© Reuters
Investing.com — U.S. stocks were flat around midday on Thursday after a spate of retail earnings reports and the Federal Reserve’s minutes from its July policy meeting.
Here are some of the biggest U.S. stock movers today:
- Walmart (NYSE:) stock was down 1.8% despite raising its full-year forecast as sharp online growth fueled strong quarterly sales. However, the world’s largest retailer also sounded a cautious note, warning consumers could still see a hit to their spending power in the coming year to 18 months.
- CVS (NYSE:) stock was down 9% following reports that Blue Shield of California announced it will no longer be using CVS Health’s Caremark, its current pharmacy-benefit manager.
- Wolfspeed (NYSE:) stock slumped 16.4% after the EV chipmaker said its next loss would be more than previously expected, issuing disappointing future guidance.
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Cisco Systems (NASDAQ:) stock rose 4% after the networking equipment maker’s chief executive, Chuck Robbins, talked up market share wins and artificial intelligence opportunities.
- Hawaiian Electric (NYSE:) stock fell 15% with the ongoing wildfires on Maui island likely to be expensive in terms of replacing infrastructure.
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Ball (NYSE:) stock rose 3% after BAE Systems (LON:) agreed to buy the packaging and aerospace manufacturing company’s aerospace assets for about $5.55 billion.
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Stellantis (NYSE:) stock fell 0.1% after the automaker said it would invest more than $100 million in California’s Controlled Thermal Resources, its latest bet on the direct lithium extraction sector.
- America Movil (NYSE:) stock rose 3.9% after Citigroup upgraded its stance on the Mexico-based telecommunications company to ‘buy’ from ‘neutral’, citing its valuation after a recent pullback.
- Tapestry (NYSE:) stock rose 0.5% after the Coach parent forecast fiscal 2024 profit below estimates and reported lower-than-expected quarterly sales on Thursday, as demand for its luxury handbags and accessories slows down.
— Peter Nurse contributed to this report
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