S&P 500, Nasdaq Hit New Highs as Airline Stocks Soar After Strong Delta Earnings; Bitcoin Surges to Record

Biggest S&P 500 Movers on Thursday

7 hr 9 min ago

Advancers

Airline stocks took off after Delta (DAL) reported better-than-expected quarterly results. The carrier also reinstated its outlook for the full year. Shares of rival United Airlines (UAL) notched the S&P 500’s top performance, soaring 14.3%, while Delta surged 12%, and Southwest Airlines (LUV) added 8.1%.

Shares of cosmetics maker Estée Lauder (EL) jumped 6.3% as Bank of America reinstated coverage of the stock with a “buy” rating. BofA Securities analysts expressed optimism about recovery efforts at Estée Lauder, suggesting that the skincare and makeup company’s “Beauty Reimagined” turnaround plan could help boost efficiency and drive a recovery in volumes.
Teradyne (TER) shares popped 6.3% higher following reports that Amazon (AMZN) is using the semiconductor testing firm’s technology in its Vulcan warehouse robot. The online retailer has reportedly described the new robotic systems as a breakthrough in automation technology, with tactile capabilities allowing them to handle tasks that were previously difficult to automate.

Decliners

Shares of Axon Enterprise (AXON), maker of the Taser and other law enforcement equipment, dropped 9%, suffering the heaviest decline of any S&P 500 constituent. The losses came in the wake of an earnings report from small-cap competitor Byrna Technologies (BYRN). Although Axon’s rival in the market for “less lethal” self-defense products exceeded sales and profit forecasts, its gross margins were below those seen in recent quarters. Byrna shares plunged 21.3%.
PTC (PTC) shares lost 7.6% on Thursday, giving back some of the strong gains posted in the prior session following reports of takeover interest from engineering software peer Autodesk (ADSK). Autodesk has reportedly been working with advisors to evaluate a possible cash-and-stock acquisition of PTC but has yet to reach a final decision about making an offer. Autodesk shares fell 6.9%, losing ground for the second straight day in the wake of the report.
Shares of energy generator AES Corp. (AES) sank 6.4%. Much like PTC, AES shares failed to maintain their momentum a day after they powered nearly 20% higher amid reports that the utility could be an acquisition target, with Bloomberg describing interest from major infrastructure investors including Brookfield Asset Management.

-Michael Bromberg

Jensen Huang is Almost as Rich as Warren Buffett

7 hr 42 min ago

Jensen Huang’s wealth could soon overtake famed investor Warren Buffett’s, as Nvidia’s rising stock has made the AI chipmaker the most valuable company in history. 

Nvidia (NVDA) on Wednesday became the first company to hit a market capitalization of $4 trillion, though it finished the day just below that level. The shares added another 0.8% Thursday to close just above $164, putting the market cap back above $4 trillion. The stock is 21% higher for 2025 and up roughly 1,400% over the past 5 years.

Huang, Nvidia’s CEO, owns about 3.5% of the AI boom’s poster child. He’s seen his net worth climb to an estimated $142 billion as of Wednesday, according to the Bloomberg Billionaires Index, rising $2.47 billion yesterday alone, and swelling over $27 billion since the start of the year.

 This week’s gains have made Huang the 10th richest person in the world in Bloomberg’s ranking, just behind Berkshire Hathaway (BRK.A, BRK.B) CEO and “Oracle of Omaha” Warren Buffett at an estimated $144 billion.

At that level, it wouldn’t take much for Huang’s wealth to overtake Buffett’s. Wall Street’s analysts are largely bullish on Nvidia’s potential for more gains, with a mean target near $175 compiled by Visible Alpha.

A Nvidia spokesperson declined to comment on the stock’s gains and Huang’s net worth.

-Kara Greenberg

Estée Lauder Pops as BofA Issues ‘Buy’ Rating

8 hr 45 min ago

Shares of Estée Lauder Cos. (EL) surged Thursday after Bank of America reinstated coverage of the stock with a “buy” rating and a bullish price target, citing optimism about the cosmetics giant’s recovery efforts.

BofA Securities analysts gave the stock a price objective of $110. Estée Lauder shares were among the top S&P 500 gainers today, rising 6% to around $92.

BofA analysts wrote that Estée Lauder is the “#2 player in attractive market, where cyclical upside exists,” adding that the firm’s “Beauty Reimagined” turnaround plan would “drive efficiency & rebuild volumes.”

