Nasdaq leads stock drop, Pfizer, CVS buck selling – Fox Business

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 13675.573044 -219.55 -1.58%
TSLA TESLA, INC. 669.82 -15.08 -2.20%
AMD ADVANCED MICRO DEVICES, INC. 77.93 -0.62 -0.79%

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 33884.65 -228.58 -0.67%
SP500 S&P 500 4154.55 -38.11 -0.91%

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. 

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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. 39.79 -0.01 -0.03%
CVS CVS HEALTH CORP. 79.61 +1.96 +2.52%

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 10.96 -0.18 -1.66%

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. 54.54 -2.54 -4.45%
XLNX XILINX, INC. 122.04 -1.51 -1.22%
Z ZILLOW GROUP INC 119.23 -6.47 -5.15%

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

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