VNDA - Nasdaq Gains 75 Points; Acuity Brands Posts Upbeat Earnings | Benzinga
U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 0.3% on Wednesday.
The Dow traded up 0.08% to 39,200.08 while the NASDAQ rose 0.46% to 16,315.68. The S&P 500 also rose, gaining, 0.31% to 5,221.70.
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Leading and Lagging Sectors
Industrials shares jumped by 0.8% on Wednesday.
In trading on Wednesday, consumer staples shares fell by 0.9%.
Top Headline
Acuity Brands, Inc (NYSE: AYI) reported better-than-expected earnings for its second quarter.
The company posted a quarterly net sales decline of 4.0% year-over-year to $905.9 million, missing the consensus of $907.7 million. It clocked an adjusted EPS of $3.38, beating the consensus of $3.25.
Equities Trading UP
Kintara Therapeutics, Inc. (NASDAQ: KTRA) shares shot up 63% to $0.1637 after the company entered a merger agreement with TuHURA Biosciences.
Shares of ARCA biopharma, Inc. (NASDAQ: ABIO) got a boost, surging 78% to $3.04 after the company and Oruka Therapeutics announced a merger agreement.
Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) shares were also up, gaining 32% to $5.17 after the company's Fanapt received FDA approval for the acute treatment of bipolar I disorder.
Equities Trading DOWN
Casa Systems, ...