Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers. The Small Agriculture and Turf segment offers utility tractors, and related loaders and attachments; turf and utility equipment, including riding lawn equipment, commercial mowing equipment, golf course equipment, and utility vehicles, as well as implements for mowing, tilling, snow and debris handling, aerating, residential, commercial, golf, and sports turf care applications; other outdoor power products; and hay and forage equipment. This segment also resells products from other manufacturers. It serves dairy and livestock producers, crop producers, and turf and utility customers. The Construction and Forestry segment provides a range of backhoe loaders, crawler dozers and loaders, four-wheel-drive loaders, excavators, motor graders, articulated dump trucks, landscape and skid-steer loaders, milling machines, pavers, compactors, rollers, crushers, screens, asphalt plants, log skidders, log feller bunchers, log loaders and forwarders, log harvesters, and attachments; and roadbuilding equipment. The Financial Services segment finances sales and leases agriculture and turf, and construction and forestry equipment. It also offers wholesale financing to dealers of the foregoing equipment; and extended equipment warranties, as well as finances retail revolving charge accounts. The company was founded in 1837 and is headquartered in Moline, Illinois.

Deere выглядит качественным бизнесом, но текущая оценка уже заметно опережает фундаментальную динамику. По мультипликаторам картина дорогая: P/E выше медианы отрасли на 36.1%, P/S — на 162.2%, P/B — на 158.3%, а P/FCF тоже выше среднего, что ограничивает потенциал дальнейшего переоценивания. При этом по годам видно, что P/E и P/S в последние периоды в целом снижались от более высоких уровней, но на последней точке снова подросли, то есть запас безопасности не увеличился. Сильная сторона компании — ликвидность: quick ratio 1.96 и current ratio 2.21 выглядят комфортно и выше отрасли, что снижает краткосрочные риски. Также ROE 18.93% остаётся высоким, а маржа чистой прибыли 10.29% и операционная маржа 13.25% заметно лучше медианы, что подтверждает хорошую ценовую силу и эффективность бизнеса. Однако ROA 4.55% и ROI 7.02% ниже отраслевых ориентиров, а их траектория за 5 лет ухудшается, что говорит о снижении отдачи на активы и капитал. Долговая нагрузка остаётся существенной: debt/equity 1.59 выше медианы, long-term debt около 41.8 млрд долларов, и хотя долг постепенно сокращался, он всё ещё ограничивает гибкость оценки. Дивидендная доходность фактически отсутствует в TTM, а недавние квартальные значения были низкими и нестабильными, поэтому дивидендный фактор не поддерживает апсайд. По прибыли и операционному результату видна слабость последнего периода: net income, operating income, EBITDA и gross profit ниже более ранних уровней 2025 года, что указывает на давление на циклический спрос или маржу. Выручка также снизилась относительно пиковых кварталов, хотя баланс остаётся крупным и устойчивым по активам и собственному капиталу. В сумме это не история глубокой недооценки, а скорее качественный, но уже дорогой промышленный лидер с замедлением фундаментального импульса. Поэтому целевой прогноз стоит слегка снизить, сохранив умеренно позитивный взгляд на долгосрочное качество, но с более осторожной оценкой краткосрочного апсайда.

Deere & Company

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Слабый индекс, значительно вырос. Рынок не поддерживает быков.

Weak index, significantly up. The market does not support the bulls.

Средний индекс, значительно вырос. Увеличился приток средств в лонги.

Medium index, significantly up. The inflow of funds into longs has increased.

Качественный, но дорогой промышленный лидер: сильная ликвидность и маржа сочетаются с высоким P/E, слабее ROA/ROI и ослаблением прибыли.

