- The S&P 500 appears to close at new monthly lows below 3,300.
- Shares of General Electric Co (GE: NYSE) rose sharply on Wednesday.
- CH Robinson Worldwide Inc (CHRW: NASDAQ) falls sharply despite optimistic third-quarter results.
The main Wall Street indices They continue to push lower after opening the day in negative territory. At time of writing, the S&P 500 Index was down 2.9% on the day to 3,292 and was on track to post its lowest daily close in more than a month.
S&P 500 Major Changes
Earlier in the day, General Electric Co (GE: NYSE) reported a lower-than-expected quarterly loss and positive cash flow following cost reduction at its aviation unit and improvement in its commercial energy revenues. Fueled by the optimistic report, GE is up 8.6% on the day to $ 7.7 as the top daily profit percentage for the day.
Shares of Automatic Data Processing Inc (ADP: NASDAQ) and Rollins Inc (ROL: NYSE) are among the other best-performing stocks of the day in optimistic earnings figures, rising 7.1% and 4.8%, respectively.
On the other hand, CH Robinson Worldwide Inc (CHRW: NASDAQ) reported quarterly adjusted earnings of $ 1.00 per share for the quarter ending in September. Although this reading was slightly better than analysts’ estimate of earnings of 97 cents a share, CHRW is losing 10% on the day at $ 90.
Shares of Akamai Technologies Inc (AKAM: NASDAQ) and Unum Group (UNM: NYSE) fell more than 9% as the other big losers on Wednesday.
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Credits: Forex Street
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