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Wednesday Wrap-up
The Vanguard S&P 500 ETF closed at 594.40 Wednesday, up 0.2%.
Less Hate for Lilly
HSBC analyst Rajesh Kumar removed his reduce recommendation and upgraded S&P 500 component company Eli Lilly (NYSE: LLY) stock to hold with a $700 price target today.
“Orforglipron’s ATTAIN-2 Phase 3 trial in diabesity appears to offer a clear commercial path for filing and commercialisation,” opines the analyst.
Lilly stock is up 0.2% on the news — and so is the Voo.
Less Love for Lulu
BTIG analyst Janine Stichter lowered her price target on buy-rated Lululemon Athletica (Nasdaq: LULU) to $375 ahead of earnings on September 4. “While there is potential for the full-year to be revised downward on higher tariffs and sluggish US performance,” says Stichter, “we note many estimates are already below guidance.”
Lulu seems to be setting investors up for disappointment, but the stock is up almost 2% on Stichter’s still-high price target.
Norwegian Cruise Floats Higher
Tigress Financial Partners analyst Ivan Feinseth raised his price target on Norwegian Cruise Line Holdings (NYSE: NCLH) to $38 today, with a strong buy rating.
This article will be updated throughout the day, so check back often for more daily updates.
The Vanguard S&P 500 ETF (NYSEMKT: VOO) is up less than 0.1% as investors pause to consider whether Nvidia (Nasdaq: NVDA) might beat or miss earnings this evening.
In tariffs news, the second 25% tranche of President Trump’s threatened 50% (total) tariff on Indian exports to the U.S. goes into effect today. Levied initially to discourage India from buying Russian oil, the tariff briefly convinced some Indian refiners to pause oil purchases. But according to Bloomberg reports, these imports have resumed — and so the tariffs are on.
And now, on to earnings.
Earnings
S&P component company JM Smucker (NYSE: SJM) reported a fiscal Q1 2026 profit of $1.90 per share this morning, on $2.11 billion in revenue. Both earnings and revenue were exactly what Wall Street expected, but Smucker guided for weaker than expected full year fiscal 2026 earnings — and now it’s stock is down 7% premarket.
Fellow S&P component Williams-Sonoma (NYSE: WSM) reported a Q2 profit of $2, 22 cents better than analysts expected. Revenue of $1.84 billion edged past analyst expectations, and Williams-Sonoma guided higher citing “higher net revenue trends.”
Same store sales could rise 2% to 5% this year and total sales growth should be 0.5% to 3.5%. Williams-Sonoma stock is up nearly 3% in response.
Abercrombie & Fitch (NYSE: ANF) reported fiscal Q2 2026 earnings of $2.32, a nickel better than expected. Revenue was also better than expected at $1.2 billion, but guidance looks a bit weak at $10 to $10.50 for fiscal 2026.
Abercrombie stock is down 8% in consequence.
The post Stock Market Live August 27: S&P 500 (VOO) Flat As Investors Await Nvidia News appeared first on 24/7 Wall St..
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Author: Joel South
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