Midway through trading Tuesday, the Dow traded down 0.95 percent to 26,187.81 while the NASDAQ declined 0.66 percent to
7,417.27. The S&P also fell, dropping 0.75 percent to 2,832.22.
Leading and Lagging Sectors
On Tuesday, the non-cyclical consumer goods & services shares gained by 0.15 percent. Meanwhile, top gainers in the sector
included Sears Holdings Corp (NASDAQ: SHLD), up 6
percent, and International Speedway Corp (NASDAQ: ISCA), up 6 percent.
In trading on Tuesday, energy shares tumbled 1.64 percent. Meanwhile, top losers in the sector included Ballard Power Systems
Inc. (USA) (NASDAQ: BLDP), down 8 percent, and
W&T Offshore, Inc. (NYSE: WTI) down 8 percent.
Top Headline
Pfizer Inc. (NYSE: PFE) reported
stronger-than-expected results for its fourth quarter.
Pfizer posted adjusted earnings of $0.62 per share in the fourth quarter on revenue of $13.70 billion. However, Wall Street
analysts were expecting the company to earn $0.56 per share on revenue of $13.68 billion.
Pfizer expects 2018 earnings of $2.90 to $3.00 per share, on sales of $53.5 billion to $55.5 billion. Analysts projected
earnings of $2.78 per share on sales of $53.9 billion.
Equities Trading UP
Thomson Reuters Corp (NYSE: TRI) shares shot up 10
percent to $47.53 after the company confirmed advanced discussions with Blackstone regarding a potential partnership in Financial &
Risk business.
Shares of Callidus Software Inc. (NASDAQ: CALD)
got a boost, shooting up 10 percent to $36.10. SAP SE (ADR) (NYSE: SAP) announced plans to acquire Callidus Software for $36 per share.
Extreme Networks, Inc (NASDAQ: EXTR) shares were
also up, gaining 11 percent to $15.21. Extreme Networks will replace Time Inc. (NYSE: TIME) in the S&P SmallCap 600 on Thursday, February 1.
Equities Trading DOWN
Scotts Miracle-Gro Co (NYSE: SMG) shares dropped 16
percent to $89.78 after the company posted a wider-than-expected quarterly loss.
Shares of Polaris Industries Inc. (NYSE: PII) were
down 11 percent to $119.10 . Polaris posted in-line Q4 earnings, but issued weak sales forecast for FY 2018.
Sun Hydraulics Corporation (NASDAQ: SNHY) was
down, falling around 9 percent to $62.98 after reporting preliminary FY17 sales of $341.5 million-$343.5 million. EPS is expected
to come in at $1.54-$1.58. The company also announced a 4 million-share common stock offering.
Commodities
In commodity news, oil traded down 2 percent to $64.24 while gold traded up 0.10 percent to $1,346.50.
Silver traded up 0.34 percent Tuesday to $17.185, while copper fell 0.11 percent to $3.1905.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 slipped 0.82 percent, the Spanish Ibex Index fell 1.11 percent, while
Italy’s FTSE MIB Index dropped 1.39 percent. Meanwhile the German DAX dropped 0.77 percent, and the French CAC 40 slipped 0.80
percent while U.K. shares fell 1.02 percent.
Economics
The Federal Open Market Committee will begin its two-day policy meeting today.
The S&P Corelogic Case-Shiller home price index rose 0.2 percent for November versus October.
The Conference Board’s consumer confidence index rose to 125.40 for January, versus prior reading of 123.10.
Data on farm prices for December will be released at 3:00 p.m. ET.
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