BREAKING: Futures Mixed After Stocks Jump On Russia-Ukraine Optimism
Nielsen Holdings (NLSN), Epam Systems (EPAM) and Penn National Gaming (PENN) were the top three S&P 500 index gainers on the stock market today. Mosaic (MOS), CF Industries (CF) and Archers-Daniels-Midland (ADM) were the S&P 500’s biggest losers on Tuesday.
NLSN stock shot up 20% to 26.72. A private equity consortium will buy Nielsen Ratings for $16 billion, or $28 a share.
EPAM stock jumped 11.4% to 306.64 after hitting 330 intraday. Epam Systems has a lot of staff in Ukraine and Belarus, so Russia-Ukraine peace talks optimism is good news for the IT outsourcer. But EPAM stock is still down more than 50% from its late 2021 peak.
PENN stock rallied 6.5% to 44.35. But shares of Penn National Gaming remain below their 50-day line and haven’t touched their 200-day line in 10 months.
MOS stock fell 5.1% to 64.48, but well off intraday lows of 58.95 and still close to Friday’s long-time high. Mosaic and other fertilizer makers have benefited from the Russia-Ukraine war. Belarus’ potash exports have been cut off, while European fertilizer makers face much higher natural gas costs. So a cease-fire could reverse those trends.
CF stock declined 5.1% to 99.78, also well off intraday lows. CF Industries is another fertilizer maker like Mosaic.
ADM stock lost 4.9% to 87.84. The farm products giant has benefit as wheat, corn and soya futures have soared in recent weeks. Those ag products’ prices fell on Tuesday.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
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