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How major US stock indexes fared Wednesday, 11/8/2023

Published Tue, 05 Nov 2024 08:04:53 GMT

Stocks drifted to another mixed close as Wall Street continues to recalibrate following its sharp recent swings. The S&P 500 edged up 0.1% Wednesday, its third straight day of quiet trading. The Dow slipped 40 points, and the Nasdaq composite rose 0.1%. Eli Lilly jumped after getting U.S. approval for a weight-loss drug, while Warner Brothers Discovery sank after reporting a worse loss for the last quarter than expected. The 10-year Treasury yield eased, which helped to calm financial markets broadly. Crude oil prices continued to slump further and are back to where they were in July.On Wednesday:The S&P 500 rose 4.40 points, or 0.1%, to 4,382.78.The Dow Jones Industrial Average fell 40.33 points, or 0.1%, to 34,112.27.The Nasdaq composite rose 10.56 points, or 0.1%, to 13,650.41.The Russell 2000 index of smaller companies fell 19.08 points, or 1.1% to 1,714.07.For the week:The S&P 500 is up 24.44 points, or 0.6%.The Dow is up 50.95 points, or 0.1%.The Nasdaq is up 172.1...

Beyond Meat revenue falls as rising demand in Europe can’t overcome plummeting US sales

Published Tue, 05 Nov 2024 08:04:53 GMT

Beyond Meat’s revenue fell nearly 9% in the third quarter as higher sales of its plant-based meat in Europe failed to make up for plummeting demand in the U.S.Beyond Meat on Wednesday reported revenue of $75.3 million for the July-September period. That was far short of the $86.5 million Wall Street had anticipated, according to analysts polled by FactSet.Beyond Meat cut its third-quarter and full-year revenue forecast last week, saying an anticipated rebound in plant-based meat sales during the quarter didn’t occur. The company said it would cut 65 non-production jobs — about 19% of its workforce — and conduct a broader review of its operations.U.S. demand for plant-based meat has plunged this year, partly due to consumer perceptions that the products are overly processed, unhealthy and too expensive. U.S. retail dollar sales of fresh meat alternatives, like sausage and burgers, were down 21.5% this year through Oct. 8, according to Circana, a market research firm. Frozen pla...

Diodes: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 08:04:53 GMT

PLANO, Texas (AP) — PLANO, Texas (AP) — Diodes Inc. (DIOD) on Wednesday reported net income of $48.7 million in its third quarter.The Plano, Texas-based company said it had profit of $1.05 per share. Earnings, adjusted for one-time gains and costs, were $1.13 per share.The semiconductor components maker posted revenue of $404.6 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DIOD at https://www.zacks.com/ap/DIODSource

Rashford’s red card in Champions League adds to turbulent period for Man United forward

Published Tue, 05 Nov 2024 08:04:53 GMT

COPENHAGEN (AP) — Marcus Rashford’s difficult start to the season at Manchester United just got a bit tougher.The England forward was shown a straight red card in the 42nd minute of United’s match at FC Copenhagen in the Champions League on Wednesday for stamping on opponent Elias Jelert.Rashford appeared to be trying to shield the ball but landed his studs on Jelert’s left ankle. Rashford threw his hands up in disgust when the red card was brandished.United was leading 2-0 at the time of Rashford’s sending-off at Parken Stadium but went into halftime 2-2 as the visitors struggled to cope with 10 men.Rashford has scored just one goal in all competitions this season, failing to replicate his form of last season.Off the field, he was reprimanded by United manager Erik ten Hag last week for his decision to go to a nightclub for a pre-arranged birthday party hours after a 3-0 loss to Manchester City. Ten Hag said Rashford’s conduct was “unacceptable” and the player had apologized.Rashfo...

