All three major US stock indexes were down in late-morning trading Tuesday, similar to Monday as investors processed Moody's recent downgrade of US credit before staging a late rally.
In company news, Tesla (TSLA) Chief Executive Elon Musk said Tuesday in an interview on Bloomberg TV that poor sales figures that have plagued the EV-maker this year have "already turned around." The CEO said the company "lost some sales on the left and gained some sales on the right," and that the Tesla's stock is "trading near all-time highs." Musk also said he is committed to being Tesla's CEO for the next five years. Tesla shares were up 1.2%.
Home Depot (HD) reported fiscal Q1 adjusted earnings Tuesday of $3.56 per diluted share, down from $3.67 a year earlier and below FactSet's consensus analyst estimate of $3.60. Fiscal Q1 net sales were $39.86 billion, up from $36.42 billion a year ago and above the FactSet consensus of $39.3 billion. The company reaffirmed its fiscal 2025 guidance calling for adjusted EPS to decline about 2% from $15.24 a year earlier, with sales growth pegged at about 2.8%. Home Depot shares were up 0.1%.
Over 79% of Shell (SHEL) shareholders voted against a resolution Tuesday at the company's annual general meeting asking the oil giant to disclose more information about how its forecasts for liquified natural gas demand, production, sales and new projects are consistent with net-zero emissions targets, Bloomberg reported. Shares of Shell were up 0.3%.
Paramount Global's (PARA) efforts to settle President Donald Trump's lawsuit against its CBS News unit have caused several US senators to seek information about possible violations of a federal bribery statute in connection with the company's desire to complete a merger with Skydance Media, The Wall Street Journal reported Tuesday. Paramount shares were down 0.1%.
The US Food and Drug Administration plans to require new clinical trials prior to approval of Covid-19 boosters for healthy Americans under the age of 65, agency leaders said Tuesday in a post published in the New England Journal of Medicine. Shares of Moderna (MRNA) and Pfizer (PFE) were up 9.1% and 1.8%, respectively.
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