Important points
U.S. stocks fell midday after a better-than-expected report on consumer inflation. The solar power company’s stock price fell after Jefferies lowered its target price for First Solar. CVS Health was upgraded by Barclays and its stock price rose.
U.S. stocks fell midday after a report on consumer prices showed higher-than-expected inflation, sending the S&P 500 index down from a record high. The Dow Jones Industrial Average and Nasdaq also fell.
Pfizer (PFE) stock fell after two former executives released statements supporting current management in its battle with activist investor Starboard Value. Starboard accused people at the company of threatening the pair.
First Solar (FSLR) was the worst performer in the S&P 500 when Jefferies lowered its price target, warning that this quarter’s earnings would be lower than expected due to delays. Shares of solar power companies Enphase Energy (ENPH) and SolarEdge Technologies (SEDG) also fell.
PayPal Holdings (PYPL) shares fell sharply after Bernstein cut the stock price, saying there was no room for it to rise after recent gains.
Barclays’ upgrade has boosted CVS Health (CVS) stock, with analysts saying the pharmacy chain and health care company has an attractive opportunity for margin recovery.
CrowdStrike Holdings (CRWD) stock rose after RBC Capital named the cybersecurity provider one of the top software ideas of 2025.
Oil futures and gold futures rose. Yields on 10-year U.S. Treasuries were high. The US dollar rose against the euro and pound, but fell against the yen. The prices of most major cryptocurrencies have fallen.
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