These Were the Big S&P 500 Movers on Wednesday
4 hr 26 min ago
Advancers
Tesla (TSLA) shares moved higher for the second straight session, jumping 7.6% to notch the strongest performance of any S&P 500 stock on Wednesday. Tesla received a show of support on Tuesday from President Donald Trump, who held a promotional event for the electric vehicle (EV) maker at the White House. However, analysts at Evercore and Guggenheim lowered their price targets on Tesla stock, citing concerns about the company’s self-driving ambitions and vehicle delivery capacity.
The softer-than-expected CPI report helped boost a variety of stocks in the technology sector, as lower inflation bodes well for reduced borrowing costs, which can help tech companies fund their growth plans. In addition, reports of a proposal by Taiwan Semiconductor Manufacturing Co. (TSM) to form a joint venture with U.S. chipmakers to operate Intel (INTC) foundries provided a lift to the semiconductor industry. Shares of memory and data storage provider Micron Technology (MU) advanced 7.4%, while shares of AI chip behemoth Nvidia (NVDA) gained 6.4%.
Palantir Technologies (PLTR) stock jumped 7.2% after the data analytics software firm revealed a slate of new customers, including drugstore operator Walgreens (WBA) and brewing giant Heineken. Those companies will join existing Palantir clients at the company’s artificial intelligence (AI) event on Thursday, which is intended to showcase how customers leverage Palantir’s AI platform.
Decliners
Discount retailers saw their share prices come under pressure on Wednesday. Dollar Tree (DLTR) shares fell 5.7%, posting the steepest drop in the S&P 500. Wells Fargo analysts recently slashed their price target on Dollar Tree stock, noting that the company faces pressure related to macroeconomic uncertainty, potential tariff effects, and proposals to cut food assistance for low-income families under the Supplemental Nutrition Assistance Program (SNAP). Shares of Target (TGT) and Dollar General (DG) fell 4.9% and 4.8%, respectively.
Shares of alcoholic beverage maker Brown-Forman (BF.B) tumbled 5.1%. The European Union’s decision to levy 50% tariffs on whiskey imports from the U.S., which will take effect on April 1, presents a sales challenge in a key market for the Jack Daniel’s maker.
United Airlines (UAL) shares lost 4.7% after the carrier said it would reduce capacity later in 2025 and proceed with the early retirement of 21 aircraft. The moves come after rival Delta Air Lines (DAL) cut its guidance, citing softness in travel demand.
-Michael Bromberg
Investors Think Elon Musk’s Political Activity is Hurting Tesla
4 hr 43 min ago
Most investors believe Tesla (TSLA) CEO Elon Musk’s political activities are hurting the company, according to a survey by Morgan Stanley.
Some 85% of those surveyed said Musk’s political involvement is having a negative or extremely negative effect on the company’s business fundamentals.The survey window began Tuesday and drew 245 responses over a 17-hour span, Morgan Stanley said, noting respondents were not necessarily Tesla shareholders.
Donald Trump and Elon Musk speak to the press as they sit in a Tesla vehicle on the South Portico of the White House on Tuesday.
Mandel Ngan / AFP / Getty Images
President Trump said on social media earlier this week he planned to buy a Tesla as a show of support for Musk, who leads the administration’s Department of Government Efficiency (DOGE). He reportedly followed through on that pledge, bringing an array of Tesla vehicles to the White House to make his choice with Musk on hand Tuesday.
Shares of Tesla rose more than 7% Wednesday as tech stocks rallied, but remained on pace to fall for the eighth week in a row since Trump took office and Musk began leading DOGE. The stock has lost all its post-election share gains and down nearly 50% from its record high late last year.
-Andrew Kessel
Intel Names New CEO, Stock Soars in Extended Trading
5 hr 1 min ago
Intel (INTC) named Lip-Bu Tan its new CEO, sending the embattled chipmaker’s stock soaring in after-hours trading Wednesday.
Tan, who is set to take the helm of Intel as of next Tuesday, is the former CEO of Cadence Design Systems (CDNS), a semiconductor software company that counts Intel among its partners.
Tan will succeed interim Co-CEOs David Zinsner and Michelle Johnston Holthaus, who have shared the position since Pat Gelsinger retired in December after struggling to revive the fortunes of the once-dominant chipmaker. The pair will retain their roles as chief financial officer and CEO of Intel Products, respectively.
Shares of Intel were up 11% in recent after-hours trading. They’ve lost about half their value in the past 12 months through Wednesday’s close as the company has implemented a restructuring plan and been the subject of takeover speculation.
-Andrew Kessel
Jack Daniel’s Maker Brown-Forman Slides on Tariff Concerns
5 hr 1 min ago
Brown-Forman (BF.A; BF.B), the maker of Jack Daniel’s whiskey and other alcoholic beverages, was among the S&P 500’s biggest decliners Wednesday as the European Union (EU) hit back with retaliatory tariffs after 25% U.S. levies on steel and aluminum went into effect.
