Big S&P 500 Movers on Wednesday
12 minutes ago
Advancers
- Amphenol (APH), a manufacturer of antennas and high-speed electronic cables, topped revenue and adjusted earnings per share (EPS) estimates in its first-quarter earnings report. The company also provided an upbeat forecast for the current quarter, noting opportunities across end markets and highlighting how innovation and strategic acquisitions have helped expand its product offering. Amphenol shares surged 8.2% to secure the top performance in the S&P 500 on Wednesday.
- The technology sector outperformed on Wednesday, bolstered by increased optimism for improvements in the U.S.-China trade relationship. Super Micro Computer (SMCI) announced an expansion of its collaboration with Japanese tech firm Fujitsu, which will deploy a new Supermicro server as part of its large language model (LLM) project. Supermicro shares jumped 7.6%.
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- Meanwhile, Palantir Technologies (PLTR) shares gained 7.3%. The data analytics software firm said it will partner with defense contractor Northrop Grumman (NOC) to develop combat vehicles that leverage artificial intelligence (AI) technology. Northrop Grumman shares edged 1.9% higher on Wednesday, marking a minor recovery from the heavy decline posted in the prior session following a lackluster earnings report.
Decliners
- Shares of solar technology firm Enphase Energy (ENPH) plunged 15.7%, losing the most of any S&P 500 stock. The company posted lower-than-expected sales and profits for the first quarter, and Enphase’s CEO noted that tariffs could weigh on future results. In particular, the company sources battery cell packs from China and anticipates that levies on these imports will pressure its gross margins in upcoming quarters.
- Although heating, ventilation, and air conditioning (HVAC) specialist Lennox International (LII) topped quarterly sales and profit estimates, its full-year guidance fell short of consensus forecasts, and its shares fell 9.0%. The CEO stressed that Lennox is adapting to the challenging economic environment with pricing adjustments as it aims to maintain the stability of its supply chain.
- Shares of oilfield services and energy technology firm Baker Hughes (BKR) sank 6.4% on Wednesday following a mixed quarterly earnings release. Although profits topped forecasts, revenues came in below expectations. The company faces an uncertain macroeconomic backdrop and softness in oil prices that could hinder its clients’ production activities.
Texas Instruments Shares Climb on Strong Earnings, Outlook
40 minutes ago
Texas Instruments (TXN) issued an outlook well above Wall Street’s projections and posted better-than-expected earnings for the first quarter, sending shares higher in extended trading Wednesday.
The semiconductor company projected second-quarter revenue of $4.17 billion to $4.53 billion and earnings per share of $1.21 to $1.47. Analysts on average had been looking for $4.14 billion and $1.24 per share, respectively, according to Visible Alpha.
Shares of Texas Instruments jumped over 5% in after-hours trading, after rising close to 4% in Wednesday’s session. They were down about 19% for 2025 through Wednesday’s close.
Texas Instruments reported first-quarter revenue of $4.07 billion, up 11% year-over-year and above the analyst consensus from Visible Alpha. Net income of $1.18 billion, or $1.28 per share, compared to $1.1 billion, or $1.20 per share, a year earlier, also topping Street estimates.
The results come after Citi analysts suggested earlier this month that analog chip firms like Texas Instruments could be positioned to outperform other types of semiconductor companies during an economic downturn.
Chipotle Lowers Sales Outlook as Consumer Spending Slows
45 minutes ago
Chipotle (CMG) reported first-quarter revenue that missed Wall Street’s expectations and lowered its full-year sales outlook, sending shares lower in extended trading Wednesday.
The fast-casual chain reported revenue of $2.88 billion, up 6.4% year-over-year but slightly below the analyst consensus from Visible Alpha. Net income of $396.8 million, or 29 cents per share, compared to $369.3 million, or 27 cents per share, a year earlier, topping Wall Street’s estimates. Comparable sales declined 0.4%, missing projections.
Chipotle said it now expects comparable sales growth for the full year in the low-single digit range, down from its previous estimate of low- to mid-single digit growth. Analysts had called for 3.1% growth.
CEO Scott Boatwright said the company’s results were “impacted by several headwinds including weather and a slowdown in consumer spending.”
On Monday, Chipotle said it plans to open its first location in Mexico by early 2026 and explore expanding to additional markets. The company operates about 3,600 locations in the U.S., 58 in Canada, and five in the Middle East.
