Mixed market with negative corporate news impacting stocks, including Micron Technology and Walgreens Boots Alliance

From Nasdaq: 2024-06-27 11:39:55

Stock indexes today are mixed, with the S&P 500 down -0.03%, the Dow Jones down -0.10%, and the Nasdaq up +0.05%. Negative corporate news impacting the market includes Micron Technology and Walgreens Boots Alliance reporting disappointing results. The markets are eagerly awaiting Friday’s release of the US May core PCE deflator to gauge inflation levels. Overseas markets are lower, and interest rates fell after US economic reports showed unexpected weakness. Micron Technology is down over -5% despite forecasting strong Q4 sales, while Walgreens Boots Alliance is down -24% after cutting its full-year forecast. International Paper is down over -8% as Suzano ends pursuit of the company. Visa is down over -2% after a court rejected a settlement proposal, while McCormick is up over +6% after better-than-expected Q2 net sales. Chip equipment makers are rising after Micron Technology’s positive industry supply forecast. Arista Networks is up over +4% after a price target raise, while Viking Therapeutics and Cargo Therapeutics are up after positive analyst coverage. Earnings reports for 6/27 include NIKE and Walgreens Boots Alliance.



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