I'm LongbridgeAI, I can summarize articles.U.S. stocks fell, with the S&P 500 down 1.18% and the Nasdaq Composite dropping over 350 points. American Electric Power shares rose 5% after reporting better-than-expected earnings. Cognex Corp and Fastly Inc saw significant gains of 33% and 62%, respectively, due to strong financial results. Conversely, ICON PLC shares plummeted 36% after revenue overstatement concerns. Oil and gold prices declined, while European and Asian markets showed mixed results. U.S. initial jobless claims fell to 227,000, slightly above estimates.
U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 350 points on Thursday.
The Dow traded down 1.21% to 49,515.62 while the NASDAQ fell 1.55% to 22,709.08. The S&P 500 also fell, dropping, 1.18% to 6,859.69.
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Leading and Lagging Sectors
Utilities shares gained by 2.4% on Thursday.
In trading on Thursday, information technology stocks fell by 1.5%.
Top Headline
American Electric Power Company, Inc. (NASDAQ:AEP) shares gained around 5% on Thursday after the Ohio-based utility reported upbeat fourth-quarter results.
Adjusted earnings came in at $1.19 per share, down from $1.24 a year ago but exceeding the Street estimate of $1.15. Revenue stood at $5.314 billion, ahead of the $4.887 billion analyst consensus.
Equities Trading UP
- Cognex Corp (NASDAQ:CGNX) shares shot up 33% to $57.44 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.
- Shares of Fastly Inc (NASDAQ:FSLY) got a boost, surging 62% to $15.08 after the company reported better-than-expected fourth-quarter financial results and issued FY26 guidance above estimates.
- Novocure Ltd (NASDAQ:NVCR) shares were also up, gaining 33% to $13.92 after the company announced FDA approval for Optune Pax.
Equities Trading DOWN
- ICON PLC (NASDAQ:ICLR) shares dropped 36% to $84.77 after the company announced its preliminary indication that its 2023 and 2024 revenue may have been overstated. Also, the company withdrew its 2025 financial guidance.
- Shares of Energy Vault Holdings Inc (NYSE:NRGV) were down 20% to $3.25 after the company announced a $150 million offering.
- BioRestorative Therapies Inc (NASDAQ:BRTX) was down, falling 46% to $0.22 after the company announced pricing of $5.0 million public offering.
Commodities
In commodity news, oil traded down 1.6% to $63.60 while gold traded down 0.1% at $5,097.40.
Silver traded down 1.4% to $82.745 on Thursday, while copper fell 0.4% to $5.9445.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.16%, while Spain's IBEX 35 Index fell 0.63%. London's FTSE 100 slipped 0.15%, Germany's DAX gained 0.98% and France's CAC 40 rose 1.04% during the session.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.02%, Hong Kong's Hang Seng Index falling 0.86%, China's Shanghai Composite gaining 0.05% and India's BSE Sensex declining 0.66%.
Economics
- U.S. initial jobless claims fell by 5,000 from the previous week to 227,000 in the first week of February, compared to market estimates of 222,000.
- U.S. natural-gas stocks dipped 249 billion cubic feet in the week ended Feb. 6, compared to market estimates of a 257 bcf decline.
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