US Stocks Mixed; UniFirst Shares Fall After Q3 Results

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 50 points on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.22% to 44,398.83 while the NASDAQ gained 0.25% to 20,252.83. The S&P 500 also fell, dropping, 0.02% to 6,196.53.

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Leading and Lagging Sectors

Materials shares jumped by 0.5% on Wednesday.

In trading on Wednesday, health care stocks fell by 0.6%.

Top Headline

Shares of UniFirst Corporation (NYSE:UNF) fell over 2% after the company reported mixed results for the third quarter on Wednesday.

The company posted quarterly earnings of $2.17 per share which beat the analyst consensus estimate of $2.09 per share. The company reported quarterly sales of $610.778 million which missed the analyst consensus estimate of $614.510 million.

UniFirst raised its FY2025 GAAP earnings guidance from $7.30-$7.70 per share to $7.60-$8.00 per share.

Equities Trading UP
           

• CID HoldCo, Inc. (NASDAQ:DAIC) shares shot up 154% to $11.73.
• Shares of Mogo Inc. (NASDAQ:MOGO) got a boost, surging 138% to $2.8748 after the company announced a $50 million bitcoin treasury authorization.
• Blue Gold Limited (NASDAQ:BGL) shares were also up, gaining 63% to $117.27.

Equities Trading DOWN

• BioNexus Gene Lab Corp. (NASDAQ:BGLC) shares dropped 47% to $5.90.
• Shares of Mustang Bio, Inc. (NASDAQ:MBIO) were down 41% to $1.2106 after jumping 115% on Tuesday.
• Centene Corporation (NYSE:CNC) was down, falling 37% to $35.99 after the company withdrew its previous 2025 GAAP and adjusted diluted EPS guidance, including the underlying guidance elements.

Commodities

In commodity news, oil traded up 0.5% to $65.75 while gold traded down 0.1% at $3,347.00.

Silver traded up 0.2% to $36.475 on Wednesday, while copper rose 1.3% to $5.1645.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.2%, while Spain's IBEX 35 Index rose 0.1%. London's FTSE 100 fell 0.5%, Germany's DAX 40 gained 0.1% and France's CAC 40 gained 0.9% during the session.

Asia Pacific Markets

Asian markets closed lower on Wednesday, with Japan's Nikkei dipping 0.56%, China's Shanghai Composite falling 0.09% and India's BSE Sensex falling 0.34%.

Economics

• U.S.-based employers announced job cuts of 47,999 in June versus 93,816 in the previous month and 48,786 in the year-ago period.
• The volume of mortgage applications increased by 2.7% from the previous week during the last week of June.

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