- The S&P 500 Index posted modest losses on Wednesday.
- Autodesk Inc shares post impressive gains on upbeat earnings figures.
- Shares of Gap Inc (GPS: NYSE) are down nearly 20%.
The S&P 500 Index (SPX) It started the day in negative territory and struggled to make a significant rally as market action remains subdued ahead of the Thanksgiving holiday. At time of writing, the SPX was down 0.33% on the day at 3,623.
S&P 500 Major Changes
After Tuesday’s closing bell, Autodesk Inc (ADSK: Nasdaq) reported revenue of $ 952 million in the third quarter and beat analysts’ estimate of $ 942.2 million. Stifel, RBC, Credit Suisse and Baird raised their price targets after the upbeat report and gave the software maker’s shares a boost. After hitting a new high of $ 282.49, ADSK retreated slightly and was last seen gaining 5.85% on the day at $ 274.
Among the other top winners of the day, shares of ETSY Inc (ETSY: Nasdaq), HP Inc (HPQ: NYSE) and PayPal Holdings Inc (PYPL: Nasdaq) were up 5.6%, 2.65% and 2.6%, respectively.
On the other hand, Gap Inc (GPS: NYSE) announced earnings per share of $ 0.25 in the third quarter, disappointing analysts’ estimate of $ 0.32. At time of writing, GPS is down 19.6% on the day to $ 21.59 as the largest daily decline percentage.
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