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 13554.705618 -340.41 -2.45%
TSLA TESLA, INC. 665.22 -19.68 -2.87%
AMD ADVANCED MICRO DEVICES, INC. 77.91 -0.65 -0.82%

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 33864.37 -248.86 -0.73%
SP500 S&P 500 4139.06 -53.60 -1.28%

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. 39.91 +0.12 +0.29%
CVS CVS HEALTH CORP. 80.25 +2.60 +3.35%

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 11.15 0.00 0.00%

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. 54.08 -3.00 -5.26%
XLNX XILINX, INC. 121.98 -1.57 -1.27%
Z ZILLOW GROUP INC 118.43 -7.27 -5.78%

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