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US Stocks Lower; Donaldson Earnings Beat Views
U.S. stocks traded lower this morning, with the Dow Jones falling more than 70 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.20% to 38,493.85 while the NASDAQ fell 0.22% to 16,790.91. The S&P 500 also fell, dropping, 0.24% to 5,270.55.
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Leading and Lagging SectorsReal estate shares rose by 0.2% on Tuesday.
In trading on Tuesday, energy shares fell by 1.7%.
Top Headline
Donaldson Company Inc (NYSE:DCI) reported better-than-expected third-quarter earnings and raised its FY24 guidance.
Sales increased 6.0% Y/Y to $927.9 million beating the consensus of $915.8 million, led by higher volume growth and pricing benefits. Adjusted EPS rose 21.7% Y/Y to 92 cents, beating the consensus of 83 cents.
Donaldson raised its FY24 EPS forecast to $3.33-$3.39 (vs. consensus of $3.27) from $3.24-$3.32. The company now anticipates sales growth of 4%-6% Y/Y (vs. 3%-7% earlier).
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