Titan Machinery Inc. TITN reported a loss per share of 55 cents in the first-quarter fiscal 2027 (ended April 30, 2026), narrower than the Zacks Consensus Estimate of a loss of 60 cents. The company reported a loss of 58 cents in the year-ago quarter.
Revenues of $522.4 million beat the consensus mark of $493 million by 5.91% but declined 12.1% year over year. The quarter benefited from stronger equipment margins tied to continued reductions in aged inventory, even as retail demand stayed soft.
Titan Machinery Inc. Price, Consensus and EPS Surprise
Titan Machinery posted equipment revenues of $364.7 million, down 16.5% from the year-ago quarter, reflecting weaker equipment demand across much of its footprint. Even so, the top line cleared expectations, supported by steadier performance outside equipment.
Parts revenues were $103.8 million, slipping 1.8% year over year, while service revenues of $43.8 million edged down 0.6%. Rental and other revenues rose 30% year over year to $10.2 million, providing a small but helpful offset to the equipment decline.
Titan Machinery's Margins Improve on Aged Inventory
TITN’s total cost of revenues declined 14% year over year to $433 million. Gross profit edged down 1.8% to $89 million, but the gross margin expanded to 17.1% from 15.3% in the year-ago quarter.
Operating expenses decreased 2.1% to $94.4 million from the prior-year quarter. Adjusted EBITDA was $1 million compared with $2.6 million a year earlier.
Q1 Segmental Performance of TITN
Titan Machinery’s Agriculture segment generated revenues of $344.2 million in the first quarter of fiscal 2027, down from $384.4 million a year ago, reflecting a same-store sales decline of 8.2% on softer equipment demand. The segment’s loss before taxes came in at $6.2 million compared with a loss before taxes of $12.8 million in the year-ago quarter.
Construction revenues were $67.5 million, down from $72.1 million in the prior-year quarter, reflecting a same-store sales decrease of 6.5% that was primarily tied to lower equipment sales. The segment’s loss before taxes narrowed to $0.6 million from a loss before taxes of $4.2 million a year ago.
Europe revenues were $60.4 million compared with $93.9 million in the year-ago quarter, including a $4.2-million benefit from foreign currency fluctuations. Excluding the currency benefit, revenues declined $37.7 million, or 40.2%, and the segment posted a loss before taxes of $0.9 million against income of $4.7 million a year ago.
The Australia segment reported revenues of $50 million compared with $44 million in the prior-year quarter. It incurred a loss before taxes of $1.8 million in the first quarter of fiscal 2027 compared with the prior year’s loss of $0.6 million.
Titan Machinery’s Cash Flow & Balance Sheet as of Q1 End
TITN’s net cash used for operating activities was $23.1 million for the first three months of fiscal 2027 compared with net cash provided by operating activities of $6.2 million in the year-ago period. Titan Machinery ended the quarter with cash of $29.6 million. Long-term debt (net of current maturities) was $150.5 million as of April 30, 2026, compared with $158.6 million as of Jan. 31, 2026.
TITN Reaffirms FY27 Modeling Assumptions
Titan Machinery reaffirmed its fiscal 2027 modeling assumptions, continuing to frame the year as one of demand softness and execution on inventory optimization. The company expects the Agriculture segment’s revenues to fall 15-20%, Construction is to be flat to up 5%, Europe will likely move down 20-25% and Australia is anticipated to grow 10-15%.
On profitability, Titan Machinery maintained its outlook for adjusted EBITDA of $17-$29 million and an adjusted diluted loss per share of $1.25-$1.75, which includes the full-year impacts of winding down its German business.
Titan Machinery Stock's Price Performance
In the past year, shares of the company have gained 5.9% against the industry’s decline of 2.1%.
Image Source: Zacks Investment Research
TITN’s Zacks Rank
Titan Machinery currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Performances
Deere & Company DE reported second-quarter fiscal 2026 (ended May 3, 2026) earnings of $6.55 per share, beating the Zacks Consensus Estimate of $5.81. However, the bottom line fell 1.4% from the prior-year quarter.
Net sales from Deere’s equipment operations were $11.78 billion in second-quarter fiscal 2026, up 5.4% from the year-ago quarter’s $11.17 billion, reflecting solid execution in Small Ag & Turf and Construction & Forestry. The top line beat the Zacks Consensus Estimate of $11.44 billion.
AGCO Corp. AGCO reported an adjusted EPS of 94 cents in first-quarter 2026 compared with the prior-year quarter’s 41 cents. The reported figure topped the Zacks Consensus Estimate of 44 cents.
AGCO revenues increased 14.2% year over year to $2.34 billion in the March-end quarter. The top line beat the Zacks Consensus Estimate of $2.30 billion.
CNH Industrial N.V. CNH registered first-quarter 2026 earnings of a penny per share, down 90% year over year. The reported number was in line with the Zacks Consensus Estimate.
CNH Industrial’s revenues were $3.83 billion, down 0.1% from the year-ago quarter. The top line beat the consensus estimate of $3.78 billion by 1.11%, aided by favorable currency impacts and pricing actions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Titan Machinery Q1 Earnings Beat Estimates on Better Equipment Margins

Investors in Deere & Co. (Symbol: DE) saw new options become available today, for the June 2027 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 374 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DE options chain for the new June 2027 contracts and identified one put and one call contract of particular interest.
The put contract at the $580.00 strike price has a current bid of $61.00. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $580.00, but will also collect the premium, putting the cost basis of the shares at $519.00 (before broker commissions). To an investor already interested in purchasing shares of DE, that could represent an attractive alternative to paying $587.04/share today.
Because the $580.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 61%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 10.52% return on the cash commitment, or 10.26% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Deere & Co., and highlighting in green where the $580.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $620.00 strike price has a current bid of $70.00. If an investor was to purchase shares of DE stock at the current price level of $587.04/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $620.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 17.54% if the stock gets called away at the June 2027 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if DE shares really soar, which is why looking at the trailing twelve month trading history for Deere & Co., as well as studying the business fundamentals becomes important. Below is a chart showing DE's trailing twelve month trading history, with the $620.00 strike highlighted in red:
Considering the fact that the $620.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 47%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 11.92% boost of extra return to the investor, or 11.64% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 33%, while the implied volatility in the call contract example is 35%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $587.04) to be 30%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Further DE Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

June 2027 Options Now Available For Deere (DE)

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Dimensional U.S. Equity Market ETF (Symbol: DFUS) where we have detected an approximate $263.4 million dollar outflow -- that's a 1.3% decrease week over week (from 253,200,000 to 250,000,000). Among the largest underlying components of DFUS, in trading today CrowdStrike Holdings Inc (Symbol: CRWD) is down about 9%, Deere & Co. (Symbol: DE) is up about 2.6%, and Altria Group Inc (Symbol: MO) is higher by about 1.1%. For a complete list of holdings, visit the DFUS Holdings page » The chart below shows the one year price performance of DFUS, versus its 200 day moving average:
Looking at the chart above, DFUS's low point in its 52 week range is $64.12 per share, with $82.965 as the 52 week high point — that compares with a last trade of $82.32. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further DFUS Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

