The knee-jerk reaction to crude oil prices lifted energy and defense stocks higher and dragged airlines and cruise lines stocks lower in volatile trading.
Levi Strauss lowered its annual sales outlook after weak third-quarter sales. Aehr Test Systems retained its annual sales growth estimate. Tesla cut prices for two models in the U.S.
Volvo AB and Renault SA formed a joint venture to make electric vans. JD Wetherspoon returned to annual profitability after three years of struggle. Metro Bank to sell some mortgage loan assets.
Rivian Automotive said it plans to raise capital through a convertible bond offering. Clorox forecasted a sharp decline in fiscal first quarter sales. Energy stocks extended weeklong losses tracking the reversal in crude oil prices.
Energy stocks declined and cruise lines operators advanced after crude oil prices plunged 5%. Cal-Maine reported a sharp fall in profit after average egg prices plunged.
McCormick reiterated its annual sales and earnings outlook. Macy's said it plans to open smaller stores in locations away from large shopping malls. Eli Lilly agreed to acquire Point Biopharma.
Nike reported mixed quarterly results and guided cautious annual sales outlook. Vail Resorts said quarter loss expanded. Blue Apron agreed to acquired and go private.
CarMax reported weakening demand for used vehicles after higher prices and a surge in financing rates kept buyers away. GameStop appointed activist investor as the company's chief executive. Micron Technology reported weak quarterly results.
Costco Wholesale said net sales and comparable sales in the latest quarter. Target said it will shutter nine stores after persistent theft and organized crime problems.
Federal Trade Commission and attorney generals of 17 states accused Amazon.com Inc of antitrust practices. Thor Industries forecasted weaker sales in the current fiscal year. United Natural Foods plunged after weak quarterly results.
Amazon.com said it plans to invest in artificial intelligence tools developer Anthropic. Chinese electric vehicle maker Nio plans to raise as much as $3 billion. Movie studios were in focus after writers' union reached a tentative agreement to end the six-month long strike.
Avia agreed to acquire AIG's UK life insurance UK business. Entain Plc issued revenue alert for the third quarter and full-year. CRH announced stock repurchase plan.
The U.K. regulators approached one step closer in clearing Microsoft's purchase of Activision Blizzard. Arm Holdings and Instacart traded below their initial public offer prices.
Cisco agreed to acquire cybersecurity company Splunk for $28 billion. Starbucks lifted its quarterly cash dividend. KB Home delivered fewer homes with sharply lower operating margins. Darden Restaurants' same store sales growth showed resilient consumer spending.
Instacart struggled to hold onto its gain on the first day of trading after investors sold shares in active trading. Coty revised higher its comparable annual sales outlook for 2024. Pinterest guided a rebound in sales after a two-year slowdown.
