S&P 500 Gains and Losses Today: McKesson Falls Amid Plans To Exit Canada Businesses

Market Overview - The S&P 500 declined by 0.3% on September 5, marking its third consecutive day in negative territory, while the Dow fell by 0.5% and the Nasdaq rose by 0.3% [1] - The latest ADP jobs data indicated a smaller-than-expected increase in private payrolls for August, contributing to concerns about the labor market ahead of the upcoming Bureau of Labor Statistics employment report [1] McKesson - McKesson's shares dropped by 9.9%, the largest decline among S&P 500 stocks, following the announcement of lower-than-expected profit guidance for Q2 and plans to sell its Canada-based businesses, Rexall and Well.ca, to Birch Hill Equity Partners [2] - The company stated that the divestiture will enable it to focus on investments in oncology and biopharma services [2] Zimmer Biomet - Zimmer Biomet's shares fell by 8.7% after executives warned that the implementation of a new enterprise resource planning (ERP) system could negatively impact performance in the second half of 2024, affecting production and shipping processes [2] Copart - Copart reported mixed results for its fiscal Q4 2024, with shares declining by 6.7%. Revenue increased year-over-year but net income fell short of forecasts due to rising operating expenses [3] Dollar Tree - Dollar Tree's shares surged by 7.7%, recovering partially from a previous 22% drop. The retailer missed earnings estimates and lowered its full-year guidance, citing strong macroeconomic headwinds [3] Marketaxess Holdings - Marketaxess Holdings saw its shares increase by 6.7% after reporting strong growth in trading volume for August, particularly in U.S. high-grade credit and municipal bonds [4] Tesla - Tesla's shares rose by 4.9% as the company announced plans to launch its full self-driving technology in Europe and China in Q1 2025, pending regulatory approval. CEO Elon Musk's comments regarding Tesla's robotics unit also garnered attention [4]