/Nasdaq leads stock drop, Pfizer, CVS buck selling – Fox Business

Nasdaq leads stock drop, Pfizer, CVS buck selling – Fox Business


U.S. stocks slipped in early trading as investors digested a fresh batch of corporate earnings. 

The Nasdaq Composite paced the declines down over 1% led by Tesla and AMD.

TickerSecurityLastChangeChange %
I:COMPNASDAQ COMPOSITE INDEX13587.694078-307.42-2.21%
TSLATESLA, INC.665.86-19.04-2.78%
AMDADVANCED MICRO DEVICES, INC.77.73-0.82-1.04%

While the Dow Jones Industrial Average and the S&P 500 also fell 0.25% and 0.53%, respectively. 

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES33869.92-243.31-0.71%
SP500S&P 5004145.01-47.65-1.14%

In earnings news, both Pfizer and CVS boosted financial outlooks as demand for COVID-19 related items fueled results and shares moved higher. 

“We delivered strong first-quarter results and improved our outlook for the year,” said CVS Health President and CEO Karen S. Lynch. “We continue to execute on our strategy while simultaneously managing through a pandemic, helping the country on the road to recovery. 

BIDEN TALKS TAXES ON AMERICANS EARNING LESS THAN $400K

Moderna also in focus after announcing plans to boost its manufacturing facility in Massachusetts. “Our manufacturing facility has been core to our long-term strategy and has enabled us to provide the scale and flexibility to support the development of our mRNA medicines and vaccines including our COVID-19 vaccine,” said CEO Stéphane Bancel in a statement. 

TickerSecurityLastChangeChange %
PFEPFIZER INC.40.13+0.34+0.84%
CVSCVS HEALTH CORP.79.66+2.00+2.58%

Marathon Oil shares were also lower after the company announced it has reduced $500 million in debt. 

TickerSecurityLastChangeChange %
MROMARATHON OIL11.18+0.03+0.27%

After the closing bell investors will get results from Lyft, Xilinx, and Zillow to name a few. 

TickerSecurityLastChangeChange %
LYFTLYFT INC.53.79-3.29-5.76%
XLNXXILINX, INC.121.40-2.15-1.74%
ZZILLOW GROUP INC117.67-8.03-6.39%

In commodities, oil continues its upward climb touching the $65 per barrel level, while gold was modestly lower trading at $1,782 an ounce. 

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