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S&P 500 Gains and Losses Today: FICO Shares Regain Ground After Recent Slump

Traders working on a busy stock exchange floor surrounded by numerous monitors displaying financial data and stock information
A trader works on t💞he 🐠floor of the New York Stock Exchange (NYSE) at the opening bell in New York City, on May 27.

Timothy A. Clary / AFP via Getty Images

Key Takeaways

  • The S&P 500 slipped 0.6% on Wednesday, May 28, ahead of semiconductor giant Nvidia's highly anticipated quarterly earnings release.
  • Water solutions provider A.O. Smith's shares dropped after HVAC specialist Lennox announced a joint venture with Aris to enter the North American water heater market.
  • Fair Isaac shares regained some of the heavy losses posted over the past week amid critiques from a top federal housing official.

Major U.S. equities indexes ticked lower on Wednesday as investors awaited the afternoon's earnings results from artificial intelligence (AI) chip behemoth Nvidia (NVDA).

The S&P 500 ended the day 0.6% lower. The Dow was also down 0.6%, while the Nasdaq fell 0.5%. After the bell, Nvidia 澳洲幸运5官方♚开奖结果体彩网:reported sales topped analyst🌌s’ expectations in the fiscal first quarter, but the company🌳's earnings missed amid new export cuꦰrbs.

After posting the sharpest drop in the S&P 500 during the previous session, shares of credit score provider Fair Isaac (FICO) changed course on Wednesday, jumping 7.7% to log the top daily performance in the benchmark index. The stock has been under pressure over the past week following 澳洲幸运5官方开奖结果体彩网ꦚ:criticism of FICO's pricing structure by a top federal housing official, who singled out the cost of credit evaluations for potential borrowers as a major contributor to elevated mortgage origination exp🍬enses. 

Warner Bros. Discovery (WBD) shares gained 4.9% after reports that David Leavy would exit his role as the chief operating officer of the entertainment giant's cable news network CNN and return to the parent company. Be♚fore helping guide CNN through a transitional period over the past two years, Leavy was employed as WBD's chief corporate affairs officer. 

Shares of medical device firm Hologic (HOLX) added🎉 2.5% on Wednesday, extending gains posted the prior day following reports that the company had rejected a buyout offer from two private equity firms. Although the take-private deal for the diagnostics equipment maker did not materialize, reports suggested that negotiations could continue.

Shares of water heater and treatment solutions specialist A.O. Smith (AOS) plunged 6.3%. The decline in the stock came after heating, ventilation, and air conditioning giant Lennox International (LII) said it will jump into the water heater market in North America via a joint venture with Aris Water Solutions (ARIS). Analysts aꦦt Jefferies expressed concerns about A.O. Smith's market position in the wake of Lennox's announcement.

Deckers Outdoor (DECK) shares slipped 4.3% on Wednesday. The stock has seen heavy volatility in recent sessions, t🎀umbling Friday after the parent coꦏmpany of the Ugg and Hoka footwear brands withheld its full-year forecast, citing tariff concerns. Then on Tuesday, it regained ground following the holiday weekend, bolstered by a strong consumer sentiment report and an extended timeline for tariffs on imports from Europe.

Shares of electric utility AES Corp. (AES) dropped 3.67% after Argus Research downgraded the stock to "hold" from "buy." Analysts pointed to the power generator's recent earnings report, noting that adjusted earnings per share (EPS) fell sharply year-over-year and came in below consensus forecasts. Although AES could benefit over the long term from the shift to more environmentally friendly power generation, the stock has been under pressure as the renewable energy industry faces an uncertain policy outlook.

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