Crude Oil Down 3%; Aramark Posts Upbeat Earnings

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling more than 50 points on Monday.

The Dow traded up 0.76% to 44,324.99 while the NASDAQ fell 0.15% to 19,257.81. The S&P 500 also rose, gaining, 0.04% to 5,998.191.

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Leading and Lagging SectorsFinancials shares surged by 1.4% on Monday.

In trading on Monday, information technology shares fell by 1.3%.

Top Headline

Aramark (NYSE:ARMK) reported better-than-expected fourth-quarter financial results and announced a $500 million share repurchase program. Also, the company approved a 11% increase to its quarterly dividend.

Revenue grew 5% year-over-year (Organic revenue: +7%) to $4.42 billion, missing the consensus of $4.46 billion. Adjusted EPS of 54 cents exceeded the consensus of 53 cents.

Aramark's Board of Directors approved an 11% increase in the quarterly dividend, raising it to 10.5 cents per share. The dividend will be payable on December 12, 2024, to stockholders of record as of December 2, 2024

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