:max_bytes(150000):strip_icc()/GettyImages-2197123742-7b98ea0deb9744099ab8231a18572dac.jpg "Spotify, Pfizer, CoreWeave, Lamb Weston, and More")
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2197123742-7b98ea0deb9744099ab8231a18572dac.jpg)
Key Takeaways
- Major U.S. equities indexes edged lower Tuesday afternoon, as a potential government shutdown loomed.
- Spotify shares slid after the music streaming service said co-founder and CEO Daniel Ek will step down.
- Pfizer shares gained as the pharmaceutical firm and the Trump administration struck a deal to lower drug prices.
Major U.S. equities indexes edged lower Tuesday afternoon, as a potential government shutdown loomed. The Dow, S&P 500, and Nasdaq were all slightly lower.
Spotify Technology (SPOT) shares dropped after the music streaming service said co-founder and CEO Daniel Ek will step down and be replaced by co-presidents Gustav Soderstrom and Alex Norstrom as co-CEOs.
Shares of Instacart operator Maplebear (CART) tumbled as BTIG issued a downgrade to “neutral” from “buy,” pointing to increased competition in the food delivery sector.
Firefly Aerospace (FLY) shares plunged as one of the space launch contractor’s rocket boosters exploded during preflight tests.
Pfizer (PFE) shares gained after the pharmaceutical firm and the Trump administration struck a deal to lower drug prices.
Shares of CoreWeave (CRWV) took off after the provider of artificial intelligence data centers backed by Nvidia (NVDA) announced a new agreement with Meta Platforms (META) valued at up to $14.2 billion.
Lamb Weston Holdings (LW) shares jumped after the maker of frozen potato products beat sales estimates as restaurant demand improved.
Gold futures climbed to a record high before paring back some gains, and oil futures slid. The yield on the 10-year Treasury note was little changed. The U.S. dollar lost ground to the euro, pound, and yen. Major cryptocurrencies traded lower.
