Walgreens, International Paper, McCormick, and More

The Dow and Nasdaq rose, while the S&P 500 was little changed at midday Thursday, ahead of Friday’s key consumer inflation report, which could influence the Federal Reserve’s decisions about the future of interest rates.

McCormick & Co. (MKC) shares jumped after the spice maker reported second-quarter profit and sales that beat analysts’ estimates and said it anticipates volumes will improve in the second half of the year. 

Shares of Arista Networks (ANET) gained as Citi raised its price target for the stock, saying it anticipates the computer networking firm will benefit from surging demand for artificial intelligence (AI).

Intuit (INTU) shares advanced as global payments provider Airwallex announced it would integrate with Intuit’s QuickBooks accounting software. 

Walgreens Boots Alliance (WBA) was the worst-performing stock in the Dow and S&P 500 as the pharmacy chain and healthcare provider missed earnings forecasts, slashed its outlook, and said it would make significant store closings because of soft consumer demand.

Shares of International Paper (IP) tumbled when Brazil’s Suzano said it ended its effort to purchase the paper giant.

Micron Technology (MU) shares dropped after the company reported third-quarter profit that missed analysts’ estimates and offered soft revenue guidance.

Oil and gold futures were higher. The yield on the 10-year Treasury note declined. The U.S. dollar lost ground to the euro, pound, and yen. Prices for most major cryptocurrencies were up.