US Stocks Mixed; General Motors Shares Fall After Q2 Results

Benzinga
22 Jul

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 0.2% on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.18% to 44,401.06 while the NASDAQ fell 0.10% to 20,953.95. The S&P 500 also rose, gaining, 0.09% to 6,311.31.

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Leading and Lagging SectorsHealth care shares jumped by 1.4% on Tuesday.

In trading on Tuesday, information technology stocks dipped by 0.6%.

Top Headline

General Motors Company (NYSE:GM) shares fell on Tuesday after reporting a sharp drop in adjusted EBIT margins to 6.4% and a whopping $1.1 billion tariff headwind.

The auto behemoth registered second-quarter adjusted earnings per share of $2.53, beating the analyst consensus estimate of $2.40. Quarterly sales of $47.12 billion outpaced the Street view of $45.57 billion.

Equities Trading UP           

  • Fusion Fuel Green PLC (NASDAQ:HTOO) shares shot up 152% to $10.74 after the company announced a non-binding term sheet outlining a partnership with a green energy technologies entity, which will invest €30 million in capital over four years.
  • Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) got a boost, surging 113% to $0.5654. The company announced the elimination of its series A preferred stock and its related obligations in exchange for 2.1 million common shares.
  • Kohl’s Corporation (NYSE:KSS) shares were also up, gaining 46% to $15.23 amid mentions of the stock on social media.

Equities Trading DOWN

  • Replimune Group, Inc. (NASDAQ:REPL) shares dropped 72% to $3.40 after the company announced it received an FDA complete response letter for RP1 BLA in advanced melanoma.
  • Shares of Oriental Rise Holdings Limited (NASDAQ:ORIS) were down 65% to $0.1630 after the company announced a $6.9 million public offering.
  • reAlpha Tech Corp. (NASDAQ:AIRE) was down, falling 49% to $0.4342 after the company announced a $5 million registered direct offering.

CommoditiesIn commodity news, oil traded down 1% to $66.52 while gold traded up 0.3% at $3,417.10.

Silver traded up 0.3% to $39.455 on Tuesday, while copper rose 0.6% to $5.6690.

Euro zone

European shares were lower today. The eurozone's STOXX 600 slipped 0.5%, while Spain's IBEX 35 Index fell 0.3%. London's FTSE 100 slipped 0.2%, Germany's DAX 40 declined 1.1% and France's CAC 40 dipped 0.8% during the session.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 falling 0.11%, Hong Kong's Hang Seng gaining 0.54%, China's Shanghai Composite gaining 0.62% and India's BSE Sensex declining 0.02%.

Economics

Redbook Index in the U.S. rose by 5.1% year-over-year in the week ending July 19.

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Photo via Shutterstock

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