Top Stock Movers Now: Tapestry, Deere, Eli Lilly, and More

Kevin Carter / Getty Images Coach and Kate Spade parent Tapestry warned that tariffs would drag down results

Key Takeaways

U.S. equities were lower at midday following a higher-than-anticipated report on July producer prices. Coach and Kate Spade parent Tapestry warned that tariffs would drag down results. Texas Pacific Land Corporation will trade on the new NYSE Texas exchange.

U.S. equities were lower at midday as wholesale inflation rose more than expected in July. The Dow Jones Industrial Average, S&P 500, and Nasdaq were all down.

Tapestry (TPR) was the worst-performing stock in the S&P 500 when the Kate Spade and Coach parent gave lower-than-anticipated full-year guidance as it warned results will be hurt by new U.S. tariffs.

Deere & Co. (DE) also lowered its outlook, saying its customers remain cautious about spending. Shares of the big farm and construction machinery maker sank.

Advance Auto Parts (AAP) shares crashed when the auto parts retailer cut its earnings guidance after taking on a new $1 billion loan.

Texas Pacific Land Corporation (TPL) shares rose after the owner of properties for oil and gas exploration announced it was dual listing its stock on the New York Stock Exchange (NYSE) and the new NYSE Texas exchange in Dallas.

Shares of Eli Lilly (LLY) climbed when the drugmaker said it was boosting the price of its Mounjaro weight-loss treatment in the U.K. by 170%.

Charles Schwab (SCHW) shares were higher after the discount broker and investment firm reported a 15% year-over-year hike in client assets at the end of July.

Oil futures rose. Gold prices fell. The yield on the 10-year Treasury note advanced. The U.S. dollar gained on the euro, pound, and yen. Most major cryptocurrencies traded lower. TradingView

Read the original article on Investopedia

View Comments