United Airlines says the Israel-Hamas war will hit fourth-quarter results, weakness in investment banking at Morgan Stanley sends the stock lower, and Nasdaq...
Stocks declined Wednesday and oil prices jumped on rising tensions in the Middle East after a blast at a hospital in Gaza killed more than 500 people. Rising bond yields—the yield on the 10-year traded above 4.9%—also were pressuring equities.
Procter & Gamble reported fiscal first-quarter core earnings of $1.83 a share, beating analysts’ forecasts of $1.72. The consumer-goods giant behind Tide and many other household products lowered its all-in sales forecast for fiscal 2024 to a range of 2% to 4%, from previous guidance of 3% to 4%, citing headwinds from foreign exchange. Shares rose 2.4%.
Abbott Laboratories rose 3.1% after the healthcare products company reported better-than-expected third-quarter earnings and boosted profit guidance for the full year. Ardelyx rose 16% after the biopharmaceutical company received approval from the Food and Drug Administration for its kidney disease drug Xphozah. The company’s application for approval of the treatment previously was rejected by the FDA in July 2021.
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