Following the market opening Wednesday, the Dow traded up 0.01% to 27,495.34 while the NASDAQ fell 0.22% to 8,415.98. The S&P also rose, gaining 0.03% to 3,075.46.
Leading and Lagging Sectors
In trading on Wednesday, energy shares fell 0.9%.
CVS Health Corporation (NYSE: CVS) reported upbeat earnings for its third quarter and raised its FY19 earnings guidance.
CVS reported quarterly earnings of $1.84 per share, which beat the analyst consensus estimate of $1.77 per share. The company posted quarterly sales of $64.81 billion, versus analysts’ estimates of $63 billion.
CVS Health raised its FY19 adjusted EPS forecast from $6.89-$7.00 to $6.97-$7.05.
Equities Trading UP
Constellation Pharmaceuticals, Inc. (NASDAQ: CNST) shares shot up 81% to $26.69 after the company reported Q3 results.
Shares of Venator Materials PLC (NYSE: VNTR) got a boost, shooting up 28% to $3.74 after the company reported better-than-expected Q3 EPS and sales results.
Office Depot, Inc. (NASDAQ: ODP) shares were also up, gaining 21% to $2.6550 after the company reported better-than-expected Q3 EPS results. The company also reaffirmed FY19 sales guidance above analyst estimates.
Equities Trading DOWN
Fluidigm Corporation (NASDAQ: FLDM) shares tumbled 52% to $2.43 after the company reported worse-than-expected Q3 sales results.
Shares of Plantronics, Inc. (NYSE: PLT) were down 37% to $24.94 after the company reported worse-than-expected Q2 EPS and sales results.
Supernus Pharmaceuticals, Inc. (NASDAQ: SUPN) was down, falling 29% to $20.58 after the company reported downbeat Q3 results. The P301 trial of SPN-810 to treat impulsive aggression in attention deficit hyperactivity disorder in patients 6-11 did not meet the primary endpoint, according toSupernus Pharmaceuticals.
In commodity news, oil traded down 0.2% to $57.12, while gold traded up 0.1% to $1,484.60.
Silver traded down 1.1% Wednesday to $17.38, while copper fell 0.3% to $2.6935.
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.2%, the Spanish Ibex Index fell 0.2%, while Italy’s FTSE MIB Index climbed 0.2%. Meanwhile, the German DAX gained 0.2%, and the French CAC 40 rose 0.3% while UK shares rose 0.1%.
U.S. nonfarm productivity declined by an annualized 0.3% in the third quarter, versus a revised 2.5% growth in the prior three-month period. Unit labour costs increased an annualized 3.6% in the third quarter.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.
The Treasury is set to auction 10-year notes at 1:00 p.m. ET.
Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Philadelphia, Pennsylvania at 3:15 p.m. ET.
New York Federal Reserve Bank President John Williams will speak in New York at 6:30 p.m. ET.