Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average fell Tuesday as shares of Walgreens Boots Alliance (WBA) - Get Report declined after the Dow component missed earnings estimates.
- Dow Inc. (DOW) - Get Report shares climbed 4.8% to $56.04 in their debut on the New York Stock Exchange.
- Shares of Lyft (LYFT) - Get Report fell slightly in their third day of trading following the ride-hailing company's blockbuster initial public offering last week.
Wall Street Overview
Walgreens missed Wall Street's fiscal second-quarter earnings expectations, and cautioned that 2019 profits would be "roughly flat" from the previous year. Shares tumbled 12.81% to $55.36.
Investors also weighed better-than-expected factory data from the U.S. and China against evidence that the trade war between the two countries was hurting growth in other parts of the world. While private studies showed modest factory improvements for both countries, other countries, such as Germany and Japan, saw readings sink to multi-year lows as a result of the U.S.-China trade war.
The Dow Jones Industrial Average, snapping a three-day win streak, closed down 79 points, or 0.30%, at 26,179; the S&P 500 was unchanged; and the Nasdaq rose 0.25%.
U.S. factories reported a bigger-than-expected drop in new orders for long-lasting machinery and equipment in February, driven by a plunge in aircraft orders even before the Ethiopian Airlines crash of a Boeing (BA) - Get Report 737 MAX plane in March. The U.S. Census Bureau said orders for manufactured durable goods fell by 1.6% to $250.6 billion. Economists surveyed by FactSet had expected a 0.8% drop, on average. In January, durable goods orders rose by a revised 0.1%
Shares of Delta Air Lines (DAL) - Get Report took off after the Atlanta, Georgia-based air carrier said it expects to earn between 85 cents and 95 cents per share during the first quarter, up from its previous estimate of 70 cents to 90 cents. Shares rose 6.1% to $55.36.
Amazon (AMZN) - Get Report will lower prices on more than 500 items sold at Whole Foods as the company looks to shake its reputation for being a high-cost grocery option. The price cuts, which will average about 20%, will affect fresh produce and expand benefits for Amazon Prime members who will now get more exclusive weekly deals across departments. Shares rose slightly to $1,813.98.
Dow Inc. (DOW) - Get Report shares climbed 4.8% to $56.04 in their New York Stock Exchange debut, while also being added to the Dow Jones Industrial Average. The company was formally spun off from parent DowDuPont (DWDP) - Get Report .
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