Products on display at the Visitor Center of the Jack Daniel’s Distillery in Lynchburg, Tennessee.
Ron Buskirk /UCG / Universal Images Group / Getty Images
The EU said that starting April 1, “tariffs will be applied on products ranging from boats to bourbon to motorbikes.” The moves are in response to U.S. tariffs that went into effect at midnight Wednesday.
Canada, which also implemented countertariffs Wednesday, last week imposed retaliatory levies on American goods—including spirits such as those produced by Brown-Forman—”in response to unjustified U.S. tariffs.”
Shares of Brown-Forman fell 5% Wednesday. They have lost about 10% of their value over the last two sessions.
-Aaron Rennie
Apple Levels to Watch as Sell-Off Continues
6 hr 4 min ago
Apple (AAPL) shares remained under pressure on Wednesday, bucking a broader rally for tech stocks, amid concerns about the delayed rollout of Siri AI features and the impact of tariffs.
After setting a record high in late December, Apple shares consolidated within a symmetrical triangle before staging a decisive breakdown below the pattern and closely watched 200-day moving average this week. Importantly, above-average volume has accompanied the move lower, indicating selling conviction by larger market participants.
Source: TradingView.com.
Entering Wednesday’s session, the $219 level was an area where the stock was expected to find support. Apple shares fell 1.8% to close at just below $217.
Investors should monitor key support areas around $207 and $197. If an upward trend resumes, the stock could encounter resistance at $237 and $247.
Read the full technical analysis piece here.
-Timothy Smith
Quantum Computing Stocks Soar on D-Wave Breakthrough
6 hr 26 min ago
D-Wave Quantum (QBTS) shares popped Wednesday, along with other quantum computing stocks, after the company claimed to achieve a breakthrough.
In an article published in the journal Science, D-Wave said its quantum computer “outperformed one of the world’s most powerful classical supercomputers” at solving complex simulation problems.
D-Wave shares gained nearly 9%, while shares of fellow quantum computing firms Rigetti Computing (RGTI) and Quantum Computing (QUBT) soared 11% and 15%, respectively.
Quantum computing developments have been in the spotlight in recent months, with Google parent Alphabet (GOOGL) unveiling a quantum chip known as Willow in December. Microsoft (MSFT) followed suit last month with its own quantum chip, Majorana 1.
However, Nvidia (NVDA) CEO Jensen Huang recently cautioned it could be 15 to 30 years before there are “very useful quantum computers.” Meta’s (META) Mark Zuckerberg has expressed similar concerns.
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Despite a tough start to the year, D-Wave shares have nearly tripled in value over the past 12 months. Rigetti and Quantum Computing shares more than quadrupled in value over the same period.
-Andrew Kessel
iRobot Stock Nosedives as Roomba Starts Strategic Review
7 hr 48 min ago
Shares of iRobot Corp. (IRBT) plunged Wednesday after the company behind the Roomba robotic vacuum warned about its “ability to continue as a going concern” and started a strategic review.
The company also scrapped its 2025 outlook and fourth-quarter earnings call.
“As will be noted in iRobot’s Annual Report on Form 10-K for the year ended December 28, 2024 (10-K), there can be no assurance that the new product launches will be successful due to potential factors, including, but not limited to consumer demand, competition, macroeconomic conditions, and tariff policies,” iRobot said Wednesday.
“Given these uncertainties and the implication they may have on the Company’s financials, there is substantial doubt about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of the issuance of its consolidated 2024 financial statements,” the company added.
The iRobot headquarters in Bedford, Massachusetts.
Sophie Park / Bloomberg / Getty Images
The sell-off came as the company’s loss widened and sales dropped in the fourth quarter. The company reported a fourth-quarter adjusted loss per share (EPS) of $2.06, versus the $1.82 loss the same period the previous year. Fourth quarter revenue was $172 million, down from $307.5 million the same period last year. Both numbers were above estimates.
iRobot shares were down 35% at $4.09 in late trading. The stock has lost 60% of its value over the past 12 months.
-Nisha Gopalan
As Tech Rallies, Apple Lags on Siri AI Delay, Tariff Concerns
8 hr 22 min ago
While other tech stocks rallied, Apple (AAPL) shares slid Wednesday, extending a string of recent losses on concerns over delayed Siri features and the impact of tariffs.
Apple shares were down about 2% in mid-afternoon trading, with the stock on pace to fall for the third-straight session after Apple on Friday reportedly pushed back the launch of certain Apple Intelligence features for Siri until 2026.
