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    Gold Down Over 1%; Flowers Foods Posts Weak Earnings

    Benzinga·05/16/2025 17:37:00
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    U.S. stocks traded higher midway through trading, with the Dow Jones gaining more than 200 points on Friday.

    The Dow traded up 0.59% to 42,570.89 while the NASDAQ rose 0.37% to 19,183.25. The S&P 500 also rose, gaining, 0.54% to 5,948.96.

    Check This Out: Wall Street’s Most Accurate Analysts Give Their Take On 3 Defensive Stocks Delivering High-Dividend Yields

    Leading and Lagging Sectors

    Health care shares jumped by 0.8% on Friday.

    In trading on Wednesday, energy stocks fell by 0.8%.

    Top Headline

    Flowers Foods, Inc. (NYSE:FLO) reported weaker-than-expected earnings for the first quarter on Friday.

    The company posted quarterly earnings of 35 cents per share which missed the analyst consensus estimate of 38 cents per share. The company reported quarterly sales of $1.55 billion which missed the analyst consensus estimate of $1.60 billion.

    FLowers Foods lowered its FY2025 adjusted EPS guidance from $1.18-$1.28 to $1.05-$1.15 and lowered FY2025 sales guidance, excluding the Simple Mills acquisition, from $5.18 billion-$5.26 billion to $5.08 billion-$5.17 billion.

    Equities Trading UP
                           

    • Quantum Computing Inc. (NASDAQ:QUBT) shares shot up 35% to $12.48 after the company reported better-than-expected quarterly EPS results.
    • Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) got a boost, surging 177% to $3.9450 after the company announced BioMarin will acquire the company for about $270 million.
    • TSS, Inc. (NASDAQ:TSSI) shares were also up, gaining 81% to $16.05 after the company reported a year-over-year increase in first-quarter revenue results.

    Equities Trading DOWN

    • Globant S.A. (NYSE:GLOB) shares dropped 28% to $95.27 after the company reported worse-than-expected first-quarter financial results, issued second-quarter guidance below estimates, and cut its FY25 guidance.
    • Shares of Doximity, Inc. (NYSE:DOCS) were down 14% to $50.04 after the company issued FY26 sales guidance below estimates.
    • Zenvia Inc. (NASDAQ:ZENV) was down, falling 34% to $1.20 following full year 2024 results.

    Commodities

    In commodity news, oil traded up 0.6% to $62.01 while gold traded down 1.2% at $3,188.60.

    Silver traded down 1.5% to $32.190 on Friday, while copper fell 2.2% to $4.5795.

    Euro zone

    European shares were mostly higher today. The eurozone's STOXX 600 rose 0.14%, while Spain's IBEX 35 Index rose 0.61%. London's FTSE 100 gained 0.46%, Germany's DAX 40 fell 0.01% and France's CAC 40 gained 0.14% during the session.

    Asia Pacific Markets

    Asian markets closed lower on Friday, with Japan's Nikkei falling 0.005%, Hong Kong's Hang Seng Index declining 0.46%, China's Shanghai Composite Index falling 0.40% and India's BSE Sensex declining 0.24%.

    Economics

    • The University of Michigan consumer sentiment for the US dipped to 50.8 in May compared to April's reading of 52.2 and down from market estimates of 53.4.
    • U.S. import prices rose by 0.1% month-over-month in April compared to a revised 0.4% decline in the previous month.
    • U.S. building permits declined by 4.7% to an annualized rate of 1.412 million in April, recording the lowest level in eleven months.
    • U.S. housing starts increased 1.6% month-over-month in April to an annual rate of 1.361 million.
    • U.S. export prices increased 0.1% month-over-month in April, versus market estimates of a 0.5% fall.

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