U.S. stocks traded lower this morning, with the Dow Jones index falling more than 400 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.91% to 46,906.05 while the NASDAQ dipped 1.59% to 23,456.33. The S&P 500 also fell, dropping, 1.17% to 6,772.04.
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Leading and Lagging Sectors
Consumer staples shares jumped by 0.5% on Tuesday.
In trading on Tuesday, information technology stocks fell by 1.8%.
Top Headline
Pfizer Inc. (NYSE:PFE) reported better-than-expected earnings for the third quarter.
The company posted third-quarter 2025 adjusted earnings of 87 cents, compared to $1.06 a year ago, beating the consensus of 63 cents. Pfizer’s third-quarter sales fell 6% year over year to $16.65 billion, beating the consensus of $16.59 billion. The revenue reflected an operational decline of 7%.
Pfizer raised fiscal 2025 adjusted earnings guidance from $2.90-$3.10 per share to $3.00-$3.15, versus consensus of $3.04.
Equities Trading UP
- Evoke Pharma, Inc. (NASDAQ:EVOK) shares shot up 135% to $10.74 after the company announced it entered into a definitive agreement to be acquired by QOL Medical.
- Shares of PTL Limited (NASDAQ:PTLE) got a boost, surging 120% to $0.4108 after the company reported a year-over-year increase in H1 EPS results.
- Denny’s Corporation (NASDAQ:DENN) shares were also up, gaining 50% to $6.16 after the company announced it will be acquired by a group led by TriArtisan Capital Advisors in an all-cash deal valued at approximately $620 million, or $6.25 per share.
Equities Trading DOWN
- Prelude Therapeutics Incorporated (NASDAQ:PRLD) shares dropped 56% to $1.7601. Prelude Therapeutics signed an agreement for Incyte to acquire JAK2V617F JH2 inhibitor program in development for patients with myeloproliferative neoplasms.
- Shares of JELD-WEN Holding, Inc. (NYSE:JELD) were down 38% to $2.61 after the company reported worse-than-expected third-quarter financial results and cut its FY25 guidance below estimates.
- ALPS Group Inc (NASDAQ:ALPS) was down, falling 30% to $0.9979.
Commodities
In commodity news, oil traded down 1.2% to $60.34 while gold traded down 1.8% at $3,943.90.
Silver traded down 2.6% to $46.780 on Tuesday, while copper fell 2.6% to $4.9355.
Euro zone
European shares were lower today. The eurozone's STOXX 600 declined 0.7%, while Spain's IBEX 35 Index fell 0.5%. London's FTSE 100 fell 0.4%, Germany's DAX 40 dipped 1.2% and France's CAC 40 fell 0.9% during the session.
Asia Pacific Markets
Asian markets closed lower on Tuesday, with Japan's Nikkei 225 falling 1.74%, Hong Kong's Hang Seng declining 0.79%, China's Shanghai Composite falling 0.41% and India's BSE Sensex declining 0.62%.
Economics
The Logistics Manager's Index came in unchanged at 57.4 in October, matching the previous month's reading.
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