Biggest S&P 500 Movers on Wednesday
2 hr 27 min ago
These were the biggest movers in the S&P 500 during Wednesday’s regular trading session.
Advancers
- Shares of defense contractor Leidos Holdings (LDOS) jumped 5.9%, gaining the most of any S&P 500 stock. A Politico report indicated that President Trump has communicated to members of his administration about Elon Musk stepping away from his government advisory role. That boosted investor sentiment around defense firms and other government contractors. Other defense stocks also gained ground. (Musk called the report “fake news.”)
- Caesars Entertainment (CZR) shares moved 5.8% higher. Analysts forecast a recovery on the Las Vegas Strip in March, linking February’s year-over-year declines in gaming wins to unique events in 2024, including an extra day in the month due to Leap Year and a traffic boost from the Super Bowl taking place in the city, which distorted comparisons this year. Even after Wednesday’s gain, Caesars stock is down more than 20% year-to-date and has lost nearly 40% over the past six months.
Ronda Churchill / Bloomberg / Getty Images
- Tesla (TSLA) shares started the session in negative territory as the electric vehicle maker reported fewer-than-expected deliveries in the first quarter, but the stock shifted gears after the report about Musk, its CEO, potentially distancing himself from the Department of Government Efficiency. Tesla shares ended with a daily gain of 5.3%.
Decliners
- The heaviest decline in the S&P 500 hit shares of chocolate maker Hershey (HSY), which slipped 3.3%. The stock has been trending downward for the past two weeks as the confectioner navigates the rising cost of cocoa and aims to source more cocoa beans directly. Last week, analysts at Piper Sandler affirmed their “underperform” rating on Hershey stock, noting that pricing pressure for the key input could persist into next year. The company also trimmed its 2025 profit guidance, pointing to soft retail sales momentum.
- Shares of tobacco giant Altria Group (MO) dropped 2.8% after Deutsche Bank downgraded the stock to “hold” from “buy.” Analysts pointed to concerns about the stock’s valuation, suggesting there could be limited room for additional gains following its strong performance this year. Altria also faces regulatory issues related to its e-vapor business, with the International Trade Commission determining that certain products infringe on patents owned by Juul Labs. Altria has reportedly halted sales of its NJOY Ace e-cigarettes following the decision.
- Agricultural equipment stocks came under pressure after analysts at Jefferies raised concerns about the potential impact of trade tensions on U.S. agricultural exports. Although aid to farmers has helped buoy agricultural markets during past disputes, analysts cautioned that such programs have historically done little to support machinery sales. Deere & Co. (DE) shares sank 1.6%.
Tariffs ‘Far Worse Than Expected’
2 hr 55 min ago
U.S. trade policy could evolve from what was revealed Tuesday, according to Northlight Asset Management chief investment officer Chris Zaccarelli, but this evening’s market action indicates that investors may not be willing to wait and see.
“The silver lining for investors could be that this is only a starting point for negotiations with other countries and ultimately tariff rates will come down across the board,” Zaccarelli wrote in emailed comments.
“But for now traders are shooting first and asking questions later.”The details of the tariffs as revealed Wednesday were “far worse than expected,” Zaccarelli wrote.
Comerica Sees Tariffs Weighing on Economic Growth This Year
3 hr 45 min ago
The Trump administration tariffs announced Wednesday will mean “less disposable spending power in consumer pockets,” said Comerica Bank Chief Economist Bill Adams in emailed comments, “weighing on economic growth and hiring in the rest of 2025.”
Comerica will mark its 2025 forecast for inflation-adjusted real GDP in its April forecast down to 1.7% from 2.5% in February, Adams said.
“Consumer and business sentiment could recover in the second half of 2025 if the national conversation turns away from tariffs and trade war and toward the tax cuts that the tariffs might help fund,” Adams wrote.
Bitcoin, Crypto Stocks Tumble After Tariff Announcement
4 hr 6 min ago
Bitcoin fell late Wednesday after President Donald Trump’s latest tariff announcement roiled markets.
The leading cryptocurrency recently changed hands a bit below $83,000, dropping from near $88,000 just before Trump unveiled the trade policies late this afternoon.
Trump formally announced reciprocal tariffs that hit a broad swath of countries, including a range of large U.S. trading partners. Stocks had risen during the day, but many were hard hit in after-hours action.
