St🏅ock Indexes Wrap: Strong Jobs Report Weighs on Commodities, Consumers, Homebuilders

The Dow

3M (MMM) rose 2.7% 🐟after being upgraded to “buy” fr𓃲om “neutral” by Bank of America. 

Apple (AAPL) added 1.2% ahead of its 澳洲幸运5官ꦜ方开奖结果体彩网:Worldwide Developer Conference on Monday when it's🐼 expected to unveil several new AI features. 

Consumer stocks weighed on the index, including Walmart (WMT), down 1.9%, and McDonald’s (MCD), down 1.8%.

The S&P 500

Air Products and Chemicals (APD) rose 3.6% after the company signed an agreement with TotalEnergies (TTE) to supply the French oil and gas firm w🐻ith𒁏 green hydrogen. 

The financial sector outperformed on Friday. Capital One (COF) rose 2.6%, while Discover Financial (DFS) gained 1.8% and JPMorgan Chase (JPM) advanced 1.6%.

Eli Lilly (LLY) gained 1.5% after FDA researchers voiced no concerℱns about the company’s experimental Alzheimer’s drug, donanemab. A special 𒁃panel will meet next week to advise on the drug’s approval. 

Gold miner Newmont (NEM) tumbled 5% as Treasury yields jumped and gold prices slumped following 澳洲幸运5官方开奖结果体彩网:Friday’s jobs report. Freeport-McMoRan (FCX), another major miner, shed 3.8% as copper prices sank꧃. 

Homebuilders declined as Friday’s jobs report threatened to keep interest rates on mortgages elevated longer than anticipated. PulteGroup (PHM) fell 2.5% and D.R. Horton (DHI) shed 2.4%. 

Nvidia (NVDA) dipped 0.1% ahead of its 澳洲幸运5官方开奖结果体彩网:10-for-1 stock split, which will take effect before markets open on Monday. 

The Nasdaq 100

Cybersecurity stocks rose across the board on Friday. CrowdStrike Holdings (CRWD) gained 2.5%, while Palo Alto Networks (PANW) advanced 2% and ZScaler (ZS) rose 1.2%. 

Biogen (BIIB) fell 2.8% follo♏wing the FDA’s assessment of Eli Lilly’s donanemab, which would compete directly with Biogen’s Leqembi if approved.

Chip stocks slipped as rising Treasury yields weighed on growth stocks. ASML Holding (ASML) fell 2.3% and Qualcomm (QCOM) shed 1.4%.

What Could Friday's Stock Split Do for Nvidia?

Nvidia (NVDA) stock was little changed Friday ahead of a 10-for-1 split set to take effeཧct after the close.

Nvi🐷dia shares traded at $1,208 with about an hour left in the session. If the stock weཧre to close at that price, shares would open at a price of about $120.80 and investors would have ten times as many shares on Monday morning.

After a stock split, some investors may view the stock's price as more affordable and decide to buy, driving up demand and in turn 澳洲幸运5官方开奖结果体彩网:leading to a rise in the 💞stock's pric⛄e. For instance, when Amazon (AMZN) executed a 20-for-1 stock split in 2022, shares rose in the days 澳洲幸运5官方开奖结果体彩网:following the split.

A stock split can also signal to the market that the company's stock price has been increasing enough to justify the move and investors may believe this growth will continue in the future.

"Historically, stock splits are bullish for companies that enact them, gaining 25% one year later vs. 12% for the broad index," according to Bank of America research.

The split could also raise Nvidia's chances of joining an index like the 澳洲幸运5官方开奖结果体彩网:Do🐟w Jones Industrial Average (DJIA), as price-weighted indexes like the Dow tend to avoid adding high-priced stocks because⛎ movements in their pr♊ice could have an outsized impact on the index.

-澳洲幸运5官方开奖结果体彩网:Naomi Buchanan

Vail Resorts Stock Tumble𝓰s as Low Snowfall Impacts Q3 Results

Shares of Vail Resorts (MTN) headed downhill Friday, a day after the ඣoperator of ski resꦍorts posted worse-than-expected results and cut its guidance as a lack of snowfall reduced demand.

The company reported third-quarter fiscal 2024 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $9.54, with revenue increasing 3.6% year-over-year to $1.28 billion. Both were short of a♛nalysts' estimates co🐻mpiled by Visible Alpha.

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO)🧸 Kirsten Lynch said Vail faced “unfavorable conditions across our North American resorts for a large portion of the 2023/2024 North American ski season.” She noted year-over-year snowfall totals were about 28% lower for the full winter season across the company’s western North American resorts.

Vail now sees full-year net income attributable to the company in a range of $224 million to $256 million, down from the previous outlook of $270 million to $325 million.

Vail Res💯orts shares traded down 11.3% Friday afternoon, near their lowest point since the early part of the COVID-19 pandemic in 2020.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

GameStop Slides Furt💦her During Roaring Kitty Livestream

Trading in shares of GameStop (GME) was halted multiple times Friday afternoon as meme-stock influencer Keith Gill hosted his first liᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚvestream in more than three years, fueling wild swings in the video game retailer's stock price.

