Stock Indexes Wrap: Semiconductors, Tech Ride AI Wave Higherꦺ as Healthcare Stoc🧔ks Lag

The Dow

Salesforce (CRM) led the index, rising 1.8%. Apple (AAPL) and Microsoft (MSFT) ticked up 0.6% an൩dಌ 0.3%, respectively, to both close at records.

Healthcare stocks trailed the broader market on Wednesday. UnitedHealth Group (UNH) slid 1.7%, while Merck (MRK) shed 1.5% and Amgen (AMGN) dropped 0.5%. 

The S&P 500

Paramount Global (PARA) surged 6.9% following reports that it had 澳洲幸运5官方开奖结果体彩网:reached a tentative merger deal with Skydance Media, an about-face after talks betw🔜een the companies were called off late last mont🎀h. 

Tesla (TSLA) rose 6.5%, adding to yesterday’s gains ✱that followed a better-than-expected sec꧒ond-quarter deliveries report. 

Newmont (NEM) gained 4.1% as gold prices got a boost from a falling U.S. dollar. Freeport-McMoRan (FCX) climbed 4% al♉ongside rising copper prices.&n𓄧bsp;

Constellation Brands (STZ) fell 3.4% despite 澳洲幸运5官方开奖结果体彩网:beating earnings estimates and raising its full-year profit outlook amid continued stren🐻gth in its beer segment.

Eli Lilly (LLY) shares fell 1.1%, declining for a second day after President Joe Biden on Tuesday railed against the company and Danish competitor Novo Nordisk (NVO) over the cost of their popular weight loss drugs. 

The Nasdaq 100

High-growth AI stocks were buoyed by falling Treasury yields and optimism about impending interest rate cuts. Nvidia (NVDA) rose 4.6% and Broadcom (AVGO) added 4.3%. Micron (MU) gained 3.2% and Arm Holdings (ARM) climbed 2.9%. 

Shares of Biogen (BIIB) fell 1.8%, declining for a second day as investors digested the FDA’s decision yesterday to 澳洲幸运5官方开奖结果体彩网:approve Eli Li🥃lly’s Alzheimer’s drug donanemab, a direct competitor to B🦂iogen’s Leqembi. 

Constellation Brands Raises E🅠PS Outlook Amid Highꦇer Beer Sales

Constellation Brands (STZ) on Wednesday reported a big jump in first-quarter profit and lifted its full-year guidance on higher beer sales, but wine♕ and spirits sales f🐼ell.

The company reported first-quarter fiscal 2025 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $4.78, well above the $3.45 consensus estimate of analysts compiled by Visible Alpha and last year's figure of $0.74. Revenue was up 5.8% year-over-year to $2.66 billion, a tick below forecasts.

Beer sales rose 8.3% to $2.27 billion, boosted by a gain of 7.6% in shipment volumes.
While the beer busines♋s flourished, sales of win💦e and spirits declined 6.6% to $389 million, as shipment volumes slipped 5.1%. 

Constellation Brands now expects full-year EPS of $14.63 to $14.93, up from its previous outlook of $13.40 to $13.70.

Despite the solid results, Constellations Brands' stock fell 4% in intraday trading on Wednesday, nearly erasing its year-to-date gains.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Tesla Deliveries Rally Nearly Erases YTD Losses

Tesla (TSLA) shares continued to climb on Wednesday, bringing the electric vehicle maker close to erasing its year-to-dat🌳e losses. 

The stock has surged each day this week, first on Monday in anticipation of solid second-quarter deliveries and then yesterday when that data did 澳洲幸运5官方开奖结果体彩网:surpass expectations. 

澳洲幸运5官方开奖结果体彩网:Sluggish electric vehicle sales and reports that the company had 澳洲幸运5官方开奖结果体彩网:ab꧅andoned plans for a lo𝔉w-cost model weighed on the stockಞ throughout the first quarter of the year. But its more than 20% rally in the last few days has nearly erased its year-to-date losses, which in April exceeded 40%. 

As of midday Wednesday a𒐪fternoon, shares were trading just 1% 🧸below where they started the year.

Southwest Adopts 'Poison Pill' Shareholder Rights Plan

澳洲幸运5官方开奖结果体彩网:Southwest Airlines (LUV) on Wednesday 澳洲幸运5官方开奖结果体彩网:implemented a so-called 澳洲幸运5官方开奖结果体彩网:poison pill shareholder rights plan to prevent activist Elliott Investment Management from acquiring additional shares.

Intended to help protect Southwest 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Bob Jord🐲an and chairman Gary Kelly, whom Elliott is trying to oust, the plan would be triggered if any group acquires at least a 12.5% stake in the company♌. If that happens, all other Southwest shareholders would have the opportunity to buy additional shares equal to their current stake at a 50% discount. 

Elliott holds an 11% stake in Southwest, and said last week that “leadership change is urgently needed” after 澳洲幸运5官方开奖结果体彩网:the airline cut its second-quarter 澳洲幸运5官方开奖结果体彩网:revenue🏅 per available seat mile (RAS༒M) guidance.

Southwe🌱st Airlines shares were up less than 1% Wednesday, and are down about 2% year-💃to-date.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Paramount Jumps Amid Reports That Skyd💟anc🔜e Merger Is Back On

Paramount Global (PARA) shares surged again Wednesday amid reports that its 澳洲幸运5官方开奖结果体彩网:deal to merge with Skydance Media was back on a🌟fter controlling shareholder Shari Redstone reporteꦺdly ended the discussions last month.

The resumed discussions would see Skydance buy National Amusements—the holding company owned by Shari Redstone that controls about 77% of Paramount’s voting shares—then merge Skydance with Paramount, according to multiple reports.

Skydance reportedly would pay $4.5 billion to acquire about half of Paramount's controlling shares at $15 per share, with another $1.5 billion set to go to Paramount's balance sheet, as the company has struggled with debt.

Paramount shares jumped about 10% to 🌟$11.80 Wednesday morning after closing 5.7% higher Tuesday. Shares are still down about 20% so far thi🗹s year.

-Aaron McDade

Stock Futures Fall After Unemployment, Trade Data

Futures contra🐻cts connected to the Dow Jones Industrial Average were little changed in premarket trading on Wednesday.

S&P 500 futures were off 0.1%.

Nasdaq 100 futures were down 0.2%.