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Nordstrom stock rockets higher after earnings beat, increase in annual forecast

Nordstrom Inc. shares jumped more than 20% at times in after-hours trading Tuesday after the retailer reported an unexpected profit and improving sales amid difficulties for rivals. Nordstrom reported first-quarter profit of $20 million, or 13 cents a share, up from a loss a year ago and amid analyst expectations for a loss this year. The company did...

FTC launches probe into ongoing baby-formula shortage

The Federal Trade Commission on Tuesday announced that it has launched an inquiry in the ongoing U.S. baby-formula shortage. "The inquiry seeks information about the nature and prevalence of any deceptive, fraudulent, or otherwise unfair business practices aimed at taking advantage of families during this shortage," the agency said in a statement. "It...

Dow ekes out gain Tuesday, but Nasdaq leads losses tied to tech selloff

Major U.S. stock indexes closed mixed Tuesday in choppy trade punctuated by another sharp selloff in the internet sector. The Dow Jones Industrial Average swung to a slight gain late in the session, adding about 50 points, or 0.2%, to end near 31,931. The main action resided in the tech-heavy Nasdaq Composite Index , which shed 2.4%, while the S&P...

Abercrombie & Fitch stock plummets more than 30%, headed towards biggest ever one-day decline

Abercrombie & Fitch Co. shares sank more than 30% in Tuesday trading, en route to the stock's biggest one-day decline. The clothing and accessories retailer reported first-quarter results during premarket hours; it swung to a loss and gave guidance below Street expectations. "Given that promotional activity remains very subdued, this underscores...

Gold finishes up about 1% Tuesday, book highest close in 2 weeks

Gold futures closed higher Tuesday, scoring a fourth straight session of gains, as weaker U.S. economic data rattled the stock market and put a shine back on the precious metal. Gold for June delivery added $17.60, or 1%, to settle at $1,865.40 an once on Comex. "Gold should remain supported as inflationary pressures weigh further, China's COVID situation...

Moderna says it will start developing a monkeypox vaccine

Moderna Inc. tweeted Monday afternoon that it is "investigating potential monkeypox vaccines at a preclinical level." Several stocks of companies that are developing or have smallpox or monkeypox vaccines and treatments jumped in trading on Monday as more people have become aware of the cluster of cases in Europe. Moderna's stock is down 48.3% so far...

Home builder stocks suffer unanimous selloff after disappointing new home sales data

The home builder sector was suffering a unanimous selloff in morning trading Tuesday, after data showing new home sales surprisingly fell in April, and sharply, amid high prices, rising mortgage rates and low supply. The iShares U.S. Home Construction ETF sank 3.4%, with all 47 equity components losing ground, while the SPDR S&P Homebuilders ETF...

Nautilus stock plunges after disappointing outlook, and Peloton shares also fall

Shares of Nautilus Inc. plunged 20.5% in morning trading, putting them on track for the lowest close since March 2020, after the exercise equipment and digital fitness company swung to a fiscal fourth-quarter loss, as revenue that fell sharply from a year ago while gross margins were more than halved. The company also provided fiscal first-quarter...

Stocks open lower as Monday bounce gives way to renewed selling

U.S. stocks opened lower Tuesday, slumping after disappointing results from Snapchat parent Snap Inc. sent tech-related shares skidding. The fall comes after stocks bounced sharply higher on Monday following a rout that took the S&P 500 to the brink of a bear market on Friday. The Dow Jones Industrial Average was down 150 points, or 0.5%, while...

INmune Bio stock plunges after clinical hold of IND of Alzheimer's treatment prompts analyst downgrade

Shares of INmune Bio Inc. plummeted 31.4% toward a 22-month low in premarket trading Tuesday, after the Florida-based biotechnology company said it received an email from U.S. Food and Drug Administration, saying that it placed the Investigational New Drug (IND) application to initiate its Phase 2 trial of its XPro Alzheimer's treatment on clinical...

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