S&P 500 top movers: Franklin Resources Inc (BEN stock) down nearly 12%
|- S&P 500 Index posts modest daily gains on Tuesday.
- Franklin Resources Inc stocks fall sharply on disappointing earnings figures.
- F5 Networks Inc shares post impressive gains on price target hikes.
The S&P 500 Index (SPX) opened little changed on Tuesday and seems to be having a difficult time making a decisive move in either direction. As of writing, the SPX was up 0.12% on a daily basis at 3,404.
S&P 500 top movers
Franklin Resources Inc (BEN: NYSE) reported quarterly adjusted earnings of 56 cents per share for the quarter ended in September. With this reading missing the market estimate of 69 cents per share, the company's shares suffer heavy losses on Tuesday. At the moment, BEN is trading at $20.14, losing 11.8% on a daily basis.
DexCom Inc (DXCM: NASDAQ), Eli Lilly and Co (LLY: NYSE) and Roper Technologies Inc (ROP: NYSE) shares are among other biggest daily percentage decliners, losing 8.9%, 6.1% and 6.2%, respectively.
On the other hand, F5 Networks Inc (FFIV: NASDAQ) reported better-than-expected quarterly sales and noted that profit in the current quarter was expected to be above estimates on stronger software subscriptions. Following these developments, BofA Global Research, Credit Suisse and Cowen and Company hike their price targets for FFIV. As of writing, FFIV was up 8.66% on the day at $136.44.
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