LE - Dow Tumbles Over 100 Points; Acer Therapeutics Shares Spike Higher | Benzinga
U.S. stocks traded mixed toward the end of trading, with the Dow Jones falling more than 100 points on Thursday.
The Dow traded down 0.36% to 34,763.44 while the NASDAQ rose 0.26% to 14,056.44. The S&P 500, also fell, dropping, 0.03% to 4,513.47.
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Leading and Lagging Sectors
Consumer discretionary shares jumped by 0.7% on Thursday.
In trading on Thursday, health care shares fell by 0.9%.
Top Headline
Dollar General Corp (NYSE: DG) reported second-quarter FY23 sales growth of 3.9% year-on-year to $9.80 billion, missing the analyst consensus of $9.92 billion. EPS of $2.13 missed the analyst consensus of $2.46.
Dollar General lowered its FY23 net sales growth outlook from 3.5%-5% to 1.3% - 3.3%. The company lowered FY23 EPS guidance from $9.83 - $10.68 to $7.10 - $8.30 versus an estimate of $10.01.
Equities Trading UP
Acer Therapeutics Inc. (NASDAQ: ACER) shares shot up 93% to $1.1799 after Zevra Therapeutics announced it will acquire the company. The transaction will have a total potential value for Acer stockholders of up to $91 million.
Shares of Satixfy Communications Ltd. (NYSE: SATX) got a boost, shooting 29% to $0.6148 after it inked a deal with MDA Ltd. to sell its digital payload division, SatixFy Space Systems UK Ltd., for $40 million.
Canopy Growth Corporation (NASDAQ: CGC) shares were also up, gaining ...