Bullish, Deere and dLocal: Thursday's Biggest Movers

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The broader equities market is trading lower at last check on Thursday as participants react to a hotter-than-expected reading on wholesale prices. But not all of the price action at the individual level is negative.

While Deere (DE) slumps post-earnings, Bullish (BLSH) is continuing its post-IPO climb and dLocal (DLO) is soaring after its Q2 beat.

Here's a closer look at some of Thursday's biggest market movers.

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Deere sinks after a guidance cut

Deere plunged more than 7% out of the gate Thursday after the farm equipment maker disclosed its fiscal third-quarter earnings.

While the company reported higher-than-expected earnings of $4.75 per share and revenue of $10.4 billion, management now expects net income for the full fiscal year to be $5 billion at the midpoint – down from a previous forecast of $5.15 billion.

"We attribute DE's narrowed full-year earnings guidance to ongoing tariff cost pressures and persistent weakness in agriculture fundamentals," says CFRA Research analyst Jonathan Sakraida.

Considering the industrial stock was up 22% on a total return basis (price change plus dividends) for the year to date through Wednesday's close, the analyst adds that "higher expectations were baked in heading into the quarter, contributing to heightened risk of underperformance," the analyst adds.

Sakraida believes "margin performance was a key factor in the revised outlook, as DE faced limitations in pushing pricing amid the continued agricultural market downturn."

He also points out that tariff uncertainty and lower commodity prices "have made farmers increasingly cautious in spending decisions and more hesitant to accept higher machinery prices."

Bullish stock keeps climbing after its IPO

The Bullish IPO underscored market excitement for new offerings. Indeed, shares of the Peter Thiel-backed crypto exchange and owner of crypto news site CoinDesk closed Wednesday at $68, up 84% from the offering price of $37 per share.

And BLSH stock is up another 22% at last check in Thursday's session, making it one of the day's biggest movers.

"From an operations perspective, what sets Bullish apart is its massive capital base, deep liquidity pool and data integration platform," says Greg Martin, managing director at Rainmaker Securities.

This, Martin adds, "enables sophisticated institutional investors to trade with finer granularity, leveraging substantial data analysis and the type of algorithmic and quantitative trading where larger dollars can be traded."

Martin doesn't see Bullish as a retail play; rather, he says that it is built for institutions.

"As crypto goes mainstream, and more institutional investors enter the arena, Bullish's capital roots, liquidity profile, and hybrid architecture provide a clear edge, offering the depth and sophistication that institutional investors require."

dLocal soars after Q2 earnings beat

Online payments firm dLocal is one of the biggest gainers Thursday, up more than 22% at last check after the company reported second-quarter earnings.

For the three months ending June 30, dLocal said total payment volume was up 53% year over year to a record $9.2 billion, while revenue surged 50% to $256 million.

Following its first-half performance and what CEO Pedro Arnt says is "sustained momentum" across the business, the company also raised its full-year guidance.

Truist Securities analyst Matt Coad maintained a Hold rating on the financial stock after earnings, but says upside risks include "outsized exposure as a pure play on emerging markets, better-than-expected growth in e-commerce payments, and potential M&A activity as takeout candidate."

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.