VERA - Crude Oil Rises 2%; Tesla Shares Plunge After Downbeat Results | Benzinga
U.S. stocks traded slightly higher midway through trading, with the Nasdaq Composite gaining around 0.2% on Thursday.
The Dow traded up 0.06% to 37,829.32 while the NASDAQ rose 0.22% to 15,515.62. The S&P 500 also rose, gaining, 0.26% to 4,881.28.
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Leading and Lagging Sectors
Communication services shares rose by 1.5% on Thursday.
In trading on Thursday, consumer discretionary shares fell by 1.4%.
Top Headline
Tesla, Inc. (NASDAQ: TSLA) shares dipped more than 12% on Thursday after the company reported worse-than-expected fourth-quarter financial results.
Tesla reported fourth-quarter revenue of $25.17 billion, which was up 3% year-over-year. The revenue missed a Street consensus estimate of $25.62 billion, according to data from Benzinga Pro. The company reported earnings per share of 71 cents, which missed a Street consensus estimate of 74 cents per share.
Equities Trading UP
Vera Therapeutics, Inc. (NASDAQ: VERA) shares shot up 40% to $23.87 after the company announced 72-week data from the OLE period of its Phase 2b ORIGIN clinical trial. Also, Oppenheimer initiated coverage on the stock with an Outperform rating and announced a $26 price target.
Shares of Processa Pharmaceuticals, Inc. (NASDAQ: PCSA) got a boost, ...