These Were the Big Movers in the S&P 500 on Thursday
30 minutes ago
Decliners
Supermicro CEO Charles Liang speaks during the HumanX AI Conference 2025 in in Las Vegas, on March 10, 2025.
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Shares of Ticketmaster parent Live Nation (LYV) fell 5.8%. The company remains the subject of an antitrust lawsuit filed last year by the U.S. Department of Justice, and federal officials accused the company earlier this week of failing to preserve text and chat messages relevant to the case.
Advancers
Intel (INTC) surged 14.6%, logging the S&P 500’s top daily performance, after the chipmaker announced former board member Lip-Bu Tan will become its new CEO. The move followed reports that TSMC (TSM) approached other chip firms about forming a joint venture to run Intel’s foundry business.
Dollar General (DG) reported better-than-expected sales for the fourth quarter, helping drive gains for shares of discount retailers. However, the company said a review of its store portfolio weighed on profitability and expressed caution about consumers’ spending capacity. Dollar General shares gained 6.1%, while shares of rival Dollar Tree (DLTR) were up 6.8%.
The spot price of gold popped to an all-time high, bolstered by concerns about tariffs and anticipation of potential interest-rate cuts by the Federal Reserve. Investors often turn to the metal as a safe haven in times of market uncertainty. The soaring price provided a boost for mining stocks including Newmont (NEM), the world’s largest gold producer, with shares climbing 4.6% Thursday.
-Michael Bromberg
S&P on Pace for Worst Week in Two Years
1 hr 34 min ago
The S&P 500 heads into the final trading session of the week on course to post its worst weekly loss since March 2023.
The benchmark index, which dropped into correction on Thursday, is down 4.3% so far this week. It is tracking to finish with weekly losses for the fourth straight week.
The Nasdaq Composite is also on pace for its fourth-consecutive weekly decline, and its fall has been even more precipitous. The tech-heavy index is down 4.9% for the week, its biggest weekly drop since September.
The Dow has lost 4.6% so far this week. If that holds, it would be the worst weekly performance since June 2022.
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So far in 2025, the Nasdaq has declined 10.4% as the AI-related optimism that boosted technology stocks has subsided, while the S&P 500 and the Dow are down 6.1% and 4.1%, respectively.
This Correction Has Been a Long Time Coming
2 hr 17 min ago
Some market watchers have been warning of a correction for a while. It had been 343 trading days since the S&P 500’s last 10% pullback, nearly twice the average time between corrections (173 days) since 1929.
Since 1928, the stock market has corrected 1.1 times a year on average, according to research from Ned Davis Research and LPL Financial. Severe corrections of 15% or more have occurred once every two years, and bear markets have hit once every three years, approximately.
The market’s last correction was a slow burn. The S&P 500 slid 10.3% between July 31 and October 27, 2023, as the Federal Reserve signaled it would need to keep interest rates higher for longer to return inflation to its 2% target. That correction was a long time coming, but it was short-lived. Stocks rebounded out of the correction on the next trading day, October 30, and have been trending higher ever since.
Stock market corrections tend to end more quickly than they come on. Since World War II, the average S&P 500 correction has taken five months to bottom and about four months to recover, according to Covenant Wealth Advisors. The average drawdown has been about 14%.
The current downturn has been swift in comparison. The S&P 500 closed at a record just three weeks ago, on February 19, as promising earnings reports offset creeping tariff uncertainty. Stocks have fallen precipitously since then as Trump has threatened, imposed, and delayed a slew of tariffs that some economists say could raise consumer prices and slow economic growth.
-Colin Laidley
Why Wall Street is Excited About Intel’s New CEO
2 hr 50 min ago
Analysts applauded the appointment of Lip-Bu Tan as Intel’s (INTC) new CEO.
Tan comes to Intel with a “solid track record of success” as the former CEO of Cadence Design Systems (CDNS), a semiconductor software company that has partnered with Intel, Bank of America analysts said, adding “we believe INTC has a greater opportunity to restructure/turn things around under his leadership.”
The analysts upgraded their rating for Intel’s stock to “neutral” from “underperform” after the announcement, and raised their price target to $25 from $19.
Deutsche Bank analysts echoed their sentiments, calling Tan’s appointment a “desirable outcome” for Intel, and highlighted his “extensive expertise in the semiconductor ecosystem.” The bank maintained a $23 price target and “hold” rating.
The change in leadership follows months of speculation Intel could sell parts of its business or form new partnerships, with Tan’s appointment potentially raising the chances of a strategic shift.
