U.S. stocks fell modestly again on Tuesday, losing 0.2% to 0.3% across the board. Utilities and technology names led the way lower, while materials and consumer discretionary stocks were higher. Elsewhere, the yield on the benchmark 10-year U.S. Treasury note moved 7.3 basis points higher, to 2.221%.
TriNet Group(TNET) was the big loser of the session, falling 39% on a lower profit outlook. On the other hand, Baxalta (BXLT) gained nearly 12%, after receiving a $30 billion takeover offer from Shire (SHPGY).
In after-hours action, Etsy (ETSY) is down 11% after posting a wider-than-expected quarterly loss. But FirstSolar (FSLR) is up 10%, after beating consensus analyst estimates. HomeAway (AWAY) is up 8%, after boosting guidance.
Looking ahead to Wednesday morning, Dish Network (DISH), Priceline (PCLN), Ralph Lauren (RL) and Time Warner (TWX) headline the earnings calendar. On the economic front, we'll get a look at weekly mortgage applications, the ADP employment data and trade balance, before the opening bell.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
