US Stocks Edge Lower; Cisco Earnings Top Views

Benzinga
2024-11-14

U.S. stocks traded slightly lower this morning, with the Dow Jones index falling by 0.1% on Thursday.

Following the market opening, the Dow traded down 0.09% to 43,917.98 while the NASDAQ fell 0.12% to 19,208.13. The S&P 500 also fell, dropping, 0.15% to 5,976.46.

Check This Out: Jim Cramer Recommends Microsoft, Praises American Water Works For Being ‘Consistent’

Leading and Lagging SectorsEnergy shares rose by 0.1% on Thursday.

In trading on Thursday, real estate shares fell by 0.6%.

Top Headline

Cisco Systems Inc. (NASDAQ:CSCO) reported better-than-expected results for its first quarter and raised its full-year 2025 guidance on Wednesday.

The company reported first-quarter revenue of $13.84 billion, beating the consensus estimate of $13.77 billion. The networking equipment maker reported adjusted earnings of 91 cents per share, beating analyst estimates of 87 cents per share.

Equities Trading UP                       

  • AgEagle Aerial Systems, Inc. (NYSE:UAVS) shares shot up 159% to $4.2101 after the company announced 17 new purchase orders for its eBee TAC drones from U.S. defense and security customers.
  • Shares of Elevai Labs Inc. (NASDAQ:ELAB) got a boost, surging 58% to $0.0389 after the company announced second-quarter results.
  • Gaxos.ai Inc. (NASDAQ:GXAI) shares were also up, gaining 47% to $2.12 after the company’s board approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset.

Equities Trading DOWN

  • Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares dropped 48% to $5.55 after the company reported data from its Phase 1b study evaluating NXP800..
  • Shares of Sow Good Inc. (NASDAQ:SOWG) were down 41% to $5.82 after the company reported worse-than-expected quarterly financial results.
  • Vislink Technologies, Inc. (NASDAQ:VISL) was down, falling 43% to $3.75 after the company reported worse-than-expected third-quarter financial results.

CommoditiesIn commodity news, oil traded up 0.9% to $69.05 while gold traded down 0.7% at $2,568.70.

Silver traded down 0.9% to $30.400 on Thursday, while copper fell 0.1% to $4.0830.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.2%, Germany's DAX climbed 1.5% and France's CAC 40 gained 1.4%. Spain's IBEX 35 Index gained 1.2%, while London's FTSE 100 rose 0.6%.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 0.48%, Hong Kong's Hang Seng Index falling 1.96%, China's Shanghai Composite Index dipping 1.73% and India's BSE Sensex falling 0.14%.

Economics

  • U.S. initial jobless claims declined by 4,000 from the previous week to 217,000 in the week ending Nov. 9, compared to market estimates of 223,000.
  • U.S. producer prices rose 0.2% month-over-month in October compared to a revised 0.1% gain in September and in-line with market expectations.

Now Read This:

  • Nvidia To Rally Around 23%? Here Are 10 Top Analyst Forecasts For Thursday

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