Crude Oil Falls 2.5%; Ralph Lauren Posts Upbeat Earnings

 Grand News Network  November 8, 2023

U.S. stocks traded mostly lower toward the end of trading, with the Dow Jones falling around 80 points on Wednesday

The Dow traded down 0.23% to 34,074.30 while the NASDAQ fell 0.01% to 13,638.07. The S&P 500 also fell, dropping, 0.01% to 4,378.16.

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Leading and Lagging Sectors


Information technology shares rose by 0.5% on Wednesday.

In trading on Wednesday, utilities shares fell by 1.5%.


Top Headline


Ralph Lauren Corporation (NYSE: RL) posted upbeat earnings for its second quarter on Wednesday.

Ralph Lauren reported second-quarter FY24 sales growth of 3% year-on-year to $1.63 billion, beating the analyst consensus estimate of $1.61 billion. Adjusted EPS of $2.10 beat the consensus estimate of $1.93.


Equities Trading UP


Blade Air Mobility, Inc. (NASDAQ: BLDE) shares shot up 35% to $3.0601 as the company reported third-quarter FY23 revenue growth of 56.3% year-over-year to $71.44 million, beating the consensus of $66.94 million.

Shares of GAN Limited (NASDAQ: GAN) got a boost, shooting 85% to $1.65 as the company agreed to be acquired by Sega Sammy Creation for $1.97 per share in cash.

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