S&P 500 Slips, Oil Falls as Investors Watch Israel-Iran Conflict

The Biggest S&P 500 Movers on Friday

1 hr 26 min ago

Decliners:

Accenture (ACN) shares tumbled 6.9%, falling the furthest of any S&P 500 stock, after the professional services firm’s bookings for its fiscal third quarter fell shy of analysts’ expectations. Although sales and profits for the quarter topped forecasts, boosted by demand related to artificial intelligence (AI) services, Accenture’s CEO noted that companies are holding off on hiring consultants in response to the uncertain global economic backdrop.
Shares of Albemarle (ALB), the world’s largest lithium miner, dropped 4.6% after analysts at UBS reaffirmed their cautious stance on the lithium market. The firm pointed to ongoing oversupply and pricing pressure for the key battery component, suggesting that joint venture structures and strong balance sheets have contributed to making lithium producers slow to make supply adjustments in response to the weak pricing environment.
Steel Dynamics (STLD) shares slipped 3.2%, extending losses posted this week after the steelmaker issued lower-than-expected profit guidance for the current quarter. Friday’s downtick came after Keybanc analysts trimmed their price target on the stock, citing expected softness in galvanized steel spreads.

Advancers:

Kroger (KR) shares surged 9.8%, notching the top performance in the S&P 500 on Friday. The operator of the largest chain of traditional grocery stores in the U.S. posted better-than-expected profit and identical sales growth for its fiscal first quarter. While Kroger’s chief financial officer discussed ongoing macroeconomic uncertainty, the company boosted its full-year identical sales growth forecast and maintained its other guidance.
Shares of residential construction materials supplier Builders FirstSource (BLDR) jumped 7.5%. Although Wedbush analysts trimmed their price target on the stock, citing the potential for soft-oriented strand board pricing to weigh on Builders FirstSource’s second-quarter results, they maintained their “outperform” rating, suggesting that sales trends could be priced in at current levels following the stock’s year-to-date decline.
Used-car seller CarMax (KMX) topped quarterly profit estimates, and its shares rose 6.6%. Although sales came in slightly below expectations, total revenue was up 6% from the year-ago period, boosted by a 9% year-over-year gain in retail vehicle sales.

-Michael Bromberg

Mondelez Stock Gains as Wells Fargo Upgrades Rating, Raises Price Target

2 hr 51 min ago

Mondelez International (MDLZ) stock was one of the biggest gainers on the S&P 500 Friday after Wells Fargo upgraded its rating and lifted its price target on the snacks and candy giant.

Wells Fargo analysts lifted their rating to “overweight” from “equal weight” and raised their price target to $78 from $68, saying the “bull case feels more tangible” for the Chips Ahoy!, Oreo, and Sour Patch Kids parent.

“While the company is confronting historical inflation in 2025, 1) pricing execution has been strong, 2) inflation looks likely to temper in 2026, and we see a recovery of earnings ahead,” the analysts wrote.

Mondelez International shares rose 3% to $68.30 on Friday. They have gained roughly 15% this year.

-Aaron Rennie

Darden Restaurants Stock Hits All-Time High on Strong Olive Garden Sales

3 hr 29 min ago

Shares of Darden Restaurants (DRI) traded at an all-time high Friday as the restaurant chain operator beat earnings and revenue estimates and announced a new stock buyback as it got a boost from same-restaurant sales and growth in the number of locations.

The owner of chains including Olive Garden, LongHorn Steakhouse, and Ruth’s Chris Steak House posted fiscal 2025 fourth-quarter adjusted earnings per share (EPS) of $2.98, with revenue up 11% year-over-year to $3.27 billion. Both narrowly exceeded Visible Alpha forecasts.

Same-store sales climbed 4.6%, led by a 6.9% rise at Olive Garden and 6.7% gain at LongHorn Steakhouse. All were above expectations.

Darden added 25 net new restaurants in the quarter, plus it gained 103 Chuy’s Tex Mex locations after its purchase of the chain last July.

Revenue from Olive Garden increased more than 8% to $1.38 billion. It was 9% higher to $833.8 million at LongHorn Steakhouse, and grew more than 2% to $334.6 million at what it calls “Fine Dining” chains, which includes Ruth’s Chris. Thanks to the Chuy’s contribution, “Other Business” revenue jumped 22% to $722.3 million. 

Along with the financial report, Darden said the board authorized a new share repurchase program of up to $1.0 billion. 

Including a 2% rise to about $227 in recent trading Friday, Darden Restaurant shares have gained more than 20% so far this year. They hit a record $228.27 earlier in the session.

-Bill McColl

Why Wedbush Says Tesla’s Market Cap Could Be Headed for $2 Trillion

4 hr 19 min ago

Tesla’s (TSLA) market capitalization, currently hovering just over $1 trillion, could start down the road to doubling in value by the end of 2026 if its robotaxi launch goes well this weekend, Wedbush analysts led by Dan Ives wrote Friday.

