Biggest S&P 500 Movers on Tuesday

Decliners

• Health care stocks remained under pressure following President-elect Donald Trump's comments about removing the "middleman" in the prescription drug markets. Humana (HUM) shares lost 10.2%, the steepest daily drop of any S&P 500 stock on Tuesday, after Piper Sandler analysts flagged earnings risks related to certain plans that provide coverage to military veterans. CVS Health (CVS) shares sank 5.5%, extending a string of recent losses posted as political sentiment against the 澳洲幸运5官方开奖结果体彩网:pharmacy benefit management (PBM) business gathers steam.
  
• Shares of government technology provider Amentum Holdings (AMTM) tumbled 9.7%. Although the company swung to a fourth-quarter profit from a loss a year ago, Amentum executives said on the company's earnings call that they expect a winding down of certain government programs to 澳洲幸运5官方开奖结果体彩网:weigh on growth in fiscal 2025.
• Broadcom (AVGO) shares sank 3.9%, reversing a small portion of a massive run-up in the stock over the past few sessions as the markets digested the chipmaker's strong earnings results, artificial intelligence (AI) growth, and 澳洲幸运5官方开奖结果体彩网:collaboration with Apple (AAPL) on an AI server chip. Despite Tuesday's drop, Broadcom's market capitalization remains above the $1 trillion threshold, which 澳洲幸运5官方开奖结果体彩网:it pierced for the first time last week.

Advancers

• The top performance in the S&P 500 on Tuesday belonged to shares of Pfizer (PFE), which jumped 4.7% after the pharma and biotech giant provided guidance for fiscal 2025. The company's full-year profit forecast was essentially in line with analysts' estimates, and Pfizer anticipates sales of its COVID-19 vaccine and medication to remain consistent with 2024 levels.

• Fox Corp. (FOXA) shares added 4.3% following reports that FOX News posted a record of more than 400 million views on YouTube during November, topping all other news platforms. FOX News also holds an advantage over its competitors regarding cable TV ratings and social media engagement. Fox Corp. Class B (FOX) shares were up 4.1%.
• Tesla (TSLA) shares built on the previous session's record high, advancing 3.6% on Tuesday. Mizuho became the latest research firm to boost its view on the electric vehicle (EV) juggernaut, upgrading Tesla stock to "outperform" from "neutral" and more than doubling its price target. Echoing other analysis, Mizuho cited expectations for more relaxed self-driving regulations and other tailwinds for Tesla under the incoming presidential administration.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

What You Need to Know Ahead of Fed's Rate Decision

The Federal Reserve's Open Markets Committee kicked off its two-day meeting Tuesday.

The Fed is widely expected to cut the key federal funds rate by a quarter percentage point this week, but it's unclear what the committee could project for 2025 in its Summary of Economic Projections, which will be released Wednesday alongside the statement on the rate decision.

Market participants and economists will be paying attention to Fed Chair Jerome Powell's message when he addresses reporters at the close of the meeting on Wednesday afternoon.

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:Taylor Tompkins

Shares of Teva and Sanofi Soar After Positive Drug Test Results

U.S.-traded shares of Teva Pharmaceuticals () and Sanofi (SNY) took off Tuesday after the two drugmakers reported positive🔯 results from a study of their treatment for ulcerative coliti🧜s (UC) and Crohn’s disease.

A press release from Teva on Tuesday said the Phase 2b trial of the human🍃 monoclonal antib🥃ody duvakitug found that the substance met the primary endpoints.

It noted that UC patients given a low dosage and high dosage of the drug achieved clinical remission of 36.2% and 47.8%, respectively, higher than those receiving a placebo. For Crohn's disease patients, the results were 26.1% and 47.8%, respectively, also above those taking a placebo.

Dr. Houman Ashrafian, head of 澳洲幸运5官方开奖结果体彩网:research & development at Sanofi, said theꦕ results ꦆshow “that duvakitug could represent the next frontier in treating ulcerative colitis and Crohn’s disease.” 

Teva and Sanofi said they plan to launch a Ph൩ase 3 trial for duvakitug pending regulatory discussions.

Teva's U.S.-traded shares were at their highest level in six years Tuesday, up 27% at $20.90 recently. The stock has almost doubled in price this year. Sanofi's U.S.-traded shares moved up 7% to $49.10 and are near unchanged since the start of 2024.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Amentum Plunges on Expected Winding Down of Government Programs

Amentum Holdings (AMTM)🐽 swung to a fourth-quarter profit but shꦉares sank Tuesday when executives said in the company's earnings call that they see fiscal 2025 growth being affected by an expected winding down of certain government programs.

The government technology provider reported fourth-quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.28, compared with a loss of $0.07 per share a year ago. Revenue rose 3.5% year-over-year to $2.21 billion. It affirmed its full-🅘year guidance and added a fiscal 2025 adjusted EPS estimate of $2.00 to $2.20.

However, Chief Financial Officer Travis Johnson said on the company's earnings call that "growth driven by new program awards ... is expected to be partially offset by the wind down of certain historical programs," according to a transcript provided by AlphaSense.

Amentum joined the 澳洲幸运5官方开奖结果体彩网:S&P 500 Index on Sept. 30 after it was spun off from engineering and construction company Jacobs Solutions (J) following its merger with the latter's Critical Mission Solutions and Cyber and Intelligence businesses.  However, that was short-lived, as S&P Dow Jones Indices announced earlier this month that Amentum would be removed from t♎he index and placed in the S&P SmallCap 600 Index, effective Dec. 23.

