All three major US stock indexes were up slightly as investors continue to wait for updates on trade negotiations.
Amazon.com (AMZN) said that listing the price impacts of tariffs was never under consideration for the main Amazon website, The Washington Post's Jeff Stein said Tuesday on X, citing a company spokesperson. Amazon Haul has considered providing import price duties on certain products, Stein said, citing the spokesperson. The post refutes a Punchbowl News story from earlier Tuesday stating that Amazon will begin showing how much tariffs are contributing to the price of each product. In response to the Punchbowl News story, White House Press Secretary Karoline Leavitt said in a press conference that such a move is a "hostile" and political act, according to media reports. Amazon shares were down 0.9% around midday.
President Donald Trump is expected to sign later on Tuesday an executive order easing the impact of auto tariffs, Leavitt said during the same press conference, according to media reports. The order is expected to include changes sought by the auto industry that would lift some tariffs on parts for vehicles made in the US, the reports said. Separately, General Motors (GM) is withdrawing its earnings guidance for 2025 and pausing its $4 billion share buyback program until it has more clarity on the impact of US tariffs, Bloomberg reported, citing a call with Chief Financial Officer Paul Jacobson. The company said Tuesday it is rescheduling its Q1 earnings conference call for 8:30 a.m. ET on May 1 due to "recent reports regarding updates to trade policy." Shares of GM were down 1%, while those of Ford Motor (F), Stellantis (STLA), Honda Motor (HMC) and Toyota Motor (TM) were up 0.4%, 1.2%, 0.5%, and 0.6% respectively. Tesla (TSLA) was down 0.8%.
Novo Nordisk (NVO) and Hims & Hers Health (HIMS) have formed a partnership that will allow US consumers to access the NovoCare pharmacy through the Hims platform with a bundled offering of all dose strengths of Wegovy and a Hims membership for $599 per month, the companies said Tuesday. Separately, LifeMD (LFMD) said Tuesday it plans to offer "broad, affordable, and streamlined" access to Wegovy. The company said all doses of Wegovy are available in a pen device to eligible LifeMD patients who are uninsured or do not have weight-loss medication coverage through their insurance provider. Novo Nordisk shares were up 3.4%, while those of Hims and LifeMD climbed 21.5% and 25.6%, respectively.
United Parcel Service (UPS) said Tuesday it expects to reduce its operational workforce by around 20,000 positions this year due to projected lower volumes from one of its largest customers. The company said it also expects to close 73 leased and owned sites by June. UPS shares were down 0.2%.
Coca-Cola (KO) reported Q1 comparable earnings of $0.73 per diluted share, up from $0.72 a year earlier and above the $0.72 consensus estimate of analysts surveyed by FactSet. First-quarter net operating revenue was $11.13 billion, down from $11.30 billion a year ago and below the FactSet consensus estimate of $11.16 billion. Coca-Cola shares were up 0.8%.
AstraZeneca (AZN) reported Q1 core earnings of $2.49 per diluted share, up 21% from a year earlier and above the FactSet consensus of $2.24. First-quarter revenue was $13.59 billion, up from $12.68 billion a year ago but below the FactSet consensus estimate of $13.81 billion. Chief Executive Pascal Soriot said on the company's earnings call that it is shifting manufacturing of certain medicines currently imported from Europe to sites in the US. AstraZeneca shares were up 2%.
Pfizer (PFE) reported fiscal Q1 adjusted earnings of $0.92 per diluted share, up from $0.82 a year earlier and above the FactSet consensus estimate of $0.67. Fiscal Q1 revenue was $13.72 billion, down from $14.88 billion a year ago and below the FactSet consensus of $13.92 billion. The company maintained its 2025 adjusted earnings guidance of $2.80 to $3 per diluted share on revenue of $61 billion to $64 billion. Pfizer shares were up 3.8% recently.
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