Nasdaq Gains 1%; McDonald's Posts Downbeat Results
U.S. Stock Market Performance: U.S. stocks opened higher with the Nasdaq Composite gaining around 1%, while the Dow and S&P 500 also saw modest increases. Consumer discretionary shares rose by 1.1%, but energy shares fell by 0.9%.
McDonald's Financial Results: McDonald's reported disappointing second-quarter results, with a sales decline of 0.12% year-on-year and adjusted EPS missing analyst expectations. Meanwhile, several stocks like Lipella Pharmaceuticals surged significantly after positive announcements.
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Post-Market Winners: A Calm Trading Day Highlighted by a Notable Biotech Rise
DBV Technologies Surge: DBV Technologies S.A. experienced a dramatic 61.29% increase in after-hours trading after announcing successful results from its Phase 3 study of the VIASKIN Peanut patch for peanut-allergic children, reigniting investor interest.
Modular Medical Offering: Modular Medical, Inc. saw a modest gain of 3.53% amid ongoing investor analysis of its recent public offering announcement, which includes over 12 million shares priced at an effective cost of $0.38 per share.
Other Small Gains: Several other companies, including Co-Diagnostics, Elutia Inc., and Treace Medical Concepts, posted small increases in after-hours trading, attributed to light-volume activity rather than specific news.
Amylyx Pharmaceuticals Update: Amylyx Pharmaceuticals advanced 4.83% following its recent presentation of early Phase 1 trial data for AMX0114, which showed promising safety and tolerability, with further enrollment expected soon.
Biotech and Healthcare Stocks Top After-Hours Gainers: ICU, CGTX, MESO, VRCA, AHCO
Biotech Gains in After-Hours Trading: Several small- and mid-cap biotech and healthcare companies saw significant gains in after-hours trading, driven by corporate updates and financing developments.
SeaStar Medical's Leadership Change: SeaStar Medical's stock rose nearly 10% after the appointment of Michael Messinger as Chief Financial Officer, boosting investor confidence despite no new news.
Cognition Therapeutics' Speculative Buying: Cognition Therapeutics rebounded almost 11% in after-hours trading, likely due to speculative buying interest, following a decline during regular trading hours.
Mesoblast's Revenue Projection: Mesoblast's shares increased after management projected over $30 million in gross revenue for the December quarter, indicating strong demand for its cell therapy product, Ryoncil.
