The S&P 500 surged to a new all-time high on Thursday, recording its best first-quarter performance in five years. For the quarter, the S&P 500 gained 10.2%, while the Dow Jones added 5.6% during the quarter, notching its best first-quarter performance since 2021.
Shares of Kodiak Sciences Inc. (NASDAQ: KOD) fell sharply during Thursday’s session after the company reported a wider-than-expected fourth-quarter loss.
Kodiak Sciences posted a quarterly loss of $1.13 per share, compared to market expectations for a loss of 77 cents per share.
U.S. stocks were slightly higher, with the S&P 500 gaining around 0.1% on Thursday.
Shares of REX American Resources Corporation (NYSE: REX) rose sharply during Thursday’s session following upbeat quarterly earnings.
U.S. stocks traded mixed this morning, with the Dow Jones index trading almost flat on Thursday.
Following the market opening Thursday, the Dow traded down 0.02% to 39,753.17 while the NASDAQ fell 0.08% to 16,385.80. The S&P 500 also rose, gaining, 0.04% to 5,250.38.
As of March 28, 2024, five stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.