S&P 500 Gains and Losses Today

Here are the stocks in the S&P 500 that gained and lost the most today, and 澳洲幸运5官方开奖꧟结果体彩网:the stories behind the day's market movers.

Dow Notches Third Straꦦight Week o🦄f Gains; Microsoft Drops on OpenAI Leadership Shake-up

The 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average finished rose 2 point🦄s, putting the index up nearly 2% on the week, its third consecutive week in the green.

Walgreens Boots Alliance (WBA) shares gained 2.3%, while shares of American Express (AXP) rose by 2.2%, and Caterpillar (CAT) moved higher by 2%.

Chevron (CVX) shares rose 1.9% as prices for 澳洲幸运5官方开奖结果体彩网:West Texas Intermediate crude oil shot up nearly 4%. 

Intel (INTC) shares climbed 0.9% for their fourth straight positive session, boosted by a 澳洲幸运5官方开奖结果体彩网:recent upgrade from Mizuh🃏o Securities. 

Microsoft (MSFT) shares dropped 1.7%, pulling back from yesterday’s all-time high. Much of the drop came after ChatGPT-maker OpenAI, which Micr🐼osoft has invested billions in, announceꦚd that its board had voted to remove CEO Sam Altman from his position. 

The healthcare sector slipped 0.2%, weighed on by Dow components Amgen (AMGN), which fell 1.3%, and UnitedHealth Group (UNH) down 0.7%. Johnson & Johnson (JNJ) and Merck & Co. (MRK) each declined 0.2%.

Cisco Systems (CSCO) shares dropped 0.6%, extending yesterday’s declines following an 澳洲幸运5官方开奖结果体彩网:earnings r♔eport that showed a slowdown in orders. 

Walmart (WMT) shares fell 0.4%, their second day of losses after the retail giant’s 澳洲幸运5官🔯方开奖结果体彩网:earnings report disappointed investors with underwhelming guidance.

-Terry Lane

Detroit's Big Three Gain as UAW Ratifies Contract

United Auto Workers (UAW) 澳洲幸运5官方开奖结果体彩网:union members voted Friday to ratify the new contracts reached with Stellantis (STLA) and Ford (F) during the union's 澳洲幸运5官方开奖结果体彩网:historic strike against the 澳洲幸运5官方开奖结果体彩网:Big Three automakers.

Nearly 70% of the 27,810 UAW members at Stellantis voted in favor of the new contract. At Ford, over 68% of 34,657 UAW members voted to ratify the new contract. The union estimated the 4-year contract was worth about 100% more than Stellantis's original offer and 50% more than Ford's.

General Motors (GM) workers 澳洲幸运5官方开奖结果体彩网:voted and 🅷ap♎proved their new contract on Thursday.

Stellantis shares were up 1% in intraday trading Friday following the news, 🐬while Ford shares rose 0.8% and GM shares climbed 1.3%.

-Naomi Buchanan

Gene Therapy Stocks Soar on UK Regulator's Approval

Shares of companies t🌱hat specialize in gene therapy treatments jumped on Friday after the U.K. became the first country to approve gene therapy for sickle cell disease. 

The Medicines and Healthcare Products Regulatory Agency said Thursday it had approved Casgevy for patients 12 and up, making it the first CRISPR-based gene-editing therapy to be approved for any condition anywhere in the world.

There are only about 15,000 people with sickle cell disease in the U.K., but the historic approval sent shares of CRISPR Therapeutics (CRSP) soaring 13% to a 6-month high. Other gene therapy companies followed, like Bluebird Bio (BLUE), up 10%, and 23andMe (), up 12%.

🌠Gap Gets a Boost Frꦏom Old Navy, Cost Cutting, and Savings, Sending Shares Soaring

A rebound at Old Navy stores helped Gap (GPS) post better-thaඣn-expected results, and shares skyrocketed over 30% in early trading on Friday. However, the company war🀅ned about a slow holiday shopping season ahead.

The apparel retailer posted third-quarter fiscal 2023 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.59, three times forecasts. Revenue fell 7% from a year ago to $3.77 billion, but that also exceeded estimates. 澳洲幸运5官方开奖结果体彩网:Comparable store sales were down 2%, better than anticipated.

Gap now anticipates holiday quarter sales to be flat to slightly negative compared to 2022, while analysts had been looking for a rise𝐆 of 0.3%. It ℱnoted that “positive signs at Old Navy and Gap balance the continued work underway at Athleta and Banana Republic.”

Shares of ꧋Gap soared to their highest level since January♌ 2022 following the news.

-Bill McColl

Midday Movers

Expedia Group Inc. (EXPE): Shares of the online travel booking company rose more than 5% after analysts at Exercise ISI upgraded the stock to outperform and raised their price target to $200 from $135, citing the likꦇꦐelihood of sustainable revenue growth.

Copart Inc. (CPRT): Shares of the used-car reseller rose more than 2% after it poste🐎d better-than-expected earnings, with revenue up 14% and net income increasing by 35%.

Amazon.com Inc. (AMZN): Shares of the e-commerce giant gained more than 1% after reports it would lay off hundreds of employees in its Alexa unit as it funnels resources into generative artificial intelligencꦡe initiatives. 

