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Markets Mixed as Photronics Soars 35% on Strong Quarterly Beat

MarketDash Editorial Team
8 hours ago
U.S. stocks traded in different directions Wednesday with the Dow climbing over 200 points while tech stocks lagged. Photronics skyrocketed 35% after crushing earnings expectations, while crude oil inventories dropped more than expected and AeroVironment tumbled on mixed guidance.

U.S. markets couldn't quite agree on a direction Wednesday, with the Dow Jones climbing more than 200 points while tech stocks decided to take a breather. By midday trading, the picture was decidedly mixed.

The Dow traded up 0.50% to 47,799.21, while the NASDAQ fell 0.18% to 23,533.49. The S&P 500 split the difference, edging up 0.11% to 6,849.05.

Sector Action: Industrials Flex, Tech Takes a Break

Industrials shares jumped 0.8% on Wednesday, leading the pack. On the flip side, information technology stocks fell 0.6%, weighing on the tech-heavy NASDAQ.

The Inventory Report

U.S. crude oil inventories declined by 1.812 million barrels in the week ended December 5, compared to a 0.574 million barrel gain the previous week. The drawdown came in slightly smaller than market estimates of a 2.3 million barrel decline.

Big Movers Higher

Photronics Inc. (PLAB) shares shot up 35% to $34.66 after the company reported better-than-expected fourth-quarter results and issued first-quarter guidance above analyst estimates. That's the kind of earnings beat that gets investors excited.

Shares of Braze Inc. (BRZE) got a boost, surging 16% to $35.42 after the company raised its FY2026 adjusted EPS and sales guidance following better-than-expected third-quarter revenue.

Enveric Biosciences, Inc. (ENVB) shares were also up, gaining 78% to $10.56. The Massachusetts-based biotech company received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application related to its EVM301 Series molecules, which are being developed as potential treatments for mental health disorders.

Taking It on the Chin

AeroVironment, Inc. (AVAV) shares dropped 10% to $252.56 after the company reported mixed earnings and issued mixed guidance. When you're neither hot nor cold, the market tends to punish you.

Shares of Mama's Creations Inc. (MAMA) were down 9% to $13.03, despite the company recently reporting upbeat third-quarter financial results. Sometimes good news isn't enough.

Pomdoctor Limited (POM) was down big, falling 73% to $1.4799.

Commodity Check

In commodity news, oil traded down 0.8% to $57.78 while gold traded down 0.3% at $4,225.70.

Silver traded up 0.5% to $61.150 on Wednesday, while copper rose 0.7% to $5.3550.

Global Markets Roundup

European shares were mixed. The eurozone's STOXX 600 rose 0.05%, while Spain's IBEX 35 Index rose 0.12%. London's FTSE 100 rose 0.23%, Germany's DAX 40 fell 0.17% and France's CAC 40 fell 0.45% during the session.

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei falling 0.10%, Hong Kong's Hang Seng gaining 0.42%, China's Shanghai Composite declining 0.23% and India's BSE Sensex declining 0.32%.

Economic Data Points

U.S. compensation costs for civilian workers rose 0.8% in the third quarter, compared to a 0.9% gain in the previous period.

The volume of mortgage applications increased 4.8% in the first week of December versus the previous week.

U.S. crude oil inventories declined by 1.812 million barrels in the week ended December 5, compared to a 0.574 million barrel gain in the previous week and versus market estimates of a 2.3 million barrel decline.

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Markets Mixed as Photronics Soars 35% on Strong Quarterly Beat

MarketDash Editorial Team
8 hours ago
U.S. stocks traded in different directions Wednesday with the Dow climbing over 200 points while tech stocks lagged. Photronics skyrocketed 35% after crushing earnings expectations, while crude oil inventories dropped more than expected and AeroVironment tumbled on mixed guidance.

U.S. markets couldn't quite agree on a direction Wednesday, with the Dow Jones climbing more than 200 points while tech stocks decided to take a breather. By midday trading, the picture was decidedly mixed.

The Dow traded up 0.50% to 47,799.21, while the NASDAQ fell 0.18% to 23,533.49. The S&P 500 split the difference, edging up 0.11% to 6,849.05.

Sector Action: Industrials Flex, Tech Takes a Break

Industrials shares jumped 0.8% on Wednesday, leading the pack. On the flip side, information technology stocks fell 0.6%, weighing on the tech-heavy NASDAQ.

The Inventory Report

U.S. crude oil inventories declined by 1.812 million barrels in the week ended December 5, compared to a 0.574 million barrel gain the previous week. The drawdown came in slightly smaller than market estimates of a 2.3 million barrel decline.

Big Movers Higher

Photronics Inc. (PLAB) shares shot up 35% to $34.66 after the company reported better-than-expected fourth-quarter results and issued first-quarter guidance above analyst estimates. That's the kind of earnings beat that gets investors excited.

Shares of Braze Inc. (BRZE) got a boost, surging 16% to $35.42 after the company raised its FY2026 adjusted EPS and sales guidance following better-than-expected third-quarter revenue.

Enveric Biosciences, Inc. (ENVB) shares were also up, gaining 78% to $10.56. The Massachusetts-based biotech company received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application related to its EVM301 Series molecules, which are being developed as potential treatments for mental health disorders.

Taking It on the Chin

AeroVironment, Inc. (AVAV) shares dropped 10% to $252.56 after the company reported mixed earnings and issued mixed guidance. When you're neither hot nor cold, the market tends to punish you.

Shares of Mama's Creations Inc. (MAMA) were down 9% to $13.03, despite the company recently reporting upbeat third-quarter financial results. Sometimes good news isn't enough.

Pomdoctor Limited (POM) was down big, falling 73% to $1.4799.

Commodity Check

In commodity news, oil traded down 0.8% to $57.78 while gold traded down 0.3% at $4,225.70.

Silver traded up 0.5% to $61.150 on Wednesday, while copper rose 0.7% to $5.3550.

Global Markets Roundup

European shares were mixed. The eurozone's STOXX 600 rose 0.05%, while Spain's IBEX 35 Index rose 0.12%. London's FTSE 100 rose 0.23%, Germany's DAX 40 fell 0.17% and France's CAC 40 fell 0.45% during the session.

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei falling 0.10%, Hong Kong's Hang Seng gaining 0.42%, China's Shanghai Composite declining 0.23% and India's BSE Sensex declining 0.32%.

Economic Data Points

U.S. compensation costs for civilian workers rose 0.8% in the third quarter, compared to a 0.9% gain in the previous period.

The volume of mortgage applications increased 4.8% in the first week of December versus the previous week.

U.S. crude oil inventories declined by 1.812 million barrels in the week ended December 5, compared to a 0.574 million barrel gain in the previous week and versus market estimates of a 2.3 million barrel decline.

    Markets Mixed as Photronics Soars 35% on Strong Quarterly Beat - MarketDash News