Biggest S&P 500 Movers on Thursday
2 hr 33 min ago
Advancers
Snap-On (SNA) shares rose 7.9%, scoring Thursday’s top performance in the S&P 500, after the provider of professional tools topped second-quarter sales and profit estimates. The company highlighted the resilience of its gross margins despite trade-related uncertainties, a return to sales growth in its U.S. tools segment, and strong sales from its vehicle diagnostic and repair information products.
Lithium prices gained ground after China’s Zangge Mining said it stopped lithium production in Qinghai province following directives from local officials. Shares of Albemarle (ALB), the world’s largest lithium miner, surged 7.6%. Albemarle and other producers have cut employees and reduced expansion plans as they navigate a prolonged slump in the price of the key battery component.
PepsiCo (PEP) reported better-than-expected sales and profits for the second quarter, and shares of the soft-drink and snack-food giant jumped 7.5%. The parent company of brands like Mountain Dew and Lay’s potato chips offered a slightly improved forecast for core profits in 2025, noting that the weaker U.S. dollar contributed to its earnings outlook.
Decliners
Elevance Health (ELV) shares plunged 12.2%, losing the most of any S&P 500 stock on Thursday. The parent of the Wellpoint, Anthem, and Carelon healthcare services fell short of quarterly profit estimates and lowered its full-year forecast, citing higher costs for Affordable Care Act and Medicaid coverage. Other health insurance stocks also moved lower. Molina Healthcare (MOH) shares slipped 5.5%, while shares of Centene (CNC), which pulled its full-year guidance earlier this month amid cost pressures, sank 4.2%.
Abbott Laboratories (ABT) posted better-than-expected quarterly revenue and adjusted profit but narrowed its full-year outlook. The drugmaker reported a year-over-year sales decline in its diagnostics segment, pressured by drop in demand for COVID-19 tests, although sales in its nutrition and established pharmaceuticals businesses were higher than a year ago. Abbott shares fell 8.5%.
Second-quarter profits from advertising and media firm Omnicom (OMC) were down year-over-year, reflecting elevated costs related to the ongoing acquisition of competitor Interpublic Group (IPG). Shares of both Omnicom and Interpublic Group closed Thursday’s session more than 4% lower.
-Michael Bromberg
Netflix Tops Earnings Estimates, Lifts Revenue Outlook
3 hr 39 min ago
Netflix (NFLX) reported second-quarter earnings that topped analysts’ expectations, and lifted its full-year revenue forecast.
The streamer’s net income of $3.13 billion, or $7.19 per share, rose from $2.15 billion, or $4.88 per share, in the year-ago quarter, above analysts’ estimates compiled by Visible Alpha. Its revenue grew 15.9% year-over-year to $11.08 billion, in line with the analyst consensus.
The gains come after Netflix raised prices for its plans earlier this year, hiking its ad-supported plan to $7.99 from $6.99 per month in January, the standard ad-free plan to $17.99 from $15.49 a month, and its premium plan to $24.99 from $22.99 a month.
Looking ahead, the company raised its fiscal 2025 revenue projection to $44.8 billion to $45.2 billion, up from $43.5 billion to $44.5 billion previously. Analysts on average had expected $44.6 billion. The company’s third-quarter revenue forecast of $11.53 billion exceeded Wall Street’s estimate of $11.31 billion.
Netflix shares were down about 1% in after-hours trading following the release. The stock was up over 40% for 2025 through Thursday’s close.
-Andrew Kessel
Why Health Care Stocks Tumbled Thursday
4 hours ago
Medical insurers and pharmaceutical companies’ stock fell Thursday, weighed down by Elevance’s downbeat outlook and other factors.
Health care was the worst-performing sector in the S&P 500 Thursday. UnitedHealth Group (UNH), which provides health insurance and other services, was the worst-performing stock in the Dow Jones Industrial Average.
Elevance Health (ELV) shares plunged 12%, making it the worst-performing stock in the S&P 500. The medical insurer lowered its outlook for a second consecutive year because of an “unprecedented cost trend affecting multiple lines of business,” CEO Gail Boudreaux said on a conference call, according to a transcript from AlphaSense.
Investors responded by selling other medical insurers’ shares, with shares of Molina Healthcare (MOH) recently falling more than 5%, of Centene Corp. (CNC) dropping 4% and of Cigna Group (CI) sliding 2.5%. UnitedHealth closed 1.5% lower.
Centene pulled its full-year guidance in early July, while UnitedHealth pulled its outlook in May.
