- S&P 500 Index posts modest daily gains on Tuesday – Franklin Resources Inc stock plunges sharply on disappointing earnings figures.
- F5 Networks Inc shares post impressive gains on target price increases.
The S&P 500 Index (SPX) It opened little changed Tuesday and appears to be having a difficult time making a decisive move in either direction. At time of writing, the SPX was up 0.12% on the day at 3,404.
S&P 500 Major Changes
Franklin Resources Inc (BEN: NYSE) reported adjusted quarterly earnings of 56 cents a share for the quarter ended September. With this reading without the market estimate of 69 cents a share, the company’s shares suffer heavy losses on Tuesday. At the moment, BEN is trading at $ 20.14, losing 11.8% on the day.
Shares of DexCom Inc (DXCM: NASDAQ), Eli Lilly and Co (LLY: NYSE) and Roper Technologies Inc (ROP: NYSE) are among the other biggest daily percentage declines, losing 8.9%, 6.1% and 6.2%, respectively.
On the other hand, F5 Networks Inc (FFIV: NASDAQ) reported better-than-expected quarterly sales and noted that earnings in the current quarter were expected to be above the strongest estimates for software subscriptions. Following these developments, BofA Global Research, Credit Suisse and Cowen and Company are raising their price targets for FFIV. At time of writing, FFIV is up 8.66% on the day at $ 136.44.
Credits: Forex Street
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