DFUS, CRWD, DE, MO: Large Outflows Detected at ETF

The S&P 500 Index ($SPX) (SPY) on Tuesday closed up +0.13%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.45%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.48%. June E-mini S&P futures (ESM26) rose +0.14%, and June E-mini Nasdaq futures (NQM26) rose +0.48%.
Stock indexes recovered from early losses on Tuesday and settled higher, with the S&P 500, the Dow Jones industrials, and the Nasdaq 100 posting new all-time highs. Ramped-up AI spending continues to support technology stocks. Marvell Technology soared by more than 32% after Nvidia CEO Huang predicted the company would be the next to hit a $1 trillion valuation, more than five times its current market capitalization. Also, Hewlett Packard Enterprise surged by more than 19% after giving an outlook for annual sales that topped estimates, citing massive growth in AI-fueled demand for its servers and networking. Also, signs of strength in the US labor market pushed stocks higher on Tuesday after Apr JOLTS job openings unexpectedly rose to a 23-month high.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks initially moved lower on Tuesday amid uncertainty about when a US-Iran ceasefire could be reached and about when the Strait of Hormuz could reopen. Oil prices rose sharply when the AFP reported that Hezbollah would not accept a “partial ceasefire” with Israel. Iran threatened to abandon negotiations with the US on Monday over Israel’s escalation of its attacks in Lebanon. President Trump late Monday reportedly called Israeli President Netanyahu “crazy” and said he put the brakes on Israel’s plan to strike Beirut. Axios reported that Israel no longer plans to strike Hezbollah targets in Beirut. Iran has insisted on a ceasefire in Lebanon as part of any ceasefire agreement with the US.
The weakness in software stocks on Tuesday weighed on the broader market. Also, Tuesday’s -6% plunge in Bitcoin to a 2-month low undercut cryptocurrency-exposed stocks.
US Apr JOLTS job openings unexpectedly rose +731,000 to a 23-month high of 7.618 million, stronger than expectations of a decline to 6.866 million.
Hawkish comments on Tuesday from Cleveland Fed President Beth Hammack were negative for stocks and bonds, as she said the Fed's benchmark rate "may not be restrictive" and that "if recent data trends continue, it may soon be appropriate for policy to act to address the growing risk of persistently elevated inflation."
The markets are discounting a 2% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
The generally favorable Q1 earnings season is winding down. As of Tuesday, 84% of the 485 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled mixed on Tuesday. The Euro Stoxx 50 closed up +1.21%. China's Shanghai Composite recovered from a 1.5-month low and closed up +0.43%. Japan's Nikkei Stock Average closed down -0.30%.
Interest Rates
September 10-year T-notes (ZNU6) on Tuesday closed up +3 ticks, and the 10-year T-note yield was unchanged at 4.453%. T-note prices gave up most of an early advance on Tuesday after WTI crude oil recovered from early losses and rose more than +1%, boosting inflation expectations. T-notes also fell back after the Apr JOLTS job openings unexpectedly rose to a 23-month high, a hawkish factor for Fed policy. Also, hawkish comments from Cleveland Fed President Beth Hammack weighed on T-note prices when she said the Fed might have to raise interest rates if higher inflation persists.
European government bond yields moved lower on Tuesday. The 10-year German Bund yield fell -2.8 bp to 2.975%. The 10-year UK gilt yield fell -3.9 bp to 4.859%.
Eurozone May CPI rose +3.2% y/y, right on expectations, and the largest increase in more than 2.5 years. May core CPI rose +2.5% y/y, stronger than expectations of +2.4% y/y and the largest increase in 13 months.
Swaps are discounting a 99% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers rallied on Tuesday, providing support to the overall market. Applied Materials (AMAT) and ON Semiconductor (ON) closed up more than +6%, and Microchip Technology (MCHP) closed up more than +5% after saying its data center solutions unit generated $302.7 million in revenue in calendar year 2025, with about $500 million expected for this year. Also, Lam Research (LRCX), Qualcomm (QCOM), and KLA Corp (KLAC) closed up more than +5%, and ASML Holding NV (ASML), Analog Devices (ADI), Broadcom (AVGO), NXP Semiconductors NV (NXPI), and Texas Instruments (TXN) closed up more than +4%. In addition, Advanced Micro Devices (AMD) and Micron Technology (MU) closed up more than +3%.
Auto parts suppliers moved higher on Tuesday after Canadian Prime Minister Carney said a rule requiring at least 50% US content for vehicles in the North American trade zone is under discussion. Aptiv Plc (APTV) closed up more than +7%, and Dana Corp (DAN) closed up more than +5%. Also, BorgWarner (BWA) closed up more than +4%, and Autoliv (ALV) and Dauch Corporation (DCH) closed up more than +3%.
HVAC and farm equipment companies rallied on Tuesday after the Trump administration said it would cut tariffs on many products in those sectors starting on Jun 8. CNH Industrial NV (CNH) closed up more than +11%, and Deere & Co (DE) closed up more than +6%. Also, Caterpillar (CAT) closed up more than +5%, Lennox International (LII) closed up more than +3%, and Carrier Global (CARR) closed up more than +2%.
Intuit (INTU) closed down more than -8% to lead software stocks lower and lead losers in the S&P 500 and Nasdaq 100 after Goldman Sachs downgraded the stock to sell from neutral, with a price target of $276. Also, ServiceNow (NOW) closed down more than -6%, and Atlassian Corp (TEAM), Workday (WDAY), and Palantir Technologies (PLTR) closed down more than -5%. In addition, Salesforce (CRM), Microsoft (MSFT), Autodesk (ADSK), and Adobe Systems (ADBE) closed down more than -4%, Datadog (DDOG) closed down more than -2%, and Oracle (ORCL) closed down more than -1%.
Cryptocurrency-exposed stocks retreated on Tuesday, with Bitcoin (^BTCUSD) sinking more than -6% to a 2-month low. Strategy (MSTR) closed down more than -9% to lead losers in the Nasdaq 100, and Galaxy Digital Holdings (GLXY) closed down more than -5%. Also, Coinbase Global (COIN) closed down more than -4%, and MARA Holdings (MARA) and Riot Platforms (RIOT) closed down more than -3%.
Marvel Technology (MRVL) closed up more than +32% to lead gainers in the Nasdaq 100 after Nvidia CEO Huang predicted that the company will be the next to hit a $1 trillion valuation, more than five times its current market capitalization.
Hewlett-Packard Enterprise (HPE) closed up more than +19% to lead gainers in the S&P 500 after reporting Q2 adjusted EPS of 79 cents, well above the consensus of 54 cents, and raising its full-year adjusted EPS estimate to $3.35 to $3.45 from an earlier forecast of $2.30 to $2.50.
Cisco Systems (CSCO) closed up more than +5% to lead gainers in the Dow Jones Industrials after unveiling its Agentic Platform Cisco Cloud Control for operating and defending IT infrastructure.
Generac Holdings (GNRC) closed up more than +5% after signing a global agreement to supply backup power generators to a leading hyperscaler data center operator.
Praxis Precision Medicines (PRAX) closed down more than -22% after saying its vormatrigine drug did not meet its primary endpoint of percent change in monthly seizure frequency in the Phase 2/3 POWER1 study in adults with focal onset seizures compared to placebo.
Nubank Holdings (NU) closed down more than -8% after Bank of America Global Research downgraded the stock to underperform to neutral with a price target of $10.
Earnings Reports(6/3/2026)
Broadcom Inc (AVGO), CrowdStrike Holdings Inc (CRWD), Five Below Inc (FIVE), Macy's Inc (M), Medtronic PLC (MDT), Ollie's Bargain Outlet Holding (OLLI), PVH Corp (PVH), Thor Industries Inc (THO), Veeva Systems Inc (VEEV).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Indexes Post New Record Highs Amid AI Enthusiasm

