Hewlett Packard Enterprise, Salesforce, Visa, and More

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Key Takeaways

  • U.S. equities were mixed at midday after both the Dow and S&P 500 closed at record highs yesterday.
  • Hewlett Packard Enterprise was upgraded by Barclays on its strength in AI.
  • General Motors and Ford Motor were downgraded by Morgan Stanley on Chinese compeition.

U.S. equities were mostly lower at midday Wednesday, a day after the Dow Jones Industrial Average and the S&P 500 closed at fresh record highs. The Dow and the S&P 500 were down, and the Nasdaq was little changed.

Hewlett Packard Enterprise ( ) shares jumped following an upgrade and price target increase from Barclays on the information technology firm’s reach into the artificial intelligence (AI) market.

An AI play lifted shares of Salesforce ( CRM ), which bought startup data management provider Zoomin for $450 million.

Cintas ( CTAS ) shares climbed after the uniform and other business supplies provider posted better-than-expected results and raised its guidance as its gross margin improved.

General Motors ( GM ) and Ford Motor ( F ) shares fell following downgrades from Morgan Stanley, which pointed to competition from Chinese automakers.

Shares of Global Payments ( GPN ) declined when the financial technology firm told investors it was updating its “strategic focus” as it gave guidance for the next three fiscal years.

Visa ( V ) shares declined for a second day on word the U.S. Department of Justice (DOJ) has filed an antitrust lawsuit against the payment processor.

Oil futures dipped. Gold prices reached another all-time high. The yield on the 10-year Treasury note gained. The U.S. dollar was up on the euro, pound, and yen. Most major cryptocurrencies moved lower.

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