TSVT - Crude Oil Down 2%; Alphabet Shares Fall After Q4 Results | Benzinga
U.S. stocks traded mostly lower midway through trading, with the Nasdaq Composite falling more than 200 points on Wednesday.
The Dow traded up 0.08% to 38,497.13 while the NASDAQ fell 1.41% to 15,291.02. The S&P 500 also fell, dropping, 0.81% to 4,885.29.
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Leading and Lagging Sectors
Real estate shares rose by 1% on Wednesday.
In trading on Wednesday, communication services shares fell by 3.1%.
Top Headline
Shares of Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) fell more than 6% on Wednesday following fourth-quarter results.
Alphabet posted better-than-expected earnings results for its fourth quarter on Tuesday. However, Google’s advertising sales came in short of market estimates.
Alphabet’s fourth-quarter revenue increased 13% year-over-year to $86.31 billion, which beat the consensus estimate of $85.33 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $1.64 per share, which beat analyst estimates of $1.59 per share.
Equities Trading UP
2seventy bio, Inc. (NASDAQ: TSVT) shares shot up 27% to $5.08. Leerink Partners analyst Daina Graybosch upgraded 2seventy bio from Market Perform to Outperform and raised the price target from $5 to $18. 2seventy Bio said it will focus exclusively on commercialization and development of Abecma and sell its R&D pipeline to Regeneron.
Shares of Minim, Inc. (NASDAQ: MINM) got a boost, surging 55% ...