Gill, who goes by Roaring Kitty online, started streaming at about 12:25 p.m. and quickly amassed an audience of more than 600,000 viewers as he discussed in vague terms his confidence in GameStop and its CEO R🍬yan Cohen.🙈

GameStop shares tumbled Friday morning after the company 澳洲幸运5🧔官方开奖结果⭕体彩网:unexpectedly reported its quarterly earnings days before their scheduled release. GameStop's revenue anꩲd earnings fell short of Wall Street's expectations. Shares tumbled further during Gill's livestream in erratic, start and stop trading.

Friday's losses had erased more than $235 million from Gill's position, which he first revealed on Sunday, as of 12:58 p.m. Still, Gill's portfolio showed an unrealized gain of more than $146 million.

Game💧Stop shares were down more than 38% as of 🍌1:10 p.m. ET, but were still up 57% so far this year.

Docusign Revenue, Future Billings Raise Concerns, an🌼d Stock Drops

Docusign (DOCU) shares fell Friday, a day after the provider of document-signing software only 澳洲幸运5官方开奖结果体彩网:slightly beat revenue estimates and its ꦦbilling guid🌸ance raised concerns about growth.

The company posted first-quarter fiscal 2025 adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.82, with revenue increasing 7.3% year-over-year to $709.6 million.

Billings were up 5.2% to $709.5 million. For the current quarter, Docusign sees billings in a range of $715.0 million to $725.0 million, and between $2.98 billion and♊ $3.03 billion for the 2025 fiscal year.

CFO Blake Graꦛyson said that the company anticipates the second quarter will have the lowest year-over-year bookings growth rate in fiscal 2025, “primarily given comparisons vs. last year’s strong on-time renewal performance and the timing impacts of various customer contracts.”

Docusign also announced the board approved a $1 billion increase in the company's 澳洲幸运5官方开奖结果体彩网:share repurchase program.

Shares of D🥂ocusign fell 5% and have lost 13% of the🎉ir value this year.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

GameStop Slips After Unexpectedly Releasing Results, Issuing Mo𝓀re Shares

GameStop (GME) unexpectedly announced its 澳洲幸运5官方开奖结果体彩网:first-quarter fiscal 2024 report before the bell Friday, with results falling short of analysts' expectations, contributing to the stock's recent volatility.

The company reported quarterly net sales of $882 million, down from $1.24 billion in the year-ago period and below analysts' expectations of $900 million, according to consensus estimates compiled by Visible Alpha.

Net losses came in at $32.3 million or 11 cents per share, narrowing from last year's $50.5 million or 17 cents per share, but slightly wider than analysts' projections.

GameStop also said in a 澳洲幸运5官方开奖结果体彩网:Securities and Exchange Commissi𒐪on (SE♛C) filing it would sell up to 75 million additional shares on top of the 45 million shares it rece🌳ntly sold for more than $900 mi𒉰llion.

The unexpected earnings came hours before 澳洲幸运5官方开奖结果体彩网:meme-stock influencer 澳洲幸运5官方开奖结果体彩网:Keith Gill's first 澳洲幸运5官方开奖结果体彩网:livestream in three years, scheduled for noon ET Friday. Gill, known as “Roaring Kitty” on YouTube and "DeepF---ingValue" on Reddit, was one of the key players in the 2020 and 2021 澳洲幸运5官方开奖结果体彩网:meme-stock craze. Gill recently began posting again after a roughly three-year hiatus, sending GameStop shares surging a♔nd contributing to the stock's volatility.

GameStop shares, which closed 47.5% higher Thursday, wꦏere down more than 28%. They have more than doubled this year, however.

-澳洲幸运5官方开奖结果体彩网:Naomi Buchanan

Stocks Making the Biggest Moves in Early Trading

Gains:

Lyft (LYFT): Shares rose 6%, continuing Thursday's gains after the ridesharing company 澳洲幸运5官方开奖结果体彩网:gave an optimistic long-term outlook at its first investor day.

Robinhood Markets (HOOD): Shares extended their gains and were up 1.2% after the online trading platform 澳洲幸运5官方开奖结果体彩网:announced its 𒈔acquisition of Bitstamp, a European cryptocurrencꦺy exchange, on Thursday.

Losses:

Docusign (DOCU): Shares fell 8% even as the 澳洲幸运5官方开奖结果体彩网:e-signature and document management 🐼company posted top- and bottom-line results that beat analysts’ forecasts.

GameStop (GME): Shares, which have been halted twice this morning, dropped 6% after the video-game retailer unexpectedly issued results and announced plans to sell more stock for the second time in澳洲幸运5官方开奖结果体彩网: less than a month. The release came just hours before a澳洲幸运5官方开奖结果体彩网: YouTube livestream that meme-stock influencer澳洲幸运5官方开奖结果体彩网: Keith Gill has scheduled for noon ET Friday.

Nvidia (NVDA): Shares in the AI star fell 1.3% ahead of the chip designer’s 10-for-1 stock split 澳洲幸运5官方开奖结果体彩网:after market close, with split-adjusted trading to begin on Monday.

Stock Futures Fall

Dow 𝔉futures werꦍe down 0.3% in premarket trading Friday.

S&P futures were down 0.4%.

Nasdaq futures were down 0.3%.