U.S. stocks traded lower midway through trading, with the Dow Jones falling around 300 points on Friday.
The Dow traded down 0.64% to 45,328.48 while the NASDAQ fell 0.28% to 21,646.17. The S&P 500 also fell, dropping, 0.55% to 6,466.40.
Check This Out: Lululemon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Leading and Lagging Sectors
Materials shares jumped by 0.8% on Thursday.
In trading on Thursday, financial stocks fell by 1.3%.
Top Headline
ABM Industries Inc. (NYSE:ABM) reported mixed fiscal third-quarter 2025 results.
The company posted revenue of $2.22 billion, up 6.2% from $2.09 billion a year earlier. Analysts expected $2.15 billion. Adjusted net income was $51.7 million, or 82 cents per diluted share. It missed the 95-cent estimate and was down from $53.6 million, or 84 cents per diluted share, in the prior year.
Looking ahead, ABM narrowed its fiscal 2025 adjusted EPS outlook to $3.65, the low end of its prior $3.65 to $3.80 range and below the $3.75 analyst estimate.
Equities Trading UP
- Samsara Inc (NYSE:IOT) shares shot up 15% to $41.04 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY26 guidance above estimates.
- Shares of Guidewire Software Inc (NYSE:GWRE) got a boost, surging 19% to $257.28 after the company reported fourth-quarter results above analyst estimates. Multiple analysts raised their price targets on the stock.
- Peraso Inc (NASDAQ:PRSO) shares were also up, gaining 61% to $1.32 after Mobix Labs strengthened its acquisition bid for the company by adding a cash component to its original all-stock offer.
Equities Trading DOWN
- Youxin Technology Ltd (NASDAQ:YAAS) shares dropped 63% to $0.11 after the company announced the pricing of a $6.0 million underwritten public offering.
- Shares of Lululemon Athletica Inc (NASDAQ:LULU) were down 18% to $168.06 after the company lowered FY25 guidance. Multiple analysts downgraded the stock.
- Argan Inc (NYSE:AGX) was down, falling 14% to $205.50 after the company reported mixed second-quarter financial results.
Commodities
In commodity news, oil traded down 2.7% to $61.80 while gold traded up 1.2% at $3,650.10.
Silver traded up 0.3% to $41.530 on Friday, while copper fell 0.2% to $4.5500.
Euro zone
European shares were lower today. The eurozone's STOXX 600 slipped 0.16%, while Spain's IBEX 35 Index fell 0.45%. London's FTSE 100 fell 0.09%, Germany's DAX 40 declined 0.73% and France's CAC 40 fell 0.31% during the session.
Asia Pacific Markets
Asian markets closed mostly higher on Friday, with Japan's Nikkei 225 gaining 1.03%, Hong Kong's Hang Seng gaining 1.43%, China's Shanghai Composite gaining 1.24% and India's BSE Sensex falling 0.01%.
Economics
- The U.S. economy added just 22,000 jobs in August, down sharply from July’s 79,000 and far short of the 75,000 economists had expected.
- The unemployment rate edged up to 4.3% from 4.2%, in line with forecasts. Wage growth remained steady: average hourly earnings rose 0.3% on the month and 3.7% year-over-year, cooling from July’s 3.9%.
Now Read This:
Photo via Shutterstock
