Citigroup Stock, JPMorgan Gain on Earnings, Apple Amazon Rise. Dow Still Falls.

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Stock indexes were modestly lower Tuesday after a big Monday for technology shares. There was some bad news on the Covid-19 vaccine front and little progress toward a fiscal stimulus bill in Washington, but most of Tuesday’s action was on the individual stock level, as third-quarter earnings season kicks off.

On Tuesday morning, the

Dow Jones Industrial Average

fell 110 points, or 0.4%, the

S&P 500

also dipped 0.4%, and the

Nasdaq Composite

ticked down less than 0.1%.

It was a contrast to Monday, when stocks jumped on little news during a light Columbus Day holiday and the technology-heavy Nasdaq rallied 2.6% to its third-highest close in history.

Contributing to the lackluster trading on Tuesday was an announcement from

Johnson & Johnson

(ticker: JNJ) on Monday night that it paused its trial of a coronavirus vaccine after an unexplained illness in a trial participant.

It isn’t uncommon for

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Zilingo CFO Perry Resigns to Return to Citigroup for Tech Deals

The logo of Zilingo Pte is displayed on a window at the company's office in Singapore.

Photographer: Ore Huiying/Bloomberg

James Perry, chief financial officer of Singapore’s Zilingo Pte, has resigned from the online fashion marketplace, according to people familiar with the matter, marking a high-profile departure at the once-flourishing startup that has struggled since the coronavirus outbreak.

Perry will return to Citigroup Inc. as Singapore-based managing director and co-head of technology investment banking for Asia Pacific, the people said, asking not to identified because the information is private.

Zilingo didn’t immediately provide a comment. Perry declined to comment when reached on Monday.

The veteran dealmaker joined Zilingo about a year ago after the startup secured a funding from investors including Temasek Holdings Pte and Sequoia Capital in early 2019. Before that, Perry had served as managing director and head of technology investment banking for Citigroup in Asia

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JPMorgan Chase, Citigroup, PepsiCo and Micron Technology are part of Zacks Earnings Preview

For Immediate Release

Chicago, IL – September 28, 2020 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan Chase & Co. JPM, Citigroup Inc. C, PepsiCo, Inc. PEP and Micron Technology, Inc. MU.

Handicapping Q3 Earnings Season

The overall earnings picture has been steadily improving over the last three months as big parts of the U.S. economy have started coming out of the pandemic-driven lockdown. The market will be looking for this improving earnings trend to accelerate in the Q3 earnings season.

The wide majority of companies have fiscal quarters that correspond with the calendar quarters, which is September 30th for Q3. These calendar-quarter companies will start reporting Q3 results after September 30th. Back in the day when Alcoa was in all the major indexes, the aluminum producer was generally seen as kick-starting quarterly reporting cycles.

The rump Alcoa

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