Midday movers: Foot Locker, Deere&Co., Morgan Stanley and more

Investing.com -- Stocks gave up earlier gains and turned negative after reports talks over raising the debt ceiling were put on hold, killing optimism that a deal could get done this weekend. Here are the market movers for May 19.

• Foot Locker Inc (NYSE: FL) shares tumbled 26% after the athletic apparel retailer reported disappointing first-quarter results and cut its outlook for the full year, citing a challenging economic backdrop.


• Deere&Company (NYSE: DE) shares fell 2.3% despite beating expectations and raising its profit forecast for the year. After a strong quarter of tractor and precision agriculture machinery sales, the company continues to see a strong order book.


• Morgan Stanley (NYSE: MS) shares fell 2.3% after the investment banking and wealth management giant said James Gorman has indicated plans to step down as CEO in the next year.


• Applied Materials Inc (NASDAQ: AMAT) shares fell 2.3% after the maker of equipment for chip manufacturing reported quarterly sales rose 6%, more than expected, and its forecast for net sales and earnings per share in the current quarter are higher than expectations.


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  Farfetch Ltd (NYSE: FTCH) shares jumped 21% after the luxury fashion e-commerce company reported better-than-expected first-quarter earnings as gross merchandise value rose beyond forecasts.

  
  

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