Equity Indexes Wrap: Widespread Sell-Off Tanks Indexes, Le♛aves Few ꦐBright Spots

The Dow

Disney (DIS) was one of only five companies in the Dow to close in the green on Tuesday. It rose 1.1% t🍸o lead the index’s small cohort of ꧒gainers.

Walgreens Boots Alliance (WBA) led the Dow’s laggards, falling 4.8%. It was trailed by Goldman Sachs (GS), down 3.6%, and Dow (DOW), which lost 2.9%. 

Cisco (CSCO) share꧂s slipped 0.7% ahead of its earnings report aft🐬er markets close tomorrow. 

Walmart (WMT) slid 0.7% amid reꦆports it was in talks to buy smart TV maker Vizio. 

Coca-Cola (KO) dipped 0.6% despite 澳洲幸运5官方开奖结果体彩网:reporting better-than-expected fourth-quarter sales, as higher prices offset lower volumes. 

The S&P 500

Ecolab (ECL) rose 9% after narrowly beati🌌ng earnings expectations and offering an upbeat full-year outlook.&nbꦬsp;

Leidos (LDOS) reported better-than-expected earnings, send💝ing its stock 5.9% ꦡhigher. 

Waste Management (WM) also added 5.9% 🍌after topping Wall Street estim𒅌ates with its fourth-quarter earnings. 

Moody’s (MCO) led theꦿ index lower, sinking 8.1% after missing earnings estimates. 

Zoetis (ZTS) also fell short of earnings expectations, though it beat on sales. Still, shares fell 6.7%.✱

Amazon (AMZN) fell 2.2%, giving up its title as America’s fourth-most valuable company to Nvidia (NVDA), which dipped just 0.2%.

Hasbro (HAS) slid 1.4% after 澳洲幸运5官方开奖结果体彩网:reporting sales fell 23% year-over-year in the fourth quarter. 

The Nasdaq 100

Just 6 of the Nasdaq’s 100 stocks rose on Tuesday. They were led by American Electric Power Co. (AEP), which rose 1.5% after giving in to pressure from activist investor Carl Icahn and naming two new appointees to its board. O’Reilly Automotive (ORLY) gained 1.3%.

Biogen (BIIB) tumbled 7.4% after reporting 澳洲幸运5官方开奖结果体彩网:its quarterly earnings took a hit from the discontinuation♏ of its Alzheimer’s drug Aduhelm and𓂃 weaker sales of its multiple sclerosis medicines.

Marriott International (MAR) sank 5.6% after it 澳洲幸运5官方开奖结果体彩网:missed earnings estimates and offered softer-than-expected💜 𒉰full-year guidance as the post-pandemic travel boom eases.

DataDog (DDOG) lost 2.ღ4% after its full-year earnings and ♏sales guidance fell short of Wall Street’s estimates. 

GlobalFoundries (GFS) slid 2.1% following a weaker-than-expected full-year🐭 earnings forecast. 

JetBlue Stock J♐umps After Carl Icahn Discloses Almost 10% Stake

Shares of JetBlue Airways (JBLU) soared more than 20% Tuesday following news that activist investor 澳洲幸运5官方开奖结果体彩网:Carl Icahn had acquired a 9.91% stake in the carrier.

Icahn said in a regulatory filing late Monday that he bought the shares "in the belief that they were undervalued and represented an attractive investment opportunity."

Icahn's stake—valued at $204 million based on JetBlue's Monday close—makes Icahn the airline's third-largest shareholder behind BlackRock and Vanguard Group, according to data compiled by Bloomberg.

JetBlue shares were up 20.9% at $7.34 la𝕴te in the session Tuesday. Still, the stock has lost about 14% of♊ its value in the past year.

-澳洲幸运5官方开奖结果体彩网:Fatima Attarwala

Ec💃olab Stoc🍒k Leads S&P 500’s Few Gainers After Earnings Beat

Shares of Ecolab (ECL) were higher Tuesday after the water and hygiene services provider edged past fourth-quarter earnings and sales exp💮ectations. 

Ecolab reported adjusted net income of $445 million, or $1.55 per share, a more than 20% increase from the year-ago quarter. Revenue increased 7% to $3.94 billion. Both just narrowly surpassed the consensus among Wall Street analysts. 

