Stock Market Update
15-Jul-26 11:05 ET
Pentair weighs down industrials sector
Dow +173.19
at 52681.46,
Nasdaq +46.43
at 26174.44,
S&P +12.94
at 7556.53
[BRIEFING.COM] The major averages remain little changed from previous levels.
The industrials sector (-0.2%) is modestly lower, weighed down by Pentair (PNR 63.19, -12.49, -16.50%) after the company sharply lowered its Q2 and FY26 guidance, citing a decline in Pool sales largely attributed to a more pronounced inventory realignment and worsening business conditions. Additionally, the company's CFO resigned after just four months in the role.
RBC Capital Markets downgraded the stock to Sector Perform from Outperform, with a target price of $74.