Risk assets in particular pulled back, with the “QQQ” ETF tracking the tech-focused Nasdaq 100 index retreating some 4%.
Several crypto-related stocks also fell in after-hours trading. Strategy (MSTR), the big bitcoin buyer formerly known as MicroStrategy, was recently down about 7%. Crypto exchange Coinbase Global (COIN) and bitcoin miner MARA Holdings (MARA) each fell about 7%, while trading platform Robinhood (HOOD) dropped more than 9%.
RH Plunges as Company Cites ‘Worst Housing Market in 50 Years’
4 hr 40 min ago
RH (RH) shares plummeted in extended trading Wednesday after the company issued a weaker-than-expected outlook and said it’s facing “the worst housing market in 50 years.”
The luxury home furnishings retailer said it expects revenue to grow 10% to 13% year-over-year in fiscal 2026, below the analyst consensus compiled by Visible Alpha. Its first-quarter growth projection of 12.5% to 13.5% also missed estimates.
RH shares lost nearly a quarter of their value in after-hours trading. As of Wednesday’s close, the stock was down about 37% for 2025.
“We expect a higher risk business environment this year due to the uncertainty caused by tariffs,” RH said in a statement. The company reported results as President Trump announced sweeping tariffs on goods from a wide range of countries Wednesday evening.
“The fact is, we’ve been operating in the worst housing market in almost 50 years,” the company added.
In its fiscal fourth quarter, RH reported revenue of $812.4 million, up 10% year-over-year but below the analyst consensus. Adjusted net income of $31.7 million, or $1.58 per share, was up from $14.3 million, or 72 cents per share, a year earlier, but also missed expectations.
Amazon, AppLovin Reportedly Bid to Buy TikTok
5 hr 19 min ago
Amazon (AMZN) and adtech firm AppLovin (APP) have become the latest firms to bid for TikTok, ahead of a U.S. ban of the app set to go into effect Saturday if no deal is reached with the app’s Chinese parent company.
Amazon submitted a letter outlining its bid to Vice President JD Vance and Commerce Secretary Howard Lutnick, according to a New York Times report Wednesday. However, officials involved in talks are not taking the offer seriously, the report said, citing people familiar with the bid.
Meanwhile, AppLovin has met with former Wynn Resorts (WYNN) CEO Steve Wynn about possible financial backing, according to a Wall Street Journal report Wednesday.
The offers come as Trump is meeting with Vance, Lutnick and other officials Wednesday about a potential deal led by Oracle (ORCL), according to reporting from the New York Times and others. Wedbush analysts told clients in a note Tuesday that they believe Oracle’s offer could potentially serve as “a linchpin to safeguarding US consumer data” on the platform.3
The analysts added they expect “some outline of a deal” could be announced before Friday night, but that an extension might also be issued to allow the parties involved to iron out details. If no deal for TikTok is reached, a U.S. ban of the app is set to go into effect Saturday, after President Trump signed an executive order in January delaying the action by 75 days.
Several others have also previously expressed interest in buying TikTok, including “Shark Tank” host Kevin O’Leary and Project Liberty founder Frank McCourt, who had submitted a proposal in January. Reddit (RDDT) co-founder Alexis Ohanian joined the bid in March.
Edgewise Therapeutics Stock Plunges on Drug Trial Results
6 hr 39 min ago
Edgewise Therapeutics (EWTX) shares tumbled more than 20% Wednesday after the developmental drug company issued the results of its latest clinical trial.
The company released the results of a Phase 2 trial for EDG-7500, a drug to treat Hypertrophic Cardiomyopathy (HCM), a condition that involves thickened heart muscles, which can make it more difficult for the heart to pump blood effectively.
Edgewise said the drug largely accomplished its goal of reducing left ventricular outflow tract gradient (LVOT-G)–a metric that measures how difficult it is for the heart to pump blood–“without meaningful changes in left ventricular ejection fraction (LVEF).”
However, the drug’s side effects have overshadowed the positive results. The most common side effects were dizziness and an infection in the upper respiratory tract, along with atrial fibrillation (AF), also known as an irregular heartbeat. However, “two participants experienced serious adverse events of AF requiring cardioversion,” or treatment to get a heart back to a normal rhythm.
