US Stocks Edge Lower; Cisco Earnings Top Views
U.S. stocks traded slightly lower this morning, with the Dow Jones index falling by 0.1% on Thursday.
Following the market opening, the Dow traded down 0.09% to 43,917.98 while the NASDAQ fell 0.12% to 19,208.13. The S&P 500 also fell, dropping, 0.15% to 5,976.46.
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Leading and Lagging Sectors
Energy shares rose by 0.1% on Thursday.
In trading on Thursday, real estate shares fell by 0.6%.
Top Headline
Cisco Systems Inc. CSCO reported better-than-expected results for its first quarter and raised its full-year 2025 guidance on Wednesday.
The company reported first-quarter revenue of $13.84 billion, beating the consensus estimate of $13.77 billion. The networking equipment maker reported adjusted earnings of 91 cents per share, beating analyst estimates of 87 cents per share.
Equities Trading UP
- AgEagle Aerial Systems, Inc. UAVS shares shot up 159% to $4.2101 after the company announced 17 new purchase orders for its eBee TAC drones from U.S. defense and security customers.
- Shares of Elevai Labs Inc. ELAB got a boost, surging 58% to $0.0389 after the company announced second-quarter results.
- Gaxos.ai Inc. GXAI shares were also up, gaining 47% to $2.12 after the company’s board approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset.
Equities Trading DOWN
- Nuvectis Pharma, Inc. NVCT shares dropped 48% to $5.55 after the company reported data from its Phase 1b study evaluating NXP800..
- Shares of Sow Good Inc. SOWG were down 41% to $5.82 after the company reported worse-than-expected quarterly financial results.
- Vislink Technologies, Inc. VISL was down, falling 43% to $3.75 after the company reported worse-than-expected third-quarter financial results.
Commodities
In commodity news, oil traded up 0.9% to $69.05 while gold traded down 0.7% at $2,568.70.
Silver traded down 0.9% to $30.400 on Thursday, while copper fell 0.1% to $4.0830.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 1.2%, Germany’s DAX climbed 1.5% and France’s CAC 40 gained 1.4%. Spain’s IBEX 35 Index gained 1.2%, while London’s FTSE 100 rose 0.6%.
Asia Pacific Markets
Asian markets closed lower on Thursday, with Japan’s Nikkei 225 falling 0.48%, Hong Kong’s Hang Seng Index falling 1.96%, China’s Shanghai Composite Index dipping 1.73% and India’s BSE Sensex falling 0.14%.
Economics
- U.S. initial jobless claims declined by 4,000 from the previous week to 217,000 in the week ending Nov. 9, compared to market estimates of 223,000.
- U.S. producer prices rose 0.2% month-over-month in October compared to a revised 0.1% gain in September and in-line with market expectations.
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