U.S. Stocks Mixed; Verizon Posts Upbeat Sales
U.S. stocks traded mixed this morning, with the Dow Jones index falling over 50 points on Friday.
Following the market opening Friday, the Dow traded down 0.14% to 44,496.54 while the NASDAQ rose 0.05% to 20,063.40. The S&P 500 also rose, gaining, 0.02% to 6,119.92.
Check This Out: Top 3 Materials Stocks That May Fall Off A Cliff In January
Leading and Lagging Sectors
Energy shares surged by 0.9% on Friday.
In trading on Friday, information technology shares fell by 0.6%.
Top Headline
Verizon Communications Inc (NYSE:VZ) reported better-than-expected fiscal fourth-quarter sales results on Friday.
Its revenue growth was 1.6% year-over-year reaching $35.70 billion, topping the analyst consensus estimate of $35.32 billion. Adjusted EPS of $1.10 was in line with the analyst consensus estimate.
Verizon added ~1 million postpaid mobile and broadband subscribers in the quarter, marking its best quarterly result in more than a decade.
Equities Trading UP
- Allurion Technologies Inc. (NASDAQ:ALUR) shares shot up 171% to $10.01 after the company announced plans to raise approximately $7.4 million of gross proceeds in offering priced at-the-market.
- Shares of Nvni Group Limited (NASDAQ:NVNI)got a boost, surging 98% to $2.9501 after the company announced it regained Nasdaq compliance regarding the minimum bid pricing list requirement.
- PMGC Holdings Inc. (NASDAQ:ELAB) shares were also up, gaining 77% to $3.5100 after the company announced its Northstrive Biosciences subsidiary will present at a symposium on anti-obesity treatments.
Equities Trading DOWN
- U Power Limited (NASDAQ:UCAR) shares dropped 28% to $5.75 after the company announced the pricing of $5 million registered direct offering.
- Shares of Hyzon Motors Inc. (NASDAQ:HYZN) were down 27% to $0.5599.
- Diginex Limited (NASDAQ:DGNX) was down, falling 48% to $6.64. Diginex announced the closing of $9.2 million initial public offering.
Commodities
In commodity news, oil traded up 0.5% to $75.00 while gold traded up 0.7% at $2,784.10.
Silver traded up 1.5% to $31.290 on Friday, while copper fell 0.2% to $4.3215.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 gained 0.2%, Germany’s DAX 40 fell 0.1% and France’s CAC 40 gained 0.5%. Spain’s IBEX 35 Index fell 0.3%, while London’s FTSE 100 fell 0.5%.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan’s Nikkei 225 falling 0.07%, China’s Shanghai Composite Index gaining 0.70%, Hong Kong’s Hang Seng Index gaining 1.86% and India’s BSE Sensex falling 0.43%.
Economics
- The S&P Global services PMI declined to 52.8 in January from 56.8 in the previous month, compared to market expectations of 56.5.
- The S&P Global manufacturing PMI rose to 50.1 in January versus 49.4 in December, versus market estimates of 49.7
Now Read This:
