Nasdaq Falls Over 100 Points; Eli Lilly Shares Gain On Upbeat Earnings

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling over 100 points on Wednesday.

The Dow traded up 0.79% to 54,514.16 while the NASDAQ fell 0.44% to 26,467.77.

The S&P 500 also fell, dropping, 0.07% to 7,731.26.

Leading and Lagging Sectors Materials shares jumped by 2% on Wednesday.

In trading on Wednesday, energy stocks fell by 1.1%.

Top Headline Eli Lilly And Co (NYSE: LLY ) shares gained over 5% on Wednesday after the company reported better-than-expected second-quarter financial results.

Eli Lilly reported quarterly earnings of $8.38 per share which beat the analyst consensus estimate of $6.01 per share.

The company reported quarterly sales of $22.974 billion which beat the analyst consensus estimate of $20.725 billion.

Equities Trading UP Digital Turbine Inc (NASDAQ: APPS ) shares shot up 43% to $13.68 after the company reported better-than-expected first-quarter financial results and raised its FY27 sales guidance above estimates.

Shares of Bloomin’ Brands Inc (NASDAQ: BLMN ) got a boost, surging 35% to $12.03 after the company reported better-than-expected second-quarter financial results and raised its FY26 EPS guidance.

Flotek Industries Inc ( NYSE: FTK ) shares were also up, gaining 27% to $35.75 after the company reported better-than-expected second-quarter financial results and raised its FY26 sales guidance above estimates.

Equities Trading DOWN Tigo Energy Inc ( NASDAQ: TYGO ) shares dropped 43% to $1.17 after the company reported mixed second-quarter results and cut its FY26 sales guidance below estimates.

Shares of Limbach Holdings Inc ( NASDAQ: LMB ) were down 27% to $56.60 after the company reported worse-than-expected second-quarter financial results.

Advantage Solutions Inc (NASDAQ: ADV ) was down, falling 28% to $30.01 following second-quarter results.

Commodities In commodity news, oil traded down 0.4% to $75.46 while gold traded up 2.5% at $4,254.50.

Silver traded up 3.5% to $62.355 on Wednesday, while copper rose 0.5% to $6.6770.

Euro zone European shares were mostly higher today.

The eurozone’s STOXX 600 gained 0.2%, while Spain’s IBEX 35 Index rose 0.2% London’s FTSE 100 gained 0.2%, Germany’s DAX gained 0.2%, while France’s CAC 40 slipped 0.01%.

Asia Pacific Markets Asian markets closed higher on Wednesday, with Japan’s Nikkei 225 gaining 3.66%, Hong Kong’s Hang Seng index rising 0.24%, China’s Shanghai Composite rising 1.47% and India’s BSE Sensex rising 0.19%.

Economics U.S. private businesses added 44,000 jobs in July, compared to a revised 95,000 gain in the previous month and down from market estimates of 70,000.

The S&P Global composite PMI surged to 54.5 in July from 51.9 in the previous month, exceeding the preliminary reading of 53.6.

The ISM services PMI rose to 54.1 in July from 54 in June and down from market estimates of 54.5.

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