Wall Street

Main S&P 500 contributors: J.B. Hunt Transportation shares down by 9% amid disappointing third-quarter earnings of the year

S&P 500 settled by modest daily gains on Friday, while J.B. shares fell. Hunt Transportation Services posted disappointing third-quarter earnings, while General Electric shares rose more than 5%.

The S&P 500 opened slightly higher resulting of strong retail sales in the US on Friday and remains on track to close the day in positive territory. As of writing, the SPX is up 0.52% on the day at 3,502.

Main S&P 500 shareholders and JB Hunt Transportation Services reported earnings of $1.18 per share for the third quarter, compared to analysts’ estimates of $1.28. The disappointing earnings per share value caused a sharp decline in the company’s shares. As of this writing, JBHT stock is down 9.1% on the day at $128.81.

Similarly, Schlumberger reported a third consecutive quarterly loss on Friday, and SLB stock was down 8.2% on the day at $15.10.

On the other hand, shares of General Electric, WestRock Co, and Laboratory Corporation of America Holdings held the top three gains today, by up 5.75%, 4.7% and 3.73%, respectively.

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