Apollo Global Management, Workday to Join S&P 500

Apollo Global Management and Workday will join the benchmark S&P 500 later this month, S&P Dow🤡 Jones Indexes said Friday. 

Apollo Global Management (APO) and Workday (WDAY) will replace Qorvo (QRVO) and Amentum (AMTM), respectively.

 The changes will take effect before 𓄧the open on Mon🅺day, Dec. 23.

Amentum was added in October, taking the spot of Bath & Body Works (BBWI).

Friday's news follows the November addition of Texas Pacific Land (TPL) to the index, replacing Marathon Oil (MRO).

ꦫ Qorvo and Amentum will move to the S&P SmallCap 600.

-澳洲幸运5官方开奖结果体彩网:David Marino-Nachison

Biggest S&P 500 Movers on Friday

Advancers

• Lululemon Athletica (LULU) shares led the S&P 500 higher on Friday, 澳洲幸运5官方开奖结果体彩网:jumping 15.9% after the maker of yoga pants and other athletic apparel posted better-than-expected quarterly sales and profits. The company said a strong performance in international markets and in Canada helped drive the strong results. Lululemon also boosted its full-year revenue and earnings guidance, striking an optimistic tone heading into the critical holiday shopping season.

• Another strong earnings report came from server, data storage, and networking provider Hewlett Packard Enterprise (HPE). The IT services firm exceeded top- and bottom-line forecasts on record revenue in the fourth quarter, highlighting artificial intelligence (AI) server demand as a key sales driver. In the wake of the strong quarterly performance, Citi analysts 澳洲幸运5官方开奖结果体彩网🅘:upgraded Hewlett Packard Enterprise stock to "buy" from "neutral" and upped their price target, citing a bright demand outlook for mainstream servers and in the enterprise networking market. HPE shares surged 10.6% on Friday.
• Cosmetics retailer Ulta Beauty (ULTA) also topped consensus revenue and earnings per share (EPS) estimates with 澳洲幸运5官方开奖结果体彩网:its latest quarterly results, and its shares surged 9%. Although increased competition and soft demand for skin care and makeup have pressured Ulta's performance this year, executives touted progress on solidifying the firm's market position with initiatives including in-store events, digital tools, and new brands. However, Ulta expressed a cautious view on the holiday season, suggesting consumers remain focused on value as they navigate economic uncertainties.

Decliners

• Shares of UnitedHealth Group (UNH) tumbled 5.1%, falling the most of any S&P 500 stock on Friday, as the hunt continues for the gunman who 澳洲幸运5官方开奖结果体彩网:fatally shot Brian Thompson, CEO of the company's health insurance unit, earlier this week. The killing has provoked conversations about the complexities of navigating the U.S. health insurance system, including the lack of coverage for certain medical expenses and denial of requests for care. Other health insurance stocks also moved lower.
• Quarterly EPS from medical device maker Cooper Companies (COO) edged out analysts' forecasts, but soft demand for contact lenses contributed to a slight revenue shortfall, and its shares sank 4.4%.
• Oil futures moved lower as analysts pointed to the likelihood of surplus conditions in 2025, with soft demand expected to persist even as major producers extend output cuts. The declining prices pressured oil and gas stocks. Shares of oilfield services provider Halliburton (HAL) dropped 4.1%, while shares of exploration and production company Diamondback Energy (FANG) fell 3.4%.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

S&P 500, Nasdaq Post Gains for Third Straight Week

The S&P 500 and Nasdaq Composite extended their weekly winning streaks to three in a row, as﷽ both indexes closed Friday at record highs. The indexes have posted gains in four of the last five weeks.

🐲 The Nasdaq gained 3.3% this week, while the S&P 500 tacked on just under 1%. The Dow Jones Industrial Average fell 0.6% this week and has posted weekly lo🌠sses in four of the last seven weeks, though the blue chip index is less than 1% away from its all-time high.

Victoria's Secret Stock Soars on Rosy Outlook

Victoria's Secret (VSCO) shares surged Friday after the lingerꦺie retailer boosted its sales outlook as it builds on strong Thanksgiving weekend sales.

෴ The company raised its fisc🍸al 2024 net sales forecast to an increase of 1%-2%, versus the previous guidance of an around 1% decrease.

CEO Hillary Super said the retailer saw “broad based” strength across its brands, namely its Victoria’s Secret items, PINK and Adore Me, and its sales growth was its best since 2021. 

