In This Article:
Michael Nagle / Bloomberg via Getty Images
Traders work on the floor at the New York Stock Exchange on Thursday, May 15.Key Takeaways
-
The S&P 500 gained 0.4% on Thursday, May 15, as a report showed an uptick in retail sales but a major retailer warned of possible tariff effects.
-
Strong earnings results helped lift shares of Steris, a provider of sterilizers and personal protective gear.
-
Fiserv shares fell after a top executive said growth for the fintech firm's Clover platform is unlikely to accelerate this quarter.
Major U.S. equities indexes were mixed after a report showed that retail sales ticked higher in April.
After opening the session in negative territory, the S&P 500 recovered to close with a daily gain of 0.4%. The Dow added 0.7%, while underperformance in the tech sector pressured the Nasdaq, which fell 0.2%.
Medical equipment maker Steris (STE) topped net income forecasts with its fiscal fourth-quarter results, and its shares surged 8.5% to lead the S&P 500 higher. The provider of infection prevention products reported year-over-year revenue growth across its health care, applied sterilization technology (AST), and life sciences segments.
Although shares of Walmart (WMT) came under pressure after its chief financial officer said elevated tariffs could weigh on profitability, shares of fellow retailer Dollar General (DG) gained 6.0% on Thursday. Analysts have previously suggested that stores like Dollar General and competitor Dollar Tree (DLTR) could have some flexibility to raise prices as competitors across the retail space also begin charging more for products.
Shares of hospital operator HCA Healthcare (HCA) advanced 4.9% after Bank of America boosted its price target on the stock and affirmed its "buy" rating. Analysts pointed to strong demand for HCA's health care services as well as the company's effective cost management.
The chief financial officer (CFO) of Fiserv (FI) said the growth trajectory of its point-of-sale platform, Clover, is unlikely to improve this quarter. According to the executive, prior growth for Clover came from the company's existing clients migrating to the platform, which can't be repeated. Fiserv shares dropped 16.2% on Thursday, the most of any S&P 500 stock.
UnitedHealth Group (UNH) shares tumbled 10.9% following a report indicating that the Department of Justice is investigating the insurer for potential Medicare fraud. The move lower exacerbates heavy losses for the stock earlier this week after the firm announced the departure of its CEO and suspended its 2025 forecasts.
Shares of First Solar (FSLR) slipped 3.5%, reversing a portion of the strong gains posted earlier this week after a Congressional proposal suggested a relatively bright outlook for solar providers compared with expectations. The proposal from the House Ways and Means Committee would leave a key credit for the solar industry mainly intact.
Read the original article on Investopedia