Mosaic Stock Slumps After Earnings Miss | Global News Avenue

Major U.S. stocks edged lower as a post-election rally that pushed major indexes to record highs lost steam a week after voters went to the polls.

The S&P 500 fell 0.3%, its first losing day since the election. The Dow fell more than 350 points, closing down 0.9% on Tuesday, while the Nasdaq fell 0.1%.

mosaic (metal oxide semiconductorShares tumbled 7.7% after the fertilizer maker reported third-quarter sales and profits, the S&P 500’s worst performance on Tuesday Below analysts’ forecasts. Lower sales at the company’s potash, phosphate and mosaic fertilizer business units weighed on results. Mosaic also announced that its chief financial officer (CFO) will resign at the end of the year.

GE Vernova Chief Executive Officer (GEVThe energy equipment maker, which completed its split from General Electric in April, said it does not expect sales opportunities for new offshore wind projects until market conditions improve. The industry has been dealing with supply chain issues and interest rate pressures. The re-election of wind energy opponent Donald Trump also adds to uncertainty about the outlook. Shares of the wind turbine maker fell 7.4% on Tuesday.

Amgen (AMGNShares of the biotech company fell 7.1% after investment bank Cantor Fitzgerald flagged possible safety issues with the biotech’s experimental anti-obesity drug MariTide. Analysts say the clinical trial data adds to concerns about loss of bone mineral density in patients undergoing weight loss treatment.

Tyson Foods (TSN) shares notch the strongest daily gains among S&P 500 stocks, following meatpackers’ 6.5% surge Exceeded sales and profit expectations its fourth fiscal quarter. This growth was driven by year-over-year increases in beef and chicken sales. Falling costs, especially the price of grain used to raise chickens, also contributed to the strong results.

Shares of medical device maker Dexcom (DXCM) shares rose 5.7% after reports that the company has officially opened its first manufacturing facility outside the U.S. The maker of continuous glucose monitoring (CGM) devices for diabetics said its new facility in Penang, Malaysia It is an important investment in the country and a key part of its plan to enhance its global production capacity.

Ticketmaster parent company Live Nation Entertainment (lie)release Revenue and earnings per share (EPS) beat expectations In the third quarter, its shares rose 4.7%. Live Nation’s CEO said the company benefited from “the most active summer concert season ever.”

Adobe (ADBE), the creator of design and publishing software, has launched a new artificial intelligence (AI) tool that allows users to generate and modify images based on the company’s stock photo library. Adobe’s technology reportedly allows existing stock photos to be edited while ensuring the creators of the original images get paid for their work. Adobe shares rose 4.4%.