BlackRock Kelso: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 08:04:53 GMT

NEW YORK (AP) — NEW YORK (AP) — BlackRock Kelso Capital Corp. (BKCC) on Wednesday reported third-quarter profit of $10.8 million.The New York-based company said it had net income of 15 cents per share. Earnings, adjusted for investment gains, came to 13 cents per share.The closed-end investment company posted revenue of $21.3 million in the period.In the final minutes of trading on Wednesday, the company’s shares hit $3.57. A year ago, they were trading at $3.90._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BKCC at https://www.zacks.com/ap/BKCCSource

Helmerich & Payne: Fiscal Q4 Earnings Snapshot

Published Tue, 05 Nov 2024 08:04:53 GMT

TULSA, Okla. (AP) — TULSA, Okla. (AP) — Helmerich & Payne Inc. (HP) on Wednesday reported fiscal fourth-quarter earnings of $77.6 million.On a per-share basis, the Tulsa, Oklahoma-based company said it had net income of 77 cents. Earnings, adjusted for non-recurring gains, came to 69 cents per share.The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.The oil and gas well-drilling contractor posted revenue of $659.6 million in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $660 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HP at https://www.zacks.com/ap/HPSource

Minnesota Supreme Court dismisses ‘insurrection clause’ challenge, allowing Trump to remain on the 2024 primary ballot

Published Tue, 05 Nov 2024 08:04:53 GMT

MINNEAPOLIS, (AP) — Minnesota Supreme Court dismisses ‘insurrection clause’ challenge, allowing Trump to remain on the 2024 primary ballot.Source

Falcons’ Smith wants to avoid ‘musical chairs’ at QB as Heinicke prepares for second start

Published Tue, 05 Nov 2024 08:04:53 GMT

FLOWERY BRANCH, Ga. (AP) — Arthur Smith expects to provide clarity on the Atlanta Falcons’ long-term plan at quarterback soon.Just not this week.Taylor Heinicke will make his second straight start in Sunday’s game at Arizona after Desmond Ridder lost the job because of his inability to avoid turnovers. Heinicke’s mixed results in last week’s 31-28 loss to the Minnesota Vikings included 268 passing yards with one touchdown and one interception.The Falcons (4-5) have a bye following this week’s game against the Cardinals, giving Smith and his coaching staff a chance to assess the quarterback situation. For the second straight week, Smith says the commitment to start Heinicke is only for one game.Smith said Wednesday the decision is “my responsibility and what they pay me for.” He said he doesn’t want uncertainty at the position to continue through the season.“So right now, in the short term, we feel where we’re at, everything we’ve got going o...

Adma Biologics: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 08:04:53 GMT

RAMSEY, N.J. (AP) — RAMSEY, N.J. (AP) — Adma Biologics Inc. (ADMA) on Wednesday reported third-quarter net income of $2.6 million, after reporting a loss in the same period a year earlier.The Ramsey, New Jersey-based company said it had profit of 1 cent per share.The infectious disease drug developer posted revenue of $67.3 million in the period.In the final minutes of trading on Wednesday, the company’s shares hit $3.62. A year ago, they were trading at $2.61._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADMA at https://www.zacks.com/ap/ADMASource

Perjury case against former top Baltimore prosecutor heads to a federal jury

Published Tue, 05 Nov 2024 08:04:53 GMT

GREENBELT, Md. (AP) — A former top prosecutor for the city of Baltimore took advantage of the COVID-19 pandemic and lied to improperly access retirement funds, using the money to purchase two Florida vacation homes, a federal prosecutor argued Wednesday at the close of the ex-official’s trial.Marilyn Mosby, who served two terms as state’s attorney for Baltimore, declined to testify before her attorneys rested their case on the third day of her trial on perjury charges. The judge presiding over the trial said she expects jurors to begin deliberating on Thursday.Mosby’s 2022 indictment accuses her of improperly accessing funds from a retirement savings account by falsely claiming that the pandemic harmed a travel-oriented business that she had formed. She used the withdrawals as down payments to buy a home in Kissimmee, Florida, and a condominium in Long Boat Key, Florida.“Telling the truth matters. It matters for all of us,” Assistant U.S. Attorney Aaron Zelinsky told jur...