Dow falls over 100 points; Kimball International shares soar higher -…

Dow falls over 100 points; Kimball International shares soar higher -…

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US stocks were mixed mid-trade, with the Dow Jones falling more than 100 points on Wednesday.

The Dow fell 0.37% to 32,733.54, while the NASDAQ rose 0.15% to 11,547.91. The S&P 500 was also down 0.02% to 3,985.60.

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Leading and lagging sectors

  • Real estate stocks rose 1.3% on Wednesday. Meanwhile top winner in the sector included WeWork Inc. WEby 8% and iStar Inc. STARplus 3%.
  • In Wednesday’s trading, consumer discretionary stocks fell 0.6%.

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U.S. crude inventories fell 1.7 million barrels last week, the EIA said.

Stock trading UP

  • Kimball International, Inc. KBAL Shares rose 84% to $12.34 after HNI Corporation announced it would acquire the company for $485 million.
  • shares of Diversey Holdings, Ltd. DSEY got a boost, rising 37% to $8.16 after the company announced it would be acquired by Solenis for $4.6 billion.
  • Arlo Technologies, Inc. ARLO Shares were also higher, gaining 37% to $4.9050 after the company reported better-than-expected Q4 adjusted EPS and sales results and issued an adjusted EPS forecast above FY23 estimates.

Stocks are trading down

  • Intelligent Bio Solutions Inc. INBS Shares fell 46% to $3.2392 after the company announced pricing for a $2.2 million public offering.
  • shares of Miromatrix Medical Inc. MIRO fell 37% to $1.55 after the company announced pricing of a $10 million public offering of common stock.
  • United Natural Foods, Inc. UNFI was down, falling 27% to $30.09 after the company reported worse-than-expected earnings per share for Q2 and cut guidance for fiscal 23 earnings per share.

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On commodities news, oil traded up 0.4% to $77.31, while gold was up 0.4% to $1,826.70.

Silver was up 0.3% on Wednesday at $20.255, while copper was up 2.2% at $4.0605.

euro zone

European stocks mostly closed higher today….

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