Walgreens, International Paper, McCormick, and More

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Walgreens, International Paper, McCormick, and More

Key Takeaways

  • The Dow and Nasdaq rose, while the S&P 500 was little changed at midday Thursday, June 27, 2024 ahead of Friday’s key consumer inflation report.
  • Walgreens Boots Alliance missed earnings forecasts, cut its outlook, and said it would be closing locations because of weak consumer demand, sending shares lower.
  • McCormick & Co. shares surged after the company reported profit and sales that beat analysts’ estimates.

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.

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