Key takeaways
- US stocks were mixed at midday on Thursday, February 15, 2024 following a raft of economic data, and retail sales fell more than expected in January.
- Albemarle's wholly owned subsidiary Ketjen helped the world's largest lithium producer beat profit and sales forecasts.
- Farm equipment maker Deere lowered its forecast as farmers hold off on replenishing their fleets.
US stocks were mixed at midday following a raft of economic data, with retail sales falling more than expected in January. The Dow and S&P 500 rose, while the Nasdaq fell.
Zebra Technologies (ZBRA) shares rose after the barcode reader supplier projected a smaller-than-expected loss. He said he anticipates sales will improve and customers will reduce their existing inventories.
Albemarle (ALB) shares rose as the world's largest lithium producer got a boost from its wholly owned subsidiary Ketjen, which sells catalytic solutions to petrochemical and other companies.
Rising demand for artificial intelligence applications boosted sales at software product developer Epam Systems (EPAM) and the stock rose.
Shares of Shake Shack (SHAK) rose after the fast-casual chain reported better-than-expected results from opening 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 cut its outlook as customers withdraw purchases.
Shares of Deere & Company (DE) plunged as the maker of large agricultural and construction equipment cut its full-year guidance and farmers put off replenishing their fleets.
After reporting a slowdown in business sales, shares of Generac (GNRC) fell for the second day in a row after Guggenheim Securities downgraded the stock. Analysts expressed concern about the company's prospects.
Oil and gold futures rose. The 10-year Treasury yield fell. The US dollar lost ground against the euro, pound and yen. The cryptocurrency rally continued with most major digital currencies trading higher.
TradingView
