- U.S. stocks traded lower on Tuesday, with the S&P 500 falling 0.36% to 7,690.48 and the Dow dropping 1.06% to 52,849.66.
- ABM Industries Inc reported better-than-expected Q3 adjusted earnings of $1.04 per share and sales of $2.317 billion.
- Crude oil gained 1.5% to trade at $92.88, while gold fell 0.8% to $4,443.00.
- Jefferies analyst Andrew Tsai maintained a buy rating on Dyne Therapeutics with a target price of 50.00 dollars.
- The rating is driven by the company's advanced muscle disease platform targeting a multi-billion-dollar market with strong clinical data for treatments like z-basivarsen.
- The dual-pathway approval strategy involving accelerated and functional endpoint trials provides significant upside potential and a favorable risk-reward profile.
- U.S. stock futures declined sharply during Tuesday's pre-market session, with Dow futures falling over 400 points.
- Novartis shares tumbled 12.7 % after reporting that its pelacarsen phase III Lp(a) HORIZON trial failed to meet its primary endpoint.
- Other notable movers included Ionis Pharmaceuticals dropping 11.5 % in sympathy and Dyne Therapeutics dipping 35.5 %.