Stock Market Live November 7: S&P 500 (VOO) Tumbles as Earnings Weaken
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Key Earnings Reports
Canopy Growth (Nasdaq: CGC)
Canopy Growth, a leading Canadian marijuana stock, reported a fiscal Q2 2026 loss of Cdn$0.01 per share, outperforming analyst expectations of a Cdn$0.13 loss. The company’s revenue also showed strength, reaching Cdn$67 million—over Cdn$15 million higher than anticipated. Following the report, Canopy Growth shares rose by more than 3%, while the VOO ETF declined by 1%.
Duke Energy (NYSE: DUK)
In contrast to weak earnings by some peers, Duke Energy exceeded expectations with a Q3 profit of $1.81 per share, beating estimates by five cents, indicating positive investor sentiment for the electric utility sector.
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Stock markets are reacting sharply to these earnings, reflecting the mixed outlook across different industries.
Summary
As earnings reports come in, the S&P 500 ETF (VOO) faces downward pressure, while select companies like Canopy Growth and Duke Energy deliver encouraging results.
Author's summary: Despite the S&P 500 ETF sliding due to weaker earnings overall, certain stocks like Canopy Growth and Duke Energy are beating expectations, showing pockets of strength in the market.