The company said that the rate of patients who experienced AF was within the range of similar studies with other drugs. According to Investor’s Business Daily, RBC Capital Markets analyst Leonid Timashev wrote in a note, “The fact that two were serious is a complexity that could prompt the FDA to review this closely.”
Shares of Cytokinetics (CYTK), which is working on a competing drug, jumped 7% on the concerning results for Edgewise. Shares of Edgewise tumbled 23%.
Gold Levels to Watch as Precious Metal Keeps Hitting Records
7 hr 21 min ago
Gold (XAUUSD) hit another record high Wednesday as the precious metal extends a multi-month rally.
The commodity, which surged about 20% in the first quarter, remains well bid amid a flight to safety in response to uncertainty surrounding the Trump administration’s unpredictable tariff policy, which some analysts caution could reignite inflation and slow economic growth.
An intraday turnaround on Tuesday formed a shooting star, a candlestick pattern that signals a potential bearish reversal. It’s worth noting that a similar shooting star pattern emerged on gold’s chart in early February, preceding a month-long consolidation phase before the precious metal resumed its uptrend.
Meanwhile, the relative strength index (RSI) confirms bullish price momentum with a reading above the 70 threshold. However, the indicator sits in overbought territory, raising the possibility for short-term profit-taking.
Bars pattern analysis projects a consolidation phase before the commodity resumes its uptrend later this month, potentially moving to around $3,395 by late May. Investors should watch crucial support levels on gold’s chart around $3,048, $2,953 and $2,858.
Read the full technical analysis piece here.
BlackBerry Sinks on Weaker-Than-Expected Outlook
7 hr 57 min ago
BlackBerry (BB) shares tumbled Wednesday after the company issued revenue forecasts that fell short of analysts’ expectations.
The Canadian technology company projected fiscal 2026 revenue of $504 million to $534 million, below the Visible Alpha consensus of $567.3 million.Its current-quarter revenue estimate of $107 million to $115 million also fell short of analysts’ projections.
BlackBerry sees Secure Communications unit revenue falling to a range of $230 million to $240 million in fiscal 2026 from $272.6 million the prior year. Analysts had expected $277 million.
For its fiscal 2025 fourth quarter, BlackBerry reported adjusted earnings per share (EPS) of 3 cents on revenue that fell 7% year-over-year to $141.7 million. Both figures beat analysts’ expectations.
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Shares of BlackBerry, which once dominated the smartphone market, were down 10% in late trading Wednesday. The stock has lost about 45% of its value since posting a 52-week high in mid-February, but is still up 20% over the past 12 months.
DJT Falls Amid Worries Trump Trust Could Sell Shares
8 hr 30 min ago
Trump Media & Technology Group’s (DJT) stock slid Wednesday after a regulatory filing raised worries company insiders could sell shares.
The Truth Social operator said it could sell nearly 8.4 million shares of stock thanks to existing share warrants related to its March 2024 IPO, according to a filing with the U.S. Securities and Exchange Commission. TMTG also said some 134 million shares could be sold “from time to time” by insiders, including more than 114 million held by the Donald J. Trump Revocable Trust.
Shares of TMTG were down more than 6% in recent trading. The stock has lost more than half its value since Trump took office in January.
In a statement, TMTG called the filing “routine” and said the Trump trust has no plans to sell. That echoes a Truth Social post from Trump in November in which he said, “I HAVE NO INTENTION OF SELLING.”
The White House and Trump Organization did not immediately respond to requests for comment.
DoorDash Stock Surges on Domino’s Pizza Partnership
9 hr 19 min ago
DoorDash (DASH) shares jumped Wednesday after the delivery platform announced a new partnership with Domino’s Pizza (DPZ).
DoorDash users will be able to order Domino’s throughout the U.S. starting in May, with a rollout in Canada expected later this year, the companies said. Since July 2023, Domino’s has had an exclusive partnership with Uber (UBER) Eats, a deal that ends May 1.
“The ability to connect seamlessly with DoorDash customers means more sales for Domino’s stores, while efficiently leveraging our brand’s robust delivery network,” Domino’s COO Joe Jordan said. “Tapping into incremental customers, particularly in suburban and rural markets, is a meaningful opportunity for Domino’s, as our brand continues to open stores nationwide.”
