TMCI - Dow Gains 150 Points; Emerson Electric Earnings Top Views | Benzinga
U.S. stocks traded mixed toward the end of trading, with the Dow Jones index gaining over 150 points on Wednesday.
The Dow traded up 0.41% to 39,042.68 while the NASDAQ fell 0.17% to 16,304.23. The S&P 500 also rose, gaining, 0.01% to 5,187.80.
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Leading and Lagging Sectors
Utilities shares rose by 0.8% on Wednesday.
In trading on Wednesday, real estate shares fell by 0.9%.
Top Headline
Emerson Electric Co (NYSE:EMR) posted better-than-expected results for its second quarter.
Emerson Electric reported second-quarter FY24 net sales growth of 17% Y/Y to $4.38 billion, beating the consensus of $4.29 billion. Adjusted EPS improved 25% Y/Y to $1.36, beating the consensus of $1.25.
For FY24, Emerson Electric revised its net sales growth outlook to 15% – 16% (prior: 14.5% -17%), with underlying sales growth to 5.5%-6.5% (from 4.5%-6.5% earlier) and adjusted EPS to $5.40-$5.50 (from $5.30-$5.45) vs. consensus $5.39.
Equities Trading UP