SPWR - Nasdaq Rises 100 Points; Alibaba Posts Weak Earnings | Benzinga
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 100 points on Tuesday.
The Dow traded up 0.22% to 39,519.75 while the NASDAQ rose 0.64% to 16,492.50. The S&P 500 also rose, gaining, 0.34% to 5,239.17.
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Leading and Lagging Sectors
Real estate shares rose by 0.5% on Tuesday.
In trading on Tuesday, energy shares fell by 0.7%.
Top Headline
Alibaba Group Holding Limited (NYSE:BABA) reported weaker-than-expected earnings for its fiscal fourth-quarter.
The e-commerce giant reported fiscal fourth-quarter 2023 revenue growth of 7% year-on-year to $30.73 billion, beating the analyst consensus estimate of $30.40 billion. Adjusted earnings per ADS of $1.40 missed the analyst consensus estimate of $1.41.
Equities Trading UP
- Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) shares shot up 246% to $4.0750 as the company reported pricing of $8.19 million follow-on public offering.
- Shares of SunPower Corporation (NASDAQ:SPWR) got a boost, surging 48% to $4.06 as high short-interest stocks gain amid the return of trader "Roaring ...