In the pizza giant’s last earnings call in February, CEO Russell Weiner said that Uber accounted for 3% of its $19.12 billion in sales for 2024, according to an AlphaSense transcript. Jordan on Wednesday repeated Domino’s previously stated belief that third-party “aggregator” services like DoorDash could eventually make up $1 billion in annual sales.
DoorDash stock was among the biggest gainers in the S&P 500 Wednesday afternoon, with shares up nearly 5%, while Domino’s shares inched higher.
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DoorDash shares have gained 40% over the past 12 months, far outpacing the performance of the S&P 500 over the period.
Tesla Jumps on Report Musk May Soon Leave Government Role
10 hr 25 min ago
Tesla’s stock turned positive Wednesday as a report suggested that CEO Elon Musk might be stepping back from some of his government work.
Shares of Tesla (TSLA) recently were up 5%, climbing back into the green after the company’s latest quarterly deliveries news pulled them lower in morning trading. Part of the reason may be a report from Politico saying that President Trump has been telling people Musk could soon “return to his businesses and take on a supporting role” politically.
Politico‘s report cited “three Trump insiders who were granted anonymity to describe the evolving relationship.”
Musk has been a particularly active member of Trump’s second administration, leading the efforts of the Department of Government Efficiency and, more recently, pouring millions of dollars into an ultimately unsuccessful effort to elect a Republican candidate to Wisconsin’s Supreme Court.
Musk’s close and constant work with Trump, which included the president promoting Tesla’s vehicles at the White House, had attracted its share of detractors, including those of a partisan nature but also investors concerned that he wasn’t spending enough time managing Tesla at a challenging time for the auto business and signs that its car business is slowing.
Last week Musk said his xAI artificial-intelligence company had acquired the social-media network X that he also owns.
Newsmax Plummets After Wild Post-IPO Run-Up
11 hr 18 min ago
Newsmax’s wild ride continues.
Shares of the media company were recently off some 45% to $128, plummeting to start their third day of trading. Newsmax (NMAX) went public Monday—its IPO price was $10, and it opened at $14—to kick off a dramatic upward run. The stock finished yesterday at $233 after slipping from intraday highs of $265.
Investors’ eagerness to get a piece of the action has been hard to miss, outstripping the enthusiasm for another recent high-profile IPO. Nvidia-backed (NVDA) data center company CoreWeave (CRWV) finished Friday, its first day of trading, right at its IPO price—but it raced higher Tuesday, ending the day above $52. The stock was up about 5% at $55 in recent trading.
Until this morning, investors had largely been willing to place bets on Newsmax, a company that hasn’t yet turned a profit. Newsmax, as of yesterday’s close, had a market capitalization higher than that of Fox Corp. (FOX).
“I think we’re becoming very competitive” with Fox News, CEO Chris Ruddy said Monday on CNBC, describing Newsmax as “conservative, with an independent news mission.
Uncertainty Abounds Ahead of ‘Liberation Day’ Tariffs
12 hr 24 min ago
The uncertainty surrounding President Donald Trump’s trade wars grew thicker in advance of his scheduled announcement of “reciprocal” tariffs against U.S. trading partners.
Ahead of Trump’s scheduled tariff announcement, which he has dubbed “Liberation Day,” key questions about the planned round of tariffs remained unanswered, including which countries or products would be targeted and how high the new tariffs would be. According to a report in The Washington Post, citing “three people familiar with the matter,” the tariffs could be as high as 20% and applied to nearly all products.
On Monday, Trump repeated comments that the new tariffs would be “reciprocal,” imposed on countries that have their own trade barriers to U.S. exports. They would be lower than the tariffs of the targeted nations, he said, indicating a more tailored approach than a broad 20% tariff.
Mandel Ngan / AFP / Getty Images
In recent weeks, financial markets have been whipsawed by successive reports about Trump’s intentions. Markets tanked on speculation that the tariffs would be stiffer and wider-ranging, and they recovered when some reports suggested the import taxes would be on the lenient side and applied more narrowly. The new tariffs would be on top of those already imposed against China, Canada, and Mexico, as well as tariffs on steel and aluminum and a newly announced 25% tariff on imported cars.
“April 2 has long been circled on investors’ calendars,” wrote Morgan Stanley analysts. “Little is known about what this policy will entail. This isn’t exactly reassuring to investors we talk to, who are perplexed by the dynamic of tariff announcements, negotiations, delays, and shifting levels of implementation for Mexico, Canada, China, and some key products. ..Given so many variables in play, the plausible paths are myriad.”