Keeping their “outperform” rating and Street-high $500 price target, Ives and his colleagues wrote Friday that they “believe the march to a $2 trillion valuation for TSLA over the next 12 to 18 months has now begun in our view with [Full Self-Driving] and autonomous penetration of Tesla’s installed base and the acceleration of Cybercab in the US representing the golden goose.”

Tesla CEO Elon Musk said last week that the company was tentatively targeting a June 22 launch for its robotaxi program in Austin, Texas. The analysts said invites have been sent out “giving selected Tesla users permission to use the Model Y Robotaxi service starting on Sunday.”

Musk has said the plan is to start with 10 to 20 Model Y vehicles carrying paying passengers fully autonomously around a specific, “geo-fenced” area of Austin. Tesla plans to eventually expand to more vehicles in several other cities, and allow Tesla owners to add their vehicle to an Uber (UBER)-like fleet, and start producing the Cybercab with no steering wheel or pedals next year.

Also Friday, Tesla announced on Chinese social media service Weibo that it has signed an agreement to build its first grid-scale battery power plant in China.

Bullish analysts have been eager to shift focus for Tesla stock to the robotaxi launch and away from Musk’s public split with President Donald Trump earlier this month, while more bearish analysts have said the feud could complicate the company’s regulatory path.

Earlier this week, a group of Texas lawmakers sent Tesla a letter asking the EV maker to pause its robotaxi launch until a new version of its autonomous vehicle regulations go into effect at the start of September.

Tesla shares were up less than 1% in recent trading at about $324. They are down about 20% on the year, but have recovered most of the ground lost as Musk and Trump traded online barbs earlier this month.

-Aaron McDade

Smith & Wesson Stock Plummets on Weak Consumer Spending Warning

5 hr 6 min ago

Smith & Wesson Brands (SWBI) shares plunged nearly 20% Friday after the gunmaker reported falling profit and revenue and warned of continuing slowing sales as consumers pulled back on spending.

After the bell Wednesday, the maker of the .44 Magnum gun made famous in the “Dirty Harry” movies posted fiscal fourth-quarter adjusted earnings per share (EPS) of $0.20, less than half of what it was a year ago. Revenue slumped 12% year-over-year to $140.8 million. 

CEO Mark Smith said the quarter “proved more difficult than we anticipated largely due to macro-economic and industry trends.” Smith noted that consumers are “generally being cautious” because of economic concerns, and that is pressuring discretionary spending.

CFO Deana McPherson added that firearm market conditions have been hurt by “persistent inflation, high interest rates, and uncertainty caused by tariff concerns.”

Looking ahead, Smith warned that “overall conditions suggest headwinds will likely persist in the near term.”

With today’s sharp decline, shares of Smith & Wesson Brands fell into negative territory for 2025.

-Bill McColl

Visa Stock Price Levels To Watch After Wednesday’s GENIUS Act Sell-Off

5 hr 57 min ago

Visa (V) shares slid this week after the Senate on Tuesday passed the GENIUS Act, providing a regulatory framework for companies issuing stablecoins.

The crypto-friendly legislation could open the door for merchants to bypass card-based payment systems offered by Visa and other payment providers. Reports surfaced last week that Walmart (WMT) and Amazon (AMZN) were looking into launching their own stablecoins, a move that could potentially eat away at the billions of dollars the retail titans pay in credit transaction fees.  

Shares of Visa were little changed in Friday afternoon trading, leaving them down about 4% for the week. Still, they’ve gained roughly 7% year-to-date, outpacing the S&P 500, which added less than 2% over the same period.

Earlier this month, the stock climbed above its prominent March and May peaks, before staging a sharp reversal to form a bull trap, a trading event that lures investors to buy upon a breach of major resistance—the two peaks in this case—before the price makes a sudden move lower.

As recent peaks on the chart made higher highs, the relative strength index (RSI) made comparatively shallower peaks to create a bearish divergence and indicate waning buying momentum.

The stock closed decisively below the respected 50-day moving average (MA) in Wednesday’s trading session, possibly paving the way for further selling.

The first support level to watch sits around $328. A retracement to this area may attract buying interest near the March swing low, which currently lies just above the upward sloping 200-day MA.

A more significant drop could see the shares revisit lower support near $302. Investors may look for entry points in this region around the stock’s April sell-off low and last November’s breakaway gap.

During upswings in the stock, investors should initially monitor the $350 level. The shares may face overhead selling pressure in this area near the rising 50-day MA, which currently sits alongside the late March peak and minor February trough.

Buying above this level could fuel a move toward $367. Investors who have bought Visa shares at lower prices may look for exit points in this location near the March and May peaks. 

This level sits in the same neighborhood as a projected downside target that takes the stock’s move lower from March to April and repositions it from the May high, potentially providing clues as to how a new downtrend may play out.