Some investors also appeared to sour on pharmaceutical companies. Shares of Abbott Laboratories (ABT), which makes medicine and nutritional products like Ensure, dropped more than 8%. Abbott narrowed its outlook for the year, noting declining demand for COVID-19 tests.
Shares of the pharmaceutical company Eli Lilly (LLY) shed more than 3%.
Albemarle Jumps as Chinese Lithium Mine Halts Operations
5 hr 9 min ago
Albemarle (ALB) shares surged Thursday as lithium prices rose amid reports that a large lithium mine in China halted operations, easing concerns about an oversupply.
Shares of the world’s largest lithium miner were up nearly 9% in late trading, leading gains in the S&P 500. Sociedad Quimica y Minera, or SQM (SQM), saw its shares rise close to 8%.
China’s Zangge Mining Co. said government officials told the company to halt illegal operations at a mine in Qinghai province and follow guidelines governing lithium resources, according to Bloomberg. The report said the company is working on preparing documents to apply to resume output.
Separately, analysts from RBC Capital Markets on Thursday lifted their price target for Albemarle stock to $80 from $76 and reiterated an “outperform” rating, while noting a key weakness from persistently low lithium prices due to oversupply. Albemarle is set to report second-quarter results after the closing bell on July 30.
Albemarle’s Thursday move brought the stock above $76 in recent trading, just above the $75 mean of analysts surveyed by Visible Alpha. Four of the 12 analysts give the stock a “buy” or equivalent rating, compared with seven “hold” ratings, and one “sell.”
Even with Thursday’s gains, the shares have lost close to 12% of their value since the start of the year.
-Aaron McDade
CSX, Norfolk Southern Gain on Union Pacific Deal Talk
5 hr 15 min ago
Shares of railroad operators CSX (CSX) and Norfolk Southern (NSC) climbed Thursday on a report suggesting they might be targets of a takeover bid by bigger rival Union Pacific (UNP).
CSX and Norfolk Southern shares were up more than 3% in recent trading, while Union Pacific shares declined more than 1%.
Semafor said Union Pacific has hired Morgan Stanley to look into acquiring another rail carrier. The report noted CEO Jim Vena has discussed creating the country’s first transcontinental line, and that it could mean adding an East Coast carrier such as CSX or Norfolk Southern.
Semafor added that the Trump administration’s push to boost U.S. manufacturing could make a merger of major railroads more palatable to regulators. If it struck a deal, Union Pacific could argue that a coast-to-coast railroad would compete better with the trucking industry, which carries more than 70% of domestic freight, Semafor said.
A Union Pacific spokesperson told Investopedia the company “does not comment on rumor or speculation.”
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Shares of Union Pacific are little changed since the start of the year, while CSX and Norfolk Southern have gained.
-Bill McColl
Lucid Shares jump on Robotaxi Partnership With Uber
6 hr 55 min ago
Rideshare giant Uber Technologies (UBER) said Thursday it’s partnering with electric vehicle startup Lucid Group (LCID) and self-driving software maker Nuro to develop robotaxis and bring them to Uber’s network.
Lucid shares were up nearly 40% in recent trading on the news, bringing them back into positive territory for the year, while Uber shares were little changed Thursday after hitting a record high last week.
The vehicles are expected to launch in a yet-to-be-named “major US city” late next year, and Uber said it is looking to add at least 20,000 self-driving Lucid vehicles to its platform over the next six years in a larger number of markets. As part of the deal, Uber is investing hundreds of millions of dollars in Lucid and Nuro.
Bing Guan / Bloomberg / Getty Images
Lucid’s first Nuro-enhanced prototype vehicle is currently testing its autonomous driving capabilities at Nuro’s facility in Las Vegas, the companies said. Once the prototype is proven to be effective, Lucid will start manufacturing some of its Lucid Gravity SUVs with the necessary hardware to use Nuro’s self-driving software.
Wedbush analysts said in a note following the announcement that the deal could present some risks for Uber, as it could harm Uber’s relationship with Google parent Alphabet’s (GOOGL) Waymo. They added Lucid and Nuro’s production and technology abilities could also prove incapable of scaling as fast as Uber wants. The analysts wrote that other robotaxi makers like Waymo and Tesla (TSLA) have scale and technology advantages over Lucid and Nuro.
The collaboration is the latest in a string of autonomous driving partnerships for Uber, having recently expanded its work with Waymo in Atlanta, and inked deals with other autonomous vehicle and software makers to bring self-driving robotaxis to market in several countries around the world.
