Market Fluctuations: Costco and Steel Dynamics Rise, Lennar and Scholastic Fall
Costco's earnings beat expectations and declared a special dividend, while Lennar's profit margin forecast disappoints.
- Costco Wholesale Corp. shares rose after beating analysts' fiscal first-quarter earnings forecasts and declaring a special $15 dividend.
- Lennar Corp. shares fell as the homebuilder's forecast for a measure of profit margins fell short of analysts' forecasts.
- Steel Dynamics Inc. shares increased following an encouraging earnings forecast.
- Shares of Scholastic Corp. dropped after the company's fiscal second-quarter earnings fell short of analysts' forecasts.
- Palantir Technologies Inc. announced a one-year continuation of its Vantage contract with the U.S. army.