Delaying a more advanced Siri could leave customers with fewer reasons to upgrade to the latest iPhone, Morgan Stanley analysts said Wednesday.
The analysts now project iPhone sales to be flat in 2025 at 230 million units and grow less in 2026 than previously expected. This comes after Citi cut its iPhone sales estimates earlier this week.
Morgan Stanley also highlighted concerns about the impact of the Trump administration’s tariffs on goods from China. Apple could face higher costs to mitigate the tariffs, and it’s unlikely the company will be able to offset those costs without exemptions, Morgan Stanley said.
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Apple shares are down 17% from their all-time high in December but still up about 25% over the past 12 months.
-Andrew Kessel
Inflation Worries Hit Americans’ Confidence About Retirement
9 hr 34 min ago
As a record number of Americans near retirement age in 2025, inflation is squeezing confidence in their retirement plans.
While two-thirds of Americans in their retirement-planning years say they are confident about their retirement prospects, that number is down seven points from a year ago, amid worries about rising costs of living, according to a recent Fidelity study.
More than two-thirds, or 70%, of current retirees surveyed said rising costs of living have eaten into their savings, with health care representing one of the largest sources of expenses in retirement. Most pre-retirees said they are concerned about health care costs, with the average American expected to spend upward of $165,000 on health care during retirement, up 5% from a year ago.
Americans not yet in retirement expect they may need to be more self-reliant when it comes to retirement income compared to current retirees, amid worries about whether Social Security funds could run out. Over 60% of pre-retirees are uncertain their retirement savings will last, according to Fidelity.
Looking back, two-thirds of retirees said they would advise others to start saving for retirement as soon as possible—even in small increments. If they could go back in time, almost 40% of today’s retirees say they would start saving sooner, and about a fifth say they would’ve prepared for rising costs and inflation, according to the study.
-Jordyn Bradley
Deutsche Bank Says Robinhood a ‘Good Buying Opportunity’
10 hr 35 min ago
Robinhood Markets (HOOD) shares jumped Wednesday after Deutsche Bank called the online trading platform a “good buying opportunity” after the stock’s recent sell-off.
Deutsche Bank analyst Brian Bedell said Robinhood’s performance in February showed “promising signs, with continued strong momentum in trading volumes across equities and options.” Bedell added that the month brought “robust traction” for new products activity, a faster sales ramp-up in futures, along with strong deposits and growth in margin balances.
Bedell affirmed the bank’s “buy” rating, although he lowered the price target to $61 from $75 “on lower estimates and a modestly lower valuation assessment.” However, he advised clients that with the stock price down 42% from recent highs, it was an excellent time to pick up shares, since “we see ~60% upside over the next 12 months to our revised price target.”
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Robinhood shares were up nearly 7% at around $39 in early-afternoon trading. The stock is down about 40% from its all-time high in February but has still more than doubled from year-ago levels.
-Bill McColl
Goldman Sachs Cuts S&P 500 Forecast
10 hr 59 min ago
Goldman Sachs analysts have lowered their forecast for the S&P 500 amid uncertainty around the Trump administration’s tariffs and the US economy—and following a broad sell-off to start the week.
The analysts cut their projection for the benchmark index to hit 6,200 by year’s end, down from 6,500 previously. That would amount to growth of just 5% from the end of 2024, rather than the 10.5% growth Goldman had been forecasting.
The S&P 500 was at 5,595 in midday trading Wednesday.
“The proximate causes of the market decline are the jump in policy uncertainty largely related to tariffs, concerns about the economic growth outlook, and a positioning unwind, especially among hedge funds,” the analysts wrote in a Wednesday note.
Dragging the S&P 500 lower in recent weeks has been the Magnificent Seven, which Goldman analysts dubbed the “Maleficent 7” given their recent performance. All seven stocks are down from their 52-weeks highs, and were collectively off about 14% over the last three weeks. The so-called S&P 493, without the impact of the Mag 7, is down just 1% over the same time, the analysts said.
The analysts said they lowered their forecast as they now expect corporate earnings and gross domestic product to grow slower than their previous projections as a result of “a combination of the tax-like effect of rising tariffs, elevated uncertainty, and tightening financial conditions.”
Amid the heightened market uncertainty, the analysts recommended owning stocks “insulated from the major thematic drivers of ongoing market volatility.”
-Aaron McDade
Novo Nordisk Slides as Roche Targets Weight-Loss Market
12 hr 12 min ago
Roche is stepping into the hot weight-loss drug market currently dominated by Novo Nordisk (NVO) and Eli Lilly (LLY).
The Swiss pharmaceutical company has entered into an exclusive agreement with Denmark-based biotech firm Zealand Pharma to work together on developing and commercializing treatments for obese and overweight patients.
