The S&P 500 Index and the Nasdaq Composite were both down in late-morning trading Tuesday after the Conference Board's consumer confidence survey came in below expectations, increasing concern over the state of the US economy.

In company news, Home Depot (HD) reported fiscal Q4 adjusted earnings Tuesday of $3.13 per diluted share, up from $2.86 a year earlier and above the consensus estimate of analysts surveyed by FactSet calling for $3.04. Fiscal Q4 revenue was $39.70 billion, up from $34.79 billion in the year-ago period and above the FactSet consensus estimate of $39.15 billion. For fiscal 2025, Home Depot expects an adjusted diluted EPS decline of about 2% on a revenue increase of about 2.8%.

Eli Lilly (LLY) said Tuesday it has launched 7.5 milligram and 10 milligram single-dose vials of Zepbound, priced at $499 per month through its self-pay Journey program. The company also said it lowered the prices of its 2.5 milligram and 5 milligram vials to $349 and $499 per month, respectively. Eli Lilly shares were up 2.1%.

Thermo Fisher Scientific (TMO) said Tuesday it has agreed to acquire Solventum's (SOLV) Purification & Filtration business for $4.1 billion in cash. The deal, which is expect to be completed by the end of the year, is expected to be dilutive to adjusted EPS by $0.06, Thermo Fisher said. Shares of Thermo Fisher were up 0.2%, while those of Solventum were up 10%.

Nvidia (NVDA) is seeing increased orders for its H20 artificial intelligence chip from Chinese companies like Alibaba Group (BABA), ByteDance and Tencent as demand for DeepSeek's low-cost AI models rise, Reuters reported Tuesday, citing sources familiar with the matter. Nvidia shares were down 3.0%.

Krispy Kreme's (DNUT) Q4 earnings unexpectedly declined due in part to last year's cyber attack, while the company offered a downbeat full-year outlook. Revenue fell 17% to $50.9 million in its core US market due to the July 2024 sale of Insomnia Cookies and the cybersecurity incident, which impacted online ordering, materials replenishment and labor planning, Chief Financial Officer Jeremiah Ashukian said Tuesday on a conference call. The cyberattack dealt an estimated $10 million hit to adjusted earnings before interest, taxes depreciation and amortization, the company said. Krispy Kreme shares were down 27.3%.

Nippon Steel's now-blocked merger agreement with US Steel (X) will be the basis for upcoming talks with the US Department of Commerce, Reuters reported Tuesday, citing Nippon President Tadashi Imai. Shares of US Steel were up 0.4%.

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