The outlook boost followed mixed quarterly results. Net sales rose 7% to $1.35 billion year-over-year, higher than the $1.29 billion estimate from analysts polled by Visible Alpha. The third-quarter $0.71 per share net loss was wider than analysts’ estimate💞s of $0.66, however. 

Victoria's Secret shares were up 11% in late trading Friday at their highest level in more than two years. The stock has gained nearly 80% this year.

Analysts Raise HP Enterprise Price Targets After Earnings

Hewlett Packard Enterprise (HPE) shares popped after the company’s better-than-expected 澳洲幸运5官方开奖结果体彩网:fiscal fourth-quarter results drew price target bumps from analysts.

Stifel reiterated its buy rating for the server maker and upgraded its price target to $25 from $22, calling the company’s shares “undervalued” amid “strong demand for [澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI)] servers and signs of a recovery♏ in traditional servers.”

Morgan Stanley upgraded HP Enterprise to “overweight” from “equal weight” and raised its price target to $28 from $23. The firm noted that HP Enterprise outperformed its results from last quarter "driven by AI servers." AI server revenue was in line with expectations at $1.5 billion.

HP Enterprise shares were up 11% at $24 in mid-afternoon trading Friday. The stock has risen 42% since the start of 2024, outpacing the S&P 500's gain of 28% over the period.

In its fiscal fourth quarter, HP Enterprise posted record revenue of $8.5 billion, up 15% year🐟-over-year and above the analyst consensus compiled by Visible Alpha. Net income was $1.34 billion, or 99 cents per share, up from $642 million, or 49 ce🥀nts per share, a year earlier.

HP Enterprise server revenue jumped 32% to $4.7 billion, above analysts' estimates. In October, the company unveiled 澳洲幸运5官方开奖结果体彩网:new servers powered by Advanced Micro Devices (AMD) chip♌s and designed to support AI clusters for tasks๊ like training large language models.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Lululemon Leads S&P 500 Gainers After Earnings

Lululemon Athletica (LULU) shares soared on Friday after the activewear retailer reported fiscal third-quarter results that t🌟opped analysts' estimates and raised its full-year outlook.

Lululemon shares were up 18% at $407 in recent trading, leading gainers in the S&P 500 and Nasdaq Composite. Even with today's gain, the stock has lost about a fifth of its value since the start of the year.

Lululemon shares formed an 澳洲幸运5官方开奖结果体彩网:inverse head and shoulders between May and November before breaking out above the pattern’s neckline earlier this week ahead of🐓 the company’s quarterly report.

Moreover, the 澳洲幸运5官方开奖结果体彩网:50-day moving average (MA) has turned upwards toward the 200-day MA, setting the stage for a potential 澳洲幸运5官方开奖结果体彩网:golden cross—a bullish chart si🅰gnal that indicates the start of a new uptrend.

Investors should watch important overhead resistance areas on Lululemon's chart around $389, $419, and $468, while also monitoring a key support level near $335.

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

Market Pricing in Greater Likelihood of December Rate Cut

Friday's jobs report bolstered traders' belief that the Federal Reserve will cut its influential interest rate again in December.

In November, 澳洲幸运5官方开奖结果体彩网:employers added 227,000 jobs to the economy, slightly higher than the 214,000 number economists had expected. The unemployment 🏅rate rose to be in line with exꦗpectations.

In the wake of the report, traders were pricing in an 87% chance that the Fed will make a quarter-point cut in their meeting on Dec. 17-18, according to the CME Group’s FedWatch tool, which forecasts rate movements based on fed funds futures trading data. That's up from 71% on Thursday and 66% last week.

"It was already widely expected that the Federal Open Market Committee would move forward with another 25-澳洲幸运5官方开奖结果体彩网:basis point rate cut in December, and the latest employment report is unlikely to change that," wrote Moody's Analyt🎐ics' Economist Dante DeAntonio.

Traders have been especially sensitive to jobs data as Federal Reserve officials work to balance their fight against inflation with the mandate to keep unemployment low. Concerns about a weakening job market spurred the Fed to 澳洲幸运5官方开奖结果体彩网:cut its influential fed funds rate for the first𓆉 time since 2020 in September. The central bank cut the key rate again last month.

Fed Chair Jerome Powell said earlier this▨ week that the continued strength of the economy allows the Fed to be cautious as it considers🐠 additional rate cuts.

