S&P 500 Gains 0.5%; US Foods Shares Rise After Q4 Results

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U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 250 points on Thursday.

The Dow traded up 0.75% to 38,713.88 while the NASDAQ rose 0.22% to 15,894.39. The S&P 500 also rose, gaining, 0.52% to 5,026.65.

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Leading and Lagging Sectors

 

Energy shares rose by 2% on Thursday.

In trading on Thursday, information technology shares fell by 0.6%.

 

Top Headline

 

Shares of US Foods Holding Corp. (NYSE: USFD) gained around 3% on Thursday after the company reported better-than-expected fourth-quarter revenue results and issued FY24 net sales guidance above estimates.

US Foods reported fourth-quarter revenue of $8.936 billion, beating the street view of $8.791 billion. Net sales increased 4.9% year over year. Quarterly adjusted diluted earnings per share increased 16.4% to 64 cents, missing the street view of 67 cents.

For FY24, the company sees net sales of $37.5 billion to $38.5 billion (estimate: $37.32 billion), with adjusted EPS of $3.00-$3.20 (estimate: $3.23).

 

Equities Trading UP

 

JX Luxventure Limited (NASDAQ: JXJT) shares shot up 152% to $3.28 following H1 results.

Shares of SoundHound AI, Inc. (NASDAQ: SOUN) got a boost, surging 64% to $3.6899 after AI darling Nvidia reported a stake in the company.

Nano-X Imaging Ltd. (NASDAQ: NNOX) shares were also up, gaining 54% to $9.82. Nvidia …

Full story available on Benzinga.com


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