Host Hotels Resorts and Deere Moved Higher



Host Hotels Resorts

Host Hotels Resorts (HST), which is a real estate investment trust that owns up to 93 upscale hotels, was among the S&P 500’s top performers on April 12. After a strong performance on Wednesday, Host Hotels Resorts opened the day higher on Thursday and rallied to seven-week high price levels.

The buying pressure in Host Hotels Resorts increased on Thursday following a report about the company filing for a debt shelf. According to the Securities and Exchange Commission, Host Hotels Resorts filed for a debt shelf of up to $2 billion. A debt shelf offering is a process of offering new securities that are released to the public market gradually over a period of time. On April 12, Host Hotels Resorts gained 4.1% and closed the day at $19.23—the highest daily close since February 20. Host Hotels Resorts is part of the S&P Industrials Composite Index, which gained 0.75% on Thursday.

Deere & Company

Deere & Company (DE), which is an American corporation that manufactures agricultural, construction, forestry machinery, and diesel engines with the brand name “John Deere,” was among the S&P 500’s top gainers on April 12.

Deere & Company declined on Wednesday amid weaker-than-expected March sales. The sentiment weakened because the March sales fell below the industry average. Trade war concerns between the US and China, which could impact the demand for agricultural commodity equipment, also dented the market sentiment. Deere & Company regained strength on Thursday as trade war concerns toned down and boosted the industrials. Deere & Company gained 4.1% and closed the day at $150.26. Deere & Company is part of the S&P 500 Industrials sector, which gained 1.5%.

Next, we’ll discuss the S&P 500’s top losses on April 12.

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