Closing Bell: Crude Closes at Six-Week Lows; Facebook Tanks Nasdaq

Stocks moved lower as an earnings-driven selloff in Facebook and Fitbit shares dragged on the Nasdaq.

Author:: Keris Alison Lahiff
Publish date:: Nov 3, 2016 4:43 PM EDT

U.S. stocks moved lower as an earnings-driven selloff in Facebook (FB) - Get Report and Fitbit (FIT) - Get Report shares dragged on the Nasdaq. Crude also declined for its fifth session, settling at six-week lows. 21st Century Fox (FOXA) - Get Report beat profit and sales estimates in its recent quarter on strength in its film and TV segments. Higher affiliate fees at Fox News and a strong box office performance for Independence Day: Resurgence drove its results. Small-cap stock Lattice Semiconductor (LSCC) - Get Report rallied after the company agreed to be acquired by Canyon Bridge Capital Partners. The deal values Lattice at a 30% premium to its previous close. Transocean (RIG) - Get Report jumped after besting third-quarter earnings estimates. The offshore oil driller maintained a tight control on expenses and boosted its fleet efficiency over the quarter.