Top S&P 500 Movers on Friday
February 07, 2025 04:53 PM EST
Decliners:
- Ulta Beauty (ULTA) shares dropped 6.7% after fellow cosmetics and skin care provider e.l.f. Beauty (ELF) reported lower-than-expected quarterly profits and reduced its full-year guidance. E.L.F. shares tumbled 19.6%, and the CEO of the California-based company pointed to negative impacts in January from the Los Angeles wildfires and the uncertain outlook for TikTok.
- Higher-than-expected wage growth in the January jobs report and worsening consumer sentiment on inflation contributed to an uptick in Treasury yields, and concerns about higher mortgage rates pressured homebuilder stocks. D.R. Horton (DHI) shares fell 5.0%, while shares of other residential construction companies also lost ground. Speculation about the impact of possible tariffs, especially on lumber imported from Canada, has also weighed on the industry.
- Although solar technology company Enphase Energy (ENPH) beat quarterly sales and profit estimates in results released Tuesday, several research firms trimmed their price targets on the stock following the report. Bank of America analysts said an uncertain outlook for overall demand contributed to their scaled-back expectations. Enphase shares lost 4.5% on Friday.
Advancers:
- Expedia Group (EXPE) shares jetted 17.3% higher after a jump in holiday bookings helped the online travel platform beat fourth-quarter sales and profit estimates. Gross bookings and nights booked also came in ahead of consensus forecasts, and Expedia reinstated its quarterly dividend, which it suspended during the COVID-19 pandemic in 2020.
- Take-Two Interactive Software (TTWO) reported a narrower-than-expected quarterly loss, and shares of the video game maker surged 14.0%. The company cited strength from its “NBA 2K” title and affirmed plans for a fall 2025 launch of “Grand Theft Auto VI.” JPMorgan analysts praised Take-Two’s resilient performance despite industry challenges, and the company forecasted record net bookings levels in fiscal 2026 and 2027.
- Monolithic Power Systems (MPWR) topped quarterly sales and profit forecasts, and its shares gained 9.0%. The power management chipmaker highlighted strong sales growth in its enterprise data and automotive businesses, driven by demand for artificial intelligence (AI) and advanced driver assistance systems. Monolithic’s sales forecast for the current quarter also exceeded estimates, and KeyBanc analysts lifted their price target on the stock.
- Billionaire investor Bill Ackman said his fund Pershing Square Capital Management has accumulated a stake worth over $2 billion in Uber Technologies (UBER), and shares of the ridesharing giant added 6.6%. Friday’s gains marked a bounce back from losses earlier in the week after Uber issued guidance for underwhelming gross bookings for the current quarter.
Supermicro Stock Extends Gains Ahead of Tuesday’s Earnings
February 07, 2025 03:47 PM EST
Super Micro Computer (SMCI) shares surged Friday, extending gains ahead of the company’s second-quarter update expected after markets close Tuesday.
Shares of the server maker and Nvidia (NVDA) partner were up more than 5% to $35.74 late in the session Friday, making it one of the best-performing stocks in the S&P 500. With Friday’s gains, the stock is up about 31% since the update was announced Monday, raising hopes the firm will be able to submit its delayed filings and preserve its public listing.
Supermicro also said Wednesday it is ramping to “full production availability” of its artificial intelligence data center solutions platform, which is “accelerated by the NVIDIA Blackwell platform.
Still, Supermicro shares have lost more than half their value over the past 12 months amid concerns about the company’s accounting practices and delinquent regulatory disclosures. The server maker now has until Feb. 25 to submit its delayed annual report from its fiscal year ended last June, or it could face delisting by the Nasdaq.
Supermicro formed an independent special committee, which said in December that its probe of the company, “did not raise any substantial concerns about the integrity of Supermicro’s senior management.”
Doximity Stock Soars as AI Boosts Results
February 07, 2025 02:57 PM EST
Shares of Doximity (DOCS) skyrocketed on Friday, a day after the telehealth software provider posted better-than-anticipated results and guidance as it added customers, boosted through the use of artificial intelligence (AI).
The company posted fiscal 2025 third-quarter adjusted earnings per share (EPS) of $0.45, while analysts surveyed by Visible Alpha expected $0.34. Revenue increased almost 25% year-over-year to $168.6 million, also above forecasts.
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