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- The S&P 500 lost 0.2% on Tuesday, Jan. 9., 2024, as Monday's tech rally lost momentum amid concerns about demand.
- Juniper Networks shares soared after reports that Hewlett Packard Enterprises was in talks to buy the networking equipment provider.
- Shares of Eversource Energy tumbled as it announced an impairment charge related to some of its U.S. wind energy projects.
The S&P 500 fell 0.2% on Tuesday as Monday's tech rally lost momentum amid concerns about demand and the energy sector lost ground. The Dow fell 0.4%, while the Nasdaq managed to post a slight gain of 0.1%.
Juniper Networks (JPNR) was the best-performing stock on the S&P 500 as shares soared 21.8% following reports that the provider of routers and other networking solutions could be acquired by Hewlett Packard Enterprises (HPE). Meanwhile, HPE shares tumbled, leading losses on the index with an 8.9% decline.
Shares of Eversource Energy (ES) dropped 7.7% after the New England-based utility announced that it expects to face an impairment charge of up to $1.6 billion related to three of its offshore wind energy projects in the U.S.
Shares of Catalent (CTLT) moved 5.9% higher after the contract drug manufacturer presented at the JPMorgan Health Care Conference and highlighted its capabilities in the growing market for GLP-1 agonists, a class of drugs used for weight loss and diabetes treatments.
Illumina (ILMN) issued preliminary revenue figures for the fourth quarter and the full year that exceeded analysts' expectations, helping send shares of the biotech firm 4.5% higher.