On this episode of Stock Movers:
- Dividend Paying Stocks featuring American Water Works (AWK), Procter & Gamble (P&G), and Coca-Cola (KO) are outperforming the S&P 500. This comes on the back of the manufacturing and the retail sales data released earlier today. It is also boosting the bets that there could potentially be two rate cuts from the Federal Reserve based on the swaps markets right now.
- Walmart (WMT) shares are falling. While the retail company delivered another quarter of solid sales and earnings growth, they cautioned that tariffs and increasing economic turbulence means even the world’s largest retailer expects to raise prices. Sales rose 4.5% at US Walmart stores open at least a year for the quarter ended April 30, while adjusted earnings were 61 cents a share. The results are better than what Wall Street analysts were expecting, suggesting a decision to lower prices to win market share is paying off for the chain.
- Deere & Co. (DE) shares hit a record high after earnings beat the highest of analyst estimates, even as the world’s largest farm machinery maker trimmed its profit outlook for the year due to the impact of Donald Trump’s tariffs. Investors are betting the worst is over for Deere as farm markets stabilize and frictions between China and the US over tariffs seem to be abating, paving the way for a recovery in sales next year.
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