The S&P 500's Biggest Gains and Losses Today

Here are the S&P 500ꦺ stocks that gained and lost the most🎉 today.

Modest Gaﷺiꦓns Friday Can’t Push Dow Into the Green for the Week

Spurred by a rally in tech stocks after sharp declines earlier in the week, the 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average edged up 0.2%, or about 70 points. Two consecutive sessions of modest gains weren’t enough to pull the index into the green for the week, with the Dow finiꦍshing a holiday-shortened week down about 0.8%.

Amgen (AMGN) led the Dow higher, gaining about 2%. Walt Disney Co. (DIS) shares rose 1.3% to break a six-session losing streak as it sparred wit🌃h Charter Communications over broadcast fees.

Shares of Microsoft (MSFT) also moved up 1.3% after one of its executives said the software giant’s 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) business would reach 🎃$10 billion in revenue fa💜ster than any of its divisions ever have. 

Salesforce (CRM) climbed 1% and Apple (AAPL) shares gained 0.3% after plummeting two days in a row over co꧋ncerns about its business in China.

Goldman Sachs (GS) gained 1.1% after the investment bank said it would resume annual performance reviews for underperformers, which could 🌄result in 1% to 5% of employees being dismissed. 

Chevron (CVX) moved up 0.3% despite the start of 澳洲幸运5开奖号码历史查询:partial strikes at its Australian 澳洲幸运5开奖号码历史查询:liquefied natural gas (LNG) facilities. 

Boeing (BA) shares fell 2.2% after one of its top suppliers, Spirit AeroSystems (SPR), said inflation had ꦉmade its contract with the aircraft maker ‘not sustainable’ and has asked Boeing to absorb more of the costs. Shares of Spirit AeroSystems dipped 1.3%.

Verizon (VZ) shares dropped 1.1% and Dow Inc. (DOW) gave up 0.7%. Intel (INTC) shares dipped 0.5%, snapping its n🐬ine-ses❀sion winning streak.

-Terry Lane

China's Apple iPhone Ban Is Hurting These Stocks Too

Apple lost around $200 billion in market capitalization Wednesday and Thursday after reports China has 澳洲幸运5开奖号码历史查询:banned government officials from using iPhon📖es at work. Appꦿle shares are down about 6% for the week as of 3:30 p.m. ET.

But 澳洲幸运5开奖号码历史查询:its suppliers are hurting too. In Taiwan, Apple supplier Largan Precision, which makes smartphone camera lenses, saw its stock drop roughly 3.6% for the week. Chipmaker Taiwan Semiconductor (TSM) is a big cog in the Apple supply chain and its shares fell about 5% for t♈he same period while Chinese firm, Luxshare Precision Industry, which owns manufacturing plants, fell by 11%.

Domestic tech firms are also seeing their stock prices hurt with Qualcomm (QCOM) losing about 8% over the week.

China's ban could hasten Apple's ongoing efforts to diversify its supply chain. The company's closest partner, Foxconn, moved iPhone 14 production to a factory in India last year. While Foxconn still has a large presence in China, it has since 澳洲幸运5开奖号码历史查询:shifted more assembly ܫto 🌞neighboring Vietnam.

-Kevin George

RH Warns High Mortgaꩵge Rates Will༺ Crimp Luxury Home Market, Hurt Furniture Sales

RH (RH) shares sank more than 14% in midday trading after the high-end home furnishings retailer 澳洲幸运5开奖号码历史ဣ查询:posted lower-tha♓n-expected guidance as rising mortgag🤪e rates affect luxury✃ home sales.

RH on Thursday forecast current-quarter sales of $740 million to $760 million, a 14% decline from a year ago and short of analysts’ estimates. It sees fourth-quarter revenue of $760 million to $800 million, with a midpoint above forecasts, and it boosted the low end of its full-year out🌳look to $3.04 billion from the previous $3.0 billion.

In its fiscal 2023 seꦛcond quarter, RH reported a profit of $3.93 per 🦄share. Revenue tumbled 19% to $800.5 million. However, both were more than anticipated.

Shares of RH dropped to two-m🐭onth lows Friday but are still up 20% this year.

-Bill McColl

St🍸ellantis Offers Workers 14.5% Raise Over 4-Year Contract as Agreement Deadline Near👍s

Automaker Stellantis N.V. (STLA) offered most union employees a nearly 15% raise ﷽over the course of a 4-year contract in its first offer to the United Auto Workers (UAW). 

