Biggest S&P 500 Movers on Tuesday

Advancers

• Shares of medical device maker ResMed (RMD) logged the top performance of any stock in the S&P 500 on Tuesday, soaring 7.3%. A recent report from Transparency Market Research predicted a solid 8.5% compound annual growth rate (CAGR) for the sleep apnea devices market, where ResMed is a major player. Researchers believe government efforts to regulate sleep disorders, improved diagnostic processes, and aging global populations will drive market growth. In addition, Zacks Equities Research recently highlighted ResMed as a top momentum stock, citing an ongoing uptrend combined with strong earnings fundamentals.
• ResMed was not the only medical technology provider that enjoyed a positive trading day. Insulet (PODD) shares jumped 6.6% after the Food and Drug Administration (FDA) cleared the company's Omnipod 5 insulin pump for use by patients with type 2 diabetes. The approval makes Omnipod 5 the first automated insulin delivery system to receive a green light from regulators for managing both type 1 and type 2 diabetes.

• Shares companies across the travel industry moved higher after Singapore-based travel platform Trip.com (TCOM) posted better-than-expected quarterly sales a♏nd profits, boosted by a growing number of travelers and strong cross-border demand in Chinese markets. In addition, a report by Zacks Equities Research said strong booking and pricing trends could drive near-term growth for cruise operators. Shares of Royal Caribbean Cruises (RCL), Norwegian Cruise Line (NCLH), and Carnival (CCL) gained 4.3%, 3.6%, and 2.7%, respectively.

Decliners

• Walgreens Boots Alliance (WBA) shares tumbled 9.0%, suffering the steepest daily loss in the S&P 500. The pharmacy giant's stock dropped after Eli Lilly (LLY) announced plans to 澳洲幸运5官方开奖结果体彩网:launch a cheaper version of its popular weight-loss treatment, which could have a negative impact on Walgreens sales. The company is also navigating challenges related to lower reimbursement rates for prescription drugs, as well as high levels of inflation and competition.
• Paramount Global (PARA) shares slid 7.2% after reports media executive Edgar Bronfman Jr. withdrew his proposal to purchase the entertainment firm. Uncertainties about how he would finance the deal reportedly contributed to Bronfman's decision to abandon the bid. Following Bronfman's exit, Paramount now appears set to move forward with its previously agreed-upon deal to be acquired by production company Skydance Media.
• Shares of building materials provider Martin Marietta Materials (MLM) sank 4.3%. Although Morgan Stanley boosted its price target on the stock, citing predicted strength in the U.S. cement market, reports of significant share sales by company insiders suggest a potential lack of confidence in the firm's upcoming performance. Shares of industry peer Vulcan Materials (VMC) were down 4.1% on the day.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Nvidia Earnings Could Affect These AI Stocks

Nvidia's quarterly results 澳洲幸运5官方开奖结果体彩网:could lead to big moves in the company's share price and influence shares of several other AI stocks, including partners like Micron Technology (MU) and Arm Holdings (ARM), and affect the 澳洲幸运5官方开奖结果体彩网:broader market.

Micron Technology 澳洲幸运5官方开奖结果体彩网:provides Nv🌳idia with memory solutions for its AI chips, while Nvidia uses 澳洲幸运5官方开奖结果体彩网:Arm-based systems in a variety of its products.

Taiwan Semiconductor Manufacturing Company (TSM), which manufactures Nvidia chips, could also be affected by its earnings, as well as Dell Technologies (DELL), which 澳洲幸运5官方开奖结果体彩网:uses Nvidia chips in its products.

-澳洲幸运5官方开奖结果体彩网:Naomi Buchanan

Can Nvidia Score Another Earnings-Fueled Rally

Nvidia (NVDA) stock rose Tuesday as market participants anxiously awaited what some analysts have called the "most important tech earnings in years.༒"

The company has blown past earnings expectations in recent quarteဣrs, sending the stock soarin🔴g.

Shares jumped more than 9% on May 23, the day after the chipmaker reported 澳洲幸运5官方开奖结果体彩网:record quarterly revenue and profit, and announced a 10-for-1 stock split. They went 🍰on to rise more than 27%♋ in the following two weeks.

The company’s 澳洲幸运5官方开奖结果体彩网:fiscal 2024 fourth-quarter results were even more explosive. Shares jumped 16% in one day, adding a 澳洲幸运5官方开奖结果体彩网:record $272 billion to the company’s 澳洲幸运5官方开奖结果体彩网:market cap. By the end of the week, Nvidia’s market value had increased by more than 澳洲幸运5官方开奖结果体彩网:$300 billion, and within two weeks its s༺hares⛎ had risen more than 30%. 

The stock has faced increased turbulence in the last two months amid concerns about the rollout of Nvidia's next-generation AI chip and the longevity of the AI rally. The company has also recently had to contend with reports that its next-generation Blackwell chip may be delayed

Mಞorgan Stanley analysts in a note Sunday said the effects of product delays are likely overblown, but high expectations pose ♏a risk to the stock.

