Crude Oil Down 2%; Ciena Posts Upbeat Earnings
U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling more than 100 points on Thursday.
The Dow traded up 1.34% to 48,703.91 while the NASDAQ fell 0.57% to 23,519.07. The S&P 500 also rose, gaining, 0.01% to 6,886.94.
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Leading and Lagging Sectors
Materials shares jumped by 2.3% on Thursday.
In trading on Thursday, information technology stocks fell by 1.1%.
Top Headline
Ciena Corp (NYSE:CIEN) reported better-than-expected fourth-quarter results and issued upbeat first-quarter sales guidance.
The company reported a quarterly revenue growth of 20.3% year-on-year to $1.35 billion, beating the analyst consensus estimate of $1.29 billion. The American telecom networking equipment and software services supplier reported adjusted EPS of 91 cents, beating the analyst consensus estimate of 77 cents.
Equities Trading UP
- Black Titan Corp (NASDAQ:BTTC) shares shot up 73% to $5.73 after the company unveiled its Digital Asset Treasury Plus framework and launched Pillar 1 focused on utility-driven digital asset deployment and cash-flow potential.
- Shares of Diamond Hill Investment Group Inc (NASDAQ:DHIL) got a boost, surging 45% to $170.44 after First Eagle agreed to acquire the company for $175 per share in a $473 million all-cash deal.
- Planet Labs PBC (NYSE:PL) shares were also up, gaining 34% to $17.40 after the company reported better-than-expected third-quarter sales results and issued fourth-quarter sales guidance above estimates. Also, the company raised its FY26 sales guidance above estimates.
Equities Trading DOWN
- Rezolute Inc (NASDAQ:RZLT) shares dropped 88% to $1.26 after the company said its Phase 3 sunRIZE study of Ersodetug in congenital hyperinsulinism did not meet the primary or key secondary endpoint.
- Shares of C3is Inc (NASDAQ:CISS) were down 81% to $0.33 after the company announced the pricing of its $9 million offering of 7.5 million units at $1.20 per unit.
- Oracle Corp (NYSE:ORCL) was down, falling 13% to $194.31 after the company posted mixed second-quarter financial results for fiscal 2026.
Commodities
In commodity news, oil traded down 2% to $57.27 while gold traded up 2% at $4,310.90.
Silver traded up 5.36% to $64.440 on Thursday, while copper rose 3% to $5.5125.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.55%, while Spain's IBEX 35 Index rose 0.72%. London's FTSE 100 rose 0.49%, Germany's DAX 40 rose 0.68% and France's CAC 40 surged 0.79% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Thursday, with Japan's Nikkei falling 0.90%, Hong Kong's Hang Seng falling 0.04%, China's Shanghai Composite declining 0.70% and India's BSE Sensex gaining 0.51%.
Economics
- U.S. initial jobless claims rose by 44,000 from the previous week to 236,000 in the week ending Dec. 6, compared to market expectations of 220,000.
- The U.S. reported a trade deficit of $52.8 billion in September, versus a $59.3 billion gap in the previous month and compared to market estimates of a $63.3 billion gap.
- U.S. wholesale inventories increased by 0.5% to around $911.5 billion in September following a revised 0.1% gain in August.
- U.S. natural-gas stocks fell 177 billion cubic feet during the week that ended Dec. 5.
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