The company’s offer also included a one-time $6,000 “inflation protection payment” in the first year of the contract and another $4,500 in payments spread over the contract’s last three years.

Stellantis’s offer is slightly less generous than 澳洲幸运5开奖号码历史查询:that made yesterday by Generalꦕ 🐷Motors (GM), which recommended a 10% raise plus two 3% lump sum payments, as well as $11,000 in inflation-protection payments. GM and Ford (F) have also offered the union $5,500 ratification bonuses, a perk absent from Stellantis’s proposal.

The three carmakers have until Sept. 14 to reach an agreement with UAW and avert a strike that could 澳洲幸运5开奖号码历史查询:cost the econom♛y more than $5𓄧 billion.

Midday Market Movers

Guidewire Software Inc. (GWRE): The insurance software provider gained 11% after the company swung to a profit in its f⭕iscal fourth quarter and beat analysts' estimates on the top and bottom lines.𒈔

Valero Energy Corp. (VLO): Shares of the oil refiner🤪 rose 4%, making it the best-performing stock in the S&P 500, as oil prices recovered yesterday’s losses. Wells Fargo and Goldman Sachs also both raised their price targets for the stock this week. 

Eli Lilly & Co. (LLY): The drugmaker’s shares g💦💛ained 2% after the U.K.’s National Institute for Health and Care Excellence recommended its drug Mounjaro as a treatment for Type 2 diabetes in certain circumstances.

Rent the Runway Inc. (RENT): Shares of the apparel rental service fell 27% to an all-tim🌊e low of 99 cents after the company’s second-quarter sales fell short of Wall Street’s esti𒆙mates. 

Block Inc. (SQ): The fintech’s shares lost 5% after its payment ไnetworks suffered an outage starting Thursday afternoon and extending into Friday morning. 

DocuSign Beats Quarterly Estimates; Warns About Macroඣeconomic 🐟Pressures

DocuSign (DOCU) 澳洲幸运5开奖号码历史查询:posted better-than-expected results and raised its guidance, but shꦍares of the electronic signa💯ture company fell as it also warned of continuing economic challenges.

DocuSign reported second-quarter fiscal 2024 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of 72 cents, with revenue rising 11% to $687.7 million. Both beat analysts’ forecasts. Billings rose 10% to $711.2 million. Net cash from operating activities and 澳洲幸运5开奖号码历史查询:free cash flow both were higher than a year ago.

While DocuSign was pleased with the results, “like many others, we are seeing continued macro pressures tempering expansion rates,” Thygesen said on the company's earnings call.

Still, DocuSign increased its full-year sales outlook to between $2.73 billion and $2.74 billion, up from its earlier estimate of $2.71 billion to $2.73 billion. The company is also boosting its 澳洲幸运5开奖号码历史查询:share repurchase program🅠 by $300 million to a total of up to $500 m♉illion.

DocuSign﷽ shares lost almost 3% early Friday, and are lower for 2023.

-Bill McColl

Friday's Biggest Analyst Calls

Adobe Inc. (ADBE): Analysts at Mizuho upgraded the software maꦦker to buy and increased t🧸heir price target by $110 to $630, saying Adobe “remains very well positioned to benefit from digital transformation with its highly comprehensive end-to-end offering.”

Gilead Sciences Inc. (GILD): Bank of America Securities upgraded the pharmaceutical company to buy🎉 and raised its price target to $95 from $88. "We think Gilead's accelerating growth and expanding pipeline is underappreciated by investors,"𝓰 analysts wrote.

First Solar Inc. (FSLR): Deutsche Bank upgraded the solar energy company to buy and upped their pri🐼ce target by $15 to $235. Analysts said First Solar’s analyst day gave investors what they’ve been looking for, “a strong 3 year roadmap, with impro♔ving numbers and core margins.”

Summit Materials Inc. (SUM): Wolfe Research downgraded the construction materials company to h💎old from buy after it announced it would merge with the North American operations of Colombia-based Cementos Argos. 

Gas Prices Rise as Auܫstralian Workers Begin Strike

Workers at Chevron (CVX) 澳洲幸运5开奖号码历史查询:liquefied natural gas (LNG) sites in Australia 澳洲幸运5开奖号码历史查询:began partial strikes on Friday after talks between the company and workers broke down, potentially disrupting global supplies and sending gas prices higher.

