BNZI - Crude Oil Rises Over 2%; Constellation Brands Posts Downbeat Sales | Benzinga
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining around 50 points on Friday.
The Dow traded up 0.13% to 37,490.36 while the NASDAQ rose 0.25% to 14,546.77. The S&P 500 also rose, gaining, 0.26% to 4,701.05.
Check This Out: Cramer Says This 'Inexpensive' Stock Is 'Doing Some Great Things With Aerospace'
Leading and Lagging Sectors
Communication services shares jumped by 0.3% on Friday.
In trading on Friday, consumer staples shares fell by 0.8%.
Top Headline
Constellation Brands Inc (NYSE: STZ) posted upbeat earnings for its third quarter, while sales missed estimates.
Constellation Brands reported third-quarter FY24 net sales growth of 1.4% year-on-year to $2.47 billion, missing the analyst consensus of $2.54 billion. Comparable EPS of $3.19 beat the consensus estimate of $3.00.
Constellation cut FY24 reported EPS outlook from $9.60 - $9.80 to $9.15 - $9.35. The company raised FY24 operating cash flow forecast from $2.4 billion - $2.6 billion to $2.6 billion - $2.8 billion and free cash flow outlook from $1.2 billion - $1.3 billion to $1.4 billion - $1.5 billion.
Equities Trading UP
AxoGen, Inc. (NASDAQ: AXGN) shares shot up 24% to $8.40 as the company reported preliminary unaudited revenue for fourth quarter and full-year 2023. The company also said President and Chief Executive Officer Karen Zaderej plans to retire from the Company by Jan. 2025.
Shares of Banzai International, Inc. (NASDAQ: BNZI) got a boost, surging 66% to $2.76. Banzai International signed a non-binding letter of intent to acquire ...