Merck, known as MSD outside of the United States and Canada, announced today that the Board of Directors has declared a quarterly dividend of $0.85 per share of the company's common stock for the third quarter of 2026. Payment will be made on July 8, 2026, to shareholders of record at the close of business on June 15, 2026.
The Deere Board of Directors today declared a quarterly dividend of $1.62 per share payable August 10, 2026, to stockholders of record on June 30, 2026.
SM Energy today announced that its Board of Directors approved the quarterly cash dividend of $0.22 per share of common stock outstanding. The dividend will be paid on June 22, 2026, to stockholders of record as of the close of business on June 8, 2026.
Terex announced that its Board of Directors declared a quarterly dividend of $0.17 per share. The dividend is to be paid on June 22, 2026 to all stockholders of record as of the close of business on June 8, 2026.
Bank of Montreal today announced that its Board of Directors declared a quarterly dividend of $1.71 per share on paid-up common shares of Bank of Montreal for the third quarter of fiscal year 2026, a 4 cent, or 2 percent, increase from the prior quarter, up 5 percent from the prior year. The dividend on the common shares is payable on August 26, 2026, to shareholders of record on July 30, 2026.
VIDEO: Daily Dividend Report: MRK,DE,SM,TEX,BMO
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Daily Dividend Report: MRK,DE,SM,TEX,BMO

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Industrial Select Sector SPDR Fund (Symbol: XLI) where we have detected an approximate $437.9 million dollar outflow -- that's a 1.4% decrease week over week (from 175,926,000 to 173,376,000). Among the largest underlying components of XLI, in trading today Uber Technologies Inc (Symbol: UBER) is down about 1.9%, Deere & Co. (Symbol: DE) is down about 0.2%, and Honeywell International Inc (Symbol: HON) is up by about 3.1%. For a complete list of holdings, visit the XLI Holdings page » The chart below shows the one year price performance of XLI, versus its 200 day moving average:
Looking at the chart above, XLI's low point in its 52 week range is $140.84 per share, with $179.305 as the 52 week high point — that compares with a last trade of $174.34. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further XLI Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

XLI, UBER, DE, HON: ETF Outflow Alert

Key Points
Lockheed Martin and Deere & Company are two industrial stalwarts with proven track records of success.
War in the Middle East could add to Lockheed Martin's already healthy backlog.
Now is a good time to buy cyclical Deere & Co, while business is slow.
The stock market simply isn't going to go up all the time. Even during the best of times, the broader market will have an off week or month; you just never know. Volatility isn't fun for anyone, but it's how long-term investors can get a leg up on the market.
You see, when the tide goes out and the broader market declines, blue chip stocks, the best companies on Earth, often go down, too. That's a huge opportunity for investors because there may not be anything wrong with the business itself -- it's just the market doing what the market does.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
The recent pullback has created some solid buying opportunities. Here are two blue chip industrial stocks that currently look like two of the best buys you can make.
1. Lockheed Martin
The world's largest defense manufacturer, Lockheed Martin (NYSE: LMT), isn't a get-rich-quick stock, but it's a blue chip company in every sense of the term. History has shown that the world seldom remains peaceful for long. As unfortunate as that is, it creates a steady demand for the various weapons, vehicles, aircraft, and other technologies Lockheed Martin sells to the U.S. and its military allies.
The ongoing war in the Middle East has depleted arsenals, prompting the U.S. Department of Defense to sign a multi-year agreement to triple and quadruple production of various missiles. Lockheed Martin also produces the F-35 Lightning II fighter jet, the most expensive aircraft program in modern history, and a core revenue driver going forward as it continues to bring new aircraft into service and rack up maintenance and repair services.
While Lockheed Martin's backlog did shrink slightly from the prior quarter, it remains very healthy at $186 billion after the first quarter of 2026. The Trump Administration has made it clear that the government aims to continue spending heavily on defense over the next few years, so it wouldn't be a surprise to see the backlog grow again in the near future.
Analysts estimate the company will grow its earnings by an average of 18% annually over the next three to five years, which should translate to capital gains and healthy dividend increases. Lockheed Martin stock currently trades well below its 52-week high, which, in this case, has priced shares at an attractive valuation at under 18 times 2026 earnings estimates. Plus, investors get a solid 2.6% dividend yield at the current share price.
2. Deere & Co
Farming is the backbone of a growing global population. Deere & Co (NYSE: DE) is an industry titan known primarily for its famous John Deere machinery brand. Today, Deere designs and manufactures machines for farming, forestry, and construction. It also sells complementary products and services, such as software and aftermarket support. Its financial segment, which finances machinery purchases for customers, has also become a tremendous profit center.
Tractors and other machines are expensive purchases, so Deere's business fluctuates with farmers' financial health. Deere's business is in a somewhat in-between place right now. Forestry and construction have been relatively resilient, driven by commercial construction activity. However, the agricultural business has struggled as farmers grapple with lower commodity prices, higher input costs, and higher interest rates, which have reduced income and increased financing costs.
Deere's top and bottom lines are lower than during the agriculture boom a few years ago. This weakness has weighed on the stock as well. Yet, Deere trades at a price-to-earnings ratio of 29 times 2026 earnings estimates. That might seem high, but this often happens with cyclical stocks, where depressed earnings, the denominator in the P/E ratio, drive the stock's valuation higher.
Often, it's smart to buy cyclical companies during industry downturns, because their stocks tend to recover when business picks up again. There are still many growth opportunities in the artificial intelligence age, including increasingly autonomous and intelligent machinery that can help increase farm output with fewer people. Analysts see Deere growing earnings by an average of more than 15% annually over the next three to five years, making Deere a blue chip stock to buy on its current weakness.
Should you buy stock in Lockheed Martin right now?
Before you buy stock in Lockheed Martin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Lockheed Martin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $477,813!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,320,088!*
Now, it’s worth noting Stock Advisor’s total average return is 986% — a market-crushing outperformance compared to 208% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of May 26, 2026.
Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Deere & Company. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Best 2 Blue Chip Stocks to Buy After Last Week's Market Pullback