Under current conditions of the partial strike, workers will not work for up to 11 hours per day until next Thursday, after which they wꦚill be on a complete strike until September 29 if their grie﷽vances remain unaddressed.

Australia is one of the world's top LNG exporters, and Chevron's Australian facilities are responsible for over 5% of global supply.

Natural gas futures rose more than 2% to $2.63 on Friday, while Chevro🙈n stock g♑ained 1%.

-Fatima Attarwala

Kroger & Alb🔯ertsons to Sell 400 Locations in Bid to Secure Merger Approval

Grocery chains Kroger (KR) and Albertsonꦆs () on Friday announced plans to sell 413 locations to C&S Wholesale Grocers as the two try to assuage regulators' concerns about their $25 billion merger.

C&S will pay $1.9 billion for the stores, located primarily in the West and Central U.S., and could purchase up to 237 more locations if the Federal Trade Commission (FTC) mandates further divestitures.

Kroger and Albertsons, the country’s two largest traditional supermarkets, 澳洲幸运5开奖号码历史查询:announced their plan to merge in Oc♛tober 2022 and🧸 expect the deal to close in early 2024. 

The Federal𒀰 Trade Commission is currently investigating the deal to determine whether it would harm small grocers. 

Shares of Albert🥀sons were up 2.8% early Friday. Kroger, which reported mixed quarterly earnings before markets opened and announced a $1.2 billion opioid s🎶ettlement, gained 5%.

Stocks Making the Biggest Moves Premarket

Gainers:

• First Solar Inc. (FSLR): Shares rose 3% after Deutsche Bank upgraded the solar panel producer to buy and lifted its price target to $235 from $220.
• Snowflake Inc. (SNOW): The cloud data warehousing company gained 2% after analysts at D.A. Davidson initiated coverage of the stock with a buy rating and a $200 price target, representing 25% upside from its closing price Thursday.
• 3D Systems Corp. (DDD): Shares of the 3D printing company gained 1% after saying its partnership with Align Technology (ALGN), maker of Invisalign tooth straighteners, would not be impacted by the latter’s acquisition of 3D printer Cubicure. 3D Systems stock fell more than 7% yesterday following the announcement of the acquisition.

Losers:

• Kroger Co. (KR): Shares of the grocery chain fell about 2% after its second-quarter sales fell short of estimates. It also said it would pay up to $1.2 billion to settle most opioid-related claims.
• GameStop Corp. (GME): The video game retailer’s stock dropped 3% after rising modestly yesterday on 澳洲幸运5开奖号码历史查询:a better-than-expected earnin𝓀gs report driven by a surge in digital sales. 
• ASML Holding NV. (ASML): The manufacturer of semiconductor equipment systems fell 1.5%, following semiconductor stocks like Broadcom (AVGO) and Qualcomm (QCOM), which plummeted yesterday on China’s efforts to curtail its use of foreign technology.

5 Things to Know Before Markets Open

Here's 澳洲幸运5开奖号码历史查询:what investors need to know to start their day:

1. Workers at Chevron (CVX) LNG projects in Australia went on strike after talks between the two broke down, potentially disrupting output from facilities that make up more than 5% of global supply.
2. Shares of luxury furniture retailer RH (RH), formerly known as Restoration Hardware, fell 7% premarket after it lowered its revenue projections for the third quarter to $740 million to $760 million, below the $778.6 million that analysts projected.
3. DocuSign (DOCU) shares were up 3% in pre-market trading after it reported adjusted quarterly earnings of $0.72 a share, topping the $0.44 a share it earned during the same period last year.
4. After a pause in terminations during the pandemic, 澳洲幸运5开奖号码历史查询:Goldman Sachs (GS) is reportedly set to commence employee reviews that could see underperformers dismissed as soon as next month.
5. Consumer credit levels are expected to drop in July to $16 billion, down from $17.9 billion from the prior month, when that data is released at 3 p.m. ET.

-Terry Lane

Stock Futures Fall for the Fourth Straight Day

Futures contracts connected to the Dow Jones Ind𝔍ustrial Average slipped 0.𓆉1% in premarket trading Friday.

S&P 500 futures were also off 0.1%.

Nasdaq 100 contracts lost 0.15%.