Biggest S&P 500 Movers on Friday

Advancers

• Super Micro Computer (SMCI) shares wrapped up a week of massive gains with an 11.6% advance on Friday, notching the top daily performance in the S&P 500 for the fourth time this week. The gains came after the server maker 澳洲幸运5官方开奖结果体彩网:filed a compliance plan earlier this week to avoid delisting and 澳洲幸运5官方开奖结果体彩网:received a shoutout from partner Nvidia in the chipmaker's earnings call.
• Copart (CPRT) shares surged 10.2% after the online vehicle auction provider reported fiscal first-quarter sales that exceeded expectations. Copart operates remarketing services for damaged and totaled cars, and this part of its business benefitted from a higher volume of salvaged vehicles.

• Moderna (MRNA) shares jumped 7.5% after a senior executive 澳洲幸运5官方开奖结果体彩网:made bullish comments at a healthcare conference Thursday, with the stock's late-week bounce reclaiming some of the losses earlier this month in the wake of the cabinet appointment of vaccine skeptic Robert F. Kennedy Jr. Moderna's management said this week that it does not expect vaccines to be pulled from the market under the Trump administration.

Decliners

• Shares of TurboTax parent Intuit (INTU) fell 5.7%, marking the biggest loss of any S&P 500 stock on Friday, after the company's current-quarter outlook 澳洲幸运5官方开奖结果体彩网:missed estimates. Intuit shares had already tumbled earlier this week following reports the incoming Trump administration is considering 澳洲幸运5官方开奖结果体彩网:launching a competing free tax-f🐟iling app.
• After initially rising on stronger-than-expected quarterly results and a series of price target boosts by investment analysts, NetApp (NTAP) shares reversed direction to end Friday's session with a loss of 3.4%. Analysts praised the performance of NetApp's flash portfolio, but expressed concerns about persistent macroeconomic pressures and the sustainability of the company's gross margins.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Supemicro Jumps 12% to Cap Off a Wild Week

Super Micro Computer (SMCI) shares surged 12% Fri🌃day to cap off a wild week that saw the stock add nearly 80%. 

The gains come in the wake of a shoutout from partner and 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) darling Nvidia (NVDA) in the chipmaker’s 澳洲幸运5官方开奖结果体彩网:earnings call Wednesday, and a compliance plan filed Monday to 澳洲幸运5官方开奖结果体彩网:stave off delisting.  

Still, at Friday’s closing price of $33.15, shares in the server maker are more than 70% off their highs in March, having taken a hit from regulatory concerns following 澳洲幸𝓀运5官方开奖结果体彩网:allegations of accounting manipulation and filing delays.

The stock could face an uphill battle to win back invest꧋ors’ confidence and return to those levels, with Supermicro now un♌der pressure to complete its delinquent annual report by a fresh deadline, after naming a new auditor and requesting an extension from the Nasdaq. 

The plan still requires approval from the Nasdaq, with analysts at Mizuho telling clients in a note Tuesday they expect the approval process could take between two and five weeks, with a new filing d🧸eadline in February

-澳洲幸运5官方开奖结果体彩网:Kara Greenberg

Major Indexes Close Higher for the Week

The Dow Jones Industrial Average, S&P 500 and Nasdaq ♌Composite posted weekly gains, as the stock market rebounded from its worst week in two༒ months.

The Dow, which closed at a record hiꦛgh on Friday, rose 2% for the week, while the S&P 500 and Nasdaq each tacked on 1.7%♐.

With this week's gains, the Nasdaq is up 26.6% since the start of 2024, slightly outpacing the S&P 500's 25.2% gain over the period. The Dow is up 17.5% this year.

Reddit Sinks on News of Shares Sales

Reddit (RDDT) stock sank Friday following ne🦩ws that Advance Magazine Publishers planne🌟d to borrow against its stake in the social media platform, while Chinese conglomerate Tencent Holdings sold shares.

Advance Magazine Publishers, the parent company of Conde Nast and its brands such as GQ and Vanity Fair, is offering 7.8 million of its Reddit shares at a discounted price, "valued at as much as $1.2 billion," to establish a line of credit, according to a Thursday report from Bloomberg.

"Separately, Advance is buying derivatives on the shares, which will allow it to maintain its ownership stake while enabling it to create the credit facility," the report said.

Meantime, 澳洲幸运5官方开奖结果体彩网:✨Chinese conglomerate Tencent Holdings disclosed its latest series of sold shares on Thursday, the third such filing thi🌠s month.

The company sold just over 650,000 shares earlier this week, bringing the company's stake to about 7.7 million shares, down from roughly 10.7 million shares earlier this month. At Friday's recent price around $144, down from Thursday's record intraday high of $158.49, Tencent's stake is worth around $1.1 billion.

Reddit shares recently were down 7% but still nearly triple the $50.44 price where the stock closed on its 澳洲幸运5官方开奖结果体彩网:first day of trading following its 澳洲幸运5官方开奖结果体彩网:initial public offering (IPO) in March.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Elastic Levels to Watch as Stock Pops After Earnings

Elastic (ESTC) handily surpassed Wall Street’s earnings expectations and lifted its outlook, sending𝔉 shares in the enterprise data software company sharply higher on Friday.

