Post-Bell | Wall Street Ends Flat; UnitedHealth Soars 10% While Nucor, Lennar Rise 6% After Buffett's Invest; Bullish Jumps 10%

Wall Street's main indexes were mixed on Thursday with S&P 500 edging up to a closing high, while the Dow Jones and Nasdaq were flat, after a hotter-than-expected producer prices report dampened expectations of potential interest-rate cuts.

A Labor Department report showed producer prices increased the most in three years in July due to a surge in the costs of goods and services, suggesting a broad pickup in inflation was imminent.

Market Snapshot

The Dow Jones Industrial Average fell 11 points, or 0.02%, to 44,911.26, the S&P 500 rose 1.96 points, or 0.03%, to 6,468.54 and the Nasdaq Composite lost 2.47 points, or 0.01%, to 21,710.67.

Market Movers

Warren Buffett's Berkshire Hathaway disclosed on Thursday a new investment in UnitedHealth Group after the insurer became a target for many Americans upset over the direction of the nation's healthcare.

Berkshire also boosted its bet on home builders, revealing a new stake in DR Horton and significantly larger stake in Lennar. The filing also disclosed new Berkshire investments in security products provider Allegion, outdoor advertiser Lamar Advertising and steel maker Nucor.

Shares of UnitedHealth Group soared over 10% in after-hours trading while Lennar, Nucor up 6% around each.

Bullish, the crypto exchange and owner of CoinDesk, was up 9.8% after closing up 84% to $68 in itstrading debut Wednesday. The stock opened for trading at $90, 143% above its initial public offering price of $37. Bullish raised more than $1.1 billion through the sale of 30 million shares. The company’s market value at the close of trading Wednesday was about $10 billion.

TeraWulf surged 60% after Alphabet’s Google took a stake in the Bitcoin mining company as part of an artificial-intelligence hosting deal.

Miami International soared 34% on Thursday in itstrading debut. The stock’s first trade was $31 a share, 35% higher than its initial public offering price of $23. The fintech specializes in options, futures, and derivatives trading through its MIAX exchanges.

Coherent tumbled 20%, even after posting better-than-expected fiscal fourth-quarter adjusted profitof $1 a share late Wednesday. The optical networking company issued an outlook for first-quarter revenue of between $1.46 billion and $1.6 billion versus expectations of $1.5 billion, and called for adjusted earnings of 93 cents to $1.13 a share compared with forecasts of $1.02. Coherent said it had reached an agreement to sell its aerospace and defense business to private-equity group Advent for $400 million.

U.S.-listed shares of JD.com fell 2.9%. The Chinese online retailer topped Wall Street’s earnings and revenue expectations. CEO Sandy Xu said the company’s food delivery business had “made healthy progress during the quarter in metrics such as order volume growth, merchant base expansion, full-time rider recruitment, and more importantly, synergies with retail and other existing businesses of JD.”

Shares of dLocal surged 31%. The payments platform, which focuses on emerging markets, posted second-quarter adjusted earnings of 14 cents a share, beating Wall Street estimates of 13 cents. Revenue jumped 50% from a year earlier to $256.5 million, while total payment volume reached a record $9.2 billion, up 53% year over year.

Intuitive Machines declined 14% after the space technology services company announced the pricing of a $300 million offering of convertible senior notes, up from a previously announced offering of $250 million.

Cisco Systems reported fiscal fourth-quarter adjusted earnings of 99 cents a share, narrowly beating analysts’ estimates of 98 cents, as revenue rose 7.6% to $14.7 billion and exceeded forecasts of $14.62 billion. Cisco said artificial-intelligence infrastructure orders exceeded $800 million, bringing the fiscal 2025 total to more than $2 billion, well above Cisco’s original $1 billion target. The computer networking company said it expects fiscal first-quarter earnings of 97 cents to 99 cents a share on revenue of $14.65 billion to $14.85 billion. Analysts were expecting profit of 97 cents on revenue of $14.62 billion. Shares fell 1.6%.

Market News

Hedge Funds Add Microsoft, Netflix in Position Shuffle: 13F Wrap

Hedge funds added exposure to technology giants including Microsoft Corp. and Netflix Inc. in the second quarter, a stretch that saw an initial surge in volatility due to President Donald Trump’s trade policies but ultimately ended with major benchmarks posting significant gains.

Hedge fund holdings of Microsoft grew by $12 billion to $47 billion in the three months ending June 30, according to Bloomberg analysis of data from 13F filings, a result of both net buying and the company’s surging stock price.

In other notable changes, billionaire investors Warren Buffett and David Tepper scooped up shares of UnitedHealth Group Inc. as the conglomerate tumbled nearly 40% in the second quarter, the filings show. The value of hedge funds’ combined investment in China technology giant Alibaba Group Holding Ltd. dropped $1.55 billion, the biggest decrease by market value of any holding.