Today's jobs report was one of the last key pieces of data for the Fed to digest before this month's policy meeting. Fed officials will be keeping a close eye on consumer and wholesale inflation data that are scheduled to be released next week.

-澳洲幸运5官方开奖结果体彩网:Taylor Tompkins

Peloton Surges After UBS Upgrade

Shares of Peloton Interactive (PTON) jumped Friday after UBS upgraded its rating on the stock and raised its price target, point﷽ing to the fitness equipment and services company's cost-cutting moves.

The bank lifted its rating to "neutral" from "sell," and boosted the price target to $10.00 from $2.50. The analysts wrote in a note to clients that because of the reduced costs, especially operating expenses, they see earnings before interest, taxes, de𒈔preciation, and amorti🐠zation (EBITDA) bey🔯ond the $200 million Peloton has estimated🅠.

They also pointed to the selection of former Ford (F) executive Peter Stern as the new CEO, who is taking over in January. UBS said that Stern has a clearer setup "to register early success with low hanging fruit growth initiatives suchꦇ as subscription pricing increase."

Pel🌌oton Interactive shares recently were up 7% and trading at their highest levels since April 2023.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Amazon Price Levels to Watch as Stock Hits Record Highs

Amazon (AMZN) shares hit another record high Friday mo💙rning, boosting their year-to-date gain to 48%.

Among news developments supporting the strong performance, the tech giant said Tuesday it’s building a supercompute𒁃r usi𓃲ng its in-house Trainium chips, which will be be used by AI start-up Anthropic. According to a report in The Wall Street Journal, the move positions the company to take on AI favorite Nvidia (NVDA) in the lucrative 澳洲幸运5官方开奖结果体彩网:graphics processing unit (GPU) chip market.

Separately this week, the 澳洲幸运5官方开奖结果体彩网:e-commerce titan reported record sales and number of items sold at the start of the holiday shopping seaso𓂃n, with the company saying the majority of sales came from independent sel🐟lers.

Amazon's gains so far in 2024 have handily outpaced the 澳洲幸运5官方开奖结果体彩网:S&P 500’s return of about 28🐼% over the period. The stock was𒈔 up 2% to $225 in recent trading.

After breaking out from an as🍎cending triangle last month, Amazon shares retested the initial breakout area before moving higher, signaling a continuation of the stock’s longer-term uptrend.

The measuring principle, which calculates the distance between the ascending triangle’s two trendlines and 🎃adds that amount to the ♔pattern’s breakout area, forecasts an upside target in the stock of $250.

Investors should watch major support levels on Amazon's chart around $200, $190, and $175.

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

Docusign Soars as Profit Doubles Expectations

Docusign (DOCU) shares soared Friday morning, a day after the 澳洲幸运5官方开奖结果体彩网:e-document software provider&n🐽bsp;posted better-than-expected results and raised its guidance as billings and subscription revenue surged.

The company reported third-quarter fiscal 2025 profit of $62.4 million, or $0.30 per share, while analysts surveyed by Visible Alpha projected $30.2 million,ܫ or $0.14 per share. Revenue of $754.8 million also beat estimates.

CEO Allan Thygesen said Docusign had "sustained momentum in new customer growth at 11% year-over-year to 1.6 million customers."

The company now sees full-year revenue of $2.959 billion to $2.963 billion, compared to the earlier estimate of𒉰 $2.94꧋0 billion to $2.952 billion.

Docu🧸sign shares were up 22% in recent trading, at their highest level since April 2022.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Ulta Beauty Levels to Watch After Post-Earnings Surge

Ulta Beauty (ULTA) shares traded sharply higher in premarket trading Friday after the cosmetics retailer surpasse🀅d Wall Street’s earnings expectations and raised its outlook.

Th☂e stock sits poised to break above the upper trendline of an ascending triangle after the company’s upbeat quarterly results, setting the stage for a potential upside reversal.

Investors should watch key overhead areas on Ulta Beauty's chart around $435, $465, and $497, while also monitoring a crucial support level near $412.

The stock was up 10% at $432 about ten minutes before Friday's opening bell.

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

Major Index Futures Mixed Ahead of Jobs Data

Futures tied t🅰o 🧸the Dow Jones Industrial Average were down 0.1%.

S&P 500 futures were also off 0.1%.

Nasdaq 100 futures were up fractionally.