S&P 500 Moves Lower; Lowe’s Earnings Top Views – Edible Garden (NASDAQ:EDBL), CFSB Bancorp (NASDAQ:CFSB)

U.S. stocks traded lower midway through trading, with the S&P 500 falling around 0.4% on Wednesday.

The Dow traded down 0.99% to 42,253.42 while the NASDAQ rose 0.01% to 19,144.84. The S&P 500 also fell, dropping, 0.41% to 5,915.95.

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Leading and Lagging Sectors

Communication services shares rose by 1.3% on Wednesday.

In trading on Wednesday, health care stocks dipped by 1.2%.

Top Headline

Lowe’s Companies, Inc. LOW reported mixed results for the first quarter of fiscal 2025.

The company posted adjusted earnings of $2.92 per share, which beat the analyst consensus estimate of $2.89. Revenue for the quarter was down 2% year over year at $20.93 billion, which missed the analyst consensus estimate of $20.94 billion.

Lowe’s said it sees 2025 EPS of $12.15–$12.40 versus the $12.23 consensus estimate. Total sales are projected between $83.5 billion and $84.5 billion, compared with analysts’ expectations of $84.31 billion.

Equities Trading UP           

• SigmaTron International, Inc. SGMA shares shot up 130% to $2.97 after announcing Transom has offered to acquire the company in a transaction valued at $83 million.
• Shares of CFSB Bancorp, Inc. CFSB got a boost, surging 74% to $13.68 after announcing Hometown Financial Group will acquire the company for approximately $44 million.
• Edible Garden AG Incorporated EDBL shares were also up, gaining 59% to $5.73 after the company entered into inducement agreement with existing warrant holder to exercise 999,600 warrants at reduced price of $3.50 per share in exchange for issuance of 1.99m new unregistered 5-year warrants.

Equities Trading DOWN

• Wolfspeed, Inc. WOLF shares dropped 72% to $0.89 following reports that the company is preparing to file for bankruptcy.
• Shares of Guardian Pharmacy Services, Inc. GRDN were down 17% to $21.92 after the company announced the launch of underwritten public offering of Class A common stock.
• LeddarTech Holdings Inc. LDTC was down, falling 35% to $0.3326 after the company announced a reduction of its workforce through temporary layoffs of around 138 individuals, representing about 95% of its total workforce.

Commodities

In commodity news, oil traded up 0.6% to $62.40 while gold traded up 0.5% at $3,301.70.

Silver traded up 0.5% to $33.330 on Wednesday, while copper rose 0.5% to $4.6780.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.13%, while Spain’s IBEX 35 Index fell 0.08%. London’s FTSE 100 rose 0.04%, Germany’s DAX 40 gained 0.12% and France’s CAC 40 fell 0.36% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan’s Nikkei falling 0.61%, Hong Kong’s Hang Seng Index gaining 0.62%, China’s Shanghai Composite Index rising 0.21% and India’s BSE Sensex gaining 0.51%.

Economics

U.S. mortgage application volumes declined by 5.1% from the previous week in the week ending May 16.

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