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The Dow falls more than 200 points while the S&P 500 threatens to cross into a bear market.
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The stocks making the biggest moves in premarket trading include Best Buy, Abercrombie & Fitch, Snap, and more.
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Wall Street pointed to another sell-off as S&P 500 remains close to bear territory.
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 Petco Health & Wellness Co. Inc. shares rose 4.5% in Tuesday premarket trading after it reported first-quarter profit and revenue that beat expectations. The company posted net income of $24.7 million, or 9 cents per share, up from $7.6 million, or 3 cents per share, last year. Adjusted EPS of 17 cents beat the FactSet consensus for 15 cents. Revenue of $1.476 billion was up from $1.415 billion last year and ahead of the FactSet consensus for $1.450 billion. Comparable sales growth was 5.1%, beating the FactSet consensus for 2.8% growth. Petco maintained its fiscal year guidance for net revenue of $6.15 billion to $6.25 billion and adjusted EPS of 97 cents to $1. The FactSet consensus is for revenue of $6.194 billion and EPS of 99 cents. Petco stock is down 26.2% for the year to date while the S&P 500 index is down 16.6% for the period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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A slew of internet stocks were sharply lower premarket Tuesday, caught up in the wave of selling sparked by Snap Inc.'s warning late Monday that second-quarter earnings would lag estimates. Snap CEO Evan Spiegel issued the warning at a JP Morgan technology conference, and the company filed it with the SEC. Spiegel said that the economy has "definitely deteriorated further and faster" than Snap SNAP, -3.40% had expected when it gave its forecast during its earnings call last month. He added that the Snapchat parent is slowing its hiring pace for the year and looking for ways to cut costs. Snap shares fell 30%, Meta Platforms Inc. was down 7%, Alphabet Inc. was down 3.5%, Pinterest Inc. was down 13%, Twitter Inc. was down 3.6% and Amazon.com Inc. was down 2%. Netflix Inc. fell 1.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Shares of AutoZone Inc. rose 1.1% in premarket trading Tuesday, after the automotive replacement parts retailer reported fiscal third-quarter earnings that rose above expectations and surprise growth in same-store sales, citing strength in both retail and commercial sales. Net income for the quarter to May 7 was $592.6 million, or $29.03 a share, after earnings of $596.2 million, or $26.48 a share, in the year-ago period, as the weighted average number of diluted shares outstanding declined 9.3% to 20.41 million. The FactSet consensus was for earnings per share of $26.18. Sales grew 5.9% to $3.87 million, above the FactSet consensus of $3.71 billion, while same-store sales growth of 2.6% beat expectations of a 0.1% decline. Cost of sales increased 7.1% to $1.86 billion, as gross margin contracted to 51.9% from 52.4%. The company spent $900 million to repurchase 449,000 shares during the quarter. The stock has lost 13.9% year to date through Monday, while the S&P 500 has declined 16.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Dole PLC shares slid 3% in premarket trade Tuesday, after the distributor of fruit and vegetables swung to a loss for the first quarter and posted revenue that fell short of estimates. Dole posted a net loss of $1.4 million, or 1 cent a share, for the quarter, after income of $21.3 million, or 38 cents a share, in the year-earlier period. Adjusted per-share earnings came to 30 cents, ahead of the 27 cent FactSet consensus. Revenue rose to $2.245 billion from $1.051 billion a year ago, below the $2.324 billion FactSet consensus. "We are pleased with the result that the Group has delivered for the first quarter of 2022 particularly as we were impacted by the Value Added salads recall and foreign currency translation movements in the quarter," CEO Carl McCann said in a statement. The recall and currency moves shaved $112 million off revenue in the quarter, he said. The company is now expecting full-year revenue to range from $9.4 billion to $9.7 billion, compared with a FactSet consensus of $9.7 billion. Shares have fallen 16% in the year to date, while the S&P 500 has fallen 16.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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The Food and Drug Administration said Monday an advisory panel would meet June 15 to discuss use of the vaccines developed by Pfizer Inc. and German partner BioNTech SE as well as the one developed by Moderna Inc. in children aged 6 months to four years old. The announcement came after Pfizer and BioNTech said three doses of their vaccine proved 80% effective at preventing symptomatic infections in children in that cohort. If the panel adopts a positive opinion on the shots, the FDA could authorize them by as soon as June 16 or 17, bringing relief to parents of children who will finally be eligible for vaccination.
