VVOS - Dow Jumps Over 100 Points; Hormel Foods Earnings Miss Estimates | Benzinga
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining over 100 points on Wednesday.
The Dow traded up 0.42% to 35,564.02 while the NASDAQ rose 0.17% to 14,305.43. The S&P 500 also rose, gaining, 0.26% to 4,566.65.
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Leading and Lagging Sectors
Real estate shares rose by 1.2% on Wednesday.
In trading on Wednesday, communication services shares fell by 0.8%.
Top Headline
Hormel Foods Corp (NYSE: HRL) reported weaker-than-expected earnings for its fourth quarter on Wednesday.
The company posted a fourth-quarter FY23 sales decline of 2.6% year-on-year to $3.198 billion, missing the analyst consensus estimate of $3.264 billion. Adjusted EPS of $0.42 missed the consensus estimate of $0.44.
Hormel sees FY24 sales of $12.2 billion - $12.5 billion versus the consensus of $12.28 billion. The company sees FY24 adjusted EPS of $1.51 - $1.65 against the Street view of $1.68.
Equities Trading UP
Vivos Therapeutics, Inc. (NASDAQ: VVOS) shares shot up 301% to $17.66. Vivos Therapeutics received FDA 510(k) clearance for treating severe obstructive sleep apnea (OSA) in adults using the Vivos' removable CARE (Complete Airway Repositioning and/or Expansion) oral appliances.
Shares of Rover Group, Inc. (NASDAQ: ROVR) got a boost, shooting 29% to $10.93 after the company announced it agreed to be acquired by Blackstone in a ...