Stocks are set for a lower Tuesday open on Wall Street, after the S&P 500's Monday record, with the Nasdaq on track for biggest losses.
mark for the first time in a single quarter. Merck also upped its full-year earnings forecast. Both stocks have lagged the S&P 500's 21% 2019 advance. Merck, as of Monday's close, was up nearly 7.5% for the year. Pfizer was down almost 14.6% in 2019.Ethan Brown, founder and chief executive officer of Beyond Meat Inc., speaks during an interview at the Nasdaq MarketSite during the company's initial public offering in New York, May 2, 2019.
about 20% in premarket trading, despite the plant-based burger maker reporting late Monday its first quarterly profit. Revenue in the third-quarter also topped estimates. However, the stock came under pressure after the company said it would need to offer more discounts to deal with growing competition. The IPO also lockup expires Tuesday, allowing insiders to cash out even more shares. As of Monday's close, the stock was up over 320% from its $25 offering price in May.
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