It is only Tuesday and the stock market has already seen some top companies making major moves. Major indexes have been mainly down this morning. Our financial update on stocks begins with the Down Jones falling by over 200 points. Surprisingly, Kohl’s beat earnings expectations. The company reported EPS at $0.01 compared to the forecasted number of -$0.43. The profit for the quarter was surprising and its dividend has also returned. The clothing retailer was up by over five percent on Tuesday.
Amazon announced its online pharmacy Amazon Pharmacy. This move into the pharmacy space is a major move for the company. Prime members will be able to receive their medicine with free two day shipping. Shares for Amazon were slightly up this morning. But this major news for the ecommerce giant caused other pharmacy owners like Walgreens and CVS to plummet in the stock market. Walgreens shares dropped by eight percent. CVS shares declined by close to seven percent. With this news of Amazon Pharmacy, GoodRX fell close to nineteen percent.
An announcement was made yesterday that Tesla would be added to the S&P 500. After hours trading soared for the electric vehicle maker. Pre-market on Tuesday morning the stock soared by over ten percent. The company will be added to the major index on December 21. The company is up by over five hundred percent for the year.
Chipmaker Nvidia reports tomorrow after hours. It has an expected EPS OF $2.56. Shares for Wal Mart traded flat Tuesday morning although the company reported the average shopping trip grew by twenty four percent. Less traffic has been pouring into Wal Mart stores. Their quarterly sales grew a lot less when compared to other quarters throughout the COVID 19 pandemic. Home Depot beat earnings expectations with an EPS of $3.18.
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