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Here are 3 things to know about stocks right now
- The Dow Jones Industrial Average Index fell on Monday after closing last week with a gain of 0.4%.
- The S & P 500 and Nasdaq have also moved into negative territory. The S & P 500 closed down in 10 of the last 12 trading sessions, while the Nasdaq posted a loss in nine of the last 12 trading days.
- Hasbro Inc. (HAS) fell 5.9% after the maker posted lower-than-expected earnings and sales in the third quarter.
Wall Street: an overview
Shares fell on Monday (October 22nd), shedding a boost from Chinese stocks, which posted their biggest single-day gain in nearly three years after government pledges on tax and liquidity.
The Dow Jones Industrial Average was down 67 points, or 0.26%, to 25,377, the S & P 500 lost 0.34% and the Nasdaq lost 0.07%.
The People's Bank of China announced Monday that the tax cuts announced this weekend by government leaders in Beijing could account for up to 1% of the GDP of the world's second largest economy, or 1,200 billion yuan. dollars, an initiative that, it is hoped, will help drive growth and stable financial markets as they struggle to reduce risky loans and find a settlement in the ongoing trade war with the United States .
The promise helped the Shanghai Composite close with a gain of 4.09%, its best gain since 2015.
Halliburton Co. (HAL) reported earnings per share of 50 cents per share in the third quarter, exceeding the 1 cent forecast. Revenues for the quarter were $ 6.17 billion and exceeded expectations by $ 6.1 billion. The stock decreased by 2.4%.
Hasbro Inc. (HAS) reported a profit and a third-quarter turnover lower than analysts' expectations, while the manufacturer's shares lost 4.5% of its non-market sales. The company also announced that it would record a $ 50-60 million restructuring charge in the fourth quarter. The stock dropped 5.9%.
Kimberly-Clark Corp. (KMB) posted a third-quarter profit and revenue higher than Wall Street's expectations. The owner of brands such as Kleenex and Huggies also named Michael Hsu as CEO. He holds the position of Chief Operating Officer since January 1, 2017. Shares fell 1.3%.
Fiat Chrysler Automobiles NV (FCAU) has sold its automotive components division, Magneti Marrelli, to Japan's automotive parts supplier, Calsonic Kansei Corp., in a transaction valued at 6.2 billion euros. ($ 7.1 billion).
Fiat Chrysler said the sale would create the world's seventh-largest maker of components. Its turnover will be 15.2 billion euros. The stock rose by 3.2%.
Bristol-Myers Squibb Co. (BMY) lost 5.6% on Monday after the US Food & Drug Administration pushed back the approval date for a multi-drug treatment for lung cancer.
Bristol-Myers has announced that the marketing application of its combination of Opdivo and Yervoy cancer treatment would be delayed by three months, until May 2019. Regulators from the European Union have asked for more and more. 39, treatment information, which is currently being tested as part of a trial called by the company "CheckMate -227", including a comprehensive survival analysis for certain types of patients. Bristol-Myers said that an OS analysis for the same subgroup of patients had also been submitted to the FDA.
CBS Corp. (CBS) said Richard Parsons, acting president of the media company, had resigned from the board due to illness. Parsons was appointed interim president in September following the ousting of Chief Les Moonves following charges of sexual assault and harassment.
Strauss Zelnick, currently CEO and president of Take-Two Interactive Software Inc. (TTWO), will assume the role of acting president, the company said. CBS shares lost 1.1%.
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