Key Takeaways
- Major U.S. equity indexes wavered between gains and losses at midday Friday after a key measure of inflation showed price pressures easing as anticipated.
- Elastic shares surged after the data analytics software provider’s earnings and outlook exceeded forecasts.
- Shares of HP slid after the PC and printer maker warned tariffs could negatively impact results.
Major U.S. equity indexes wavered between gains and losses at midday Friday after a key measure of inflation showed price pressures easing as anticipated.
Erie Indemnity (ERIE) shares advanced as the insurer posted better-than-expected earnings on higher management fee revenue from policy issuance and renewal services.
Elastic (ESTC) shares surged after the data analytics software provider’s earnings and outlook exceeded forecasts as demand grew for products related to artificial intelligence (AI).
NetApp (NTAP) was the worst-performing stock in the S&P 500 after the data storage firm missed revenue forecasts and gave weak guidance as sales growth slowed.
Shares of HP (HPQ) slid after the PC and printer maker warned tariffs could negatively impact results, and it will cut up to 2,000 jobs.
Dell (DELL) shares also fell after the company’s sales and outlook disappointed.
DoubleVerify (DV) shares plunged as the developer of software for digital media reported weaker-than-expected quarterly results as an expected rebound in post-election ad sales failed to materialize.
Oil and gold futures fell. The yield on the 10-year Treasury note declined. The U.S. dollar was up on the pound and yen, but lost ground to the euro. Prices for most major cryptocurrencies tumbled.
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