Nasdaq Surges 1%; Hershey Posts Downbeat Q3 Results

U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining around 1% on Thursday.

Following the market opening Thursday, the Dow traded up 0.06% to 43,757.89 while the NASDAQ rose 1.06% to 19,184.31. The S&P 500 also rose, gaining, 0.52% to 5,959.89.

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Leading and Lagging Sectors

Consumer discretionary shares surged by 1.6% on Thursday.

In trading on Thursday, financials shares fell by 0.9%.

Top Headline

The Hershey Company (NYSE:HSY) posted weaker-than-expected results for the third quarter on Thursday.

Hershey posted adjusted EPS of $2.34, missing market estimates of $2.56. The company's quarterly sales came in at $2.987 billion versus expectations of $3.077 billion.

Hershey slashed its FY24 adjusted earnings per share view to $9.00 – $9.10 versus $9.40 estimate (from $9.49 – $9.59). The company sees flat net sales in FY24, compared with the prior view of 2% growth.

Equities Trading UP
                       

• Webuy Global Ltd (NASDAQ:WBUY) shares shot up 337% to $0.4984.
• Shares of Nature’s Miracle Holding Inc. (NASDAQ:NMHI) got a boost, surging 213% to $0.3036. ...

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