The robotaxi market is becoming increasingly competitive, with Tesla launching its own long-awaited service in Austin, Texas last month. Bank of America analysts recently identified dozens of companies that could benefit from the growing market, including chipmaker Nvidia (NVDA) and Caterpillar (CAT).
-Aaron McDade
Sarepta Soars on Restructuring Plans
7 hr 12 min ago
Shares of drug developer Sarepta Therapeutics (SRPT) surged Thursday following the late-Wednesday news that the company would shrink its workforce and pause several developmental projects as part of a restructuring plan.
The plan, the company said, is intended to “prioritize high-value, high impact programs, meet its 2027 financial obligations, and support its long-term financial viability.” CEO Doug Ingram said in a statement that the latest moves “will ensure we remain a financially strong and profitable organization built on a sharpened and focused strategy.”
Sarepta shares were up 18% in recent trading, though they’re still down more than 80% since the start of 2025. The stock is trading at below $22 a bit more than a year after it commanded $160 per share.
Part of the reason its shares have dropped so dramatically: Two patients who were using its Elevidys drug for Duchenne muscular dystrophy died of acute liver failure, contributing to a decision to stop shipments for some patients. The company on Wednesday said it continues to work with the Food & Drug Administration about labeling for Elevidys and to study ways to ensure its safety.
Wall Street analysts, meanwhile, appear to think more recovery is in order. The mean price target on the shares, according to Visible Alpha, is closer to $37.
-David Marino-Nachison
GE Aerospace Shares Slip Despite Strong Earnings
7 hr 24 min ago
GE Aerospace (GE) raised its full-year outlook and reported better second-quarter results than analysts had expected.
The former General Electric division said it now expects adjusted revenue to grow in the mid-teens range this year, from low double digits previously, while adjusted EPS is projected from $5.60 to $5.80. GE Aerospace also lifted some long-term targets like revenue and profitability expectations for 2028.
The company reported a 21% jump in second-quarter revenue from the same time a year ago to $11.02 billion, while adjusted earnings per share came in at $1.66. Both were better than analysts had anticipated, per estimates from Visible Alpha.
Revenue in the second quarter jumped 30% in GE Aerospace’s commercial engines and services segment, as the company credited solid demand for new engines and spare parts and repairs to older engines.
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Shares were down about 1% in recent trading, giving up early gains following the release. They’ve added nearly 60% since the start of the year.
-Aaron McDade
Abbott Shares Drop on Revised Outlook
8 hr 26 min ago
Abbott Laboratories (ABT) shares slumped Thursday after the drugmaker narrowed its full-year outlook, even as it posted better-than-expected quarterly results, as demand for COVID-19 tests declines.
The shares were down nearly 9% in recent trading, among the worst performers in the S&P 500. Still, they’ve added about 6% since the start of the year.
The company said it now sees full-year adjusted earnings per share of $5.10 to $5.20, compared to its previous outlook of $5.05 to $5.25 per share.
In the second quarter, sales at Abbott’s Diagnostics unit dropped 1% year-over-year to $2.28 billion, dragged down by COVID-19 testing sales, which slid 46% to $55 million. Its Nutrition segment’s sales were up 2.9% to $2.21 billion, and they grew 6.9% to $1.38 billion at its Established Pharmaceuticals division.
Overall, second-quarter adjusted EPS came in at $1.26, with revenue rising 7.4% to $11.14 billion. Both figures exceeded analysts’ forecasts compiled by Visible Alpha.
CEO Robert Ford said the company had a strong first half of the year, and that it sees “this momentum carrying into 2026.”
TSMC Rises as Chips Giant Boosts Revenue Outlook
8 hr 43 min ago
Taiwan Semiconductor Manufacturing Co. (TSM) boosted its full-year revenue growth projection to around 30%, with strong AI demand fueling results at the world’s largest contract chipmaker.
Shares of the company, which works with tech heavyweights Apple (AAPL) and Nvidia (NVDA), were 4% higher in recent trading. The stock has now gained 25% since the start of 2025.
The company expects its 2025 revenue to rise around 30% in U.S dollar terms, TSMC CEO C.C. Wei said in the company’s second-quarter earnings call, according to a transcript provided by AlphaSense. In April, Wei had said he expected the chipmaker’s full-year revenue to rise by “close to mid-20s percent.”
I-Hwa Cheng / AFP / Getty Images
The chipmaker said it expects revenue of between $31.8 billion and $33 billion during the third quarter. At the midpoint of the range, that was higher than Visible Alpha’s consensus estimate of 932.04 billion New Taiwan dollars, or about $31.67 billion.
