Walt Disney, JM Smucker, McDonald’s, and More

U.S. equities were mostly edging higher at midday as the market continued to wait for updates on U.S.-China trade talks. The S&P 500 and Nasdaq were up slightly, and the Dow Jones Industrial Average was near flat.

Energy-related companies, including Halliburton (HAL), APA (APA), and Chevron (CVX), advanced along with the price of oil on optimism the trade talks will be successful.

Shares of Walt Disney (DIS) climbed when the entertainment giant paid Comcast (CMCSA) $438.7 million to take full control of the Hulu streaming service. Comcast shares rose as well.

Casey’s General Stores (CASY) shares soared to a record high when the convenience store operator beat profit and sales estimates and boosted its dividend on strong in-store and fuel sales.

J.M. Smucker (SJM) was the worst-performing stock in the S&P 500 after the jelly and snack food maker missed sales forecasts and gave weak guidance as it dealt with “a dynamic and evolving external environment.”

Shares of United Natural Foods (UNFI) continued their decline from yesterday following its announcement that a cyberattack disrupted operations. The food distributor said it was withholding updated earnings per share and sales guidance as it determines what impact the hack might have.

McDonald’s (MCD) shares dropped on a double downgrade from Redburn Atlantic, which pointed to falling foot traffic and the potential effect of soaring weight-loss drug demand on its sales.

Gold futures fell. The yield on the 10-year Treasury note was little changed. The U.S. dollar gained on the pound and yen, and was little changed against the euro. Prices were up for most major cryptocurrencies.