The deal calls for the companies to produce drugs using Zealand’s experimental injectable amylin analog, petrelintide, as both a standalone and together with Roche’s CT-388. Roche’s treatment is also an injectable under study that contains GLP-1 receptor agonists, the same key ingredients used in Novo Nordisk’s Ozempic and Wegovy and Lilly’s Mounjaro and Zepbound.
Roche will pay Zealand as much as $5.3 billion: upfront cash payments of $1.65 billion, plus up to $1.2 billion in development milestones and another $2.4 billion in sales-based milestones. Roche will receive $350 million from Zealand for any petrelintide/CT-388 fixed-dose combination product or next-generation petrelintide combination products.
Roche CEO Teresa Graham said the drugmaker hopes development of these medicines “will provide people living with obesity and related comorbidities a new treatment option.”
The news sent U.S.-listed shares of Novo Nordisk 5% lower, while Eli Lilly stock lost about 0.5%.
-Bill McColl
What Analysts Think of Adobe Ahead of Earnings
12 hr 58 min ago
Adobe (ADBE) is scheduled to report fiscal 2025 first-quarter results after the closing bell Wednesday, with analysts mostly bullish leading into the report and next week’s Adobe Summit.
Of the 17 analysts covering the stock tracked by Visible Alpha, 10 have issued “buy” or equivalent ratings, with six giving a “hold” rating and one a “sell” rating. Their consensus price target is around $551. Adobe shares were up 0.9% at $437.50 in early trading Wednesday.
The Creative Cloud developer is expected to report adjusted earnings per share (EPS) that rose 11% year-over-year to $4.97 on revenue that rose 9% to $5.66 billion.3
The results come ahead of next week’s Adobe Summit, which analysts at RBC Capital Markets said could be the more informative event, particularly in terms of updates on generative artificial intelligence (AI) metrics. The analysts lowered their price target to $550 from $590 but maintained an “outperform” rating.
Firefly, Adobe’s generative AI platform, released a video model in February, which Stifel analysts called “a step forward in firming up its monetization strategy.” Stifel affirmed a $600 price target and “buy” rating.
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Shares of Adobe have shed about a quarter of their value over the past 12 months, significantly lagging the performance of the Nasdaq Composite.
-Andrew Kessel
Intel Jumps as TSMC Eyes Foundry Stake With Nvidia, Others
14 hr 10 min ago
Shares of Intel (INTC) jumped in premarket trading Wednesday following a report that Taiwan Semiconductor Manufacturing Company (TSM) has approached U.S. chip designers Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO) about forming a joint venture to own and run the U.S. chipmaker’s foundry division.
“Qualcomm (QCOM) has also been pitched by TSMC, according to one of the sources and a separate source,” said the report, which cited “four sources familiar with the matter.”
According to Reuters, TSMC, the world’s largest contract chipmaker, has floated running the foundry division, which makes custom chips for other companies. The report, which noted that the talks are at an early stage, said TSMC wouldn’t own more than 50% of the JV.
Reuters added that the Trump administration has asked TSMC for help in turning around Intel. Intel’s foundry business has been in the spotlight as a potential beneficiary of the Trump administration’s stated goal of ensuring artificial intelligence chips are designed and manufactured domestically.
Intel, TSMC, Nvidia, AMD, Broadcom, and Qualcomm didn’t immediately respond to Investopedia requests for comment.
Intel shares were up nearly 6% in premarket trading. The stock has lost about 55% of its value in the past 12 months entering Wednesday.
Nvidia shares were up about 4.5% this morning, while Broadcom and AMD were both up about 3% and TSM added 2%.
-Nisha Gopalan
Supermicro Levels to Watch as Stock’s Wild Ride Continues
14 hr 39 min ago
Super Micro Computer (SMCI) shares are gaining ground this morning after surging 11% yesterday as investors sought buying opportunities in leading AI stocks after a dramatic sell-off to start the week.
After breaking out from a falling wedge pattern in early February, Supermicro shares staged a strong rally above the 200-day moving average (MA) before retracing to the 50-day MA.
Source: TradingView.com.
More recently, the stock broke out from a pennant pattern in Tuesday’s trading session on the highest volume in a week, potentially setting the stage for further gains.
Meanwhile, the relative strength index (RSI) confirms improving price momentum, with the indicator moving back above the key 50 threshold.
Investors should monitor key overhead areas on Supermicro’s chart near $48, $63, and $75, while also eyeing crucial support levels near $38 and $26.
Supermicro shares were up nearly 4% at around $42.50 in recent premarket trading.
Read the full technical analysis piece here.
-Timothy Smith
Major Stock Index Futures Rise
14 hr 59 min ago
Futures tied to the Dow Jones Industrial Average were up 0.6%.
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S&P 500 futures were up 0.8%.
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Nasdaq 100 futures rose 0.9%.
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