The company also offereඣd upbeat earni𒁏ngs guidance, forecasting full-year adjusted earnings per share of between $6.10 and $6.50. That would represent a 17% to 25% increase over 2023. 

Ecolab shares were up 8.8% Tuesday afternoon, putting them on track for their best day since November 2020. With Tuesday’s gains, Ecolab sha🍌res ha꧋ve gained 49% in the past year.

Hasbro Stock Falls as Sales Sink, and the Toy Ma♎ker Warns of 🅘More Declines Ahead

Hasbro (HAS) shares fell Tuesday as the toy giant reported i꧙ts revenue plunged and warned of slowing demand amid difficult economic conditions♊.

The maker of G.I. Joe and Star Wars toys posted an unadjusted loss of $7.64 per share for the fourth quarter, compared to a loss of 93 cents a year ago. Adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) came in at 38 cents, well short of forecasts. Revenue sank 23% from a year earlier to $1.29 billion.

Sales at the company’s Entertainment segment cratered 49%, and sales at its Consumer Products unit were down 25%. Hasbro noted sales in its Wizards of the𒀰 Coast and Digital Gaming segment grew 7%.

Hasbro said it anticipates full-year revenue for its Consumer Products unit falling 7% to 12%, with 澳洲幸运5官方开奖结果体彩网:pro-forma Entertainment segment sales down $15 million, and revenue for the Wizards of the Coast and Digital Gaming segment sliding 3% to 5%. The company added that it has boosted its planned cost cuts by the end of 2025 to $750ও million per year from the previous target of $350 million to $400 million per year.

Shares of Hasbro were 3% lower at $49.77 Tuesday afternoon. They've lost more than 15% of their value over the past year.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Coca-Cola's Q4 Sales Pop as Higher Prices Offset Lower Volume in North America

The Coca-Cola Company (KO) handily beat analyst estimates f෴or sales in t🐼he fourth quarter.

澳洲幸运5官方开奖结果体彩网:Net income for the quarter fell about 3% from a year ago to $1.977 billion or 46 cents per diluted share. Excluding certain items and currency impact, adjusted earnings per share came in at 49 cents per diluted share, in line with 澳洲幸运5官方开奖结果体彩网:analyst estimates compiled by Visible Alpha.

Sales revenue rose about 7% to $10.85 billion,🐎 driven by higher prices. Net of currency impact, organic revenues grew 12% on the back of 25% growth in Europe, the Middle East, & Africa; 23% in Latin America; and 13% in Asia Pacific. In North America, higher prices helped offset the impact of lower sales volume.

The company expects to grow its organic revenue🌳 by 6%-7% and adjusted E🌌PS by 4%-5% in 2024 but said it faces a 4% currency headwind in the first quarter of the year.

Shares of Coca-Co🏅la jumped in early trading♌ before retreating to trade down about 0.8% at $59.21 early in the afternoon.

-澳洲幸运5官方开奖结果体彩网:Mrinalini Krishna

Biogen Tumbles as Drug Closeout Costs, Multip🤪le Sclerosis Medicine Sales W🐠eigh on Profit

Biogen (BIIB) shar💎es fell over 5% in early trading Tuesday after the biotech firm posted weaker-than-expected results, weighed down by costs for discontinuing a controversial Alzheimer’s drug, Aduhelm, and slowing sales of multiple sclerosis medicines.

The company reported fourth-quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.95, wi🦩th revenue falling 6% from a year ago to $2.39 billion. Both missed est🅘imates.

Biogen said that EPS was negatively impacted by 35 cents, related to previously disclosed closeout expenses for Aduhelm. Earlier this month, the company announced that it was discontinuing the development and commercialization of the treatment, which 𒉰faced criticism about its effectiveness and costs.

Sales of Biogen’s multiple sclerosis treatmen🐽ts, the firm’s biggest revenue 👍producer, slumped 8% to $1.17 billion as they faced stiffer competition. 

Biogen shares were down 6.3% a𒊎t $229.40 midday Tuesday. They have lost about one-fifth of their value over the past year.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Tripadvisor Stock Jumps on News of🌞 Committee to Consider Deal Proposals

Tripadvisor (TRIP)🍨 shares surged 13% Tuesday morning after the online travel 🐻review and advice company said that it had established a special committee to consider potential deal proposals, indicating its willingness to explore strategic opportunities.

