- S&P 500 looks to close at fresh monthly lows below 3,300.
- General Electric Co (GE: NYSE) shares rise sharply on Wednesday.
- CH Robinson Worldwide Inc (CHRW: NASDAQ) falls sharply despite upbeat Q3 results.
Wall Street’s main indexes continue to push lower after opening the day deep in the negative territory. As of writing, the S&P 500 Index was down 2.9% on the day at 3,292 and was on track to post its lowest daily close in more than a month.
S&P 500 top movers
Earlier in the day, the General Electric Co (GE: NYSE) reported a smaller-than-expected quarterly loss and positive cash flow following the reduction in costs in its aviation unit and the improvement in its power business revenue. Boosted by the upbeat report, GE is up 8.6% on the day at $7.7 as the top daily percentage gainer of the day.
Automatic Data Processing Inc (ADP: NASDAQ) and Rollins Inc (ROL: NYSE) shares are among the other top performers of the day on upbeat earnings figures, rising 7.1% and 4.8%, respectively.
On the other hand, CH Robinson Worldwide Inc (CHRW: NASDAQ) reported quarterly adjusted earnings of $1.00 per share for the quarter ended in September. Although this reading came in slightly better than analysts’ estimate for earnings of 97 cents per share, CHRW is losing 10% on the day at $90.
Akamai Technologies Inc (AKAM: NASDAQ) and Unum Group (UNM: NYSE) shares are both down more than 9% as the other big losers on Wednesday.
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