IBM and Tesla Stocks Drop, More Moderate Stock Gains and Losses
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iStock/Thinkstock(NEW YORK) — Small gains and losses on Wall Street and a bad day for IBM and Tesla.
The Dow Jones Industrial Average dropped 13.43, closing the session at 17217.11.
The Nasdaq ended the session down 24.50, to close at 4880.97, while the S&P 500 lost 2.89, closing the day at 2030.77.
After IBM missed revenue estimates for the third quarter, the tech giant’s shares went down 5.5 percent. According to the Wall Street Journal, IBM CEO Virginia “Ginni” Rometty spoke at the WSJDLive 2015 conference saying she had plans to stay as the company’s chief for the longterm, despite critics saying she’s running out of time.
Tesla Motors, Inc. dropped 6.61 percent on Tuesday, after Consumer Reports pulled the Model S luxury electric car from its recommendation list. As a part of Consumer Reports‘ Annual Auto Reliability Survey, the vehicle’s predicted reliability was reported to have a “worse-than-average overall problem rate,” involving such factors as drivetrain, power equipment, rattles, leaks, and body and sunroof squeaks. However, Consumer Reports still maintains the Model S is the best-performing car they have ever tested.
Amazon is preparing for a lot of holiday traffic. On Monday the online retailer announced the company is planning to hire 100,000 seasonal workers in the U.S. for this year’s holiday season. Wal-Mart is planning on bringing in 60,000 new workers this year and Target wants to hire 70,000.
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