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Chipotle shares were down about 2% in after-hours trading. The stock has lost about a fifth of its value so far in 2025 through Wednesday’s close, outpacing the decline of the S&P 500 over the period.
Why Software Stocks Face Less Risk From Tariffs
1 hr 36 min ago
Tech investors looking to reduce their risk in an unpredictable trade environment could turn to software names like Microsoft (MSFT) and Adobe (ADBE) over tech firms that depend more heavily on hardware sales, Morningstar analysts wrote in a note this week.
Microsoft, for instance, “has minimal risk exposure to retail, advertising spending, cyclical hardware, or physical supply chains,” they said. Similarly, they added Creative Cloud developer Adobe has a long-term competitive advantage over many other tech firms, pointing to its “wide moat” and minimal risk of disruption.
Shares of Microsoft rose 2% on Wednesday, but have lost about 11% since the start of the year. Adobe rose slightly today and is down more than 20% since the start of the year.
Smartphones, computers, and semiconductors are presently exempt from President Donald Trump’s “reciprocal” tariffs, but the administration has warned new tech tariffs could be coming in the next few months.
Morningstar analysts estimated that about 60% of smartphones and PCs are imported from China, which raises tariff-related risks for companies like Dell (DELL), HP (HPQ), and Apple (AAPL), amid trade tensions between the U.S. and China.
Watch These Bitcoin Levels as $100K in Striking Distance
1 hr 54 min ago
Bitcoin (BTCUSD) rose again Wednesday to bring the closely watched $100,000 mark back into striking distance.
The pioneer cryptocurrency, along with other risk-on assets, have rallied the past few days amid optimism that the White House could scale back its plans on tariffs after President Trump said the levy on China will be “substantially” below its current 145% level. Sentiment also received a boost after the president walked back recent rhetoric about firing Fed Chair Jerome Powell, shoring up confidence across financial markets that the central bank will retain its independence.
While Bitcoin is well below its record high of $109,000 set in January, it has risen about 25% from its 2025 low set in early April, as investors potentially turn to the cryptocurrency as an alternative to volatile stocks and a weakening U.S. dollar. Bitcoin was trading at $93,500 recently.
Bitcoin oscillated within a four-month falling wedge before breaking out above the pattern earlier this month. Importantly, the price staged a decisive close above the closely watched 200-day moving average in Tuesday’s trading session, though volumes were lackluster.
Meanwhile, the relative strength index (RSI) confirms bullish momentum with a reading above the 50 threshold, but remains below overbought levels, giving the price sufficient room to explore higher levels.
Investors should watch major overhead areas on Bitcoin’s chart around $100,000 and $107,000, while also monitoring key support levels near $85,000 and $76,000.
Read the full technical analysis piece here.
Duolingo Stock Jumps as it Gets a New Wall Street Bull
3 hr 8 min ago
Morgan Stanley analysts think Duolingo (DUOL) is speaking its language, setting a Street-high price target on the language learning company’s stock.
The analysts in a Wednesday note cited the company’s “rare combination of rapid user growth, strong and expanding margins, and clear Gen AI upside” as reasons initiating an “overweight” rating and $435 price target well above Visible Alpha’s mean around $383.
Morgan Stanley said it believes Duolingo can see a 26% five-year revenue compound annual growth rate because it has a large market of language learners left to target.
“We see DUOL as a best-in-class consumer internet asset,” Morgan Stanley analysts said in the report. “Its unique, gamified approach to learning allows it to combine the mobile gaming and language learning markets for a $220B [total addressable market], of which it has just [about] 0.5% share.”
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Analysts at Morgan Stanley also see potential for the app to earn more, as it currently monetizes at a lower rate than its competitors. Its Gen AI subscription tier Max, which is ad-free and allows users to role-play and have personalized explanations, plays a large role in the bank’s growth projections.
Shares of Duolingo were up about 10% at $369 in recent trading, pushing their gain over the past 12 months to nearly 70%.
Boston Scientific Surges on Strong Results
4 hr 1 min ago
Shares of Boston Scientific (BSX) rose sharply Wednesday after the firm posted first-quarter results that topped analysts’ estimates.
The Marlborough, Mass.-based medical technology firm reported adjusted earnings per share (EPS) of $0.75 on revenue of $4.66 billion. Analysts surveyed by Visible Alpha expected $0.67 and $4.57 billion, respectively.
For the full year, Boston Scientific sees adjusted EPS of $2.87 to $2.94 and sales up 15% to 17%, above Visible Alpha projections.
