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.
