(MENAFN- ProactiveInvestors) Wall Street traded lower today snapping two days of gains amid declines in raw-material and railroad shares as Greek debt talks dragged on.
The S&P 500 (INDEXSP:.INX) skidded 0.6 percent to 2111.94 at 3:42 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) slipped 0.8 percent to 17992.59 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) fell 0.6 percent to 5128.00.
Negotiations continued today with Greek Prime Minister Alexis Tsipras preparing to meet lenders in Brussels. Media reports said Tsipras had told his government the creditors haven't accepted Greece’s latest reform proposal. Eurozone finance ministers were scheduled to hold a Eurogroup meeting on Greece at 7 p.m. Brussels time or 1 p.m.
DATA:
The U.S. economy contracted by a revised 0.2 percent in the first quarter a smaller decline than previously reported that mainly reflects higher consumer spending and a lower drop in exports.
MOVERS:
() fell 0.7 percent to $676.67 reversing an earlier gain. The world's largest subscription streaming service’s board approved a seven-for-one stock split.
() gained 4.3 percent to $51.12 after the second-largest U.S. homebuilder reported a better-than-expected 33 percent jump in quarterly profit as it sold more homes at higher prices.
() fell 4.8 percent to $107.32 after the provider of agricultural said it expects fourth-quarter results to break even while analysts most recently forecast earnings of $0.31.
Ford Motor () gained 1.7 percent to $15.56 after the company said it will test new car-sharing programs with U.S. and U.K. partners as part of a strategy to embrace alternatives to traditional car ownership.
General Motors () slipped 3.2 percent to $35.21 after cut the car maker to “neutral” from “buy.”
Catalyst Pharmaceuticals () advanced 4.3 percent to $4.16 after reporting positive results from a small early-stage study of its drug to treat Tourette’s disorder.
HealthCare Partners () slipped 1.5 percent to $80.33. The Denver Colorado-based company has been subpoenaed by the U.S. Department of Health and Human Services in connection with how the company codes diagnoses for Medicare Advantage patients.
Alcobra (NASDAQ:ADHD) slumped 14.5 percent to $7.17 after the Israel-based Biopharmaceutical company said a Phase 2 clinical trial of a treatment for Fragile X Syndrome a cognitive disorder didn’t meet its primary endpoint.
() skidded 0.8 percent to $143.28 after the aerospace company said Dennis Muilenburg will replace Jim McNerney as its chief executive officer. McNerney will continue to serve as ’s chairman.
McCormick () added 1.6 percent to $81.55 after agreeing to buy Texas-based One World Foods seller of Stubb’s barbecue sauces for $100 million in cash in a bid to expand its grilling products.
COMMODITIES:
Gold for August delivery on Comex fell 0.3 percent to settle at $1172.90 an ounce.
August crude was last down 1.3 percent to $60.24 a barrel on the New York Mercantile Exchange.
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