U.S. stocks traded mixed on Tuesday, with the Dow Jones Industrial Average falling by approximately 0.2%. The Dow closed at 41,175.13, while the NASDAQ Composite Index dipped slightly by 0.03% to 17,720.68. The S&P 500 also saw a minor decline, dropping 0.01% to 5,616.66.
Information technology shares showed strength, climbing by 0.5% on the day. Conversely, energy shares experienced a decline of 0.6%.
Hain Celestial Group, Inc. (HAIN) reported better-than-expected quarterly results. The company announced adjusted earnings per share of 13 cents for the fourth quarter, exceeding analyst estimates of 8 cents. However, quarterly revenues of $418.80 million fell short of the expected $421.2 million.
Several stocks experienced significant price fluctuations driven by company announcements. Ensysce Biosciences, Inc. (ENSC) shares surged by 43% to $0.6190 after the company received a $14 million multi-year grant from the National Institutes of Health (NIH) for the continued development of its PF614-MPAR, an abuse-deterrent opioid with overdose protection.
Addex Therapeutics Ltd (ADXN) shares jumped 39% to $10.40 following the company’s announcement of clinical candidates from its research collaboration with Indivior, focusing on GABAB positive allosteric modulators. The company is eligible for up to $330 million in milestones and royalties.
VOXX International Corporation (VOXX) shares gained 70% to $4.8450 after the company announced a strategic alternatives process aimed at maximizing valuation.
On the downside, Altisource Asset Management Corporation (AAMC) shares plummeted by 48% to $1.2250 after the company announced its intention to voluntarily delist and deregister its common stock from the NYSE American LLC.
COSCIENS Biopharma Inc. (CSCI) shares dropped 26% to $4.3350 following the announcement of results from its Phase 3 DETECT-trial of AEZS-130-P02.
American Woodmark Corporation (AMWD) shares declined by 10% to $89.93 after the company reported worse-than-expected first-quarter financial results and projected a low single-digit decline in FY25 sales.
In commodity markets, oil prices decreased by 1.8% to $76.02, while gold prices dropped by 0.2% to $2,550.90. Silver prices also fell 0.1% to $29.97, while copper prices rose 0.6% to $4.3085.
European shares traded mostly higher on Tuesday. The eurozone’s STOXX 600 gained 0.17%, Germany’s DAX rose 0.40%, and France’s CAC 40 fell 0.17%. Spain’s IBEX 35 Index increased by 0.40%, while London’s FTSE 100 rose 0.28%.
Germany’s economy contracted by 0.1% quarter-over-quarter in the second quarter, following a 0.2% growth in the first quarter. The GfK Consumer Climate Indicator for Germany declined to a reading of -22.0 heading into September, compared to a revised -18.6 in the previous period.
Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 0.47%, Hong Kong’s Hang Seng Index rising 0.43%, and India’s BSE Sensex increasing by 0.02%. China’s Shanghai Composite Index fell by 0.24%. Hong Kong’s trade deficit narrowed to $21.8 billion in July, compared to a $30 billion gap in the same month last year, driven by an increase in exports exceeding imports.
In the U.S., the S&P CoreLogic Case-Shiller home price index climbed by 6.5% year-over-year in June, compared to a revised 6.9% rise in the previous month. The FHFA house price index fell 0.1% in June, against market expectations for a 0.2% gain.
