Key takeout
The major US equity index ended higher after making minor profits in the first market session after President’s Day and fluctuated for most of the session.
The trading week, shortened to holidays, was able to shed light on the Federal Reserve policy trends from officials who are scheduled to provide minutes and comments from the set where the central bank’s latest meeting will be released. Also, on this week’s Tap, there will be revenue reports from celebrities, including retail giant Walmart (WMT).
At the Tuesday afternoon rally, the S&P 500 scored a record with a profit of 0.2% each day. Both the Dow and Nasdaq ended with a rise of less than 0.1%.
Super Micro Computer (SMCI) shares have grown more than 16%, adding most of the S&P 500 shares, extending the string of profits posted since Sever Manufacture offered a business update last week. In addition to forecasting strong revenue growth for fiscal 2026, Super Micro claimed it could meet the February 25 deadline for filing delayed annual reports. Supermicro stocks could face public listing if the company is unable to complete regulatory requirements by that day.
The Wall Street Journal showed that chipmaking could pursue a deal that splits semiconductor giant Intel (INTC), rivals Taiwan Semiconductor Manufacturing Company (TSM) and Broadcom (AVGO). According to the report, Broadcom is considering acquiring Intel’s semiconductor design and marketing business, while TSMC is investigating the possibility of taking over some or all of Intel’s manufacturing facilities. Intel shares rose about 16%.
Walgreens Boots Alliance (WBA) shares have skyrocketed 14% following reports on CNBC that pharmacy operators may still be considering selling to private Sycamore Partners Inc. According to the Financial Network, potential deals to acquire Walgreens’ private seemed to have been shelved a few weeks ago, but there may be new momentum behind the deal.
The heaviest loss of the S&P 500 was Medtronic (MDT) stock, with over 7% falling after medical device manufacturers recorded complex results in the third quarter. Adjusted revenue per share exceeded estimates, but quarterly revenue missed the mark, with sales of Medtronic stapling and blood oxygen management products focusing on its performance.
Conagra Brands (CAG) lowered its year-round sales guidance citing supply concerns, with the packaged food company stock down 5.5%. Hunt ketchup, Orville Ledenbacher popcorn and other grocery store Staples’ parent company faces challenges at key facilities that process chicken for frozen dinners and unexpected rise in demand for frozen vegetables. I pointed out the challenge. Reduced predictions.
Shares of health insurance giant United Health Group (UNH) sunk 4.4% after the Federal Trade Commission said it would retain Biden administration guidelines to consider a merger. Applying these existing rules could lead to a hindrance to the planned acquisition of Home and Hospice Care Provider Amedisys (AMED) by UnitedHealth’s Optum Division.
