Top Stock Movers Now: Tesla, Supermicro, PVH, and More
Key Takeaways
- U.S. equities rose at midday as investors anticipated tomorrow’s tariffs announced by the White House won’t be as tough as anticipated.
- Tesla shares rose ahead of the release of its quarterly deliveries figures expected tomorrow.
- Jefferies warned about slowing summer travel demand, and downgraded Southwest and other airlines.
U.S. equities were higher at midday on optimism the new tariffs President Donald Trump is set to announce tomorrow won’t be as tough as feared. The Dow Jones Industrial Average, S&P 500, and Nasdaq all gained.
Tesla (TSLA) was the best-performing stock in the S&P 500 ahead of the electric vehicle (EV) maker’s quarterly deliveries report expected tomorrow.
Shares of Super Micro Computer (SMCI) advanced as the computer server manufacturer announced the addition of an independent director and general counsel who will focus on compliance after the company’s recent accounting problems.
PVH (PVH) shares jumped after the fashion apparel company behind the Tommy Hilfiger and Calvin Klein brands beat profit, sales, and guidance estimates and launched a new stock buyback plan. PVH credited its long-term strategy for the positive news.
Johnson & Johnson’s (JNJ) shares tumbled when a federal judge rejected a $10 billion class-action settlement over cancer claims related to use of its baby powder.
Shares of Southwest Airlines (LUV) and rival carriers fell following downgrades from Jefferies, which cited concerns about summer travel demand.
Ford Motor (F) shares declined as U.S. sales slid in the first quarter.
Oil and gold futures climbed. The yield on the 10-year Treasury note dropped. The U.S. dollar rose versus the euro, lost ground to the yen, and was little changed against the pound. Prices for most major currencies were higher.
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