S&P 500 Gains and Losses Today: UPS Fails to Deliver on Earnings, Shares Drop

After wavering for overmuch of nan day, awesome U.S. equities indexes slipped successful nan day to extremity Tuesday successful antagonistic territory. The convention came arsenic net play intensified, pinch anticipation of reports from Tesla (TSLA) and Google genitor Alphabet (GOOGL) group to beryllium released aft nan closing bell.

Companies pinch freshly reported quarterly results dominated nan database of stocks making awesome moves connected nan day, pinch investors reacting powerfully to net thumps and misses arsenic good arsenic updates to guardant guidance.

The S&P 500 slipped 0.2%, while nan Nasdaq edged 0.1% little heading into a drawstring of reports from big-name tech firms. The Dow ended nan convention pinch a minimal nonaccomplishment of little than 0.1%.

United Parcel Service (UPS) shares plunged 12.1%, suffering nan heaviest losses of immoderate S&P 500 stock, aft nan package transportation giant's second-quarter income and profits fell short of expectations. Softness successful freight request and pricing issues crossed nan shipping assemblage contributed to nan weakness during nan quarter. UPS besides trimmed its full-year gross guidance and operating separator forecast, citing nan effect of lower-profit shipments from caller e-commerce customers.

Shares of Paccar (PCAR) dropped 11.0% arsenic nan commercialized motortruck designer and manufacturer's second-quarter profits declined twelvemonth complete twelvemonth and fell awkward of analysts' forecasts. While nan institution is moving to grow its portfolio pinch emissions-free vehicles, elevated levels of superior spending dragged connected Paccar's capacity during nan quarter, successful summation to inflationary unit and softness successful freight markets.

A.O. Smith (AOS) shares slipped 9.4% successful nan aftermath of nan h2o heater and boiler manufacturer's quarterly net report. Although gross came successful up of estimates and earnings per stock (EPS) matched expectations, softness successful nan existent property marketplace and elevated alloy prices weighed connected nan results.

Shares of NXP Semiconductors (NXPI) sank 7.6% aft nan Netherlands-based chipmaker provided weaker-than-expected guidance for nan existent quarter. The little forecast relates to weakness successful nan automotive industry, which is NXP's largest segment, arsenic customers rein successful spending amid geopolitical risks.

Pentair (PNR) shares jumped 9.0%, marking Tuesday's apical capacity successful nan S&P 500, aft nan h2o curen institution topped analysts' estimates pinch its second-quarter nett income and EPS results. Pentair besides boosted its guidance for nan 3rd quarter, predicting that separator description would beryllium stronger than antecedently forecast arsenic nan patient focuses connected operational efficiencies amid nan challenging macroeconomic environment.

Shares of financial scale and analytics supplier MSCI (MSCI) soared 7.9% aft nan patient reported better-than-expected income and profits for nan 2nd quarter. An summation successful recurring subscription gross helped thrust nan results, pinch beardown maturation successful market cap-weighted indexes.

Sherwin-Williams (SHW) shares besides benefitted from a strong net report, gaining 6.9% aft nan overgarment supplier disclosed its latest quarterly results. Although gross came successful somewhat beneath estimates, adjusted EPS exceeded forecasts, pinch gains successful residential markets counterbalancing softer business demand. Sherwin-Williams besides boosted its full-year profit guidance.

Aircraft motor and parts supplier GE Aerospace (GE) became different net winner, reporting better-than-anticipated gross and nett income for nan 2nd 4th while expanding its forecasts for nan afloat year. Analysts person pointed to nan company's imaginable to use from maturation successful nan aviation industry, highlighting its diversified merchandise and customer portfolio. GE Aerospace shares lifted 5.7% pursuing nan net news.