Key Takeaways
- U.S. equities were mixed at midday with new corporate earnings and the semiconductor industry in focus.
- Japan’s SoftBank invested $2 billion in Intel.
- Nvidia’s CEO sold 150,000 shares of the chipmaker’s stock.
U.S. equities were mixed at midday as the market weighed more corporate earnings reports and news from the chip sector. The Dow Jones Industrial Average was up, while the S&P 500 and Nasdaq fell.
Intel (INTC) was the best-performing stock in the S&P 500 when Japan’s SoftBank Group made a $2 billion investment in the struggling chipmaker.
Shares of Palo Alto Networks (PANW) advanced after the cybersecurity firm reported profit, sales, and guidance that beat forecasts on rising demand from companies looking for increasingly powerful tools to protect against hackers.
Home Depot (HD) shares gained when the biggest home-improvement retailer affirmed its guidance on growth in do-it-yourself and construction projects.
Nvidia (NVDA) shares declined on word CEO Jensen Huang sold 150,000 shares of the artificial intelligence semiconductor giant.
Shares of Viking Therapeutics (VKTX) plunged after the biopharma firm’s Phase 2 trial of its experimental weight-loss pill showed a large number of patients experienced adverse side effects.
Oracle (ORCL) shares fell following reports of layoffs and the exit of the cloud software company’s chief security officer.
Oil and gold futures dipped. The yield on the 10-year Treasury note slid. The U.S. dollar advanced on the pound, but lost ground to the euro and yen. Prices for most major cryptocurrencies were down.
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