U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 200 points on Monday.
The Dow traded down 0.27% to 40,004.11 while the NASDAQ fell 1.19% to 17,175.43. The S&P 500 also fell, dropping, 0.72% to 5,485.36.
Leading and Lagging Sectors
Financial shares jumped by 0.6% on Monday.
In trading on Monday, information technology fell by 0.6%.
Top Headline
Roper Technologies, Inc (NASDAQ:ROP) reported better-than-expected earnings for its first quarter and raised its forecast.
The company posted first-quarter adjusted earnings per share of $4.78, beating the street view of $4.74. Quarterly sales of $1.88 billion outpaced the analyst consensus estimate of $1.82 billion.
Roper Technologies expects fiscal 2025 adjusted earnings per share of $19.80-$20.05 (compared to a previous outlook of $19.75-$20.00), versus the $19.92 estimate. It increased its full-year total revenue growth outlook to ~12% or $7.88 billion (compared to a previous outlook of 10%+ or $7.74 billion) and an analyst estimate of $7.74 billion. It reiterated organic revenue growth of +6-7%.
Equities Trading UP
- Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) shares shot up 46% to $2.2999. Galmed signed a term sheet for the development of novel semaglutide sublingual formulation.
- Shares of CG Oncology, Inc. (NASDAQ:CGON)got a boost, surging 31% to $29.21 after the company announced that cretostimogene grenadenorepvec monotherapy data was presented at the American Urological Association Annual Meeting.
- Plug Power Inc. (NASDAQ:PLUG) shares were also up, gaining 42% to $1.15 after the company signed a secured credit facility with Yorkville Advisors. The company also reported preliminary first-quarter results.
Equities Trading DOWN
- Spruce Biosciences, Inc. (NASDAQ:SPRB) shares dropped 28% to $0.0935 after the company announced it approved a plan to implement a workforce reduction.
- Shares of Groupon, Inc. (NASDAQ:GRPN) were down 15% to $16.86.
- Protara Therapeutics, Inc. (NASDAQ:TARA) was down, falling 19% to $3.4899 as the company announced interim results highlighting durable clinical responses with TARA-002 In high-risk NMIBC.
Commodities
In commodity news, oil traded down 2% to $61.78 while gold traded up 0.6% at $3,316.80.
Silver traded down 0.5% to $32.845 on Monday, while copper rose 0.1% to $4.90.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.74%, Germany's DAX 40 gained 0.67% and France's CAC 40 gained 0.87%. Spain's IBEX 35 Index gained 0.81%, while London's FTSE 100 rose 0.30%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei 225 surging 0.38%, China's Shanghai Composite falling 0.20%, Hong Kong's Hang Seng Index falling 0.04% and India's BSE Sensex gaining 1.27%.
Economics
The Dallas Fed manufacturing index will be released today.
Now Read This:
- Stride To Rally Around 10%? Here Are 10 Top Analyst Forecasts For Monday.
Photo via Shutterstock
