U.S. Stocks Open Lower on Tuesday; Sea Stock Sinks on Weak Q1 Results
Tiger Newspress2023-05-16
U.S. Stocks dipped Tuesday as investors digested a lackluster forecast from Home Depot, and turned their attention to a meeting between congressional leaders and President Joe Biden on the U.S. debt ceiling.
Dow member Home Depot pulled back by 2.7% after the home improvement retailer reported disappointing quarterly revenue and cut its full-year guidance.
Sea Ltd.’s earnings missed estimates after gaming revenue plunged 43% and it swallowed a one-time charge of more than $100 million, putting the Southeast Asian internet firm under pressure to sustain profitability. Its shares dived more than 13% in morning trading.
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