Key Points
The cyclical tide is finally turning back in farm machinery maker Deere & Company’s favor.
The stronger the economy and the greater the industrial activity, the more waste is produced.
Illinois Tool Works’ longer-term strategy is why it consistently outperforms the overall market.
After posting solid Q1 earnings reports, artificial intelligence (AI) stocks remain the market's must-have darlings.
There's something else happening, however, that too many investors are overlooking. That's a ramp-up of the nation's industrial activity. Seemingly against the odds, the Federal Reserve's measure of domestic industrial production hit a six-year high in April, while the Institute of Supply Management's manufacturing activity index remains in the positive territory it entered at the beginning of this year. Like it or not, the United States' factories are revving their engines, with at least some of the domestic output that had been lost of late rematerializing.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
This is likely only the beginning of a prolonged secular shift, though, giving American companies greater control over their production and leaving them less subject to geopolitical turmoil.
With that as the backdrop, here's a rundown of three industrial sector stocks you might want to step into sooner than later, before any more capital is invested in the business, spurring economic growth that workers/consumers currently feel may never be coming.
Deere & Company
It seems a little counterintuitive (at first). But, farms don't invest aggressively in their own output when times are hard, and profits are thin. They hunker down. The industry actually spends the most when commodity prices are high and profit margins are wide, in an effort to squeeze out as much profitability as possible while it's possible to do so.
And it's now very possible to do so. While operating costs like feed and fuel are high for farmers right now, just like they are for everybody else, the market prices of farm-food products continue to inch higher as well. Indeed, the USDA's Economic Research Service now predicts the country's farms' combined profits will be $153.4 billion in 2026, which will more or less be in line with 2025's figure, stabilizing above 2024's lousy figure following 2022's unsustainable peak in profitability. After years of postponed equipment replacements, this stability could mean the farm-machinery industry is ripe for a cyclical turnaround.
That's what Deere & Company's (NYSE: DE) -- formerly John Deere -- communications manager Christopher Seibert suggested during February's fiscal Q1 earnings conference call anyway, saying "the developments over the course of the past 3 months have strengthened our belief that 2026 marks the bottom of the current cycle as we project mid-single-digit net sales growth for the equipment operations this fiscal year." The stock has still underperformed since then, weighed down by disappointing results.
If you're waiting for a crystal clear sign that Deere's headwind is entirely in the rearview mirror, however, you're going to be giving up a lot of the early gains that take shape when investors start to sense a turnaround is already underway.
WM
It's a clichéd observation that the world never stops producing trash. That doesn't make it wrong, though. According to the EPA, in fact, every person living in the U.S. creates about 5 pounds of garbage every single day. If the economy cranks up and spurs consumer demand for more domestically made goods and services, don't be surprised to see that figure ramp up.
Enter WM (NYSE: WM), or as it used to be known, Waste Management. The company operates over 260 landfills across the United States (plus a few in the U.K.) in addition to more than 500 transfer facilities, over 100 recycling centers, and a handful of medical waste incinerators. The company did $25.2 billion worth of business last year, up 14%, turning $3.0 billion of that into net income.
It's not a sexy investment by any stretch of the imagination, particularly compared to nearly any AI stock. It's a fairly slow-moving company in a fairly slow-growing business. It's also, well, garbage. The simple industry's been around forever and hasn't exactly been improved by technological developments.
Don't dismiss the near- and long-term growth potential of America's waste-disposal industry, though. With the nation's and the world's population still growing, resulting in a growing amount of annual waste with a decreasing number of places to put it, the World Bank believes the global municipal waste management business is poised to grow from $250 billion now to $426 billion by 2050. WM is positioned to capture at least its fair share of this growth simply because the country and the planet are soon going to be relying on it and its peers to solve an underestimated problem that few people fully appreciate is brewing.
Illinois Tool Works
Last but not least, add Illinois Tool Works (NYSE: ITW) to your list of industrial stocks to buy before corporations start making bigger, must-have investments in capacity driven by an unexpected swell in demand.
Contrary to a common assumption, Illinois Tool Works actually makes very few hand tools. Automobile parts, restaurant dishwashing equipment, plastic packaging solutions, electronics testing machines, and a range of glues, coatings, and lubricants are all in its well-diversified wheelhouse. It's so diversified, in fact, that it's seemingly complex to the point of being difficult to manage.
The company's been smart about sidestepping this potential problem, though, by proactively letting each of these arms manage their own affairs and operate largely independently of one another. The chief reason ITW has outperformed the S&P 500 in the long run, though, is that it's focused on making smart, bigger-picture decisions even if that means short-term disappointment.
And it's still doing it. While most other companies spent a great deal of time talking about the year ahead during their most recent quarterly earnings conference calls, Illinois Tool Works was telling investors about its plans to evolve its business through 2030, driven by a combination of innovation and reliable execution.
This long-term mindset hasn't prevented a near-term setback for the stock. Indeed, ITW shares are down 17% from their mid-February peak due to a combination of modest organic growth in Q4, rising costs, geopolitical tensions, and interest rate worries, just to name a few.
Curiously, though, analysts aren't deterred. They're still looking for the same steady single-digit revenue growth they've seen over the past several years to continue for the next several years, accompanied by even faster profit growth.
More importantly to interested investors, Illinois Tool Works' low-capital-cost product lineup positions it as one of the first beneficiaries of any uptick in industrial investments, or, for that matter, any rekindled, sustained growth in consumer spending.
Should you buy stock in Deere & Company right now?
Before you buy stock in Deere & Company, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Deere & Company wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $475,063!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,369,991!*
Now, it’s worth noting Stock Advisor’s total average return is 994% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of May 22, 2026.
James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Deere & Company. The Motley Fool recommends Illinois Tool Works and WM. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Industrial Stocks to Buy Before the Next Wave of Spending Hits

