SEEL - Nasdaq Turns Lower; Cambridge Bancorp Shares Surge | Benzinga
U.S. stocks traded mixed midway through trading, with the Nasdaq Composite turning lower on Wednesday.
The Dow traded up 0.56% to 34,711.50 while the NASDAQ fell 0.17% to 13,654.54. The S&P 500 also rose, gaining, 0.21% to 4,453.12.
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Leading and Lagging Sectors
Real estate shares jumped by 1% on Wednesday.
In trading on Wednesday, communication services shares fell by 0.5%.
Top Headline
General Mills Inc (NYSE: GIS) reported better-than-expected earnings for its first quarter.
The company reported first-quarter FY24 sales growth of 4% year-on-year to $4.90 billion, beating the analyst consensus of $4.88 billion. Adjusted EPS of $1.09 topped the consensus of $1.08.
General Mills reaffirmed FY24 organic sales growth outlook of 3% - 4%. The company sees FY24 adjusted EPS to grow 4% - 6% in constant currency.
Equities Trading UP
Steelcase Inc. (NYSE: SCS) shares shot up 25% to $10.98. Steelcase reported better-than-expected results for its second quarter.
Shares of Cambridge Bancorp (NASDAQ: CATC) got a boost, shooting 25% to $60.70 after the company announced it entered into a definitive agreement to merge with Eastern Bankshares.
Fresh Tracks Therapeutics, Inc. (NASDAQ: FRTX) shares were also up, gaining 56% to $0.9049 after the company ...