S&P 500 Gains and Losses Today: Merck Stock Plunges on Guidance Cut

Major U.S. equities indexes were mixed for nan 2nd consecutive time arsenic tech stocks mislaid crushed up of cardinal net reports and a decision connected liking rates from nan Federal Reserve.

The S&P 500 mislaid 0.5%, while nan Nasdaq dropped 1.3%. The Dow closed Tuesday's convention 1.5% higher, buoyed by a beardown capacity from respective constituents successful nan financial services sector.

Merck (MRK) shares tumbled 9.8%, posting nan steepest diminution of immoderate S&P 500 banal Tuesday, aft nan pharmaceutical elephantine lowered its full-year net forecast. The trim reflected a one-time complaint related to nan acquisition of ophthalmology biotech institution EyeBio. The stock's losses came contempt a coagulated second-quarter performance, pinch better-than-expected gross and net driven by increasing income of Merck's flagship crab supplier Keytruda,

Shares of CrowdStrike Holdings (CRWD) plunged 9.7% pursuing news that Delta Air Lines (DAL) could writer nan cybersecurity firm for financial damages related to nan global tech outage caused by a CrowdStrike package update earlier this month. Delta has reportedly contracted a rule patient to correspond nan hose and plans to prosecute compensation from Microsoft arsenic good arsenic CrowdStrike.

Ecolab (ECL) shares fell 7.7% aft nan supplier of h2o purification and hygiene solutions fell short of gross estimates pinch its 2nd 4th results. Although EPS somewhat exceeded forecasts and nan institution boosted its full-year net forecast, nan updated outlook missed statement estimates.

Shares of Howmet Aerospace (HWM), which supplies pitchy motor components and aluminum wheels for dense trucks, soared 13.2% pursuing a strong second-quarter net report, notching nan apical regular capacity successful nan S&P 500. Howmet posted better-than-expected income and profits for nan period, pinch its commercialized aerospace section receiving a boost from beardown aerial recreation request and an aging craft fleet. The institution besides accrued its stock buyback authorization and raised its dividend.

F5 (FFIV) shares jumped 13% aft nan online information and cloud-based exertion patient hit expectations gross and net expectations for its fiscal 3rd quarter. An summation successful digitization efforts by companies aiming to capitalize connected artificial intelligence (AI) trends helped assistance request for F5's services and hardware products, while high-profile information breaches and elevated online threat levels led to increasing cybersecurity investments.

A beardown group of net results and an accrued outlook besides helped assistance shares of Stanley Black & Decker (SWK), which added 10% connected nan day. Second-quarter income and profits surpassed analysts' estimates, and nan shaper of devices and business instrumentality lifted its full-year net guidance. Although Stanley Black & Decker said it could spot muted request successful nan remainder of 2024, it touted its attraction connected streamlining its proviso chains arsenic a measurement of driving net and rate travel growth.