Deere & Company DE used its second-quarter call to argue that portfolio balance, not a turn in large agriculture, is carrying the year. Management kept full-year net income guidance intact even as Brazil weakened and tariffs remained a material drag.
That steadiness mattered because the call centered less on the quarter’s headline beat and more on what executives said about demand, pricing, inventories and the path into 2027.
DE Keeps Net Income Guide Intact
DE reported second-quarter net income of $1.773 billion, or $6.55 a share, on net sales of $11.78 billion. That topped the Zacks Consensus Estimate of $5.81 for earnings and $11.44 billion for revenues, producing surprise percentages of 12.74% and 2.98%, respectively.
Deere & Company Price, Consensus and EPS Surprise
Management did not frame the quarter as a broad-based acceleration. Instead, executives emphasized that the company is operating through different cycle positions across its businesses, with large agriculture still under pressure, while Small Ag & Turf and Construction & Forestry supported the enterprise.
Director of Investor Relations Christopher Seibert said equipment operations margin reached 16.9%, while management kept fiscal 2026 net income guidance at $4.5 billion to $5.0 billion. That unchanged outlook was a central message throughout the call.
Deere Sees Different Cycles Across Units
CFO Brent Norwood said large agriculture is running below trough levels, Small Ag & Turf is moving toward mid-cycle and Construction & Forestry is slightly above mid-cycle. That framing helped explain why Deere kept stressing resilience rather than recovery.
Production & Precision Agriculture remained the weak point. Segment sales fell 14% to $4.503 billion and operating margin compressed to 15.7% from 22.0% a year ago, reflecting lower shipment volumes and higher production costs.
The offset came from the other segments. Small Ag & Turf posted 16% sales growth and a 20.6% operating margin, while Construction & Forestry delivered 29% sales growth and a 14.8% operating margin. Management repeatedly pointed to diversification as the reason the company can absorb ongoing agricultural softness.
DE Faces Same Tariff Burden After Refund
A major swing factor in the quarter was a $272 million recovery tied to IEEPA tariff refund claims accepted by U.S. Customs and Border Protection. Josh Beal, director of investor relations, said that lifted equipment margins by nearly 2.5 points in the quarter.
Even so, management said the full-year direct tariff exposure is effectively unchanged at about $1.2 billion, or roughly a 3% margin headwind. Net of the refund, the company now expects about $900 million of tariff costs for the year.
Norwood’s tone on pricing was disciplined rather than aggressive. He said DE is not using tariff surcharges and expects implied equipment price realization of 1.5% to 2% for the year, in line with general inflation excluding tariffs. The mitigation plan centers on sourcing changes, exemptions, compliance work and cost actions.
Deere Gets More Constructive on Demand
Deere raised its Construction & Forestry sales outlook to about 20% growth for fiscal 2026 and lifted that segment’s operating margin range to 10% to 12%. Norwood said order books in the United States and Canada are up more than 60% since November, with more than 80% of production slots filled.
Management tied that strength to infrastructure spending, rental fleet replacement, data center projects and roadbuilding demand. The company also said nearly all production slots for its new Deere-designed excavator are already spoken for.
Agriculture was more mixed. Seibert said the South American tractor and combine market is now expected to decline about 15%, versus the prior down 5% view, because Brazil is facing higher input costs, high interest rates and a stronger real. Outside South America, agriculture guides were largely unchanged.
DE Q&A Focuses on Inventory and 2027
Analyst questions repeatedly tested whether the company is truly at the bottom of the ag cycle. In response, management sounded measured but consistent, saying fiscal 2026 still represents the bottom and that some recovery is expected in 2027.
Beal backed that view with inventory data. North American new inventories for high-horsepower tractors and combines are down more than 50% from mid-2024 peaks, while used combine and used tractor inventories are down by the mid-teens from peak levels.
Questions from Jefferies, Morgan Stanley and Raymond James also pressed on pricing and farmer behavior. Management acknowledged pressure from fertilizer and other inputs, especially in Brazil, but said dealer feedback and improving used inventory conditions support the company’s baseline recovery view for next year.
Deere Leans on Tech and Discipline
Another theme was through-cycle investment. Management highlighted new 8R and 8RX tractor models, ExactShot and FurrowVision planting tools, and broader crop coverage for See & Spray as evidence that Deere is still investing heavily despite the ag downturn.
Executives also pointed to digital adoption. DE said engaged acres in Operations Center rose about 10% year over year, monthly active digital users reached nearly 440,000 and more than 12,500 JDLink Boost kits have been sold since the Starlink-based connectivity launch.
Capital allocation remained active as well. Norwood said the company returned $635 million to shareholders in the quarter through buybacks and dividends, while maintaining a posture centered on execution, investment and balance-sheet flexibility.
Zacks Rank and Style Signals
DE carries a Zacks Rank #3 (Hold) with a Value Score of D, Growth Score of D, Momentum Score of B and VGM Score of D. A Zacks Rank #3 points to a more neutral near-term earnings revision profile than the stronger #1 or #2 ranks. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Style Scores add a mixed overlay. Momentum stands out as the strongest factor, while the weaker Value, Growth and VGM scores imply a less favorable setup on those measures. Under the Zacks framework, stronger combinations usually come from stocks with a Zacks Rank #1 or #2 and Style Scores of A or B. The rank can also change as estimate revisions adjust after the latest results.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