On Wednesday, Reuters reported Taiwan Semiconductor Manufacturing Company (TSM) approached several other chip firms including Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO) about forming a joint venture to run Intel’s foundry division. Such an arrangement “could aid INTC’s potential turnaround efforts under the incoming new CEO,” BofA analysts said.
The stock was up 15% to around $24 in late trading, leading gains on the S&P 500. Still, Intel shares have lost nearly half their value over the past 12 months.
-Andrew Kessel
Analysts Remain Bullish on Adobe’s AI Growth Potential
3 hr 30 min ago
Adobe (ADBE) shares tumbled after the company’s outlook came in lower than expected, but analysts said they they’re still bullish on the stock, pointing to its potential for AI-driven growth.
Jefferies analysts said they were surprised by the stock’s sharp decline after the results, which they felt were “positive enough to offset the negatives,” and added that “AI adoption is trending well,” with Adobe poised for AI-driven revenue gains. The analysts maintained a “buy” rating and $650 price target for the stock, suggesting over 70% upside from Thursday’s intraday level.
Bank of America analysts trimmed their price target to $528 from $605, but kept a “buy” rating, saying they expect Adobe is “on a path” to better AI monetization.The analysts highlighted that monthly active users of Photoshop and Lightroom generative AI both increased in the period.
Adobe reported annualized recurring revenue from AI of $125 million at the end of the quarter, with CEO Shantanu Narayen saying he expects that to double by the end of fiscal 2025, according to a transcript of the company’s earnings call provided by AlphaSense.
More AI updates are expected at the company’s Adobe Summit event next week, which one analyst previously said could be more informative than the quarterly results.
-Andrew Kessel
SentinelOne Falls After Outlook Misses Expectations
4 hr 25 min ago
SentinelOne (S) shares dropped after the company issued a revenue outlook that fell short of analysts’ expectations, even as adjusted earnings beat estimates.
The cybersecurity company’s revenue rose 29% year-over-year to $225.5 million, slightly above the analyst consensus from Visible Alpha. Adjusted earnings of $12.17 million, or 4 cents per share, swung from a loss of $6.62 million, or 2 cents per share, a year earlier and topped estimates.
However, SentinelOne’s revenue projections of $228 million in the fiscal first quarter and $1.007 billion to $1.012 billion in the full year both came in below what analysts had expected.
The soft outlook comes a week after fellow cybersecurity firm CrowdStrike (CRWD) issued a similarly disappointing forecast.
Shares of SentinelOne were down 4% in recent trading. The stock has fallen more than 17% so far in 2025.
-Andrew Kessel
Sunnova Plummets on Report of Possible Bankruptcy
5 hours ago
Sunnova Energy International (NOVA) traded at an all-time low on word the manufacturer of rooftop solar panels is working to restructure its debt, and that could include declaring bankruptcy.
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The Wall Street Journal reported that the company is preparing to meet with creditors to consider options to ease its $8.5 billion in debt. The paper added that could happen in or out of bankruptcy protection.
Citing people familiar with the matter, the Journal said Sunnova is working with the law firm of Baker Botts and investment bank JPMorgan to put together financial information needed to begin talks with lenders and bondholders about reducing its debt and addressing near-term bond maturities.
It explained that Sunnova’s most immediate concern was dealing with almost $1 billion worth of bonds and convertible notes due in 2026.
When reached by Investopedia about the report, a spokesperson for Sunnova had no comment.
The news came just three days after the company named Paul Mathews to be its new CEO, taking over immediately for founder and longtime CEO William “John” Berger, who stepped down amid Sunnova’s financial woes.
Shares of Sunnova Energy International were down 16% in recent trading at $0.31.
-Bill McColl
UiPath Stocks Sinks as Outlook Hit by Federal Spending Cuts
6 hr 23 min ago
Shares of UiPath (PATH) plunged to an all-time low Thursday after the maker of automated software gave weaker-than-expected guidance as it warned Trump administration spending cuts and changing economic conditions will hurt results.
The company sees current-quarter revenue of $330 million to $335 million, and fiscal 2026 revenue of $1.525 billion to $1.530 billion. Analysts surveyed by Visible Alpha were looking for $369.6 million and $1.59 billion, respectively.
Chief Operating and Financial Officer Ashim Gupta explained that UiPath was monitoring “many moving parts in the macroeconomic landscape, including the U.S. public sector and global economic conditions.” Gupta added that “while we remain optimistic about the long-term opportunity in the U.S. public sector, the ongoing transition has created short-term uncertainty for deal closures,” and that factored into the outlook.
For the fourth quarter, UiPath reported adjusted earnings per share (EPS) of $0.26 that exceeded Visible Alpha forecasts. Revenue that rose 4.5% year-over-year to $423.6 million came up just short of expectations.