The stock was down 10% in recent trading, leading S&P 500 decliners today.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

EVgo Plunges as Biggest Investor Sells 23 Million Shares

Shares of EVgo (EVGO) tumbled Tuesday when the electric vehicle (EV) charging station operator announced a 澳洲幸运5官方开奖结果体彩网:secondary public offering of its stock by its largest investor.

The company reported that EVgo Holdings, an affiliate of LS Power Equity Partner꧂s, is planning to sell 23 million shares of Claꦆss A common stock, and intends to give the underwriters a 30-day option to purchase an additional 3.45 million shares at the public offering price. 

EVgo noted that it was not putting any of its shares on the market, and the💞 proceeds of this sale will go entirely 🅰to LS Power.

While EVgo did not detail EVgo Holdings' Class A stock stake, the company did show that it owns 195.8 million shares of Class B stock, giving EV Holdings 66.5% of EVgo's total investor voting power.

Last week, EVgo said it had closed on $1.25 billion in Department of Energy loan guarantees to install 7,000 EV chargers throughout the country over the next five years. However, its warning🅷 that its business would "be materially and adversely affected" if it failed to meet the loan ✨conditions sent shares lower.

Despite losing of roughly a quarter of its val♏ue Tuesday, shares of EVgo are up about 30% in 2024.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Pfizer Rises as 2025 Outlook in Line With Expectations

Pfizer (PFE) shares ros𒁃e Tuesday morning after the pharmaceutical company affirmed its full-year 2024 projections and issued 2025 revenue and adjusted profit guidance in line with analysts' estimates.

Pfizer said it expects 2024 revenue to range from $61 billion to $64 billion, with adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) projected between $2.75 and $2.95. Acco🐲rding to estimates compiled by Visible🅘 Alpha, analysts project $63.01 billion in revenue and adjusted earnings of $2.93 per share.

For 2025, Pfizer projects the same revenue range, while analysts see a slight bump to $63.24 billion. Pfizer expects its adjusted EPS will rise slightly to $2.80 t🅷o $3.00, while analysts project $2.89.

Pfizer was successful in its goals to cut $4 billion in costs by the end of 2024, the company said Tuesday, with an additional $500 million in savings expected to be realized over the next year. The drugmaker has 澳洲幸运5官方开奖结果体彩网:returned to revenue growth in its two 澳洲幸运5官方开奖结果体彩网:most recent quarters for the first time since sales 🦋of its COVID vacci✃ne peaked.

Pfizer shares recently traded up nearly 4%, leading S&P 500 gainers, but are still down about 9% this year.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Supermicro Price Levels to Watch After Recent Slump

Super Micro Computer (SMCI) shares moved higher in early trading Tuesday after tumbling yesterday following news that the stock will be 澳洲幸运5官方开奖结果体彩网:removed from the Nasdaq 100 Index and reports that the embattled server maker is exploring ways to 澳洲幸运5官方开奖结果体彩网:raise capital.

The stock has had a volatile year, rising to a closing high of $119 in March on the back of 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI)-driven demand before plummeting in mid-November to around $18 following fears of a potential Nasdaq 澳洲幸运5官方开奖结果体彩网:delisting after accounting anomalꦉies led to delayed financial rep💞orting. 

Over the past month, Supermicro shares have recovered 80% after the company hired a new auditor and secured a 澳洲幸运5官方开奖结果体彩网:filing extension until Feb. 25, but had lost nearly a quarter o🐓f their value in the previous five trading sessions as investors assess the company’s outlook.

The stock was up 4% at around $35 about an hour into Tuesday's trading session.

Supermicro shares registered a decisive close below the 澳洲幸运5官方开奖结果体彩网:50-day moving average on Monday. The 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) confirms 𓆉weakening price momentum, with the indicator flashing a reading below 50 for the first time ওsince late November.

Investors should watch major support levels on Supermicro's chart around $26 and $18, while also monitoring crucial resistance levels near $39 and $50.

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

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Dow Futures Lower as Index Rides 8-Day Losing Streak

The Dow Jones Industrial Average is poised to open lower again Tuesday, with the index riding its longest daily losing streak in six 𝔉years.

The Dow has 🦄closed lower in eight straight sessions, giving up nearly 3% over that period. The S&P 500 is near unchanged over the same period, while ꦰthe Nasdaq Composite has gained 2.2% and hit new record highs.

Tesla Price Levels to Watch as EV Maker Continues to Rally

Tesla (TSLA) shares are moving higher again Tuesday, 澳洲幸运5官方开奖结果体彩网:extending a post-election rally  that has sent the sto✃ck soariಌng to record highs.

Wedbush on Monday lifted its price target to $515 from $400 but noted that the stock could reach as high as $650 by the end of next year, arguing that the incoming Trump administration will give the legacy EV maker’s self-driving and 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) initiatives a boost.

The stock was up 2.5% at around $475 about two hours before Tuesday's opening bell.

Through Monday’s close, Tesla shares have surged about 85% since the start of the year, with most of those gains coming after the Nov. 5 election on optimism that CEO 澳洲幸运5官方开奖结果体彩网:Elon Musk’s close ties with Presi💦dent-elect Donald Trump will streamli🌳ne the automaker’s approval processes.

The shares 💖have trended sharply higher after breaking out 𝓰from an ascending triangle, though the relative strength index signals extremely overbought conditions, which could lead to short-term profit-taking.

Bars pattern analysis, which extracts the stock’s sharp trending move from late June to early July and overlays it from the ascending triangle’s top trendline, forecasts a bullish target of around $5ဣ10.

Investors should monitor key support levels on Tesla's chart near $360, $300, and $265.

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

-澳洲幸运5官方开奖结果体彩网:Timothy Smith