According to a statement released on the company’s website, the special committee will comprise independent members of Tripadvisor’s 澳洲幸运5官方开奖结果体彩网:board of directors and have a mandate to “evaluate any proposals that may be brought forward for a potential transaction, and any alternatives thereto, with regard to Tripadvisor.”

The company cautioned that no transaction was assured, and the committee "has not made any decisions with respect to a potential transaction." It added that a possible deal would be subject to further checks and balances and require the approval of both the board and special committee.

Tripadvisor shares formed a 澳洲幸运5官方开奖结果体彩网:double bottom pattern between May and November last year, before promptly reclaiming a key area of support around $17.10. Since then, the stock has continued its push higher apart from several modest 澳洲幸运5官方开奖结果体彩网:retracements toward the 澳洲幸运5官方开奖结果体彩网:50-day moving average. If the price continues to climb, keep an eye out on the chart for a 澳洲幸运5官方开奖结果体彩网:zone of resistance between $27 and $28 near the August 2022 and February 🐠2023 swing highs.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Arista Networks Stock Sl🔯ips After Less-than-Perfect Earnings, 💖Forecast

Shares of cloud networking company Arista Networks (ANET) slumped Tuesday morning after its🌊 quarterly earnings topped analysts’ estimates but failed to satisfy investors. ꦦ;

Arista reported net income of $614 million, or $1.92 per share, compared with earnings of $427 million, or $1.35 a share, in the year-ago quarter. Revenue grew nearly 21% year-over-year to $1.54 billion. Both sales and profit came in above the Wall Street consensus. 

The company forecast current-quarter revenue of between $1.52 and $1.56 billౠion, about in line with analysts’ estimates. Adjusted gross margin is expected to contract slightly to 62%, down from 64.9% in the four💜th quarter.

Expectations had been high heading into Arista’s earnings. Sh😼ares had doubled in the 12 months leading up to Tuesday, and were up more than 20% year-to-date. 

The stock traded 4% lower 💎aꦬt $269.73 Tuesday morning. 

Bond Yields Soar as Traders Pare Rate Cut Bets

Treasury yields soared on Tuesday morning after January consumer inflation data came in 澳洲幸运5官方开奖结果体彩网:hotter than expected, leading traders to rein𓃲 in their expectations for this year’s 🥃rate cuts. 

The yield on the 10-ye🍌ar Treasury jumped above 4.25% for the first time in two months. The 2-year note soared past 4.ꦗ9%. 

And traders further pared their bets that the Fed will cut interest rates in the first half of this year. A month ago, federal funds rate futures trading data suggested markets were pricing in a 77% chance of a rate cut at the Fed’s March meeting. After Tuesday’s data, those odds stood at just 5%.

Even a May rate cut is looking less and less likely. A month ago, markets saw a 0🧜% chance of the federal funds rate staying at its current 22-year high in May. Traders now s🏅ee a 60% chance of that.

Stocks Making the Biggest Moves Premarket

Gains:

• ZoomInfo Technologies Inc. (ZI): Shares of the sales and marketing software maker jumped 16% after it topped Wall Street estimates with its quarterly earnings and sales. 
• JetBlue Airways Corp. (JBLU): Shares of the airline surged more than 12% after activist investor Carl Icahn revealed a 10% stake in the company. 
• TripAdvisor Inc. (TRIP): Shares of the online travel company jumped more than 11% after the company said it had formed a committee of directors to evaluate “any proposals that may be brought forward for a potential transaction.”
  

Losses:

• Shopify Inc. (SHOP): Shares of the cloud e-commerce platform sank 12% despite beating expectations with its quarterly earnings and sales. Shares had risen 83% in the year leading up to Tuesday’s report. 
• Arista Networks Inc. (ANET): The cloud networking company’s shares fell nearly 10% after its fourth-quarter earnings and sales topped analyst estimates. It forecast first-quarter revenue slightly above expectations. 
• DataDog Inc. (DDOG): Shares of the data analytics platform developer fell 6% after its full-year earnings and sales guidance fell short of analysts’ expectations. 

Stock Futures Fall Ahead of January CPI

Futurꦑes contracts connec𒀰ted to the Dow Jones Industrial Average were down 0.2% in premarket trading on Tuesday.

S&P 500 futures traded 0.4% lower.

Nasdaq 100 futures were down 0.7%🌳 a little over an hour before markets opened.