Which companies were in focus?
Shares of T-Mobile US and Sprint surged after The Wall Street Journal said a federal judge approved their merger. Sprint’s stock closed 77.5% higher Tuesday, while T-Mobile shares gained 12%
Shares of Under Armour Inc. ’s Class A shares /zigman2/quotes/208967132/composite UA +5.09% dropped 19% after the maker of athletic apparel reported fourth-quarter earnings and revenue that missed expectations and provided downbeat guidance.
Ho me Depot Inc. /zigman2/quotes/208081807/composite HD -0.48% said Tuesday it would hire 80,000 people for its spring season, the same number as last year. Shares gained 0.4% Tuesday.
Shares of Slack Technologies Inc. /zigman2/quotes/212180539/composite WORK +6.08% fell 2.1%, after the company poured cold water on a news report that said International Business Machines Corp . /zigman2/quotes/203856914/composite IBM -0.0080% would bring the service to its employees world-wide. Slack said IBM had already been its largest customer for several years and wouldn’t update its financial guidance. Shares of Slack were halted late Monday when they gained 15%.
Goodyear Tire & Rubber Co. shares /zigman2/quotes/210067261/composite GT +4.34% slumped 12.4% after it reported revenues and earnings below analyst expectations. It also said that its China operations had been disrupted by the coronavirus outbreak.
How did other markets trade?
The ICE U.S. Dollar index /zigman2/quotes/210598269/delayed DXY -0.54% was down less than 0.1%, but has gained against its major rivals by around 2.5% year-to-date.
West Texas Intermediate crude futures for March delivery rose 37 cents, or nearly 0.8%, to settle at $49.94 a barrel on the New York Mercantile Exchange. In precious metals, gold for April delivery fell $9.40, or 0.6%, to settle at $1,570.10 an ounce on Comex.
In Europe, stocks traded sharply higher, with the Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP +1.10% closing up 0.9%. In Asia, the CSI 300 /zigman2/quotes/210598128/delayed XX:000300 +2.70% , the benchmark for mainland China listed stocks, gained 0.9%.