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Key Takeaways
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U.S. equities were mixed at midday, with early gains tempered by falling tech shares.
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Nike got an upgrade from Jefferies, which sees the sports apparel firm's profit margin and earnings per share recovering from recent declines.
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Domino's Pizza blamed a slowdown in consumer spending as it missed revenue and same-store sales forecasts.
U.S. equities were mixed at midday, as early enthusiasm was tempered by weakness in tech shares. The Dow Jones Industrial Average gained, the Nasdaq was down, and the S&P 500 was little changed.
Nike (NKE) was the best-performing stock in the Dow and S&P 500 when Jefferies upgraded the stock and raised the price target, arguing it sees a recovery for the sports apparel giant's profit margin and earnings per share (EPS).
Shares of Berkshire Hathaway (BRK.A, BRK.B) gained when Warren Buffett's conglomerate posted a jump in operating earnings on its insurance business and investments.
Bridge Investment Group Holdings (BRDG) shares soared after the real-estate investment firm was bought by Apollo Global Management (APO) for $1.5 billion.
The recent slump in shares of Palantir Technologies (PLTR) continued, on concerns the best-performing company in the S&P 500 in 2024 will lose business because of expected Pentagon budget cuts by the Trump administration.
Shares of Domino's Pizza (DPZ) fell when the pizza delivery giant's revenue and U.S. same-store sales missed estimates as consumer spending slowed.
Western Digital (WDC) shares slid as it completed the planned separation of its Flash division, which began trading on the Nasdaq today as SanDisk (SNDK).
Oil and gold futures rose. The yield on the 10-year Treasury dropped. The U.S. dollar was up on the yen, but lost ground to the euro and pound. Prices for most major cryptocurrencies declined.
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