Last month, Deutsche Bank upgraded the stock to “buy” from “hold” and lifted its price target to $95 from $71, with analysts writing that Estée Lauder was “in a far better position to at least keep pace (if not surpass) market growth rates.”

With today’s sharp gains, Estée Lauder shares have added nearly a quarter of their value this year.

-Aaron Rennie

Autodesk Sinks on Report It’s Looking to Buy Rival PTC

9 hr 47 min ago

Autodesk (ADSK) was among the worst-performing stocks in the S&P 500 Thursday, a day after a report that the engineering-software company was mulling an acquisition of rival PTC (PTC).

Citing people familiar with the matter, Bloomberg  reported Wednesday that Autodesk “has been working with advisers to evaluate a cash-and-stock deal for Boston-based PTC.” The news site added that “no final decision has been made and Autodesk could opt against pursuing a deal for PTC.”

Autodesk has a market capitalization of about $60 billion, while PTC has a market value of roughly $23 billion.

Neither Autodesk nor PTC immediately returned an Investopedia request for comment.

Autodesk shares were down nearly 7% in recent trading to move into negative territory for the year. PTC shares were also down about 7% but remain up 6% for 2025.

-Aaron Rennie

Why Wall Street Might be Underestimating Palantir

10 hr 12 min ago

Palantir’s (PLTR) stock has been one of the biggest beneficiaries of the AI boom this year, with one longtime bull expecting it still has room to rise, amid some worries on Wall Street the stock could be overvalued.

Wedbush analysts led by Dan Ives raised their price target to $160 from $140 on Thursday, implying roughly 12% upside from Wednesday’s close, anticipating Palantir could be a “core winner in the trillions of AI spend over the next few years.”

However, Wedbush’s bullish stance stands out on Wall Street, with most of the 11 analysts surveyed by Visible Alpha divided between neutral and “sell” ratings. Their targets lean decidedly more bearish than bullish, with a mean of $97, amid some concerns the stock may have already climbed too high, too fast.

Palantir shares have added almost 90% in 2025 so far and are worth roughly five times today what they were a year ago as demand for Palantir’s Artificial Intelligence Platform has surged. 

“We believe the Street is underestimating the $1 billion+ revenue stream that [Palantir’s Artificial Intelligence Platform] US commercial business can evolve into over the next few years and the technology competitive moat that (CEO Alex) Karp & Co. have built,” Wedbush told clients Thursday.

Wedbush added Palantir could be in a “sweet spot” to benefit from federal spending in North America and Europe, with the Trump administration’s focus on AI initiatives presenting another tailwind for the stock.

Last month, Palantir said it was partnering with professional services firm Accenture (ACN) to “deploy commercial-grade, AI-powered solutions to address federal agencies’ highest priority operational challenges.” The federal government has reportedly integrated Palantir’s software into multiple agencies, including the Department of Homeland Security and the Health and Human Services Department.

Palantir shares were down slightly at around $142 in late trading Thursday.

-Andrew Kessel

AMD Jumps as HSBC Upgrades Stock on AI Chip Strength

11 hr 32 min ago

The performance of Advanced Micro Devices’ (AMD) latest AI chips is on par with those from Silicon Valley rival Nvidia’s (NVDA), HSBC analysts said.

In a note Thursday, HSBC analysts upgraded their rating on AMD to a “buy” from a “hold” and doubled their price target to $200, noting that AMD’s latest series of chips can compete with Nvidia’s Blackwell GPUs. AMD launched its Instinct MI350 Series GPUs last month, claiming the chips offered four times more computing power than its previous generation.

AMD shares were up more than 4% in recent trading, pacing Nasdaq 100 gainers.

“With the recent launch of the MI350 series, we were pleasantly surprised with the performance upgrades which imply that the MI350 series can compete with Nvidia latest-gen HGX B200 AI GPU,” HSBC analysts wrote. “Owing to the performance enhancements, the pricing premium is much higher than expected earlier which could help drive upside to earnings in 2025 and 2026.”

The analysts, led by Frank Lee, also wrote that there was further upside possible for AMD shares when the chipmaker launches its MI400 series next year, which could compete with Nvidia’s next-generation Vera Rubin platform—scheduled for the second half of 2026. AMD unveiled the MI400 last month in an event hosted by CEO Lisa Su and Sam Altman, CEO of OpenAI, which has signed on as a customer for the next-gen chips.

