Midday movers: Foot Locker, Deere & Co., Morgan Stanley and more

  • Investing.com
  • Stock Market News
Midday movers: Foot Locker, Deere & Co., Morgan Stanley and more
Credit: © Reuters.

Investing.com -- Stocks gave up earlier gains and turned negative after reports talks over raising the debt ceiling were put on hold, killing optimism that a deal could get done this weekend. Here are the market movers for May 19.

  • Foot Locker Inc (NYSE: FL ) shares tumbled 26% after the athletic apparel retailer reported disappointing first-quarter results and cut its outlook for the full year, citing a challenging economic backdrop.
  • Deere & Company (NYSE: DE ) shares fell 2.3% despite beating expectations and raising its profit forecast for the year. After a strong quarter of tractor and precision agriculture machinery sales, the company continues to see a strong order book.
  • Morgan Stanley (NYSE: MS ) shares fell 2.3% after the investment banking and wealth management giant said James Gorman has indicated plans to step down as CEO in the next year.
  • Applied Materials Inc (NASDAQ: AMAT ) shares fell 2.3% after the maker of equipment for chip manufacturing reported quarterly sales rose 6%, more than expected, and its forecast for net sales and earnings per share in the current quarter are higher than expectations.

  • Farfetch Ltd (NYSE: FTCH ) shares jumped 21% after the luxury fashion e-commerce company reported better-than-expected first-quarter earnings as gross merchandise value rose beyond forecasts.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search