Key Takeaways
- U.S. equities were mixed at midday Thursday, Feb. 15, 2024 after a slew of economic data, with retail sales dropping more than expected in January.
- Albemarle’s wholly-owned subsidiary Ketjen helped the world biggest lithium producer beat profit and sales forecasts.
- Agricultural equipment maker Deere lowered its guidance as farmers hold back on replenishing their fleets.
U.S. equities were mixed at midday after a slew of economic data, with retail sales dropping more than expected in January. The Dow and S&P 500 were higher, while the Nasdaq was down.
Zebra Technologies ( ZBRA ) shares jumped after the provider of barcode scanners projected a smaller-than-expected loss. It said it anticipates sales improving with customers reducing their existing inventories.
Shares of Albemarle ( ALB ) gained as the world’s biggest lithium producer got a boost from its wholly-owned subsidiary Ketjen that sells catalyst solutions to petrochemical and other firms.
Soaring demand for artificial intelligence applications drove up sales of software products developer Epam Systems ( EPAM ), and shares advanced.
Shake Shack ( SHAK ) shares surged after the fast casual chain reported better-than-expected results as it opened new stores, with plans to expand further in 2024.
West Pharmaceutical Services ( WST ) was the worst-performing stock in the S&P 500 after the supplier of syringes and other pharmaceutical products slashed its outlook as customers pull back on purchases.
Shares of Deere & Company ( DE ) slumped as the maker of big equipment for agriculture and construction cut its full-year guidance with farmers holding off on replenishing their fleets.
After reporting slowing commercial sales , Generac ( GNRC ) shares dropped for a second-straight day after Guggenheim Securities downgraded the stock. Analysts raised concerns about the company’s outlook.
Oil and gold futures gained. The yield on the 10-year Treasury note fell. The U.S. dollar lost ground to the euro, pound, and yen. The cryptocurrency rally continued, with most major digital coins trading higher.
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