SOBR - Dow Surges 200 Points; Designer Brands Shares Plunge Following Q1 Earnings | Benzinga
U.S. stocks turned higher toward the end of trading, with the Dow Jones gaining around 200 points on Tuesday.
The Dow traded up 0.53% to 38,774.55 while the NASDAQ rose 0.29% to 16,877.87. The S&P 500 also rose, gaining, 0.25% to 5,296.54.
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Leading and Lagging Sectors
Real estate shares rose by 1.3% on Tuesday.
In trading on Tuesday, materials shares fell by 1.4%.
Top Headline
Shares of Designer Brands Inc (NYSE:DBI) dipped more than 22% on Tuesday after the company reported worse-than-expected first-quarter earnings.
The company reported first-quarter FY24 sales growth of 0.6% year-on-year to $746.596 million, beating the analyst consensus estimate of $741.630 million. Total comparable sales decreased by 2.5%. Adjusted EPS of 8 cents missed the analyst consensus estimate of 21 cents.
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