The firm also announced Wednesday that CFO Dan Brennan “has elected to retire following nearly 30 successful years with the company.” Brennan will leave his role at the end of June but will stay on as a senior advisor until October 2025.
Boston Scientific shares were up 4% in mid-afternoon trading, after rising as much as 8% early in the session.
Philip Morris Hits Record High on Rosy Profit Forecast
5 hr 16 min ago
Shares of Philip Morris International (PM) set an all-time high Wednesday after the tobacco giant topped first-quarter estimates and lifted its full-year profit outlook.
The maker of cigarettes and smoke-free tobacco products reported adjusted earnings per share (EPS) of $1.69 on revenue of $9.30 billion, both above Visible Alpha consensus. Led by surging sales of its Zyn nicotine pouches, Philip Morris said its smoke-free business generated 42% of its Q1 revenue.
Philip Morris lifted its full-year adjusted EPS profit projection to a range of $7.36 to $7.49 from $7.04 to $7.17.
“We remain confident in our ability to deliver superior results, despite an uncertain and volatile global economic environment, and now forecast double-digit adjusted diluted EPS growth in dollar terms for the full-year,” CEO Jacek Olczak said.
The conglomerate also said it has halted plans to sell or spin off its cigar business as part of its shift to a future focused on smokeless products, “following a thorough review and evaluation of strategic options taking the current environment into consideration.”
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Shares were up more than 2% in recent trading at around $168 after touching a record $171.63 earlier in the session. The stock has gained 40% since the start of the year and more than 70% over the past 12 months.
Intel Reportedly Plans to Cut Over 20% of Staff
6 hr 25 min ago
Intel (INTC) shares surged Wednesday as the struggling chipmaker reportedly could announce plans this week to reduce more than 20% of its staff.
The layoffs are part of Intel’s bid to streamline its operations, Bloomberg reported, citing a person with knowledge of the matter, and would mark the first major effort to do so since CEO Lip-Bu Tan took over running the company last month.
Intel declined to comment on the report.
Intel in August had announced a plan to lay off 15% of its workforce as part of a $10 billion cost-savings plan. The U.S. chipmaker is slated to report quarterly earnings after markets close on Thursday, also its first report since Tan took the helm.
Tan had replaced Pat Gelsinger, who retired late last year after failing to turn around the U.S. chipmaker. Under Gelsinger, Intel’s manufacturing business struggled to compete with global players like Taiwan Semiconductor Manufacturing Co. (TSM).
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Intel shares were up nearly 6% in midday trading Wednesday amid a broader rally for the chip sector. The stock has lost about 40% of its value in the past 12 months.
Why Gold Prices Are Plunging on Wednesday
7 hr 26 min ago
Gold prices tumbled on Wednesday after comments from President Trump on Federal Reserve independence and trade relations with China revived Wall Street’s risk appetite.
Gold futures were recently down 3.5% to $3,300 an ounce. Prices hit an all-time high of more than $3,500 early Tuesday morning as investors contemplated the possibility Trump could oust Federal Reserve Chair Jerome Powell, who he has criticized for not cutting interest rates and for saying tariffs are likely to increase consumer prices.
Gold prices have surged this year, especially in the weeks since Trump paused the sweeping tariffs he announced in early April. Gold’s status as a safe-haven asset untethered to a single economy—unlike other traditional safe bets like the dollar and Treasurys, over which the U.S. government can wield substantial influence—has made it an appealing destination for investors unnerved by the Trump administration.
Markets were relieved on Wednesday morning after Trump late Tuesday said he had no plans to fire Powell. That statement dispelled some of the fear running through markets since last Friday, when Trump’s economic advisor Kevin Hassett said the White House was exploring whether it was legally viable for the president to remove Powell before the end of his term.
Investors’ risk appetite was stoked further on Wednesday by signs the White House is looking to de-escalate its trade war with China. Stocks soared on Tuesday following reports Treasury Secretary Scott Bessent said the current state of U.S.-China trade—with both countries charging each other tariffs of more than 100%—was unsustainable, and that he expected tensions to cool soon.
Trump struck a similar tone later in the day when he said his administration would “be very good to China” in their negotiations. He predicted the final duty on Chinese goods entering America wouldn’t be “anywhere near” their current level.
Boeing Soars Following Narrower-Than-Expected Loss
8 hr 8 min ago
Boeing (BA) shares jumped Wednesday morning after the plane maker’s first-quarter adjusted loss came in much smaller than anticipated.