DE Q2 Earnings Call Highlights Steady 2026 Outlook

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.17%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.55%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.20%. June E-mini S&P futures (ESM26) rose +0.18%, and June E-mini Nasdaq futures (NQM26) rose +0.20%.
Stock indexes recovered from early losses on Thursday and settled higher, with the Dow Jones Industrial Average posting a 3.25-month high. Hopes for a diplomatic resolution to the US-Iran war that would reopen the Strait of Hormuz sparked a reversal in crude oil prices, sending them sharply lower after rising sharply, which pushed stocks higher. The Dow Jones Industrials found support on the +12% jump in IBM following reports that the company is receiving a $1 billion grant from the US government to take a stake in its quantum-computing business.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks initially moved lower on Thursday on concerns that a prolonged closure of the Strait of Hormuz could worsen energy disruptions and fuel inflation. Crude prices jumped more than +2% early on Thursday after Reuters reported that Iran's Supreme Leader said enriched uranium must stay in Iran, as sending the material abroad would leave the country more vulnerable to future attacks by the US and Israel. The report tempers optimism that the US and Iran were moving closer to a deal to end the war. The markets are awaiting Iran’s official response to the latest US proposals to reopen the Strait.
Nvidia’s earnings results, released after Wednesday’s close, were better-than-expected, although some analysts questioned the sustainability of growth, especially amid higher competition. Nvidia closed down more than -1%.
Stock indexes found support on Thursday’s economic news, which showed signs of stability in the labor market and strength in manufacturing and housing activity. On the negative side, the May Philadelphia Fed business outlook survey fell more than expected to a 5-month low.
US weekly initial unemployment claims fell -3,000 to 209,000, close to expectations of 210,000.
US Apr housing starts fell -2.8% m/m to 1.465 million, a smaller decline than expectations of 1.410 million. Apr building permits, a proxy for future construction, rose +5.8% m/m to 1.442 million, stronger than expectations of 1.384 million.
The US May Philadelphia Fed business outlook survey fell -27.1 to a 5-month low of -0.4, weaker than expectations of 17.8.
The US May S&P manufacturing PMI unexpectedly rose +0.8 to 55.3, stronger than expectations of a decline to 53.8 and the strongest pace of expansion in 4 years.
Chicago Fed President Austan Goolsbee said the employment side of the Fed's dual mandate is "mostly stable," but "right now we have a pretty significant inflation problem developing."
WTI crude oil prices (CLM26) remain extremely volatile and are susceptible to headlines from the Iran war. Prices fell more than -1% on Thursday after initially rallying more than +2%. Crude prices retreated after Iran said the latest US proposal has "narrowed the gaps" between the two sides. That proposal suggested a short-term deal that would see Iran open the Strait of Hormuz and the US lift a blockade of Iranian ports, with both sides then going into deeper negotiations over Iran's nuclear program. Also, Secretary of State Rubio noted “some good signs” that a deal could be reached. Late Monday, President Trump said he called off a strike on Iran scheduled for Tuesday after Gulf allies asked for more time to give diplomacy a chance.
Last Wednesday, the International Energy Agency (IEA) said in a monthly report that global oil inventories declined at a rate of about 4 million bpd in March and April, and the market will remain “severely undersupplied” until October even if the conflict ends next month. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 1% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings season is winding down, and reports thus far have been supportive of stocks. As of Thursday, 83% of the 470 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 fell from a 2-week high and closed down -0.26%. China's Shanghai Composite fell to a 3-week low and closed down -2.04%. Japan's Nikkei Stock Average closed up sharply by +3.14%.
Interest Rates
June 10-year T-notes (ZNM6) on Thursday closed down -5.5 ticks. The 10-year T-note yield rose +0.8 bp to 4.576%. T-note prices were under pressure from Thursday’s stronger-than-expected US economic reports on housing starts, building permits, and manufacturing activity. Also, hawkish comments from Chicago Fed President Austan Goolsbee weighed on T-notes when he said he was worried about inflation.
T-notes recovered from their worst level after WTI crude oil erased an early rally and fell sharply, which lowered inflation expectations. The 10-year breakeven inflation rate fell to a 2-week low of 2.419% on Thursday. T-notes also garnered some support after the May Philadelphia Fed business outlook survey fell more than expected to a 5-month low.
