Lennar, NextEra Energy, La-Z-Boy, and More
- September 7, 2024
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.
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.
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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