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© Reuters.
Investing.com — Stocks were mixed at midday Tuesday as investors waited for clarity on the direction of negotiations over raising the debt ceiling, with a June 1 deadline just weeks away. Here are the market movers for May 16.
- Home Depot Inc (NYSE:) shares fell 1.4% after the home improvement retailer reported weaker-than-expected sales for the and lowered its outlook for the year as shoppers cut down on spending. Same-store sales fell 4.5%.
- Capital One Financial Corporation (NYSE:) shares rose 2.4% after Warren Buffett’s Berkshire Hathaway (NYSE:) disclosed it had taken on a new 9.9 million share position in the card company as of the end of the first quarter.
- Tesla Inc (NASDAQ:) shares were up 1.3% in anticipation of the electric vehicle maker’s annual shareholder meeting this afternoon. Earlier, billionaire George Soros’ fund disclosed it no longer had a stake in the company.
- Horizon Therapeutics PLC (NASDAQ:) shares were falling 15% after the Federal Trade Commission sued to block its $28 billion acquisition by pharma company Amgen Inc (NASDAQ:).
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Newell Brands Inc (NASDAQ:) shares fell 3.6% after the maker of Rubbermaid and other household products cut its dividend by 70%. Last month, Newell disappointed with a wider-than-expected loss in the and a below-forecast second-quarter profit projection.