Trump has said the tariffs are meant to protect American industry from competition, encourage companies to build factories in the U.S., raise revenue to run the government, and negotiate better trade deals with foreign countries. Some trade experts said the tariffs will likely raise the cost of living for American consumers and risk pushing the economy into a recession.
Read the full article here.
J&J Levels to Watch After Stock Plunged Tuesday
13 hr 11 min ago
Johnson & Johnson (JNJ) shares moved higher in early trading Wednesday after tumbling yesterday following news the health care giant failed to reach a settlement in liability cases related to its baby powder and other talc products.
The stock was up about 1% at around $155 in early trading this morning after falling nearly 8% to lead S&P 500 decliners on Tuesday, Despite the steep drop, Johnson & Johnson shares had gained 6% so far this year as of Tuesday’s close, handily outpacing the S&P 500’s 4% decline over the same period.
Since setting their record high in April 2022, Johnson & Johnson shares have traded lower within an orderly descending channel, tagging the pattern’s upper and lower trendlines on several occasions since that time.
More recently, the Dow component ran into selling pressure near the descending channel’s upper trendline, with the price falling below both the 50- and 200-week moving averages in Tuesday’s trading session.
Tuesday’s drop also coincided with the relative strength index (RSI) plunging below the 50 threshold, signaling accelerating selling momentum.
Investors should watch key support levels on Johnson & Johnson’s chart around $147 and $137, while also monitoring major resistance levels near $167 and $180.
Read the full technical analysis piece here.
Tesla Stock Slides After Q1 Deliveries Disappoint
13 hr 36 min ago
Tesla (TSLA) shares fell on premarket trading after the electric vehicle maker’s first-quarter deliveries came in below analysts’ expectations.
Tesla said it delivered 336,681 vehicles and produced 362,615 in the quarter, down from 386,810 deliveries and 433,371 vehicles produced a year ago. Production fell year-over-year as some Tesla facilities shifted to producing the refreshed Model Y, which was released earlier this year, the company said.
Analysts had expected 393,000 deliveries and 462,160 vehicles produced, according to Visible Alpha. The deliveries estimate had fallen 14% since Tesla reported fourth-quarter results in January.
Shares of the EV maker, which have lost a third of their value in 2025 through Tuesday’s close, were down nearly 5% shortly before the opening bell on Wednesday.
In the fourth quarter, Tesla’s deliveries and production also fell short of estimates, with the EV maker reporting its first annual deliveries decline. Later in January, Tesla said it expected deliveries to return to growth in 2025.
Andrew Harnik / Getty Images
Tesla stock has slumped this year over concerns that CEO Elon Musk’s involvement in the Trump administration is negatively affecting the company. Some of Tesla’s biggest bulls on Wall Street have called for Musk to divide his time more evenly between his government work and his companies, including Tesla.
Tesla dealerships have been the subject of protests and vandalism in recent weeks, with reports indicating sales and registrations have fallen in China and a number of countries across Europe in the opening months of 2025.
Tesla said it would release its first-quarter results after the bell on April 22.
Fintech Firm nCino Tumbles on Weak Results, Outlook
14 hr 12 min ago
Shares of cloud-based financial software maker nCino (NCNO) lost a third of their value in premarket trading Wednesday, a day after the company’s quarterly results disappointed.
For its fiscal 2025 fourth quarter, nCino reported $141.4 million in revenue, up 14% year-over-year and in line with Visible Alpha estimates. However, it reported a loss per share of $0.16, four times what analysts had expected, and adjusted earnings per share (EPS) of $0.12, one-third below the consensus forecast.
For the current quarter, nCino forecasts revenue of $138.75 million to $140.75 million and adjusted EPS of $0.15 to $0.16. For fiscal 2026, the company expects revenue of $574.5 million to $578.5 million and adjusted EPS of $0.66 to $0.69. All came in below consensus estimates.
Shares of the software maker were down 34% in recent premarket trading to around $18.50, which would represent a new all-time low.
Futures Point to Lower Open for Major Stock Indexes
14 hr 50 min ago
Futures tied to the Dow Jones Industrial Average were down 0.5%.
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S&P 500 futures were off 0.7%.
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Nasdaq 100 futures dropped 0.9%.
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