-Nisha Gopalan

Bitcoin Price Levels to Watch After Latest Record High

12 hr 39 min ago

Bitcoin (BTCUSD) hit an all-time high on Thursday after powering past $112,000 yesterday for its first new high since late May.

In recent months, the cryptocurrency has received a boost from more companies adding it to their corporate treasuries and lawmakers working towards passing pro-crypto legislation.

Bitcoin’s price nudged above the top trendline of a descending channel on Wednesday, paving the way for a continuation move higher. Moreover, the relative strength index confirms bullish momentum and remains below overbought levels, providing ample room for the digital asset to move into price discovery mode.

However, it’s worth pointing out that trading volume continues to dwindle on Coinbase (COIN), the largest U.S.-based crypto exchange, suggesting that larger market participants, such as institutional investors, may be accumulating the asset through spot bitcoin exchange-traded funds (ETFs) rather than exchanges.

The measuring principle projects an upside target if $146,400. Investors should also watch major support levels on bitcoin’s chart around $107,000 and $100,000.

Bitcoin was trading at $112,900 recently.

Read the full technical analysis piece here.

-Timothy Smith

Kellogg Pops as Ferrero Buys Cereal Giant for $3.1 Billion

13 hr 22 min ago

Shares of WK Kellogg (KLG) surged 30% Thursday as the maker of Froot Loops and Frosted Flakes announced it had reached a deal to be acquired by Italian sweets company The Ferrero Group for $23 per share in cash, or about $3.1 billion.

WK Kellogg stock had soared overnight on a report from The Wall Street Journal that the companies could finalize a deal “as soon as this week.” Shares were recently trading for $22.85—a level they hadn’t hit in more than a year as shifting attitudes towards diet and price increases in the category ate into cereal sales. The stock had entered Thursday trading slightly negative for 2025.

“We believe this proposed transaction maximizes value for our shareowners and enables WK Kellogg Co to write the next chapter of our company’s storied legacy,” CEO Gary Pilnick said, adding that joining Ferrero would provide the firm “with greater resources and more flexibility to grow our iconic brands in this competitive and dynamic market.”

The transaction is expected to close in the second half of 2025. The New York Stock Exchange-listed cereal giant said once it does, it would become a privately held subsidiary of Ferrero, which has more than 14,000 employees in North America, where its portfolio includes Nutella, Tic Tac, and Butterfinger.

“Over recent years, Ferrero has expanded its presence in North America, bringing together our well-known brands from around the world with local jewels rooted in the U.S.,” Ferrero Group Executive Chairman Giovanni Ferrero said. “Today’s news is a key milestone in that journey, giving us confidence in the opportunities ahead.”

WK Kellogg emerged in 2023 when Kellogg split up its cereal lines and snack business, which became Kellanova (K).

-Sarina Trangle

Robotaxi Expansion, Grok Chatbot in Teslas Coming Soon

13 hr 53 min ago

Tesla (TSLA) will likely expand its robotaxi service in the coming weeks and months, and will also soon have Grok, the chatbot made by another Elon Musk-owned company, added to its vehicles likely by next week.

Musk made the statements in a pair of posts on X, the social media platform he owns, Wednesday night and into Thursday morning, responding to users discussing whether Grok would come to Tesla vehicles, and about Tesla’s robotaxi service that launched last month.

Musk said the area around Austin where its robotaxis can operate will get bigger this weekend, and said the EV maker is awaiting regulatory approval to expand to California’s Bay Area, which Musk said will likely happen in the next two months. The robotaxi launch has been relatively smooth, with some reported issues like vehicles stopping in the middle of an intersection and briefly driving on the wrong side of the road.

The looming addition of Grok to Tesla vehicles comes at a tense point for the chatbot, as earlier this week it was the center of its latest controversy surrounding dozens of antisemitic posts where the large language model referred to itself as “MechaHitler” and praised the German dictator.

The company removed the posts, and briefly took Grok offline for the public. In the days since, X CEO Linda Yaccarino announced her departure, with reports suggesting tensions were rising between her and Musk, and xAI also unveiled the newest version of the chatbot, Grok 4, on Wednesday night.

Also on Wednesday, Tesla said in a regulatory filing that it will hold its annual shareholder meeting on Nov. 6. The filing came after pressure from shareholders and elected officials as it remains uncertain whether Tesla’s meeting taking place in November violates a Texas law requiring annual meetings to take place within 13 months of the previous meeting, as Tesla’s was held last July.

Tesla shares were up nearly 3% in recent trading. They have lost a quarter of their value since the start of this year, with some analysts calling for Tesla’s board to act to curb Musk’s involvement in politics.

