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Key Takeaways
- U.S. equities were little changed at midday Tuesday, June 18, 2024, following a weaker-than-expected report on retail sales.
- Lennar warned about deliveries of houses in the third quarter, sending shares of home builders lower.
- La-Z-Boy shares surged after the company beat earnings forecasts and said it will be expanding to keep up with demand.
U.S. equities were little changed at midday Tuesday following a report showing retail sales in May rose less than expected.
Shares of home builders tumbled as Lennar’s (LEN) outlook for third-quarter home deliveries fell short of analysts’ estimates.
Shares of NextEra Energy (NEE) tumbled after the renewable energy provider announced it was selling $2 billion worth of equity units.Â
La-Z-Boy (LZB) shares gained as the maker of recliners and other home furniture beat profit estimates and said it will expand in order to meet demand.Â
Shares of Silk Road Medical (SILK) skyrocketed as Boston Scientific (BSX) announced it was purchasing the medical device maker for about $1.26 billion. Boston Scientific shares were slightly higher.
Teradyne (TER) shares advanced as UBS raised its price target, citing potential earnings growth ahead for the electronic testing manufacturer.
Oil and gold futures were higher. The yield on the 10-year Treasury note dropped. The U.S. dollar was higher against the pound and yen, but lost ground to the euro. Prices for most major cryptocurrencies were lower.
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