Dow Surges Over 100 Points; Domino's Pizza Posts Upbeat Earnings

ADDEX THERAPEUTICS LIMITED SPON ADS EACH REP 6 ORD SHS +10.76%
Collective Audience, Inc. - Common Stock 0.00%
Clever Leaves Holdings Inc Ordinary Shares 0.00%
Deciphera Pharmaceuticals Delist
Domino's Pizza, Inc. +0.28%

ADDEX THERAPEUTICS LIMITED SPON ADS EACH REP 6 ORD SHS

ADXN

10.34

+10.76%

Collective Audience, Inc. - Common Stock

CAUD

Clever Leaves Holdings Inc Ordinary Shares

CLVR

3.00

0.00%

Deciphera Pharmaceuticals

DCPH

25.59

Delist

Domino's Pizza, Inc.

DPZ

411.15

+0.28%

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 100 points on Monday.

Following the market opening Monday, the Dow traded up 0.36% to 38,375.82 while the NASDAQ rose 0.57% to 16,018.15. The S&P 500 also rose, gaining, 0.45% to 5,123.12.

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Leading and Lagging Sectors

Consumer discretionary shares rose by 1.7% on Monday.

In trading on Monday, communication services shares fell by 0.9%.

Top Headline

Domino's Pizza Inc (NYSE:DPZ) reported better-than-expected first-quarter earnings.

Domino's Pizza reported first-quarter FY24 sales growth of 6% year-on-year to $1.085 billion, beating the analyst consensus estimate of $1.079 billion. EPS of $3.58 beat the analyst consensus estimate of $3.42.

Global retail sales increased 7.3%, excluding the impact of foreign currency. Same-store sales in the U.S. grew 5.6%, while International same-store sales (excluding foreign currency impact) increased 0.9%.

Equities Trading UP
                   

  • Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH) shares shot up 72% to $25.26 after the company announced it will be acquired by ONO Pharmaceutical for $25.60 per share in cash.
  • Shares of Collective Audience, Inc.  (NASDAQ:CAUD) got a boost, surging 75% to $0.69 after the company announced a strategic partnership with Insticator.
  • Koninklijke Philips N.V.  (NYSE:PHG) shares were also up, gaining 37% to $28.82 after the company announced $1.1 billion settlement for Respironics personal injury and medical monitoring litigation. The company also reported better than expected first-quarter earnings and reaffirmed guidance.

Equities Trading DOWN

  • Clever Leaves Holdings Inc. (NASDAQ:CLVR) shares dropped 60% to $1.65 after the company announced that it will voluntarily delist its common shares from the Nasdaq and deregister its Securities to terminate and suspend its reporting obligations.
  • Shares of Addex Therapeutics Ltd (NASDAQ:ADXN) were down 50% to $7.98 after the company announced the Phase 2 ADX71149 epilepsy study did not achieve statistical significance for the primary endpoint of time for patients to reach baseline seizure count when ADX71149 was added to standard of care.
  • Assure Holdings Corp. (NASDAQ:IONM) was down, falling 39% to $0.42 after the company said the unaudited financial statements for the quarterly periods ended March 31, 2023, June 30, 2023 and Sept 30, 2023 should no longer be relied on.

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Commodities

In commodity news, oil traded down 0.1% to $83.78 while gold traded up 0.1% at $2,348.30.

Silver traded up 0.2% to $27.295 on Monday, while copper rose 1% to $4.6175.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.3%, London's FTSE 100 rose 0.4% while Spain's IBEX 35 Index fell 0.8% The German DAX fell 0.1% French CAC 40 rose 0.1% while Italy's FTSE MIB Index fell 0.1%.

The services confidence indicator in the Eurozone fell by 0.4 points to 6.0 in April, while industry confidence indicator declined to -10.5 in April versus a revised level of -8.9 in the prior month. The consumer confidence indicator in the Eurozone increased by 0.2 points to -14.7 in April.

The seasonally adjusted industry confidence indicator in Spain increased by 0.8 points from the prior month to a reading of -3.9 in April. Spain’s consumer price inflation rate rose to 3.3% year-over-year in April.

Asia Pacific Markets

Asian markets closed higher on Monday, with Hong Kong's Hang Seng Index jumping 0.54%, China's Shanghai Composite climbing 0.79% and India's S&P BSE Sensex gaining 1.28%.

Profits earned by Chinese industrial firms climbed 4.3% year-over-year to CNY 1,505.5305 billion during the first three months of the year, compared to a 10.2% gain in the earlier period.

Economics

The Dallas Fed Manufacturing index will be released at 10:30 a.m. ET.

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