Key Takeaways
- U.S. equities were mixed at midday, with the Dow Jones Industrial Average and S&P 500 slightly higher and the Nasdaq marginally lower.
- UnitedHealth Group shares plunged on a report the health insurer is being investigated by the Department of Justice.
- Rising demand for artificial intelligence equipment boosted profit and sales at Cisco Systems.
U.S. equities were mixed at midday, with the Dow Jones Industrial Average and S&P 500 slightly higher and the Nasdaq marginally lower.
UnitedHealth Group (UNH) was the worst-performing stock in the S&P 500 following a report that the Department of Justice was investigating the health insurer for possible Medicare fraud. Shares of rivals were down as well.
Walmart (WMT) shares declined when the biggest brick-and-mortar retailer missed revenue estimates and CEO Doug McMillon said in Thursday’s earnings call that the retailer will be forced raise prices due to tariffs.
Shares of APA (APA) and other energy-related firms declined along with the price of oil after President Trump opened the door to a new nuclear deal with Iran.
Cisco Systems (CSCO) shares advanced when the networking equipment maker posted better-than-expected results and raised its guidance on higher demand for artificial intelligence (AI) products. The company also named a new CFO.
Shares of STERIS (STE) gained after the medical equipment manufacturer beat profit forecasts on improved efficiencies and strategic execution.
Deere & Company (DE) also pointed to disciplined execution for higher-than-anticipated earnings and revenue even as sales declined. Shares hit an all-time high.
Gold futures rose. The yield on the 10-year Treasury note slid. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded lower.
TradingView
:max_bytes(150000):strip_icc()/GettyImages-2198719159-32ed40e8133f46189f8f13340d3d84c5.jpg?w=1200&resize=1200,0&ssl=1&description=Top+Stock+Movers+Now%3A+UnitedHealth+Group%2C+Walmart%2C+Deere%2C+and+More){kind=link}