Midway through trading Tuesday, the Dow traded up 0.56 percent to 18,361.19 while the NASDAQ climbed 0.62 percent to 5,198.04. The
S&P also rose, gaining 0.54 percent to 2,143.06.
Leading and Lagging Sectors
On Tuesday, basic materials shares gained by 1.02 percent. Meanwhile, top gainers in the sector included Kronos Worldwide,
Inc. (NYSE: KRO), and Valhi, Inc. (NYSE: VHI).
In trading on Tuesday, energy shares rose by just 0.1 percent. Meanwhile, top losers in the sector included CGG SA (ADR)
(NYSE: CGG), down 29 percent, and Matrix Service Co
(NASDAQ: MTRX), down 7 percent.
Top Headline
CVS Health Corp (NYSE: CVS) delivered better than
expected EPS for the third quarter though revenue missed. However, the company offered downbeat guidance for the fourth quarter and
next year.
CVS Health reported adjusted EPS of $1.64, beating expectations by $0.07. Its revenue rose 15.5 percent to $44.6 billion,
missing estimates by $0.69 billion.
The company offered adjusted EPS forecast of $1.64 to $1.70 for the fourth quarter, versus expectations of $1.79. CVS lowered
and narrowed full year adjusted EPS from $5.81-$5.89 to $5.77-$5.83. For the full year 2017, CVS expects adjusted EPS of
$5.77-$5.93, versus estimates of $6.53.
Equities Trading UP
Stone Energy Corporation (NYSE: SGY) shares shot up
31 percent to $5.26 folloiwng Q3 results. Stone Energy reported a Q3 adjusted loss of $7.40 per share.
Shares of Osiris Therapeutics, Inc. (NASDAQ: OSIR)
got a boost, shooting up 24 percent to $5.19. Osiris Therapeutics expects that 2014 will restate revenue to $46 million-$50
million. The company projects 2015 revenue of $85 million to $90 million and FY16 revenue of$100 million to $110 million.
Addus Homecare Corporation (NASDAQ: ADUS) shares
were also up, gaining 15 percent to $30.00 after the company posted strong Q3 results.
Equities Trading DOWN
Hertz Global Holdings, Inc (NYSE: HTZ) shares dropped
34 percent to $23.58 after the company reported weaker-than-expected results for the third quarter and provided downbeat forecast
for the full year.
Shares of BioScrip Inc (NASDAQ: BIOS) were down 47
percent to $1.38. BioScrip reported a Q3 loss from continuing operations of $0.12 per share on revenue of $224.5 million. The
company also raised its FY16 sales outlook.
OneMain Holdings Inc (NYSE: OMF) was down, falling
around 38 percent to $17.02 on weak Q3 earnings. Several analysts downgraded the stock following results.
Commodities
In commodity news, oil traded up 0.09 percent to $44.93 while gold traded down 0.31 percent to $1,275.40.
Silver traded up 1.12 percent Tuesday to $18.36, while copper rose 2.81 percent to $2.37.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 gained 0.32 percent, the Spanish Ibex Index rose 0.20 percent, while
Italy’s FTSE MIB Index surged 0.48 percent. Meanwhile the German DAX climbed 0.24 percent, and the French CAC 40 rose 0.35 percent
while U.K. shares rose 0.53 percent.
Economics
The NFIB small business optimism index rose to 94.9 in October, versus a reading of 94.1 in September.
The Johnson Redbook Retail Sales Index declined 0.2 percent during the first week of November versus October.
The Treasury will auction 3-year notes at 1:00 p.m. ET.
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