Stockists: Costco, Best Buy, HP Inc.

The stock market is trading at midday, heading for a modest winning week. The S&P 500 is flat, while the tech-heavy Nasdaq Composite is down 0.18%. The Dow Jones Industrial Average added 0.51%. The Russell 2000 index rose 0.8%.

Costco raised its membership fees effective Sept. 1, its first increase since 2017.

Bloomberg/Getty Images

S&P 500 Big Stocks Today

Five S&P 500 stocks making big midday moves are:

• Walgreens Boots Alliance (WBA) +7%
• Wynn Resorts (WYNN) +6.4%
• Las Vegas Sands (Lys) +5.1%
• Lululemon Athletica (LULU) +4.3%
• APA (USA) (WATER) +4.6%

The five worst-performing S&P 500 stocks with the biggest midday declines are:

• Life of the Globe (GL) -5.2%
• Universal health services (UHS) -3.5%
• Eli Lilly (LLY) -3.3%
• HP Inc (HPQ) -3.1%
• Dell Technologies (della) -3%

Also, stocks worth noting include:

• Nvidia (NVDA) -2.6%
• adze (TSLA) +2%
• Apple (AAPL) +0.4
• Costco (COST) -2%
• Best Buy (BBY) +2.1%

Costco trades lower after earnings miss

Costco lost 2 percent after the retailer reported a revenue loss for its fiscal fourth quarter.

The company earned $5.29 per share for the quarter ended Sept. 1, beating analysts’ estimates of $5.08 per share. Revenue of $79.7 billion was below the consensus forecast of $79.9 billion.

Related: Analysts Reset Costco Share Price Targets Ahead of Earnings

Same-store sales, a key measure of sales at existing stores that have been open for more than a year, rose 5.4 percent from a year ago, missing estimates of a 5.7 percent rise.

“We’ve seen inflation dissipate and our members start spending more on non-food,” Chief Financial Officer Gary Millerchip said during the company’s earnings call.

The company increased its membership fees effective Sept. 1, its first increase since 2017.

HP Inc. decreases after the demotion of a B of A analyst

Shares of HP Inc. were down 3% and were among the top five S&P 500 losers on Friday.

B of A analyst Wamsi Mohan downgraded the personal computer maker to neutral from buy, with an unchanged price target of $37.

Related: Hewlett Packard Enterprise Share Price Up 5% Today, Here’s Why

The analyst said the EPS growth would come solely from share buybacks, as the potential upside from PCs, including AI PCs, should be offset by lower print profit margins, given that the company “gained in plus in print,” according to a note pulled from the flight. com.

The analyst also suggests that HP will strive to conduct “material positive revisions to estimates.”

Best Buy earnings after analyst update

Best Buy climbed 2 percent after JP Morgan analyst Christopher Horvers added the stock to the company’s analyst focus list.

Horvers maintained an overweight rating on the stock and a $111 price target. The update came after a meeting with management, according to thefly.com.

More Wall Street analysts:

• Analysts revise price targets on Corning shares after meeting with investors
• Analysts restore price targets on Carnival shares ahead of earnings
• Analyst revises price target on Costco shares, rating ahead of earnings

Horvers expects replacement demand to increase, continued advances in computing and the opportunity for Best Buy’s key categories to perform well in a supportive retail-at-home environment.

The analyst also believes Best Buy is “in investor deadlock,” with replacement demand rising in 2025.

Related: The 10 Best Investing Books According to Our Stock Market Pros