COVID cases continue to rise across the U.S. and trend at the highest levels seen since March, driven by the BA.2 variant of omicron, and two other subvariants that appear to be even more infectious. The U.S. is averaging 107,316 cases a day, up 46% from two weeks ago, according to a New York Times tracker. The country is averaging 24,747 hospitalizations a day, up 28% from two weeks ago. The daily death toll has fallen to 312 on average, down 15% from two weeks ago. Cases are higher in nearly every state, but the Northeast and Midwest are being particularly hard hit with case reports in both regions now higher than they were at the peak of last summer's delta surge. There are concerns that case numbers are even higher, as many people are now testing at home and the data is not being collected.
On a global basis, total cases are now above 5256 million. Total deaths are above 6.27 million, according to data aggregated by Johns Hopkins University, with the U.S. still leading the way with 83.4 million cases and 1,002,377 deaths.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 It's ‘Finance 101 stuff' that Treasury yields need to stabilize before it's possible to gauge if U.S. equities have hit bottom, according to DataTrek Research.
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 These three long-term winners have dipped to levels that make them attractive buys.
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Dow Jones Futures Fall, Tech Futures Sell Off As Snap Crashes 30% On Q2 Warning Investor's Business DailyAsia stocks slip with US futures, euro holds gains By Reuters Investing.comS&P Futures Show Speculation on End-Of-Day Gains BarchartStocks, Futures Decline on China Angst, Tech Slide: Markets Wrap Yahoo Canada FinanceAsian markets under pressure amid concerns over inflation, rising rates ANC 24/7View Full Coverage on Google News
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 Seventy-eight percent of adults were 'doing ok' or 'living comfortably' last fall, highest on record, Fed survey shows.
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An analyst cuts his price targets on the two prominent cruise line companies.
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Stocks jumped Monday as the market tried to recover some of the losses from a relentless sell-off that has gripped Wall Street.
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All three major stock benchmarks ended sharply higher Monday, kicking off the week with gains as shares in the financials sector jumped. The Dow Jones Industrial Average closed up almost 619 points, or about 2%, while the S&P 500 climbed around 1.9% and the Nasdaq Composite rose about 1.6%, according to preliminary FactSet data. The financials sector booked the biggest gains in the S&P 500 index, rising around 3.2% Monday, as Wall Street banks JPMorgan Chase & Co. and Citigroup Inc. each jumped around 6%, preliminary FactSet data show.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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A nice bounce for the stock market continued Wall Street's upward momentum.
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Bausch Lomb, a well-known leader in eye care, is about to hit Wall Street in what investment bankers almost certainly hope will jump-start a weak initial public offering (IPO) market.
Bausch Health Companies (BHC) is a global healthcare stock that develops pharmaceuticals, medical devices and over-the-counter medications, with focus areas in eye health, gastroenterology and dermatology.
SEE MORE 7 Best Biotech Stocks to Build Your Portfolio
However, to help streamline its operations and pay down debt, Bausch is spinning off its Bausch Lomb eye care division in what is shaping up to be one of 2022's most anticipated IPOs.
Bausch Lomb sells contact lenses, eye drops and even implantable lenses for cataract surgery in more than 100 countries. The division boasts more than 400 products, more than 260 of which came on the market since 2017.
You can thank Bausch Lomb's robust R&D arm, which has about 850 employees. The current product pipeline includes more than 100 projects, such as treatments for dry eye, contact lenses to slow myopia, and next-gen cataract equipment.
The focus on innovation has helped to grow the top line. For 2021, division revenues jumped by 10.6% to $3.8 billion - part of BHC's overall revenues of $8.4 billion, up 5% - and the company flipped from a loss of $17 million to a net gain of $193 million.
"While it faces significant competition from other brands and generic products, the company is highly profitable with strong cash flow
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