VICR - Nasdaq Down 1.5%; Microsoft Posts Upbeat Results | Benzinga
U.S. stocks traded lower this morning, with the Nasdaq Composite falling 1.5% on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.26% to 33,053.68 while the NASDAQ fell 1.50% to 12,942.66. The S&P 500 also fell, dropping, 0.97% to 4,206.67.
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Leading and Lagging Sectors
Energy shares rose by 0.2% on Wednesday.
In trading on Wednesday, communication services shares fell by 4.9%.
Top Headline
Microsoft Corporation (NASDAQ: MSFT) posted stronger-than-expected results for its fiscal first quarter on Tuesday.
Microsoft’s fiscal first-quarter revenue rose 13% year-over-year to $56.5 billion, which beat the consensus estimate of $51.4 billion. The company reported quarterly earnings of $2.99 per share, versus expectations of $2.50 per share.
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Abri SPAC I, Inc. (NASDAQ: ASPA) shares shot up 136% to $29.54. Abri's stockholders approved its proposed business combination with DLQ.
Shares of ReShape Lifesciences Inc. (NASDAQ: RSLS) got a boost, shooting 36% to $0.28 after gaining over 6% on Tuesday. ReShape ...