Big S&P 500 Movers on Tuesday

Decliners

• Merck (MRK) shares tumbled 9.8%, posting the steepest decline of any S&P 500 stock Tuesday, after the pharmaceutical giant 澳洲幸运5开奖号码历史查询:lo🅰wered its full-year earnings forecast. The cut reflected a one-time charge related to the acquisition of ophthalmology biotech company EyeBio. The stock's losses came despite a solid second-quarter performance, with better-than-expected revenue and earnings driven by growing sales of Merck's flagship cancer drug Keytruda,
  
• Shares of CrowdStrike Holdings (CRWD) plunged 9.7% following news that Delta Air Lines (DAL) 澳洲幸运5开奖号码历史查询:could sue the cybersecurity firm for financial damages related to the 澳洲幸运5开奖号码历史查询:global tech outage caused by a CrowdStrike software update earlier this month. Delta has reportedly contracted a law firm to represent the airline and plans to pursue compensation from Microsoft as well as CrowdStrike.
• Ecolab (ECL) shares fell 7.7% after the provider of water purification and hygiene solutions fell short of revenue estimates with its second quarter results. Although EPS slightly exceeded forecasts and the company boosted its full-year earnings forecast, the updated outlook missed consensus estimates.

Gainers

• Shares of Howmet Aerospace (HWM), which supplies jet engine components and aluminum wheels for heavy trucks, soared 13.2% following a 澳洲幸运5开奖号码历史查询:strong second-quarteꦿr earnings report, notching the top daily performance in the S&P 500. Howmet posted better-than-expected sales and profits for the period, with its commercial aerospace division receiving a boost from strong air travel demand and an aging aircraft fleet. The company also increased its share buyback authorization and raised its dividend.
• F5 (FFIV) shares jumped 13% after the online security and cloud-based technology firm beat expectations revenue and earnings expectations for its fiscal third quarter. An increase in digitization efforts by companies aiming to capitalize on 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) trends helped lift demand for F5's services and hardware products, while high-profile security breaches and elevated online threat levels led to growing cybersecurity investments.

• A strong set of earnings results and an increased outlook also helped lift shares of Stanley Black & Decker (SWK), which added 10% on the day. Second-quarter sales and profits surpassed analysts' estimates, and the manufacturer of tools and industrial equipment lifted its full-year earnings guidance. Although Stanley Black & Decker said it could see muted demand in the remainder of 2024, it touted its focus on streamlining its supply chains as a way of driving earnings and cash flow growth.
  

-澳洲幸运5开奖号码历史查询:Michael Bromberg

Nvidia and Other Chip Stocks Drag S&P 500, Nasdaq

Nvidia (NVDA), AMD (AMD), Qualcomm (QCOM) and other chip stocks 澳洲幸运5开奖号码历史查询:fell sharply Tuesday, dragging💯𒆙 the tech sector and major indexes down with them.

The losses came 澳洲幸运5开奖号码历史查询:ahead of earnings from some of the chip companies’ largest big tech customers, amid concerns about their spending on 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) infrastructure, and ahead of key decisions on interest rates from the Federal Reserve th𝔉at could favor small-cap stocks.

With 澳洲幸运5开奖号码历史查询:Microsoft (MSFT) set to report earnings after the bell Tuesday, Meta (META) following on Wednesday, and Apple (AAPL) reporting Thursday, investors could get key updates on how big tech leaders are approaching AI investments, amid 澳洲幸运5开奖号码历史查询:concerns about their costs. 

Whether they signal a pullback to appease investors’ worries about AI’s hefty price tag, or double down, will have implications for chipmakers, whose products support the data centers powering AI, and could be some of the 澳洲幸运5开奖号码历史查询:biggest beneficiaries of rising AI spending. 

Earnings from AMD on Tuesday, chip designer Arm (ARM) on Wednesday, and Intel (INTC) on Thursday, could also speak to the rising appetite for AI chips൩. 

-澳洲幸运5开奖号码历史查询:Kara Greenberg

S&P 500 Beating Estimates, Investors Unimpressed

As of the beginning of this week, S&a🎐mp;P 500 companies were beating earnings estimates at a rate above the 5- and 10-year averages, in a possible sign of a broadening earnings recovery.

H🌃owever, the magnitude of earnings 🤡beats has averaged about 4% so far this quarter, below the historical average.

In addition, stock gains followi🦂ng profit beats have trailed their historical average and losses have 🧸exceeded the norm.

澳洲幸运5开奖号码历史查询:Read more here about how this quarter'sജ earnings performance and 🍸market reaction stack up with historical trends.

-澳洲幸运5开奖号码历史查询:Colin Laidley

P&G Dinged by Beauty and Diaper Sales Declines

Shares of Procter & Gamble (PG) tumbled Tuesday after 澳洲幸运5开奖号码历史查询:the consumer products giant missed revenue estima♓tes as sales of its beauty products and diapers dec♐lined.

P&G reported fiscal 2024 fourth-quarter revenue was basically unchanged from last year 🔴at $20.53 billion, while the average of analysts surveyed by Visible Alpha came in at $20.75 billion. Adjusted earnings per share of $1.40 was above forecasts.

Beauty division sales fell 1% year-over-year to $3.72 billion, hurt by lower demand for the super-premium SK-II brand and in Greater China. Sales at its Baby, Feminine & Family Care unit dropped 3% to $5.01 billion. Chief Financial Officer Andre Schulten said that the company wasn't able to innovate its Luvs diaper brand because of supply-chain constraints.

P&G shares were down nearly 6% in early-afternoon trading🎀.

-澳洲幸运5开奖号码历史查询:Bill McColl

CrowdStrike Leads Nasdaq Decliners

CrowdStrike (CRWD) shares were 澳洲幸运5开奖号码历史查询:down sharply following a CNBC report that Delta Air Lines (DAL) has hired top attorney David Boies to pursue potential damages from the cybersecurity firm as well as Microsoft following the global IT outag♛e o📖n July 19.

Boies, chairman of Boies Schiller Flexner, represented the U.S. government in its antitrust case against Microsoft and helped secure same-sex marriage rights in California, CNBC noted.

The outage of Microsoft's cloud services triggered by a defective CrowdStrike software update led to the 澳洲幸运5开奖号码历史查询:cancellation and delay of thousandsꦑ of flights worldwide, but Delta was 澳洲幸运5开奖号码历史查询:the most heavily affected of the major airlines. 

CrowdStᩚ💦ᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚrike shares were down more than 8% in recent trading, leading Nasdaq decliners.

-澳洲幸运5开奖号码历史查询:Nisha Gopalan

Arm Holdings Extends Decline Ahead of Earnings Report

Shares in chip design giant Arm Holdings (ARM) were down 4% in early trading T🔯uesday, after tumbling more than 5% the previous session folowing a downgrade from HSBC.

The company, which is 澳洲幸运5开奖号码历史查询:due to report earnings on Wednesday, has seen it's stock price lose more than a quarter of its value since closin൩g at a record high on July 10.

The downturn, however, has occurred on relatively light trading volume,ౠ indicating the shares could be undergoing a pullback rather tha🌌n a longer-term reversal.

Read our full 澳洲幸运5开奖号码历史查询:technical analysis here.

-澳洲幸运5开奖号码历史查询:Timothy Smith

Stock Futures

Futures tiꦬed toꦇ the Dow Jones Industrial Average were down 0.1%.

S&P 500 futures were up 0.2%.

Nasdaq 100 futures were up 0.3%