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Gold Gains Over 1%; Battalion Oil Shares Spike Higher
Battalion OilBattalion Oil(US:BATL) Benzingaยท2024-09-20 16:39

Market Overview - U.S. stocks showed mixed performance with the Nasdaq Composite down more than 0.2% on Friday [1] - The Dow increased by 0.09% to 42,064.34, while the S&P 500 fell by 0.22% to 5,701.29 [1] Company Performance - Lennar Corporation reported better-than-expected financial results for Q3, projecting new orders between 19,000 to 19,300 and deliveries between 22,500 to 23,000 for Q4, with an average sales price of approximately $425,000 [2] - Banzai International, Inc. shares surged 131% to $6.62 following a 1-for-50 reverse stock split [2] - Battalion Oil Corporation shares increased by 120% to $6.48 after amending its merger agreement with Fury Resources for a cash acquisition at $7.00 per share [2] - Constellation Energy Corporation shares rose by 13% to $235.54 after signing a 20-year power purchase agreement with Microsoft [2] Declining Stocks - Corbus Pharmaceuticals Holdings, Inc. shares dropped 59% to $21.12 despite an Outperform rating and a price target of $82 from RBC Capital [3] - Sable Offshore Corp. shares fell 19% to $22.79 after announcing a $150 million private placement [3] - FedEx Corporation shares decreased by 15% to $254.45 due to weaker-than-expected Q1 results and lowered full-year guidance [3] Commodities - Oil prices increased by 0.1% to $72.03, while gold rose by 1.3% to $2,649.40 [4] - Silver prices were up 0.1% to $31.455, and copper fell by 0.4% to $4.33 [4] European Market Insights - European shares declined, with the eurozone's STOXX 600 down 1.34% and Germany's DAX down 1.43% [4] - Spain's trade deficit narrowed to EUR 3.2 billion in July from EUR 4.9 billion year-over-year [4] - The manufacturing climate indicator in France decreased to 98.6 in September from 98.9 [4] Asia Pacific Market Performance - Asian markets closed higher, with Japan's Nikkei 225 gaining 1.53% and Hong Kong's Hang Seng Index up 1.36% [5] - The Reserve Bank of India's foreign exchange reserves reached $689.5 billion as of September 13 [5] - The Bank of Japan maintained its key short-term interest rate at around 0.25% [5]