Why Snap Snapped but Albemarle Powered Higher Tuesday
Stocks got a nice bounce on Monday, although it was unclear whether the positive momentum would last into Tuesday. Investors remain concerned about the lack of consistency from companies reporting their latest financial results, as well as ongoing macroeconomic and geopolitical worries more broadly. As of 7:45 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 160 points to 31,679. S&P 500 (SNPINDEX: ^GSPC) futures had fallen 35 points to 3,937, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were lower by 168 points to 11,868.
As has often been the case in recent weeks, there was plenty of good news and bad news from different companies. Snap (NYSE: SNAP) suffered a big decline as shareholders weren't pleased with the social media company's latest warning, but Albemarle (NYSE: ALB) said good things about the state of its business that made its investors even more optimistic about its future. Read on to learn more about both of these businesses.
Shares of Snap dropped nearly 30% in premarket trading on Tuesday morning. Investors responded unfavorably to the Snapchat parent's disclosure that it expects not to match its previous guidance for the second quarter of 2022.
Source Fool.com
