Canada's benchmark stock index retreated from a record high on Tuesday as investors weighed geopolitical developments, a heavy slate of corporate earnings, and an upcoming interest rate decision from the U.S. Federal Reserve.
The industrial conglomerate surpassed second-quarter profit and revenue forecasts, but a drop in jet deliveries and ongoing productivity issues in its aviation unit sent the company's stock lower.
Apple Inc. briefly surpassed a $5 trillion market capitalization during Tuesday's trading, becoming only the second company after Nvidia to reach the milestone before paring early gains.
The cost to insure against an Nvidia default surged to a record as reports of massive vendor financing deals for customers like OpenAI spooked credit markets, signaling a shift in how investors assess the chipmaker's risk profile.
Replimune stock fell sharply after the U.S. Food and Drug Administration published briefing documents highlighting significant concerns with the company's skin cancer therapy ahead of a key advisory committee meeting.
Shares of Corning fell over 16% after the company's third-quarter sales outlook fell slightly short of Wall Street estimates, overshadowing a second-quarter revenue beat and raising concerns about slowing growth.
Shares of the data protection firm dropped despite reporting fiscal Q1 results that topped estimates, as investors focused on a forward guidance that failed to meet heightened expectations after a recent stock run-up.
The cruise operator trimmed its full-year revenue growth projection to 9% from 10%, citing booking impacts from geopolitical issues, but simultaneously raised its adjusted profit forecast on strong Q2 results and cost controls.
Both Intel and Marvell Technology saw shares drop around 5% in pre-market trading, but the chipmakers face vastly different circumstances. Intel's decline follows a massive rally and comes amid concerns over its valuation and turnaround strategy, while Marvell's pullback occurs despite a recent return to profitability and strong growth in its AI-focused custom chip business.
