Medtronic gains 5% after upbeat Q1 results and guidance raise
Medtronic shares rose about 5% after the company reported first-quarter earnings of $1.45 a share on sales of $9.756 billion and raised FY27 adjusted EPS guidance.
U.S. stocks traded lower this morning, with the Dow Jones index falling more than 300 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.58% to 52,876.43 while the NASDAQ dipped 1.40% to 26,001.27.
The S&P 500 also fell, dropping, 0.68% to 7,633.51.
Leading and Lagging Sectors Health care shares jumped by 1.7% on Tuesday.
In trading on Tuesday, consumer discretionary stocks fell by 1.7%.
Top Headline Medtronic PLC (NYSE: MDT ) shares gained around 5% on Tuesday after the company reported better-than-expected first-quarter financial results and raised its FY27 adjusted EPS guidance.
Medtronic reported quarterly earnings of $1.45 per share which beat the analyst consensus estimate of $1.39 per share.
The company reported quarterly sales of $9.756 billion which beat the analyst consensus estimate of $9.545 billion.
Also, the company announced a $700 million strategic partnership with Cornerstone Robotics to expand global access to its Sentire Surgical System in select non-U.S. markets.
Equities Trading UP bioAffinity Technologies Inc ( NASDAQ: BIAF ) shares shot up 66% to $7.59 after the company announced that it is advancing the potential application of its CyPath Lung Test.
Shares of Fly-E Group Inc (NASDAQ: FLYE ) got a boost, surging 45% to $1.99.
Wetour Robotics Ltd ( NASDAQ: WETO ) shares were also up, gaining 50% to $8.21 after the company announced it released a development demonstration of Orchestra combining surface electromyography with first-person vision to capture richer human-hand data for robot learning.
Equities Trading DOWN Alumis Inc ( NASDAQ: ALMS ) shares dropped 50% to $10.86 after the company disclosed topline results from Envudeucitinib Phase 2b trial in Systemic Lupus Erythematosus (SLE).
Shares of KALA BIO Inc ( NASDAQ: KALA ) were down 19% to $0.54.
Kala Bio and Virotek announced a Letter of Intent to establish an exclusive U.S. distribution partnership for ophthalmology genetic testing program.
Nocera Inc (NASDAQ: NCRA ) was down, falling 21% to $2.23.
Commodities In commodity news, oil traded up 2.9% to $88.20 while gold traded down 2.3% at $4,376.60.
Silver traded down 3.2% to $64.875 on Tuesday, while copper fell 1.6% to $6.5795.
Euro zone European shares were lower today.
The eurozone’s STOXX 600 slipped 0.5%, while Spain’s IBEX 35 Index fell 0.7%, London’s FTSE 100 fell 0.6%, Germany’s DAX dipped 0.9%, while France’s CAC 40 fell 0.3%.
Asia Pacific Markets Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 falling 0.15%, Hong Kong’s Hang Seng index declining 0.93%, China’s Shanghai Composite declining 0.16% and India’s BSE Sensex falling 0.02%.
Economics The US Logistics Managers’ Index declined for a second straight month to a reading of 66.6 in August from 68.9 in the previous month.
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