The three major U.S. equity indexes closed lower Tuesday. The Dow Jones industrials dropped 1.23%, the S&P 500 slipped by 0.67%, and the Nasdaq dipped by 0.16%. All 11 sectors ended the day lower, led down the slope by real estate (1.3%), financials and industrials (both down 1.1%).
An unknown attacker on Tuesday drained more than 8,000 Solana wallets of at least $5 million in a variety of cryptocoins. According to a report at CoinDesk, the attacker obtained the ability to sign transactions on behalf of users, “suggesting a trusted third-party service may have been compromised in a so-called supply chain attack.” Early Wednesday, all three equity indexes traded higher.
[in-text-ad]
After markets closed on Tuesday, Airbnb beat analysts’ consensus estimate for earnings per share (EPS) but missed the revenue estimate slightly. Shares traded down by about 4.1% Wednesday morning.
AMD beat estimates on both the top and bottom lines, but a warning on a declining PC market has given investors the jitters. Shares traded down about 2.8% in the morning.
Occidental Petroleum beat top-line and bottom-line estimates. The company also paid down $5 billion in debt, has repurchased $1.1 billion in stock so far this year, and the company has said it will focus on returning capital to shareholders. Investors do not seem too impressed. Shares traded down 1.8% Wednesday morning.
Livent also topped estimates but shares were down about 5% in early trading.
PayPal beat both estimates and issued inline EPS guidance for the current quarter and raised full-year guidance. The $2 billion investment from Elliott Management has resulted in an information sharing agreement with the private equity giant, and investors have rewarded the stock by pushing it up 12.6% Wednesday morning.
Starbucks beat estimates on both the top and bottom lines. The stock traded up about 1.7%.
Before markets opened on Wednesday, Under Armour met the EPS estimate and beat on revenues, and it lowered EPS guidance for the fiscal year while guiding revenue up by 5% to 7% year over year. Shares traded up by about 5%.
24/7 Wall St.Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
