- S&P 500 Index posts modest losses on Wedensday.
- Autodesk Inc shares register impressive gains on upbeat earnings figures.
- Gap Inc (GPS: NYSE) stock falls nearly 20%.
The S&P 500 Index (SPX) started the day in the negative territory and struggled to stage a meaningful rebound as the market action remains subdues ahead of the Thanksgiving Day holiday. As of writing, the SPX was down 0.33% on the day at 3,623.
S&P 500 top movers
After the closing bell on Tuesday, Autodesk Inc (ADSK: Nasdaq) reported $952 million revenue in the third quarter and surpassed the analysts' estimate of $942.2 million. Stifel, RBC, Credit Suisse and Baird hiked their price targets after the upbeat report and provided a boost to the software maker's stock. After touching a fresh record high of $282,49, ADSK retreated slightly and was last seen gaining 5.85% on the day at $274.
Among the other top gainers of the day, ETSY Inc (ETSY: Nasdaq), HP Inc (HPQ: NYSE) and PayPal Holdings Inc (PYPL: Nasdaq) shares were up 5.6%, 2.65% and 2.6%, respectively.
On the other hand, Gap Inc (GPS: NYSE) announced earnings per share of $0.25 in the third quarter, which fell short of analysts' estimate of $0.32. As of writing, GPS was down 19.6% on the day at $21.59 as the biggest daily percentage decliner.
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