Read the 澳洲幸运5官方开奖结果体彩网:full article here.

-澳洲幸运5官方开奖结果体彩网:Colin Laidley

Super Micro Falls as Short Seller Issues Report

Super Micro Computer (SMCI) shares slipped Tuesday after short seller Hindenburg Research disclosed a 澳洲幸运5官方开奖结果体彩网:short position in the artificial intelligence (AI) technology firm.

Hindenburg’s report accused Super Micro Computer of “accounting manipulation, sibling self-dealing and sanctions evasion." The shares, which dropped substantially in premarket trading, were recently down nearly 3%.

 The report, the claims of which Investopedia hasn't independently verified, describes a three-month investigation by Hindenburg into Super Micro that included interviews with former senior employees. It alleges major 澳洲幸运5官方开奖结果体彩网:accounting lapses, including undisclosed  and failure to comply with 澳洲幸运5官方开奖结果体彩网:export controls. The company did not immediately respon🧔d to a request ༒for comment.

Super Micro Computer, which makes server technology and hardware used in data centers, has been a 澳洲幸运5官方开奖结果体彩网:major beneficiary of the AI boom. As an Nvidia (NVDA) partner, Super Micro has shared in some of the gains made by the market's AI darling, and its hardware is found in some Nvidia data center technology—including that used by 澳洲幸运5官方开奖结果体彩网:Elon Musk's AI company, xAI.

Shares of Super Micro have nearly doubled in 2024, although its price is down more than 50% from its March peak. The company earlier this month reported fiscal fourth-quarter earnings that 澳洲幸运5官方开奖结果体彩网:missed analysts' estimates and announced a 10-for-1 stock split.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Paramount Slides as Bronfman Pulls Bid

Paramount Global (PARA) was among the big decliners in the S&P 500 Tuesday following news that 澳洲幸运5官方开奖结果体彩网:Edgar Bronfman Jr. has withdrawn from bidding 𒁃for Shari Redstone's media empire, setting the stage for the entertaiꦫnment giant to be sold to David Ellison's Skydance Media.

The special committee handling the 澳洲幸运5官方开奖结果体彩网:twists and turns of the 澳洲幸运5官方开奖结果体彩网:months-long bidding process for Paramount said that it is closing the door on the company's "go-shop" period and plans to move forward with the 澳洲幸运5官方开奖结果体彩网:Skydance Media deal. The committee said that it had "contacted more than 50 third parties" to see 🍸if they were inte🅺rested in bidding for Paramount.

Paramount shares were down more than 6% in afternoon trading. The stock has lost nearly 40% of its value since the start of the year.

-澳洲幸运5官方开奖结果体彩网:Nisha Gopalan

Hims & Hers Shares Sink Amid Lilly Competition

Shares of Hims & Hers Health (HIMS) sank in intraday trading Tuesday on new competition for lower-priced weight-loss drugs from Eli Lilly (LLY).

Lilly 澳洲幸运5官方开奖结果体彩网:announced that it would be selling the two lowest doses of its popular injectable obesity drug Zepbound in single-use ♕vials that patients would m𒀰easure themselves.1

Lilly said those would be priced at half the cost of the pre-filled vials currently prescribed. In addition, the medicine would be sent through the company's LillyDirect self-pay channel, helping those not eligible for Zepbound's savings program or without insurance coverage to afford it.

That was bad news for Hims & Hers Health, which offers direct-to-consumer copycat versions of prescription drugs at reduced prices. In May, it began selling an injectable with the same key ingredient that's in Novo Nordisk's (NVO) popular weight♛-loss 🍷treatments Wegovy and Ozempic.

Hims & Hers also said in its recent earnings call that it planned to have one similar to Zepbound "in the near future."

Hims & Hers shares wer🔥e down 7% in recent trading, at their lowest level since M꧃ay.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Eli Lilly Near Record High After Zepbound News

Eli Lilly (LLY) reached a key supply milestone Tuesday, 澳洲幸运5官方开奖结果体彩网:announcing the launch of single-dose vi🍎als♍ of Zepbound, one of the company's popular weight-loss drugs.

The vials will be at least half the price of other versions of Zepbound and Mounjaro, Eli Lilly's other weight-loss drug, along with competitors such as Novo Nordisk's (NVO) Ozempic and Wegovy. In its standard version, the drugs come in an injection pen that take longer to make because they contain both the medicine and the syringe, while cu�ꦑ�stomers will be able to use the easier-to-make vials with any syringe to inject themselves.

The drugs will be available through Eli Lilly's 澳洲幸运5官方开奖结果体彩网:🦄direct-t🌟o-consumer platform LillyDirect, the company's attempt to the bypass the need ཧfor traditional pharmacies by filling pr♐escriptions for its medications online.

Eli Lilly shares were up 1.5% in recent trading near a record high. The stoc🌳k has gained 67% so far this year.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Major Index Futures Move Lower Tuesday

Futures tied to the Dow Jones Industrial Average were down 𝔍0.2%.

S&P 500 futures were down also down 0.2%.

Nasdaq 100 futures were off 0.2%.