The S&P 500 completed 1.4% decrease after Superior Micro Units (AMD) shares and people of different chip companies declined following its weaker-than-expected third-quarter steering.
Key Takeaways
5 S&P 500 Shares That Posted Positive aspects
Aflac
Shares of insurance coverage agency Aflac (AFL) rose 5.7% after reporting internet earnings of $1.6 billion, up from final yr’s $1.4 billion, boosted by funding features from derivatives and trade fee advantages from its Japanese subsidiary.
Humana
Humana (HUM) shares climbed 5.6% after the medical insurance firm beat revenue estimates after it paid out fewer claims than anticipated for elective surgical procedures.
CVS Well being Company
CVS Well being (CVS) shares gained 3.3% because it beat revenue estimates in its second quarter earnings after implementing cost-cutting measures. The corporate additionally introduced a restructuring effort, which is able to embrace chopping 5,000 jobs.
Vertex Prescription drugs
Vertex Prescription drugs (VRTX) posted a acquire of three.1% after the corporate raised its ahead steering for the yr on demand for its cystic fibrosis therapy. Whole income of $2.49 billion for the second quarter was 14% larger than a yr in the past.
Pioneer Pure Assets
Pioneer Pure Assets (PXD) was larger by 1.5% after the corporate raised its full-year manufacturing steering by 17,000 barrels of oil per day. The corporate adopted the sector development with a 33% drop year-over-year in its income, however second-quarter adjusted earnings beat estimates.
5 S&P 500 Shares That Posted Losses
Generac
Generac (GNRC) was the worst-performing inventory within the S&P 500 with shares dropping 24.4% after the maker of house mills warned falling demand would impression its gross sales.
SolarEdge
SolarEdge (SEDG) shares tumbled 18% after the solar energy firm warned its enterprise was damage by larger borrowing prices, and gave present quarter steering that missed estimates.
Superior Micro Units
Superior Micro Units (AMD) misplaced 7% after its second-quarter earnings launch, with the corporate issuing weak steering for third-quarter income. Wedbush analyst Matt Bryson mentioned the outcomes have been “simply okay,” citing weak point within the firm’s information heart section.
Tesla
Tesla (TSLA) shares misplaced one other 2.7% after information broke late on Tuesday that the automaker was dealing with an investigation into steering issues.
BlackRock
Shares of asset administration large BlackRock (BLK) fell 2% after it and index supervisor MSCI got here below hearth from a Home Committee over investments in Chinese language corporations.