Top Stock Movers Now: Ford, Trump Media, D.R. Horton, and More

Investopedia
30 Oct 2024

Key Takeaways

  • Major U.S. indexes were mixed at midday Tuesday as investors weighed the latest corporate earnings news ahead of big tech earnings after the bell.
  • VF Corporation shares soared after the apparel giant beat profit and sales estimates.
  • D.R. Horton shares slumped after the homebuilder warned high interest rates are keeping homebuyers from making purchases.

Major U.S. indexes were mixed at midday Tuesday as investors weighed the latest corporate earnings news ahead of big tech earnings after the bell. The S&P 500 and Nasdaq edged higher, while the Dow ticked lower.

VF Corporation (VFC) shares soared after the struggling apparel maker behind brands including The North Face and Vans reported better-than-expected results and said its turnaround plan is working.

Shares of Truth Social parent Trump Media & Technology Group (DJT), majority-owned by former President Donald Trump, were halted from trading due to volatility after soaring over 21% yesterday. Shares were higher heading into the afternoon.

Cadence Design Systems (CDNS) shares took off as the electronic design automation software firm topped earnings and revenue forecasts and boosted its outlook on demand for its artificial intelligence (AI) products. 

D.R. Horton (DHI) shares plunged and dragged down others in the housing sector after the homebuilder posted weaker-than-expected results and warned buyers are holding off purchases because of high interest rates.

Shares of Stanley Black & Decker (SWK) sank as the toolmaker missed profit and sales estimates and narrowed its outlook on a drop in demand from consumers and in the automotive sector.

Ford (F) shares declined after the Big Three automaker's third-quarter profit missed analysts' expectations and its outlook for the year disappointed. 

Oil futures fell, and gold prices rose. The yield on the 10-year Treasury note advanced. The U.S. dollar gained on the euro and yen, but lost ground to the pound. Most major cryptocurrencies traded in the green. 

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