Stock Indexes Wraಌp: Strong Jobs Report Weighs on Commodities, Consumers, Homebꩵuilders

The Dow

3M (MMM) rose 2.7% aft🅷er being upgraded to “buy” from “neutral” by Bank of America. 

Apple (AAPL) added 1.2% ahead of its 澳洲幸运5开奖号码历史查询:Worldwide Deve🗹loper Conference on Monday when it's expected to unꩵveil several new AI features. 

Consumer stocks weighed on the index, including Walmart (WMT), down 1.9%, and McDonald’s (MCD), down 1.8%.

The S&P 500

Air Products and Chemicals (APD) rose 3.6% after the company signed an agreement with TotalEnergies (TTE) to supply the🏅 French oil an♐d gas firm with green hydrogen. 

The financial sector outperformed on Friday. Capital One (COF) rose 2.6%, while Discover Financial (DFS) gained 1.8% and JPMorgan Chase (JPM) advanced 1.6%.

Eli Lilly (LLY) gained 1.5% af🌞ter FDA researchers voiced no concerns about the company’s experimental Alzheimer’s drug, donanemab. A special panel ๊will meet next week to advise on the drug’s approval. 

Gold miner Newmont (NEM) tumbled 5% as Treasury yields jumped and gold prices slumped following 澳洲幸运5开奖号码历史查询:Friday’s jobs report. Freeport-McMoRan (FCX), another ma🙈jor miner, shed 3.8% as copper prices sank. 

Homebuilders declined as Friday’s jobs report threatened to keep interest rates on mortgages elevated longer than anticipated. PulteGroup (PHM) fell 2.5% and D.R. Horton (DHI) shed 2.4%. 

Nvidia (NVDA) dipped 0.1% ahead of its 澳洲幸运5开奖号码历史查询:10-for-1 stock split, which will take effect before markets open on Monday. 

The Nasdaq 100

Cybersecurity stocks rose across the board on Friday. CrowdStrike Holdings (CRWD) gained 2.5%, while Palo Alto Networks (PANW) advanced 2% and ZScaler (ZS) rose 1.2%. 

Biogen (BIIB) fell 2.8% follo𒅌wing the FDA’s assessment of Eli Lilly’s donanemab, which would compete directly with Biogen’s Leqembi if approved.

Chip stocks slipped as rising Treasury yields weighed on growth stocks. ASML Holding (ASML) fell 2.3% and Qualcomm (QCOM) shed 1.4%.

What Could Friday's Stock Split Do for Nvidia?

Nvidia (NVDA) stock was little changed Friday 💞aheaಞd of a 10-for-1 split set to take effect after the close.

Nvidi♚a shares traded at $1,208 with about an🅺 hour left in the session. If the stock were to close at that price, shares would open at a price of about $120.80 and investors would have ten times as many shares on Monday morning.

After a stock split, some investors may view the stock's price as more affordable and decide to buy, driving up demand and in turn 澳洲幸运5开奖号码历史查询:leadi♐ng to a rise in the stock's price. For instance, when Amazon (AMZN) executed a 20-for-1 stock split in 2022, shares rose in the days 澳洲幸运5开奖号码历史查询:following the split.

A stock split can also signal to the market that the company's stock price has been increasing enough to justify the move and investors may believe this growth will continue in the future.

"Historically, stock splits are bullish for companies that enact them, gaining 25% one year later vs. 12% for the broad index," according to Bank of America research.

The split could also raise Nvidia's chances of joining an index like the 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average (DJIA), as price-weighted indexes like the Dow tend to avoid adding high-priced stocks 𒁃because movements in their price could have♈ an outsized impact on the index.

-澳洲幸运5开奖号码历史查询:Naomi Buchanan

Vail Resorts Stock T⛎umbl🍨es as Low Snowfall Impacts Q3 Results

Shares of Vail Resorts (MTN) headed downhill Friday, a day after the operator of ski resorts posted worse-than-expected results and cut its guidance as a l𒈔ack of snowfall reduc♚ed demand.

The company reported third-quarter fiscal 2024 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $9.54, with revenue increasing 3.6% year-over-year to $1.28 billion. Both were short of analysts' estimates compiled bꩲy Visible Alpha.

澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) Kirsten Lynch said Vail faced “unfavorable conditions across our North American resorts for a large portion of the 2023/2024 North American ski season.” She noted year-over-year snowfall totals were about 28% lower for the full winter season across the company’s western North Ameri💞can resorts.

Vail now sees full-year net income attributable to the company in a range of $224 million to $256 million, down from the previous outlook of $270 million to $325 million.

Vail 🌺Resorts shares trade𓆉d down 11.3% Friday afternoon, near their lowest point since the early part of the COVID-19 pandemic in 2020.

-澳洲幸运5开奖号码历史查询:Bill McColl

GameStop Sl🤡ides Further During Roaring Kitty Livestream

Trading in shares of GameStop (GME) was halted multiple times Friday afternoon as meme-stock influencer Keith Gill hosted his first livestream in more than three years, fueling wild swings in th✱e video ♋game retailer's stock price.