The company reported an adjusted loss per share of $0.49 on revenue of $19.50 billion. Analysts polled by Visible Alpha had expected an adjusted loss per share of $1.24 on revenue of $19.66 billion.
“Our company is moving in the right direction as we start to see improved operational performance across our businesses from our ongoing focus on safety and quality,” Boeing CEO Kelly Ortberg said. “We continue to execute our plan, are seeing early positive results and remain committed to making the fundamental changes needed to fully recover the company’s performance while navigating the current environment.”
Shares of Boeing were up 6% in recent trading. The stock is down about 2.5% since the start of 2025, outperforming the S&P 500 over that period.
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On Tuesday, Boeing said it would sell parts of its Digital Aviation Solutions business to software investment firm Thoma Bravo for $10.55 billion. The company said the all-cash deal will help improve its balance sheet and allow it to focus on its core businesses.
Boeing has been caught in the crossfire of the developing trade war between the U.S. and China, as its completed planes have reportedly started to come back to America after China told its domestic airlines not to accept deliveries.3
Boeing, which topped Q1 deliveries and production estimates earlier this month, said last year it expected Chinese airlines to generate demand for thousands of new planes over the next two decades as the air travel industry grows in the country.
The plane maker also still faces a looming trial in June as it works with the U.S. Department of Justice on a revised guilty plea to a charge of defrauding the federal government over fatal 737 Max crashes in 2018 and 2019 after a previous agreement was rejected by a judge last December.
GE Vernova Shares Jump as Results Top Estimates
8 hr 47 min ago
GE Vernova (GEV) shares surged Wednesday after the firm’s first-quarter results topped analysts’ estimates.
The energy-focused former General Electric division reported earnings per share (EPS) of $0.91 on revenue of $8.03 billion. Analysts polled by Visible Alpha expected $0.73 and $7.53 billion, respectively.
The company again affirmed its 2025 revenue outlook of $36 billion to $37 billion. GE Vernova said its “guidance includes the impact of tariffs as currently outlined and resulting inflation, which is estimated to be approximately $300-$400 million, net of mitigating actions.”
GE Vernova CEO Scott Strazik said the company is “well-positioned to navigate the current dynamic environment.”
Shares of GE Vernova jumped 8% in early trading. They entered the day down less than 1% in 2025, although they have more than doubled since GE Vernova become a standalone company after spinning off from GE Aerospace (GE) in early April 2024.
GE Vernova’s stock has received a number of upgrades and price target raises in its first year as a public company. Analysts have said the company should benefit from rising demand for products to generate renewable energy.
Shares of all three former GE segments sank earlier this month amid concerns over the impact of the tariff disputes and growing trade war between the U.S. and China.
Tesla Levels to Watch as Stock Jumps Despite Weak Earnings
9 hr 42 min ago
Tesla (TSLA) shares soared in premarket trading as CEO Elon Musk’s comments during the EV maker’s earnings call late Tuesday overshadowed quarterly results that came in well below Wall Street expectations.
Musk told investors and analysts that, starting next month, he will be allocating far more of his time to Tesla and less to running the Department of Government Efficiency. The comments came after Tesla reported bigger-than-expected declines in revenue and profit, as the company’s automotive business slumped amid lower volumes and sagging average sales prices.
Tesla shares have faced heavy selling pressure in recent months over concerns that Musk’s active involvement in the Trump administration has hurt the company’s brand and sales. The stock is down 41% since the start of the year as of Tuesday’s close, significantly underperforming the S&P 500’s 10% drop over the same period. Tesla shares were up more than 7% at around $256 ahead of the bell on Wednesday.
Since breaking down from an ascending broadening formation last month, Tesla shares have consolidated within a pennant pattern ahead of the company’s quarterly results.
While trading volume eased last week, share turnover has generally increased since the stock found a local bottom in early March, indicating that larger market participants had positioned ahead of time for a significant post-earnings move. With the expected pop at Wednesday’s open, the stage has been set for a potential breakout above the month-long pennant pattern.
Investors should monitor key overhead areas on Tesla’s chart around $315 and $384, while also watching support levels near $206 and $170.
Read the full technical analysis piece here.
Major Index Futures Point to Sharply Higher Open
10 hr 20 min ago
Futures tied to the Dow Jones Industrial Average were up 1.7%.
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S&P 500 futures rose 2.3%.
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Nasdaq 100 futures jumped 2.8%.
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