European government bond yields are mixed today. The 10-year German Bund yield rose +0.2 bp to 3.098%. The 10-year UK gilt yield fell to a 1.5-week low of 4.940% and finished down -2.2 bp to 4.965%.
The Eurozone May S&P manufacturing PMI fell -0.8 to 51.4, weaker than expectations of 51.8. The Eurozone May S&P composite PMI fell -1.3 to 47.5, weaker than expectations of no change at 48.8 and the steepest pace of contraction in 2.5 years.
The Eurozone May consumer confidence index rose +1.6 to -19.0, stronger than expectations of no change at -20.6.
The European Commission forecast that 2026 Eurozone GDP will weaken to +0.9% from +1.4% in 2025, while 2026 Eurozone CPI will strengthen to +3.0% from +2.1% in 2025.
The UK May S&P manufacturing PMI was unchanged at 53.7, stronger than expectations of a decline to 53.0.
Swaps are discounting an 87% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
AI-infrastructure stocks rallied on Thursday. ARM Holdings Plc (ARM) closed up more than +16% to lead gainers in the Nasdaq 100, and Sandisk (SNDK) closed up more than +10%. Also, Seagate Technology Holdings Plc (STX) closed up more than +7%, and Western Digital (WDC) and Qualcomm (QCOM) closed up more than +5%. In addition, Micron Technology (MU) closed up more than +4%, Lam Research (LRCX) closed up more than +3%, and Marvell Technology (MRVL) closed up more than +2%.
Airline stocks and cruise line operators moved higher as WTI crude oil prices erased an early rally and fell more than -1%, lowering fuel costs and boosting profitability prospects. American Airlines Group (AAL) closed up more than +4%, and Alaska Air Group (ALK) and Norwegian Cruise Line Holdings (NCLH) closed up more than +3%. Also, Delta Air Lines (DAL), Southwest Airlines (LUV), and Norwegian Cruise Line Holdings (NCLH) closed up more than +2%. In addition, United Airlines Holdings (UAL) closed up more than +1%.
Chipmakers slid on Thursday, weighing on the broader market. Microchip Technology (MCHP), Analog Devices (ADI), and NXP Semiconductors NV (NXPI) closed down more than -3%, and Texas Instruments (TXN) closed down more than -2%. Also, Nvidia (NVDA) closed down more than -1%.
Rigetti Computing (RGTI) closed up more than +30% after signing a letter of intent with the US Department of Commerce for an award of up to $100 million in funding over three years to accelerate superconducting quantum computing research and development.
Applied Digital (APLD) closed up more than +21% after signing a 15-year lease valued at about $7.5 billion with a US investment-grade hyperscaler for its Polaris Forge 3 campus.
Nebius Group NV (NBIS) closed up more than +14% after partnering with Bloom Energy to deploy fuel-cell technology to power its AI-infrastructure build-out in the US.
Ralph Lauren (RL) closed up more than +13% to lead gainers in the S&P 500 after reporting Q4 net revenue of $2.0 billion, above the consensus of $1.85 billion.
International Business Machines (IBM) closed up more than +12% to lead gainers in the Dow Jones Industrials after the Wall Street Journal reported the company is receiving a $1 billion grant from the US government for a stake in its quantum-computing business.
EnerSys (ENS) closed up more than +11% after reporting Q4 net sales of $988 million, better than the consensus of $974 million.
Elf Beauty (ELF) closed up more than +5% after reporting Q4 net sales of $449.3 million, stronger than the consensus of $423.1 million.
Intuit (INTU) closed down more than -20% to lead losers in the S&P 500 and Nasdaq 100 after reporting Q3 product and other revenue of $799 million, well below the consensus of $920.5 million.
Walmart (WMT) closed down more than -7% to lead losers in the Dow Jones Industrials after forecasting Q2 adjusted EPS of 72 cents to 74 cents, weaker than the consensus of 75 cents.
Deere & Co (DE) closed down more than -4% after forecasting full-year net income of $4.5 billion to $5.0 billion, the midpoint below the consensus of $4.79 billion.
Kroger (KR) closed down more than -2% after CEO Foran said the company is considering significant price cuts to win back market share.
Earnings Reports(5/22/2026)
BJ's Wholesale Club Holdings Inc (BJ), Booz Allen Hamilton Holding Co (BAH), BRT Apartments Corp (BRT), Edgewise Therapeutics Inc (EWTX), ePlus Inc (PLUS), Hub Group Inc (HUBG), Nano-X Imaging Ltd (NNOX), Replimune Group Inc (REPL), XCF Global Inc (SAFX).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Periodand min./max. price, $	Price change, %		Volatility, %		Volume, $
Periodand min./max. price, $	DE	Industry	DE	Industry	Volume, $
Yesterday 573.7 - 589.2	-11.07	5.33	0.78	1.63	360.47M
Week 572.3 - 593.8	-12.09	8.99	3.32	3.44	1.77B
Month 552.9 - 619.2	-17.21	15.71	5.72	7.86	8.82B
3 Months 549.7 - 674.2	-16.46	10.67	12.81	19.21	36.04B
6 Months 455.9 - 674.2	6.89	18.16	17.02	28.72	67.59B
Year 433.0 - 674.2	0.84	59.74	29.97	44.13	112.68B
3 years 340.2 - 674.2	36.12	52.82	47.29	67.71	255.55B
5 years 283.8 - 674.2	33.06	87.68	65.70	93.82	423.60B
All time 14.2 - 450.0	1,140.85	186.28	—	—	355.91B

Deere & Company

Price and volatility history

Risk ratios