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

Here are the S&P 500 stocks that gained and lost the most to♍day.

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

Spurred by a rally in tech stocks after sharp declines earlier in the week, the 澳洲幸运5官方开奖结果体彩网: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 finishing 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 spa🦋rred with 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官方开奖结果体彩网:artificial intelligence (AI) business would reach $10 billion in revenue faster than any of its divisions ever have.𒐪 

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

Goldman Sachs (GS) gained 1.1% after the investment bank said it would resume annu⭕al performance reviews for underpe๊rformers, 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官方开奖结果体彩网:partial strikes at its Australian 澳洲幸运5官方开奖结果体彩网:liquefied natural gas (LNG) facilities. 

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

Verizon (VZ) shares dropped 1.1% and Dow Inc. (DOW) gave up 0.7%. Intel (INTC) shares dipped 0.5%, snapping ཧits nine-session 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官方开奖结果体彩网ဣ:banned government offi💙cials from using iPhones at work. Apple shares🔥 are down about 6% for the week as of 3:30 p.m. ET.

But 澳洲幸运5官方开奖结果体彩网: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 the 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官方开奖结果体彩网:shifted moreཧ assembly to neighboring Vietnam.

-Kevin George

RH Warns High Mortgage🐭 Rates Will Crimꦺp 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官方开奖结果体彩网:posted lower-t💙han-expected guidance as r🌠ising🧸 mortgage 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 outlook to $3.04 billion from the previous $3.0 billion.

In its fiscal 2023 second 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 droppe♔d to two-month lows Friday but are still up 20% this year.

-Bill McColl

Steꦇllantis Offers Workers 14.5% Raise Over 4-Year Contract as Agreement Deadline Nears

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官方开奖结果体彩网:that🍸 made yesterday by General 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官方开奖结果体彩网:cost t🧔he economy more than $5 billion.

Midday Market Movers

Guidewire Software Inc. (GWRE): The insurance software provider ga🌌ined 11% after the company swung to a profit in its fiscal fourth quarter and beat analysts' estimates on the top and bottom lines.

Valero Energy Corp. (VLO): Shares of the oil refi🌜ner 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 gained 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-time low of 99 cents after the company’s second-quarter sales fell short of Wall Street’s estimates. 

Block Inc. (SQ): The fintech’s shares lost 🔥5% after its payment networks suffered an outage starting Thursday afternoon and extending into Friday꧙ morning. 

DocജuSign Beats Quarterly Estimates; Warns About Macroeconomic Pressures

DocuSign (DOCU) 澳洲幸运5官方开奖结果体彩网:posted bette✨r-than-expected results and raised its guidance,꧅ but shares of the electronic signature company fell as it also warned of continuing economic cha🌺llenges.

DocuSign reported second-quarter fiscal 2024 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网: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官方开奖结果体彩网:share repurchase pღrogram by $300 million to a total of up to $500 million.

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 maker to buy 💯and increased their 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 groꦺwth and expanding pipeline is underappreciated by investors," analysts wrote.

First Solar Inc. (FSLR): Deutsche Bank upgraded the solar energy company to buy and upped their price 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 improving numbers and core margins.”

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

Gas Prices Rise a☂s Australian Workers Begin Strike

Workers at Chevron (CVX) 澳洲幸运5官方开奖结果体彩网:liquefied natural gas (LNG) sites in Australia 澳洲幸运5官方开奖结果体彩网: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 will be on a complete strike until Septembe𓆉r 29 if their grievances 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.

Nꦏatural gas futures rose more than 2% to $2.63 on Friday, while Chevron sto๊ck gained 1%.

-Fatima Attarwala

Kroger & Albertsons to Sell 400 Loca꧃tions in Bid to Secure Merger Approval

Grocery chains Kroger (KR) and Albertsons ()ಞ 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官方开奖结果体彩网:announced their plan to mer💎ge in Octꦫober 2022 and expect the deal to 𓆉close in early 2024.&nbs🍷p;

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

Shares of Albertsons were up 2.8% early Friday. Kroger, wh🌱ich reported mixed quarterly earnings before markets opened and announced a $1.2 billion opioid settlement, 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官方开奖结果体彩网:a better-than-exp𝓰ected earnings 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官方开奖结果体彩网: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官方开奖结果体彩网: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

Future𝐆s contracts connected to the Dow Jones Industrial Average slipped 0.1% in premarket trading Friday.

S&P 500 futures were also off 0.1%.

Nasdaq 100 contracts lost 0.15%.