Equinix Falls, McCormick Rises, Enphase Gains on Tax Credit News
On this episode of Stock Movers:
- Equinix (Ticker EQIX) shares fall as its long-term outlook disappointed investors. They plan to build out capacity through 2029, but higher interest expense from up-front debt issuance will counter short-term growth.
- McCormick (Ticker MKC) shares rise after the company's 2Q EPS topped estimates and management reaffirmed its profit and sales guidance. Barclays says the fact that the company reaffirmed its guidance despite an incremental impact from tariffs eases some recent concerns.
- Enphase (Ticker ENPH) shares rise after recent news that Senate Republicans are discussing changes to a provision in President Trump's that would end tax credits for rooftop solar panels.
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