Gill, who goes by Roaring Kitty online, started streaming at about 12:25 p.m. and quickly amassed an audi💖ence of more than 600,000 viewers as he discussed in vague terms his co🌜nfidence in GameStop and its CEO Ryan Cohen.

GameStop shares tumbled Friday morning after the company 澳洲幸运5开奖号码历史查询:💎unexpectedly reported its quarterly earnings days before their scheduled rel🐠ease. GameStop's revenue and earnings fell short of Wall Street's expectations. Shares tumbled further during Gill's livestream in erratic♏, start and stop trading.

Friday's losses had erased more than $235 million from Gill's position, which he first revealed on Sunday, as of 12:58 p.m. Still, Gill's portfolio showed an unrealized gain of more than $146 million.

GameStop shares were down more than 38% as of 1:10 p.m. ♛ET, but were still up 57% so far this year.

Docusign Revenue, Future Billings Raise Co🌠ncerns, and Stock Dro𝓰ps

Docusign (DOCU) shares fell Friday, a day after the provider of document-signing software only 澳洲幸运5开奖号码历史查询:slightly beat revenue estimates and its billing guidance raised concꦑerns about growth.

The company posted first-quarter fiscal 2025 adjusted 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $0.82, with revenue increasing 7.3% year-over-year to $709.6 million.

Billings were up 5.2% to $709.5 million. For the current quarter, Docusign sees billings in a range of $715.0 million to $725.0 million, an🌳d between $2.98 billion and $3.03 billion for the 2025 fiscal year.

CFO Blake Grayson said that the company anticipates the second quarter will have the lowest year-over-year bookings growth rate in fiscal 2025, “primarily given comparisons vs. last year’s strong on-time renewal performance and the timing impacts of var𓂃ious customer contracts.”

Docusign also announced the board approved a $1 billion increase in the company's 澳洲幸运5开奖号码历史查询:share repurchase program.

Shares of Docusign 𒆙fell 5%𒆙 and have lost 13% of their value this year.

-澳洲幸运5开奖号码历史查询:Bill McColl

Game𝄹Stop Slips After Unexpectedly Releasing Res♏ults, Issuing More Shares

GameStop (GME) unexpectedly announced its 澳洲幸运5开奖号码历史查询:first-quarter fiscal 2024 report before the bell Friday, with results falling short of analysts' expectations, contributing to the stock's recent volatility.

The company reported quarterly net sales of $882 million, down from $1.24 billion in the year-ago period and below analysts' expectations of $900 million, according to consensus estimates compiled by Visible Alpha.

Net losses came in at $32.3 million or 11 cents per share, narrowing from last year's $50.5 million or 17 cents per share, but slightly wider than analysts' projections.

GameStop also said in a 澳洲幸运5开奖号码历史查询:💫Securities and Exchange Commission (SEC) filin꧟g it would seꦑll up to 75 million additional shares on top of the 45 million shares it recently sold for more than $900 million.

The unexpected earnings came hours before 澳洲幸运5开奖号码历史查询:meme-stock influencer 澳洲幸运5开奖号码历史查询:Keith Gill's first 澳洲幸运5开奖号码历史查询:livestream in three years, scheduled for noon ET Friday. Gill, known as “Roaring Kitty” on YouTube and "DeepF---ingValue" on Reddit, was one of the key players in the 2020 and 2021 澳洲幸运5开奖号码历史查询:meme-stock craze. Gill recently began posting again after൲ a roughly three-year hiatus, sending GameStop shares surging and contributing to the stock's volatility.

GameS🌳top shares, which closedﷺ 47.5% higher Thursday, were down more than 28%. They have more than doubled this year, however.

-澳洲幸运5开奖号码历史查询:Naomi Buchanan

Stocks Making the Biggest Moves in Early Trading

Gains:

Lyft (LYFT): Shares rose 6%, continuing Thursday's gains after the ridesharing company 澳洲幸运5开奖号码历史查询:gave an optimistic long-term outlook at its first investor day.

Robinhood Markets (HOOD): Shares extended their gains and were up 1.2% after the online trading platform 澳洲幸运5开🎐奖号码历史查询:announced its acquisition of Bitstamp, a European cryptocurrency exchange𓃲, on Thursday.

Losses:

Docusign (DOCU): Shares fell 8% even as the 澳洲幸运5开奖号码历史查询:e-signature and do🌳cument management company posted top- and bottom-line results that beat analysts’ forecasts.

GameStop (GME): Shares, which have been halted twice this morning, dropped 6% after the video-game retailer unexpectedly issued results and announced plans to sell more stock for the second time in澳洲幸运5开奖号码历史查询: less than a month. The release came just hours before a澳洲幸运5开奖号码历史查询: YouTube livestream that meme-stock influencer澳洲幸运5开奖号码历史查询: Keith Gill has scheduled for noon ET Friday.

Nvidia (NVDA): Shares in the AI star fell 1.3% ahead of the chip designer’s 10-for-1 stock split 澳洲幸运5开奖号码历史查询:after market close, with split-adjusted trading to begin on Monday.

Stock Futures Fall

Dow futures were down 0.3% in premarket t🐲rading Friday.

S&P futures were down 0.4%.

Nasdaq futures were down 0.3%.