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Nasdaq leads stock drop, Pfizer, CVS buck selling


U.S. stocks slipped in early trading as investors digested a fresh batch of corporate earnings. 

The Nasdaq Composite paced the declines down over 1% led by Tesla and AMD.

Ticker Security Last Change Change %
I:COMP NASDAQ COMPOSITE INDEX 13606.545219 -288.57 -2.08%
TSLA TESLA, INC. 667.24 -17.66 -2.58%
AMD ADVANCED MICRO DEVICES, INC. 77.44 -1.11 -1.41%

While the Dow Jones Industrial Average and the S&P 500 also fell 0.25% and 0.53%, respectively. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33864.7 -248.53 -0.73%
SP500 S&P 500 4148.61 -44.05 -1.05%

In earnings news, both Pfizer and CVS boosted financial outlooks as demand for COVID-19 related items fueled results and shares moved higher. 

“We delivered strong first-quarter results and improved our outlook for the year,” said CVS Health President and CEO Karen S. Lynch. “We continue to execute on our strategy while simultaneously managing through a pandemic, helping the country on the road to recovery. 

BIDEN TALKS TAXES ON AMERICANS EARNING LESS THAN $400K

Moderna also in focus after announcing plans to boost its manufacturing facility in Massachusetts. “Our manufacturing facility has been core to our long-term strategy and has enabled us to provide the scale and flexibility to support the development of our mRNA medicines and vaccines including our COVID-19 vaccine,” said CEO Stéphane Bancel in a statement. 

Ticker Security Last Change Change %
PFE PFIZER INC. 39.75 -0.05 -0.13%
CVS CVS HEALTH CORP. 79.86 +2.21 +2.84%

Marathon Oil shares were also lower after the company announced it has reduced $500 million in debt. 

Ticker Security Last Change Change %
MRO MARATHON OIL 11.03 -0.12 -1.08%

After the closing bell investors will get results from Lyft, Xilinx, and Zillow to name a few. 

Ticker Security Last Change Change %
LYFT LYFT INC. 54.40 -2.68 -4.70%
XLNX XILINX, INC. 121.58 -1.97 -1.59%
Z ZILLOW GROUP INC 119.03 -6.67 -5.31%

In commodities, oil continues its upward climb touching the $65 per barrel level, while gold was modestly lower trading at $1,782 an ounce. 



Read More: Nasdaq leads stock drop, Pfizer, CVS buck selling

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