-Timothy Smith

CarMax Stock Rises After Profit Tops Estimates

7 hr 6 min ago

CarMax (KMX) shares gained Friday as the largest U.S. used car retailer posted better-than-expected profit as sales of retail vehicles increased even as prices declined.

The company reported fiscal 2026 first-quarter earnings per share of $1.38 on revenue that grew 6% year-over-year to $7.55 billion. Analysts surveyed by Visible Alpha expected $1.17 and $7.57 billion, respectively.

Retail vehicle revenue was up 7.5% to $6.10 billion, on a 9% gain in unit sales. Wholesale vehicle revenue fell 0.3% to $1.25 billion, although units sold were 1.2% higher. The average selling price for used vehicles dropped 1.5%, and they were down 1.7% for wholesale vehicles.

Gross profit climbed 13% to $893.6 million, boosted by a 12% rise in retail unit gross profit. Wholesale unit gross profit fell 0.4%.

CEO Bill Nash said the company benefited from “our best-in-class omni-channel experience, the diversity of our business, and our sharp focus on execution.”

Despite today’s 4% advance, shares of CarMax are down 18% year-to-date. 

-Bill McColl

Circle Stock Soars, Extending GENIUS Act Rally

7 hr 44 min ago

Circle Internet Group (CRCL) shares are up 13% in intraday trading Friday, extending gains they have made since the Senate passed the GENIUS Act to establish a federal framework around the use of stablecoins.

The GENIUS Act was passed on Tuesday and opens the door for the use of stablecoins by banks, fintech firms, retailers, and others. Stablecoins are cryptocurrencies whose value is tied to another currency or financial asset such as the U.S. dollar. The landmark ruling marks the first major legislation that deals with the digital currency industry that has been approved by Congress.

Shares of Circle—the largest U.S.-based stablecoin issuer—soared 168% in their June 5 debut on the New York Stock Exchange (NYSE) and have continued to rise sharply. After a 34% surge to nearly $200 Wednesday, they entered Friday’s session more than six times their initial public offering (IPO) price of $31.

According to The Wall Street Journal, overseas-based Tether, the biggest stablecoin issuer globally, “hasn’t shown it can meet the standards outlined in the bill.” Tether didn’t immediately respond to an Investopedia request for comment.

-Nisha Gopalan

Kroger Leads S&P 500 Gainers as Profit, Sales Growth Top Estimates

8 hr 30 min ago

Kroger (KR) stock led S&P 500 gainers Friday as the grocery giant reported fiscal first-quarter profit and identical sales growth that came in above analysts’ projections.

The company reported adjusted earnings per share (EPS) of $1.49 on revenue that edged lower year-over-year to $45.12 billion. Analysts surveyed by Visible Alpha had forecast $1.45 and $45.21 billion, respectively.

Kroger’s identical sales, which excludes fuel due to its more volatile pricing, rose 3.2%, better than the 2.3% increase that analysts had projected.

“While first quarter sales and profitability exceeded our expectations, the macroeconomic environment remains uncertain and as a result other elements of our guidance remain unchanged,” CFO David Kennerley said.

The retailer lifted its identical sales growth forecast for the full year to 2.25% to 3.25%, and affirmed the rest of its full-year projections. Last quarter, Kroger said it expected fiscal 2025 identical sales growth without fuel of 2% to 3% and adjusted EPS of $4.60 to $4.80.

Kroger shares were up about 7% Friday morning. They have risen 13% since the start of the year.

-Aaron McDade

Accenture Stock Tumbles as Quarterly Bookings Miss Estimates

9 hr 21 min ago

Accenture (ACN) stock fell in early trading Friday as the professional services firm’s fiscal third-quarter bookings fell short of analysts’ estimates.

The company reported earnings per share (EPS) of $3.49 on revenue that grew 8% year-over-year to $17.73 billion. Analysts had expected $3.29 and $17.33 billion, respectively, according to estimates compiled by Visible Alpha.

However, Accenture’s $19.7 billion in bookings fell well short of the $21.5 billion analyst consensus. Both consulting and managed services bookings were below what analysts had forecast.

Accenture lifted the bottom end of its full-year revenue forecast again, now projecting 6% to 7% growth from fiscal 2024, and also raised its EPS estimate to $12.77 to $12.89. Last quarter, Accenture raised the lower end of its fiscal 2025 revenue growth and EPS ranges, forecasting 5% to 7% sales growth and EPS of $12.55 to $12.79.

Despite the solid top and bottom-line results, Accenture shares were down 6% early Friday. They entered Friday down about 13% since the start of the year.

-Aaron McDade

U.S. Stock Futures Tick Higher

10 hr 3 min ago

Futures contracts connected to the Dow Jones Industrial Average were up about 0.2% in premarket trading on Friday.

S&P 500 futures were also about 0.2% higher.

Nasdaq 100 futures advanced 0.3%.