Meanwhile, the company registered second-quarter earnings per share of 15.36 New Taiwan dollars on revenue that rose 39% year-over-year to NT$933.79 billion. Analysts polled by Visible Alpha expected NT$14.6 and NT$929.79 billion, respectively.
-Nisha Gopalan
PepsiCo Soars After Better-Than-Expected Results
10 hr 5 min ago
PepsiCo (PEP) shares surged Thursday after the beverage and snack food giant affirmed its outlook and also posted better-than-estimated quarterly results.
The maker of Pepsi soda and Doritos and Cheetos chips reported adjusted earnings per share of $2.12 on sales of $22.73 billion. Analysts surveyed by Visible Alpha had expected $2.06 and $22.35 billion, respectively.
“Our international business momentum continued, while our North America businesses improved their execution and competitiveness in key subcategories and channels,” CEO Ramon Laguarta said. While North American revenues rose 1% year-over-year, volume dropped by 2%.
PepsiCo said it continued to expect EPS to be “approximately even with the prior year” in constant-currency terms. The company also said it expects a 1.5% year-over-year decline in core EPS in 2025 versus its previous 3% decline projection, with Laguarta crediting the weaker U.S. dollar for the improvement in earnings forecast.
“We’re encouraged by the acceleration in our net revenue growth versus the previous quarter with our businesses effectively navigating through a challenging environment,” Laguarta said.
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PepsiCo shares were up more than 6% recently and were among the big gainers in the S&P 500 Thursday.
-Nisha Gopalan
Why MP Materials is Sliding After Soaring in Recent Weeks
11 hr 17 min ago
A hot company is cashing in—and its shares are falling.
After nearly doubling in value over the last week and closing Wednesday at a record high, shares of MP Materials (MP) are sinking after the rare earths miner announced plans to sell new stock.
MP’s shares started moving lower after yesterday’s closing bell, when MP Materials said it was planning to raise at least $500 million through the sale of new shares. Early Thursday, the company put out another release announcing that it would sell just over 11.8 million shares at $55 per share for a total offering worth $650 million.
MP Materials shares were down more than 5% in early trading today after closing at $58.55 on Wednesday.
The company said it plans to use the proceeds “to fund the acceleration and expansion of our operations,” including the construction of a second domestic magnet manufacturing facility, along with other “strategic growth opportunities and for general corporate purposes.”
MP Materials’ stock has surged lately as the company announced investments from the Department of Defense and Apple (AAPL). The Trump administration has said it is a priority to make the U.S. less reliant on other countries for the materials used in a variety of technologies and products.
-Aaron McDade
Watch These AMD Levels as Stock Continues Surging
11 hr 50 min ago
Advanced Micro Devices (AMD) shares climbed again Wednesday amid optimism about the company’s plans to restart exports of its MI308 chips to China once it receives final approval from U.S. authorities.
Reports that the U.S. Commerce Department had informed the company that it will once again review applications for licenses to sell the chips in China sent AMD shares more than 6% higher on Tuesday. The stock gained another 3% Wednesday, closing at around $160, its highest level since late October.
Rival chip giant Nvidia (NVDA) had announced late Monday that it planned to resume exports of its H20 chips to China after receiving assurances from the Trump administration that the restrictions that were imposed in April would be lifted. AMD had previously said it expected to face charges of up to $800 million related to the export of its MI308 chip, while Nvidia anticipated the curbs to cost it $5.5 billion.
AMD shares have more than doubled since hitting their low for the year in early April. The stock is up 33% so far in 2025, outpacing Nvidia’s 28% year-to-date gain.
AMD shares gapped above a tight rectangle formation in Tuesday’s trading session, laying the groundwork for a continuation move higher. Importantly, the breakout occurred on the highest volume since mid-June, suggesting buying conviction from larger market participants. Moreover, the relative strength index confirms bullish momentum, though it also flashes overbought conditions with a reading above the indicator’s 70 threshold.
It’s also worth noting that the 50-day moving average crossed above the 200-day MA on Wednesday to form a golden cross, a chart signal that indicates the start of a new trend higher.
Investors should watch key overhead areas on AMD’s chart around $187 and $215, while also monitoring important support levels near $148 and $123.
Read the full technical analysis here.
-Timothy Smith
Major Index Futures Mixed
12 hr 28 min ago
Futures tied to the Dow Jones Industrial Average were down 0.2% recently.
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S&P 500 futures edged lower.
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Nasdaq 100 futures rose fractionally.
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