H&R Block and Madison Square Garden Entertainment Surge Amid Mixed Market Activity

At midday on Friday, major indexes including the Dow, S&P 500, and Nasdaq remained relatively stable, capping off a week of gains bolstered by strong retail sales and positive labor market data.

H&R Block saw a notable increase in its share price following the company’s announcement of better-than-expected fiscal fourth-quarter results. The tax preparation firm also unveiled a dividend increase and a $1.5 billion stock buyback program.

Madison Square Garden Entertainment hit a record high with its stock value after the company reported a surprising profit, driven by increased revenue from events and higher sales of food, beverages, and merchandise at sporting events.

Ulta Beauty continued its upward momentum from the previous day, buoyed by Berkshire Hathaway’s disclosure of a stake in the beauty retailer. Tapestry also saw gains following its strong performance in Europe.

On the downside, Amcor was the worst performer in the S&P 500, as the packaging company fell short of revenue expectations and issued weak guidance amid soft demand in healthcare and North American beverage sectors.

Pfizer and BioNTech shares declined after disappointing trial results for their combined COVID-19 and flu vaccine.

Gold futures reached a record high, while oil futures fell and the yield on the 10-year Treasury note dropped. The U.S. dollar weakened against the euro, pound, and yen, and most major cryptocurrencies traded in the red.