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Crude Oil Down 2%; Enzo Biochem Shares Spike Higher

Benzinga ·  Mar 17, 2023 12:44

U.S. stocks traded lower midway through trading, with the Dow Jones dropping more than 300 points on Friday.

The Dow traded down 1.07% to 31,899.93 while the NASDAQ fell 0.68% to 11,638.13. The S&P 500, also fell, dropping, 0.94% to 3,923.10.

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Leading and Lagging Sectors

  • Information technology shares fell by just 0.02% on Friday. Meanwhile, top gainers in the sector included WM Technology, Inc. (NASDAQ:MAPS), up 14%, and Riot Platforms, Inc. (NASDAQ:RIOT), up 11%.
  • In trading on Thursday, financials shares dipped by 2.8%.

Top Headline

Industrial production came in unchanged for February, following a 0.3% increase in January.

Equities Trading UP

  • Enzo Biochem, Inc. (NYSE:ENZ) shares shot up 86% to $2.21 after the company announced it will sell its clinical laboratory to Labcorp.
  • Shares of Histogen Inc. (NASDAQ:HSTO) got a boost, shooting 58% to $1.37 after the company announced issuance of a US patent covering CTS-2090 methods of use.
  • Traeger, Inc. (NYSE:COOK) shares were also up, gaining 24% to $3.74 after the company announced better-than-expected Q4 results.

Equities Trading DOWN

  • Lifecore Biomedical, Inc. (NASDAQ:LFCR) shares tumbled 64% to $1.82 after the company reported worse-than-expected Q2 financial results.
  • Shares of Diebold Nixdorf, Incorporated (NYSE:DBD) were down 53% to $1.0887. Wedbush reiterated Diebold Nixdorf with an Outperform and maintained a $5 price target.
  • Acer Therapeutics Inc. (NASDAQ:ACER) was down, falling 47% to $0.8201 after the company announced its Phase 2a trial data showing ACER-801 was safe and well-tolerated but did not achieve statistical significance when evaluating the ability to decrease the frequency or severity of hot flashes in postmenopausal women.

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Commodities

In commodity news, oil traded down 2% to $66.97 while gold traded up 2.1% at $1,963.50.

Silver traded up 2.8% to $22.305 on Thursday while copper rose 0.9% to $3.8980.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 1.2%, London's FTSE 100 fell 0.93% while Spain's IBEX 35 Index fell 1.99%. The German DAX dropped 1.31%, French CAC 40 fell 1.41% and Italy's FTSE MIB Index fell 1.62%.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan's Nikkei 225 gaining 1.2%, Hong Kong's Hang Seng Index gaining 1.64% and China's Shanghai Composite Index gaining 0.73%. India's S&P BSE Sensex rose 0.6%.

Economics

  • The University of Michigan consumer sentiment fell to 63.4 in March from 67 in the previous month.
  • Industrial production came in unchanged for February, following a 0.3% increase in January.

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