Elastic shares traded within an eight-month 澳洲幸运5官方开奖结果体彩网:descending channel before breaking out above the pattern’s upper trendline on Thursday ahead of the company’s quarterly results. Importantly, the move higher occurred on the highest 澳洲幸运5官方开奖结果体彩网:trading volume since late August, indicating that some market participants had positioned for a better-than-expected♐ earnings report.

Friday’s earnings-driven jump adds to the stock’s recent bullish price momentum, but also triggers a heavily overbought 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) reading, which could le🐼ad to near-term profitꩲ-taking.

Investors should watch key overhead levels on Elastic's chart around $118 and $133, while also keeping an eye on major support levels near $94 and $82.

Elastic shares were up 15% in early afternoon trading at around $108, narrowing ♊their year-to-date loss to about 4%

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Ross Stores Shares Rise Despite Sluggish Sales

Shares of Ross Stores (ROST) rose Friday🔜 morning as the discount retailer's earnings came in better than expected.

The company reported $488.8 million in profits for the third quarter on $5.07 billion in sales. Analysts had expected ﷽$459.8 million in profits on a slightly higher $5.14 billion in sales, according to estimates compiled by Visi♔ble Alpha.

“We are disappointed with our third quarter sales results as business slowed from the solid gains we reported in the first half of 2024," CEO Barbara Rentler said. "Although our low-to-moderate income customers continue to face persistently high costs on necessities pressuring their discretionary spending, we believe we should have better executed some of our merchandising initiatives."

Ross recorded 1% 澳洲幸运5官方开奖结果体彩网:comparable store sales growth compared to the same time last year, lower than the 2.2% growth analysts expected. The company said the impact of unseasonably warm weather🅰 into early fall and hurricanes in the southern U.S. 🎃also negatively impacted sales in the quarter.

The company said it expects 2% to 3% comparable sales growth in the fourth quarter, and lifted its projected full-year 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) range to 🌟between $6.10 🐷and $6.17, up from $6.00 to $6.13 previously.

Ross shares were up 3.5% in recent trading. The stock has gained about 7% since the start of 2024, substantially lagging the S&P 500's gain of 25% during the period.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Intuit Shares Fall on Disappointing Outlook

Intuit (INTU) shares were losing ground Friday morning after the company reported beꦉtter-than-expected earnings but issued guidance that disappointed investors.

The TurboTax and Credit Karma parent said fiscal first-quarter revenue rose 10% to $3.3 billion, above the analyst consensus from Visible Alpha. Net income of $197 million or 70 cents per share declined from $241 million or 85 cents per share in the yea🍌r-ago quarter, but topped analysts’ projections. 

Looking ahead, Intuit said it expects second-quarter revenue revenue of $3.81 billion to $3.85 billion, below the analyst consensus. The company projected 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of 84 cents to 90 cents, also short of Wall Street estimates. For the full-year, th💜e company maintained its full-ꦺyear EPS forecast of $12.34 to $12.54. 

Intuit shares were d🐈own more than 4% in recent t🌠rading.

The drop comes after Intuit's stock took a hit earlier in the week on concerns the tax prep company could face more competition following reports leaders of President-elect Donald Trump's new Department of Government Efficiency (DOGE) are considering launching a 澳洲幸运5官方开奖结果体彩网:free tax-filing app.

The Washington Post reported Tesla (TSLA) CEO Elon Musk and entrepreneur 澳洲幸运5官方开奖结果体彩网:Vivek Ramaswamy, who Trump tapped to lead the agency, have discussed🅘 the possibility in 📖what the report described as “highly preliminary” conversations. 

Such an app could compete with Intuit and H&R Block (HRB), which offer both free and paid tax-fi🅺ling software. 

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Gap Stock Price Levels to Watch After Post-Earnings Pop

Gap (GAP) shares soared i🌞n premarket trading Friday after the apparel retailer reported stronger-than-expected third-quarter results and raised its sales outlook.

The company now anticipates fiscal 2024 sales to grow between 1.5% and 2% compared to its earlier guidance of “up slightly,” as the retailer continues to make progress executing a turnaround plan under CEO Richard Dickson. The retailer said the holiday period has started strongly.

The shares look set to stage a decisive breakout above a descending triangle following the company’s strong earnings report, potentially leading to a continuation of the stock's uptrend.

Investors should track key overhead price levels on Gap's chart around $27, $36, and $52, while monitoring a crucial support area near $20.

The stock was up 19% at around $26 about 15 minutes before the 🥂opening bell.

Read the 澳洲幸运5官方开奖结果体彩网:full technical analysis here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Futures Point to Mixed Open for Major Indexes

Futures tied 𝕴to the D🍒ow Jones Industrial Average were up 0.1%.

S&P 500 futures were down 0.1%.

Nasdaq 100 futures were also off 0.1%.