Inc. SISI got a boost, surging 30% to $6.42 after the company unveiled its on-chain cell asset tokenization platform. Guess?, Inc. GES shares were also up, gaining 26% to $16.76 amid the announcement that the company will go private in a $1.4 billion deal with Authentic Brands.

Equities Trading DOWN

enVVeno Medical Corporation NVNO shares dropped 72% to $1.19 after the company announced the FDA has not approved its VenoValve PMA submission. Shares of Calidi Biotherapeutics, Inc. CLDI were down 43% to $1.72. Calidi Biotherapeutics announced the pricing of $6 million underwritten public offering. James Hardie Industries plc JHX was down, falling 35% to $18.59 following worse-than-expected quarterly financial results.

Commodities

In commodity news, oil traded up 1.2% to $63.10 while gold traded up 0.8% at $3,384.80.

Silver traded up 1.2% to $37.770 on Wednesday, while copper rose 0.3% to $4.4340.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.27%, while Spain's IBEX 35 Index fell 0.08%. London's FTSE 100 rose 0.87%, Germany's DAX 40 fell 0.50% and France's CAC 40 rose 0.16% during the session.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 1.51%, Hong Kong's Hang Seng gaining 0.17%, China's Shanghai Composite surging 1.04% and India's BSE Sensex gaining 0.26%.

Economics

The volume of mortgage applications in the U.S. fell by 1.4% from the previous week in the second week of August.

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Loading... Loading... CLDI Calidi Biotherapeutics Inc $1.69 -43.7%

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Price Trend

Short Medium Long Overview GES Guess? Inc $16.79 25.9% JHX James Hardie Industries PLC $18.52 -34.9% LOW Lowe's Companies Inc $258.05 0.66% NBY NovaBay Pharmaceuticals Inc $1.04 73.3% NVNO enVVeno Medical Corp $1.22 -70.9% SISI Shineco Inc $6.53 31.8% Market News and Data brought to you by Benzinga APIs

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Posted In: Earnings Equities News Eurozone Commodities Intraday Update Markets Trading Ideas Mid Day Market Update