Top Midday Stories: Stocks Fall on Hot July PPI Print; Deere Lowers Top-End Guidance for Full-Year Net Income

11:42 AM EDT, 08/14/2025 (MT Newswires) -- Major US stock indexes were down in late morning trading Thursday following a higher-than-expected producer price index print for July.

The PPI rose by 0.9% in July following a flat reading in June, well above the 0.2% gain expected in a survey compiled by Bloomberg as of 7:50 am ET and the largest monthly gain since June 2022. Excluding food and energy prices, core PPI was still up by 0.9%, the largest gain since March 2022 and well above the 0.2% increase expected.

Deere (DE) reported fiscal Q3 earnings Thursday of $4.75 per diluted share, down from $6.29 a year earlier but above the FactSet consensus analyst estimate of $4.71. Fiscal Q3 net sales were $10.36 billion, down from $11.39 billion a year ago but above the FactSet consensus of $10.35 billion. For fiscal 2025, the company expects net income in a range of $4.75 billion to $5.25 billion, compared to its previous guidance of $4.75 billion to $5.50 billion. Analysts expect $5.03 billion. Deere shares were down 8.3% around midday.

Walmart (WMT) has renegotiated its arrangement with Trade Desk (TTD) so that advertisers buying spots on the Web using Walmart (WMT) shopper data no longer have to exclusively use Trade Desk's (TTD) technology, The Information reported Thursday, citing a person familiar with the matter. Walmart (WMT) shares were down 0.1%, while those of Trade Desk (TTD) were down 6.6%. Shares of Trade Desk's (TTD) ad tech rival, Amazon.com (AMZN) , were up 1.8%.

Tapestry (TPR) reported fiscal Q4 non-GAAP earnings Thursday of $1.04 per diluted share, up from $0.92 a year earlier and above the FactSet consensus estimate of $1.02. Fiscal Q4 net sales were $1.72 billion, up from $1.59 billion a year ago and above the FactSet consensus of $1.68 billion. For fiscal 2026, the company said it expects non-GAAP diluted EPS of $5.30 to $5.45, including a "negative impact of incremental tariffs and duties" of over $0.60. Analysts expect $5.49. Tapestry's board increased its quarterly dividend to $0.40 per share from $0.35, payable on Sept. 22 to shareholders of record on Sept. 5. The company also said it expects to repurchase $800 million in common stock. Tapestry shares were down nearly 15%.

TeraWulf (WULF) said Thursday it has executed an 80-year ground lease with Cayuga Operating for about 183 acres at the Cayuga property in Lansing, New York, for the expansion of high-performance computing and AI data center hosting. TeraWulf (WULF) shares were up more than 42%.

Price: 471.97, Change: -41.58, Percent Change: -8.10

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