ChargePoint Holdings Inc. (CHPT): Shares of the electric vehicle charging network provider fell more than 30% after it cut its third-quarter earnings forecast♏ and announced CEO Pasquale Romano would be replaced by COO Rick Wilmer effective immediately. 

Alphabet Inc. (GOOGL): Shares of the tech company fell 2% after it delayed th♎e release of its ChatGPT competitor, Gemini. 

Applied Materials Shares Slide Following Reports of DOJ Investiga𒐪tion

Despite better-than-expected earnings, Applied Materials (AMAT) shares 澳洲幸运5官方开奖结果体彩网:tumbled ൲over 5% in early tradi💞ng Friday following reports of a U.S. Department o🍃f Justice probe int💜o potential export violations.

The semiconductor equipment maker is reportedly being investigated for evading 澳洲幸运5官方开奖结果体彩网:export restrictions and sending advanced chipmaking equipment worth hundreds of millions of dollars to Chinese chipmaker SMIC without export licenses.

The news came as Applied Materials reported better-than-expected results, with fiscal fourth-quarter 澳洲幸运5官方开奖结果体彩网:net income of $2 billion and 澳洲幸运5官方开奖结果体彩网:earnings per share of $2.12, up from net income of $1.6 billion and earnings per share of $1.85 in the year-ago quarter, and above analyst estimates.

-Fatima Attarwala

Oil Prices Rebound From 4-Month Low

Oil futures gained Friday after c🐠losing yesterday at their lowest point since July amid concerns about the impact on demand of a global economic slowdown.

澳洲幸运5官方开奖结果体彩网:West Texas Intermediate (WTI) contracts rose nearly 3% Friday morning to trade around $75 a barrel. Brent crude, the European benchmark🧸, also rose 3% to abou𝐆t $80 a barrel.

Still, oil is trading well below the💟 highs reached in late September, when WTI and Brent were both about $94 a barrel. Economic data out of the U.S., China, and Europe have elevated conviction that economic growth around the globe is slowing.

Ross Stores Shares Jump as Sales, Earnings Rise

Shares of Ross Stores (ROST) rose more than 8% in e꧑arly trading Friday after its third-quarter earnings topped Wall Street estimates as cost-conscious shoppers increasingly turned to the discount retailer for goods. 

Ross Stores earnings by the numbers

• Net income: $447 million vs. $412 million expected according to analyst estimates compiled by Visible Alpha
• Earnings per share: $1.33 vs. $1.22 expected
• Revenue: $4.9 billion vs. $4.8 billion expected

Ross’s 澳洲幸运5官方开奖结果体彩网:same-store sales rose 5%, in line with growth seen at other discount retailers like Walmart (WMT) and 澳洲幸运5官方开奖结果体彩网:TJX Companies (TJX). 

The company does face headwinds, howev🃏er, heading into the all-important holiday season. The company struck a cautious tone and reiterated rather than raised its fourth-quarter sales and earnings guidance, citing “macroeconomic volatility, persistent inflation, and m💃ore recently, geopolitical uncertainty.” 

With Friday’s ౠgains, Ross Stores shares are up about 12% year-to-date, and 33% higher than they were a year ago. 

Stocks Making the Biggest Moves Premarket

Gains:

• Gap Inc. (GPS): Shares of the apparel retailer jumped 17% after it reported earnings and sales fell less than expected last quarter. Earnings of 58 cents per share—twice what analysts had forecast—were boosted by improved margins amid lower commodity costs. 
• Ross Stores Inc. (ROST): Shares of the discount retailer rose 6% after its quarterly earnings beat analyst estimates on the top and bottom lines. 
• Li Auto Inc. (LI): 澳洲幸运5官方开奖结果体彩网:American depos🐠itary receipts (ADRs) of the Chinese electric car maker rose about 5% after it was added to Hong Kong’s benchmark 澳洲幸运5官方开奖结果体彩网:Hang Seng Index. 
  

Losses: 

• Applied Materials Inc. (AMAT): Shares of the semiconductor manufacturing equipment maker fell about 7% after Reuters reported it is facing a federal investigation into whether it violated 澳洲幸运5官方开奖结果体彩网:restrictions on shipments to China.
• BJ’s Wholesale Club Holdings Inc. (BJ): Shares of the big-box retailer fell 5% after it reported same-store sales fell in the third quarter and lowered its full-year guidance as consumers cut back on discretionary spending.
• Alibaba Group Holdings Ltd. (BABA): ADRs of the Chinese e-commerce company slid 3%, adding to 澳洲幸运5官方开奖结果体彩网:yesterday’s 9% drop on news it won't go through with its planned spin-off of its cloud computing unit because of U.S. chip restrictions.

Futures Rise, Putting Stocks on Track for Winning W😼eek

Futures contracts connected to t♑he Dow Jones Industrial Average were up more thanꦑ 0.3% in premarket trading.

S&P 500 futures were also 0.3% higher about an hour before mark🅠ets opened.

Nasdaq 100 futures ticked up 0.1%.