Top Stock Movers Now: Cruise Lines, RH, Adobe, Hasbro, and More
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Key TakeawaysU.S. equities lost ground at midday as a report on consumer sentiment in June declined.Cruise line stocks tumbled following a warning about the industry's pricing power from Bank of America.Adobe exceeded earnings and revenue estimates and raised its guidance on demand for its artificial intelligence offerings.
U.S. equities declined at midday as a new report showed consumer sentiment dropped in June, missing forecasts. The Dow, S&P 500, and Nasdaq all fell.Shares of Norwegian Cruise Line Holdings (NCLH), Carnival Corporation (CCL), and Royal Caribbean Group (RCL) all sank after Bank of America warned the cruise industry is losing pricing power.Shares of Stellantis (STLA) dropped as the automaker said it planned to move some electric vehicle (EV) production out of China to Europe because of the possibility of new European Commission tariffs on Chinese-made EV imports.RH (RH) shares plunged when the upscale home furnishings retailer reported a bigger-than-expected loss and gave weak guidance as sales fell because of the tight housing market.Adobe (ADBE) shares skyrocketed after the software maker beat profit and sales estimates and raised its guidance on demand for its artificial intelligence (AI) products.Shares of Hasbro (HAS) gained on an upgrade from Bank of America, which said the toymaker’s digital gaming strategy could lift earnings.Netflix (NFLX) shares increased when the streaming service reportedly expanded its agreement with the production company begun by former President Barack Obama and First Lady Michelle Obama. Oil futures slipped. Gold prices advanced. The yield on the 10-year Treasury note was down. The U.S. dollar rose versus the euro, pound, and yen. Most major cryptocurrencies traded lower.
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