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Crude Oil Moves Higher; Bristol Myers Squibb Shares Fall After Q1 Results
U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite falling by around 100 points on Thursday.
The Dow traded down 1.20% to 37,998.27 while the NASDAQ fell 0.85% to 15,578.58. The S&P 500 also fell, dropping, 0.70% to 5,035.88.
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Leading and Lagging SectorsMaterials shares rose by 0.7% on Thursday.
In trading on Thursday, communication services shares dipped by 4%.
Top Headline
Shares of Bristol Myers Squibb & Co (NYSE:BMY) fell more than 8% during Thursday's session after the company swung to a loss in the first quarter.
The company posted first-quarter revenues of $11.9 billion, beating the consensus of $11.5 billion, an increase of 5% year-over-year. The company reported an adjusted EPS loss of $(4.40), compared to an income of $2.05 a year ago, beating the consensus loss of $(4.44).
Bristol Myers Squibb revised 2024 adjusted EPS guidance from $7.10-$7.40 to $0.40-$0.70 versus consensus of $0.66, reflecting the impact of recent transactions.
Equities Trading UP
Impinj, Inc. (NASDAQ:PI) shares shot up 26% to $152.87 after reporting better-than-expected first-quarter financial results.
Shares of Ultralife Corporation (NASDAQ:ULBI) got a boost, surging 21% to ...