U.S. stocks traded lower on Tuesday in a quiet session. At the closing bell, the Dow Jones Industrial Average fell 0.2%, the S&P 500 lost 0.25% and the Nasdaq Composite moved 0.65% lower. Materials, technology and consumer staples names led the way lower, while consumer discretionary stocks bucked the market trend.
National Penn Bancshares (NPBC) also gained nearly 17%, after receiving a $1.8 billion takeover offer from BB&T (BBT). Sprint (S) also posted a double-digit gain for a second straight day, after announcing a pricing plan with unlimited upgrades for Apple's (AAPL) iPhone.
In after-hours action, Analog Devices (ADI) is trading more than 6% higher, after posting better-than-expected quarterly results. On the other hand, Canadian Solar (CSIQ) is down 6% after cutting guidance.
Looking ahead to Wednesday morning, retailers Lowe's (LOW), Staples (SPLS) and Target (TGT) headline the earnings calendar. On the economic front, we'll get a look at weekly mortgage applications and consumer prices before the opening bell.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
