ULBI - Crude Oil Moves Higher; Bristol Myers Squibb Shares Fall After Q1 Results | Benzinga
U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite falling by around 100 points on Thursday.
The Dow traded down 1.20% to 37,998.27 while the NASDAQ fell 0.85% to 15,578.58. The S&P 500 also fell, dropping, 0.70% to 5,035.88.
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Leading and Lagging Sectors
Materials shares rose by 0.7% on Thursday.
In trading on Thursday, communication services shares dipped by 4%.
Top Headline
Shares of Bristol Myers Squibb & Co (NYSE:BMY) fell more than 8% during Thursday's session after the company swung to a loss in the first quarter.
The company posted first-quarter revenues of $11.9 billion, beating the consensus of $11.5 billion, an increase of 5% year-over-year. The company reported an adjusted EPS loss of $(4.40), compared to an income of $2.05 a year ago, beating the consensus loss of $(4.44).
Bristol Myers Squibb revised 2024 adjusted EPS guidance from $7.10-$7.40 to $0.40-$0.70 versus consensus of $0.66, reflecting the impact of recent transactions.
Equities Trading UP