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Top Stock Movers Now: Tapestry, Philip Morris, Ford, and More
Key Takeaways
U.S. equities were mixed at midday as investors focused on the latest batch of corporate earnings reports. The S&P 500 and Nasdaq were up, while the Dow Jones Industrial Average was down.
Tapestry ( TPR ) was one of the best-performing stocks in the S&P 500, with shares hitting an all-time high as the parent of fashion retail brands posted record holiday-quarter revenue and raised its outlook thanks to soaring sales at Coach.
Philip Morris International ( PM ) shares also traded at an all-time high after the tobacco giant beat profit and sales estimates as demand for its smokeless alternatives took off.
Higher prices helped Hershey ( HSY ) offset the skyrocketing price of cocoa, and shares of the chocolate giant gained.
Skyworks Solutions ( SWKS ) shares cratered when the cellphone chipmaker warned that increased competition for semiconductors designed for Apple's ( AAPL ) iPhone would negatively impact future sales.
Shares of Ford Motor ( F ) declined after the carmaker gave soft guidance, saying it anticipates "headwinds related to market factors."
Honeywell International ( HON ) shares fell when the industrial conglomerate announced plans to split up the company.
Oil futures climbed. Gold prices were little changed. The yield on the 10-year Treasury note advanced. The U.S. dollar was up on the euro and pound, but lost ground to the yen. Most major cryptocurrencies traded lower.
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