Nasdaq Surges 1%; Pfizer Posts Upbeat Q3 Earnings

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 1% on Tuesday.

The Dow traded down 0.46% to 51,744.97 while the NASDAQ climbed 1.01% to 25,419.67. The S&P 500 also rose, gaining, 0.49% to 7,578.55.

Leading and Lagging Sectors

Information technology shares jumped by 1.6% on Tuesday.

In trading on Tuesday, materials stocks fell by 1.6%.

Top Headline

Pfizer Inc. (NYSE:PFE) on Tuesday reported upbeat results for the third quarter.

The company posted third-quarter sales of $16.58 billion, beating the consensus of $15.87 billion. Pfizer’s adjusted earnings came in at 87 cents per share, beating the consensus of 72 cents.

Pfizer raised its fiscal 2026 sales guidance to $62 billion to $64 billion, from $60.5 billion to $62.5 billion, compared with the consensus of $62.17 billion. The U.S. drug giant raised its 2026 adjusted earnings guidance to $2.95 to $3.05 per share, from $2.80 to $3.00 per share, versus the consensus of $2.96.

Equities Trading UP
           

• Ibotta Inc (NYSE:IBTA) shares shot up 28% to $63.85 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates.
• Shares of Aehr Test Systems (NASDAQ:AEHR) got a boost, surging 23% to $63.20 after the company reported better-than-expected first-quarter financial results and raised its FY27 sales guidance above estimates.
• Graphic Packaging Holding Co (NYSE:GPK) shares were also up, gaining 19% to $11.10 after the company reported better-than-expected quarterly financial results.

Equities Trading DOWN

• Stevanato Group SpA (NYSE:STVN) shares dipped 24% to $14.99 after reporting third-quarter results.
• Shares of Bioventus Inc (NASDAQ:BVS) were down 20% to $10.56 after the company reported mixed third-quarter financial results and cut its FY26 sales guidance below estimates.
• Adeia Inc (NASDAQ:ADEA) was down, falling 15% to $17.64 after the company reported worse-than-expected third-quarter financial results and cut its FY26 guidance.

Commodities 

In commodity news, oil traded down 0.6% to $95.90 while gold traded down 0.8% at $3,937.80.

Silver traded down 2.3% to $49.730 on Tuesday, while copper fell 2.6% to $6.4000.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 declined 0.6%, while Spain’s IBEX 35 Index fell 0.8%, London’s FTSE 100 fell 1.1%, Germany’s DAX declined 0.5%, while France’s CAC 40 slipped 0.3%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Hong Kong’s Hang Seng index gaining 0.57%, China’s SSE Composite Index falling 0.82% and India’s BSE Sensex gaining 1.62%.

Economics

• The RealClearMarkets/TIPP Economic Optimism Index climbed to 48.5 in November from 46.8 in the prior month.
• The US Logistics Managers’ Index rose to 70.7 in October from 70.2 in the previous month.
• U.S. factory orders rose 1.8% month-over-month in September compared to a revised 0.3% gain in August.
• U.S. job openings surged by 333,000 to 7.523 million in September, from a revised 7.19 million in August.

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