Stocks move lower...Lyft shares fall again...Durable goods orders fall
NEW YORK (AP) — Stocks are lower on Wall Street as the market pulls back following a three-day rally. Health care and consumer products companies dragged the main U.S. indexes lower in early trading. Walgreens Boots Alliance sank nearly 13% after slashing its forecast for full-year results and turning in quarterly profits that fell far short of what analysts were expecting. CVS Health gave up 4.3%.
NEW YORK (AP) — Shares in the ride-haling company Lyft, the hottest new public stock offering in years, are falling sharply for a second consecutive day. The stock surged in its initial day of trading Friday, but they’ve been hammered this week. Before the opening bell, shares are down another 5% after falling 12% Monday, the first full day of trading in company shares.
WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods fell 1.6% in February, the biggest drop in four months. It reflected a plunge in the volatile commercial aircraft category. Demand in a key sector used to track business investment decisions also declined in February. The Commerce Department says the February decline came after a small 0.1% rise January and was the weakest showing since a 4.3% fall in October.
UNDATED (AP) — Ford’s European boss says that if the United Kingdom can’t work out a deal on how to leave the European Union while guaranteeing “frictionless trade” then the company “will have to consider seriously the long-term future of our investments in the country.” Ford of Europe Chairman Steven Armstrong was speaking at a Ford event in the Netherlands today, the day after British lawmakers voted down a series of alternatives to Prime Minister Theresa May’s Brexit deal with the EU.
BERLIN (AP) — The German government says greenhouse gas emissions in Europe’s biggest economy fell 4.2% in 2018, the first major decrease in four years. Estimates published by the Environment Ministry show Germany released the equivalent of 868.7 million metric tons of carbon dioxide last year, 38 million less than 2017.