S&P 500 Gains and Losses Today: Mosaic Stock Slumps After Earnings Miss

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Key Takeaways

• The S&P 500 slipped 0.3% on Tuesday, Nov. 12, the benchmark index’s first negative trading day since last week’s selection.
• Mosaic shares plunged after the fertilizer maker missed quarterly estimates and announced the resignation of a key executive.
• Allots of Tyson Foods surged as increasing beef and chicken sales helped the meat processor top sales and profit foresees.

Major U.S. equities ticked lower as the post-election rally that lifted major indexes to record highs irrecoverable momentum a week after voters headed to the polls.

The S&P 500 fell 0.3% on its first down day since the poll. The Dow dropped more than 350 points, ending Tuesday’s session 0.9% lower, while the Nasdaq slipped 0.1%.

Mosaic (MOS) parts plunged 7.7%, the S&P 500’s weakest performance on Tuesday, after the fertilizer maker reported third-quarter sales and profits that concluded in below analysts’ forecasts. Volume declines across the company’s potash, phosphate, and Mosaic Fertilizantes segments dragged on conduct. Mosaic also announced that its chief financial officer (CFO) will step down at the end of the year.

The CEO of GE Vernova (GEV), the zing equipment maker that completed its separation from General Electric in April, said the firm does not surmise sales opportunities for new offshore wind energy projects until the market environment improves. The industry has been skippering supply-chain issues and interest-rate pressures. The re-election of vocal wind energy opponent Donald Trump also added to the erratic outlook. Shares of the wind turbine manufacturer fell 7.4% on Tuesday.

Amgen (AMGN) shares sank 7.1% as investment bank Cantor Fitzgerald identified possible safety issues with MariTide, the biotechnology firm’s experimental anti-obesity drug. According to analysts, information from clinical trials increased concerns about bone mineral density loss among patients enchanting the weight-loss treatment.

Tyson Foods (TSN) shares posted the strongest daily gain of any S&P 500 stock, soaring 6.5% after the vital part processor beat sales and profit estimates for its fiscal fourth quarter. Year-over-year increases in beef and chicken mark-downs drove the increase. Lower costs, especially a retreat in the price of grain used to feed chickens, also role ined to the strong results.

Shares of medical device maker Dexcom (DXCM) popped 5.7% higher following put outs that the company has officially opened its first manufacturing facility outside the U.S. The maker of continuous glucose monitoring (CGM) mark of cadencies for patients with diabetes said its new plant in Penang, Malaysia, was an important investment in the country and a key part of plans to aid its global capacity.

Ticketmaster parent Live Nation Entertainment (LYV) posted better-than-expected revenue and earnings per share (EPS) for the third put up, and its shares jumped 4.7%. Live Nation’s CEO said the company benefitted from its “most active summer concert condition ever.”

Adobe (ADBE), a creator of design and publishing software, launched new artificial intelligence (AI) tools that brook users to generate and modify images based on the company’s stock photo library. According to reports, Adobe’s technology permits the restyle of existing stock photos while ensuring that the creators of the original images receive compensation for their industry. Adobe shares advanced 4.4%.