Nasdaq Falls 100 Points; Home Depot Sales Top Views

Benzinga
05-20

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 100 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.17% to 42,717.49 while the NASDAQ fell 0.60% to 19,100.94. The S&P 500 also fell, dropping, 0.28% to 5,946.87.

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Leading and Lagging SectorsUtilities shares rose by 0.4% on Tuesday.

In trading on Tuesday, information technology stocks dipped by 1.1%.

Top Headline

Home Depot Inc. (NYSE:HD) reporting better-than-expected first-quarter sales results and reaffirmed its full-year outlook.

Sales rose 9.4% year over year to $39.86 billion, topping the $39.33 billion consensus. Adjusted earnings per share fell 3% to $3.56, missing the $3.60 estimate.

Home Depot reaffirmed it forecast of total sales growth of 2.8% year-over-year, reaching $163.98 billion, below the consensus of $164.17 billion. The company anticipates adjusted earnings per share will decline about 2% to $14.94, lower than the $14.99 consensus estimate.

Equities Trading UP                       

  • BloomZ Inc. (NASDAQ:BLMZ) shares shot up 255% to $0.3682.
  • Shares of NeurAxis, Inc. (NYSE:NRXS) got a boost, surging 117% to $4.92 after the company announced it received FDA 510(K) clearance regarding IB-stim for the treatment of pediatric FAP associated with functional dyspepsia and FD related nausea symptoms.
  • Siyata Mobile Inc. (NASDAQ:SYTA) shares were also up, gaining 39% to $5.64.

Equities Trading DOWN

  • Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped 23% to $0.2626 after the company reported quarterly results for the three months ended March 31.
  • Shares of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) were down 22% to $0.2578 after the company announced a 1-for-15 reverse stock split to regain Nasdaq compliance.
  • Protagenic Therapeutics, Inc (NASDAQ:PTIX) was down, falling 18% to $9.15. Protagenic Therapeutics recently entered a business combination with Phytanix.

CommoditiesIn commodity news, oil traded down 0.6% to $62.30 while gold traded up 0.4% at $3,245.80.

Silver traded up 0.4% to $32.625 on Tuesday, while copper fell 1% to $4.6225.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.8%, while Spain's IBEX 35 Index rose 1.7%. London's FTSE 100 rose 0.9%, Germany's DAX 40 gained 0.6% and France's CAC 40 climbed 0.9% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan's Nikkei gaining 0.08%, Hong Kong's Hang Seng Index gaining 1.49%, China's Shanghai Composite Index rising 0.38% and India's BSE Sensex declining 1.06%.

Economics

US Redbook Index rose by 5.4% year-over-year in the week ending May 17.

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Photo via Shutterstock

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