Stocks – Wall Street Opens Down; Uber Hits New Low as Lockup Ends

Investing.com – Wall Street fell on Wednesday as a lack of fresh news from the U.S.-China trade war left a flurry of mixed earnings in focus.

The was down 12 points or 0.1% by 9:44 AM ET (13:44 GMT), while the S&P 500 slipped two points or 0.1% and the declined 24 points or 0.3%.

Among the biggest losers was Uber (NYSE:), which fell to a new post-IPO low of $25.59 after the lockup on early investors expired. Bloomberg reported that a block trade of around 2 million shares, some 4% of the company’s stock, was executed at a price of $26.90. By 10 AM ET (1500 GMT), the shares had recovered slightly to $27.20, down 2.9% on the day. However, Bloomberg warned that there could be further such block trades hitting the market later in the day.

Elsewhere, Match Group (NASDAQ:) tumbled 5% after the dating site owner gave weak guidance for the fourth quarter, citing stronger competition, while CenturyLink (NYSE:) fell 2.9% after the network operator agreed to pay $400,000 to settle Federal Communications Commission violations over a 911 service outage.

CVS Health (NYSE:) jumped 4.4% after its earnings and revenue beat forecasts. HP Inc (NYSE:) jumped 12% on reports that Xerox (NYSE:) is considering a $27 billion takeover bid in a consolidation move in the face of falling demand for printed products.

Barrick Gold (NYSE:) gained 3% after it raised its dividend due as new investments, notably its Turquoise Ridge mine, led to higher output and better cash flow. The company has paid down almost a quarter of its total net debt in the last 12 months as gold prices have soared.

In commodities, the , which measures the greenback against a basket of six major currencies, was down 0.1% to 97.675 and inched up 0.3% to $1,487.95 a troy ounce. gained 0.2% to $57.33 a barrel.

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