Separately, UiPath announced it had purchased U.K.-based Peak, which offers an AI-based platform to help optimize product inventory and pricing for businesses. Terms of the deal were not disclosed.
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UiPath shares were down 15% at $10.05 in recent trading after earlier touching an all-time low $9.50. They have lost nearly 60% of their value over the past year.
-Bill McColl
American Eagle Warns Consumers are Cutting Spending
7 hr 12 min ago
American Eagle Outfitters (AEO) shares fell Thursday, a day after the maker of fashion clothes for teens and young adults warned that consumers are pulling back on their spending because of concerns about the future.
The company behind American Eagle and Aerie brands predicted full-year revenue will fall by a low-single-digit percent, while analysts surveyed by Visible Alpha were looking for a 3% increase. AEO explained that the guidance “reflects near-term headwinds in the consumer and macroeconomic operating environment.”
CEO Jay Schottenstein noted that the fiscal first quarter “is off to a slower start than expected, reflecting less robust demand and colder weather.” Schottenstein added that while the company anticipates improvement as the spring season gets under way, “we are also taking proactive steps to strengthen the top-line, manage inventory and reduce expenses.”
Schottenstein said on the earnings call with analysts that consumers “have the fear of the unknown,” according to a transcript provided by AlphaSense. He argued that it’s not just tariffs and inflation, but you “see the government cutting people off. They don’t know how that’s going to affect them. They see programs being cut. They don’t know how that’s going to affect them. … And when people don’t know what they don’t know, they get very conservative.”
In the fourth quarter, AEO reported earnings per share (EPS) of $0.54, ahead of Visible Alpha forecasts, and revenue of $1.60 billion, in line with estimates.
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Shares of American Eagle Outfitters slipped 2.5% to their lowest level since the spring of 2023.
-Bill McColl
Adobe Stock Plunges on Disappointing Outlook
8 hr 9 min ago
Adobe (ADBE) shares fell sharply Thursday morning after the company reported record quarterly revenue above analysts’ expectation but delivered an outlook that disappointed Wall Street.
The Creative Cloud developer’s revenue climbed 10% year-over-year to a record $5.71 billion, above the analyst consensus from Visible Alpha. Adjusted earnings of $2.22 billion, or $5.08 per share, rose from $2.05 billion, or $4.48 per share, a year earlier and topped estimates.
Adobe’s Digital Media arm, which includes Creative Cloud subscriptions, saw revenue of $4.23 billion, up 11% year-over-year and exceeding analysts’ projections.
CEO Shantanu Narayen said Adobe is “well-positioned to capitalize on the acceleration of the creative economy driven by AI.” The results come ahead of the company’s Adobe Summit event next week, with analysts saying they’ll be watching for updates on generative AI metrics.
Looking ahead, Adobe maintained its full-year revenue outlook of $23.3 billion to $23.55 billion, and adjusted earnings per share of $20.20 to $20.50, both below analyst consensus projections at the midpoint.
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Adobe shares were down 11% in recent trading, leading S&P 500 decliners. The stock has lost nearly a third of its value over the past 12 months.
-Andrew Kessel
Intel Levels to Watch as Stock Soars After New CEO Named
10 hr 14 min ago
Intel (INTC) shares soared in premarket trading Thursday after the company named former board member and chip industry veteran Lip-Bu Tan as its new CEO.
Tan, who is the former CEO of chip software company Cadence Design Systems (CDNS), will succeed interim Co-CEOs David Zinsner and Michelle Johnston Holthaus, who have shared the position since Pat Gelsinger retired in December. Tan will assume the roll next Tuesday.
Intel shares have lost more than half their value over the past 12 months, weighed down by the company’s inability to capture a greater share of the lucrative AI chip market and months of restructuring and deal rumors.
The stock was up 11% at around $23 in recent pre-market trading.
Source: TradingView.com.
Since gapping sharply lower in early August last year, Intel shares have remained mostly rangebound, potentially carving out a market bottom. More recently, the stock staged a short-lived rally to the closely followed 200-day moving average before retracing towards its trading floor of the past seven months.
Investors should watch crucial overhead areas on Intel’s chart around $22, $26, and $30, while also monitoring a major support level near $19.
Read the full technical analysis piece here.
-Timothy Smith
Major Stock Index Futures Lose Ground
10 hr 31 min ago
Futures tied to the Dow Jones Industrial Average were down 0.3%.
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S&P 500 futures were off 0.4%.
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Nasdaq 100 futures fell 0.5%.
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