-Aaron McDade

MP Materials Stock Soars on Rare Earths DOD Deal

15 hr 22 min ago

Shares of MP Materials (MP) surged more than 50% in early trading Thursday after the rare earths miner announced a multibillion-dollar agreement with the Department of Defense.

The DoD is set to become MP Materials’ largest shareholder at 15% following an initial $400 million purchase of a new class of “preferred stock convertible into shares of the Company’s common stock, and a warrant permitting DoD to purchase additional shares of the Company’s common stock.”

MP Materials will use the government investment, along with a $1 billion funding line from JPMorgan Chase (JPM) and Goldman Sachs (GS) to fund the construction of its second domestic magnet manufacturing facility at a yet-to-be-decided location.

The company also agreed to a 10-year deal with the DoD establishing the government as a long-term customer of MP’s rare earths with a price floor of $110 per kilogram.

The Trump administration has stated that becoming less dependent on other nations like China for rare earths—metals used in production of a variety of commercial and military products—is a top priority and national security concern. Shares of MP and USA Rare Earth (USAR) have been boosted this year by that commitment.

MP Materials shares were up 56% recently, trading at their highest level in more than three years. USA Rare Earth shares were up about 15% this morning.

-Aaron McDade

Delta Leads Airline Stocks Higher After Strong Earnings Report

15 hr 41 min ago

Delta Air Lines (DAL) was the top-performing stock in the S&P 500 early Thursday after the carrier reported better second-quarter results than analysts had expected and reinstated its full-year outlook.

Delta posted adjusted earnings per share of $2.10 on revenue that was roughly flat year-over-year at $16.65 billion. Analysts polled by Visible Alpha had projected $2.08 and $16.41 billion, respectively. Last quarter, Delta said it expected revenue to be down 2% to up 2%, with adjusted EPS within a range of $1.70 to $2.30.

For the third quarter, the airline sees revenue between flat and up 4%, with adjusted EPS between $1.25 and $1.75. Analysts expect revenue roughly flat at $15.69 billion, with adjusted EPS of $1.36.

Delta also reintroduced its full-year projections, saying it expects adjusted EPS of $5.25 to $6.25, with the midpoint well above analysts’ consensus of $5.31. Last quarter, it said it would provide an update to its outlook once the “current uncertainty” passed.

“As we look to the second half of our centennial year, we remain focused on executing our strategic priorities and managing the levers within our control to deliver strong earnings and cash flow,” Delta CEO Ed Bastian said, adding that restoring its full-year guidance reflects “our confidence in the business.”

Delta shares were up roughly 13% recently, but they remain down about 6% since the start of the year. Shares of rivals United Airlines (UAL) and American Airlines (AAL) were also up sharply this morning.

-Aaron McDade

Microsoft Levels to Watch as Stock Above $500 for 1st Time

16 hr 19 min ago

Microsoft (MSFT) shares hit another record high on Wednesday as the tech giant’s market capitalization moves closer to $4 trillion. 

The stock closed at around $503 yesterday, putting its market cap at $3.74 trillion, trailing only Nvidia (NVDA), which briefly surpassed the $4 trillion level on Wednesday.

Investment bank Oppenheimer believes Microsoft has room for further upside, placing a $600 price target on the stock yesterday, in part due to the company’s AI revenue growth prospects. Meanwhile, Wedbush analyst Dan Ives told clients in a note Wednesday that he anticipates Microsoft to reach the $4 trillion mark this summer.

The stock has risen 46% from its early-April low and is nearly 20% higher year-to-date as of Wednesday’s close.

After bottoming near the 200-week moving average in early April, Microsoft shares have remained in a strong uptrend, gaining in 12 of the past 14 weeks.

While the relative strength index confirms bullish price momentum, it has recently crossed into overbought territory, an area on the indicator that has previously coincided with consolidation phases in the stock.

It’s worth noting that the volume has trended downward during the stock’s move higher in recent months, indicating that some larger institutional investors may be waiting for the tech giant’s next earnings report before deploying more capital.

Investors should watch crucial support levels on Microsoft’s chart near $468 and $425.

Read the full technical analysis piece here.

-Timothy Smith

Major Index Futures Holding Steady

17 hr 6 min ago

Futures tied to the Dow Jones Industrial Average were down 0.1%.

S&P 500 futures fell fractionally.

Nasdaq 100 futures were up less than 0.1%.