Top Stock Movers Now: Tapestry, Philip Morris, Ford, and More
Key Takeaways
U.S. equities were mixed at midday as investors focused on the latest batch of corporate earnings reports. The
S&P 500
and
Nasdaq
were up, while the
Dow Jones Industrial Average
was down.
Tapestry (
TPR
) was one of the best-performing stocks in the S&P 500, with shares hitting an all-time high as the parent of fashion retail brands posted record holiday-quarter revenue and raised its outlook thanks to soaring sales at Coach.
Philip Morris International (
PM
) shares also traded at an all-time high after the tobacco giant beat profit and sales estimates as demand for its smokeless alternatives took off.
Higher prices helped Hershey (
HSY
) offset the skyrocketing price of cocoa, and shares of the chocolate giant gained.
Skyworks Solutions (
SWKS
) shares cratered when the cellphone chipmaker warned that increased competition for semiconductors designed for Apple’s (
AAPL
) iPhone would negatively impact future sales.
Shares of Ford Motor (
F
) declined after the carmaker gave soft guidance, saying it anticipates “headwinds related to market factors.”
Honeywell International (
HON
) shares fell when the industrial conglomerate announced plans to split up the company.
Oil futures climbed. Gold prices were little changed. The yield on the 10-year Treasury note advanced. The U.S. dollar was up on the euro and pound, but lost ground to the yen. Most major cryptocurrencies traded lower.
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