S&P 500 Gains and Losses Today

Here are the S&P 500 companies that gained and lost the moꦬst today.

Dow Drops for F💟ourth Straight Session to ꦕEnd Week Lower

The Dow Jones Industrial Average wasn’t able to hold on to early gains and lost 0.3%, or about 106 points, today. It was the fourth-straight losing session for the Dow and brought its weekly return to -1.9%𓂃. 

UnitedHealth Group (UNH) gained 1% to be the top-performing component in the Dow 30 for the second consecutive session.

Shares of Chevron (CVX) gained nearly 0.7% after workers at the company’s 澳洲幸运5开奖号码历史查询:liquified natural gas (LNG) projects in Australia en♐ded their strike after both the union and Chevron accepted terms proposed by the country’s industrial ar🎉bitrator. 

Apple (AAPL) shares gained about 0.5% on the 澳洲幸运5开奖号码历史查询:release of its new iPhone 15 models, which went on sale 🍨in 40 countrie⭕s around the world today.

Cisco Systems (CSCO) shares moved up about 0.4%, rebounding from losses it suffered yesterday after announcing it would buy 𝄹澳洲幸运5开奖号码历史查询:cybersecurity software co🅘mpany Splunk (SPLK). 

The Walt Disney Company (DIS) dropped 1.8% after a tꦛwo-day bout of “encouraging” negotiations with striking Hollywood writers ended without a deal.

Shares of Intel (INTC) fell by 1.4% after the European Union hit the chipmaker with a $400 m𝓀illion anti✤trust fine in a long-running legal fight. 

Microsoft (MSFT) shares fell nearly 0.8% despite 🐠澳洲幸运5开奖号码历史查询:wi𓆏nning preliminary approval from U.K. regulators for its deal to acquire video game maker Activision Blizzard (ATVI), which gained 1.8% on the news. 

Goldman Sachs (GS) dropped 0.7% after it was fined $6 million by the 澳洲幸运5开奖号码历史查询:Securities and Exchange Commission on changes it 澳洲幸运5开奖号码历史查询:violated “blue sheet data” rules.

-Terry Lane

Go﷽ldman Fi✃ned $6 Million by SEC for Submitting Incomplete Trading Data

The Securities and Exchange Commission (SEC) fined investment bank Goldman Sachs (GS) $6 million Friday to settle charges it sup♎plied th🉐e agency with incomplete and inaccurate trading information.

The SEC accused Goldman Sachs of submitting more than 22,000 deficient 澳洲幸运5开奖号码历史查询:blue sheets over a period of about 10 years.

Market maker Citadel Securities was also fined by the SEC Friday for providing it w﷽ith inaccurate information. The firm agreღed to pay $7 million to settle the charges.

Goldman Sa𒐪chs🍸 shares were down 0.7% in late trading Friday.

Taking the Temperature of the IPO Market

Markets have been abuzz with excitement the lꦺast two weeks: IPOs are back. 

That was the takeaway when chip designer Arm Holdings (ARM) debuted last week and 澳洲幸运5开奖号码历史查询:soared 25% on its firღst day of trading. The success of Instacart’s (CART) IPO earlier this week, which 澳洲幸运5开奖号码历史查询:closed 12% higher on its first day, gave investors more confidence. Then—the cherry on top—marketing software firm Klaviyo (KVYO) 澳洲幸运5开奖号码历史查询:debuted Wednesday and closed 9% above its IPO price.

The problem: All three have given up almost all of those gains. Arm is trading just under its IPO price of $51. Instacart s🎃hares trade at $30, exactly its IPO price. And Klaviyo, on its third day of trading, is down 2% to $33, modestly above its $30 IPO price. 

Admittedly, it's early and this week's been rough for most stocks. But these three debuts were supposed to usher in a flurry of IPO activity after 2022's drought. Investors are looking beyond their first day to judge their success and, so far, things aren’t looking great.

Seagen-Merck Bladder Cancer Treatment Sho🦂ws Positive Result♎s; Seagen Shares Jump

Biotechnology company Seagen Inc. (SGEN) and Tokyo-based Astellas Pharma Inc. on Friday 澳洲幸运5开奖号码历史查询:reported pos♎itive results from a Phase 3 trial of their experimental bladder cancer medicine, Padcev, in combination with Merck’s (MRK) Keytruda.

The study was intended to serve as a basis for global regulatory submissions and as a confirmatory trial for accelerated approval from the U.S. 澳洲幸运5开奖号码历史查询:Food and Drug Administration (FDA).

After the news was reported, shares of Seagen rose 4% to an all-time high. Merck share♑s were little changed at midday Friday.

-Bill McColl

Midday Market Movers

Western Digital Corp. (WDC): Shares of the data storage device maker ro𒐪se 3% on reports it could be preparing to merge its flash memory business with Japan’🔯s Kioxia Holdings.

Broadcom Inc. (AVGO): Shares gained more than 2% after Google yesterday denied reports that it🥀 is planning on dropping the chip company as a supplier.

Ford Motor Co. (F): The automaker’s shares rose more than 2% after it was spared in the 澳洲幸运5开奖号码历史查询:United Auto Workers’ escalation of their strike against Detroit’s Big Three.

Scholastic Corp. (SCHL): The publ𝔍isher’s shares sank 14% after reporting a wider-than-expected loss a𒈔nd missing Wall Street’s sales estimates in the most recent quarter. 

Paramount Global (PARA): Shares of the entertainment company lost more than 4% after two days of talks between studio executives and writers union negotiators ended without a deal. Participants had been hopeful the two sides could come to an agreement yesterday that would end the months-long writers' strike. Warner Bros Discovery (WBD) fell 3% and Disney (DIS) lost 1%.

AstraZenec🦂a Shares Rise After Reporting Po🅘sitive Results in Breast Cancer Drug Trial

AstraZeneca (AZN) shares rose 2% Friday morning after it reported its experimental breast cancer treatment made with Japanese partner Daiichi Sankyo🐈 showed positive hi𓆏gh-level results in a Phase 3 trial.

AstraZeneca reported that its datopotamab deruxtecan (Dato-DXd) demonstrated “a statistically significant and clinically meaningful improvement in progression-free survival” for patients with inoperable or metastatic hormone receptor breast cancer who received other treatments.

Th🍃e companies noted that plans for global regulatory submissions were🦋 underway. They’re also researching the possibility of Dato-DXd as a treatment for lung cancer.

-Bill McColl 

Ads Are Coming to Amazon Prime Video

Amazon (AMZN) on Friday said Prime Video shows and movies will 澳洲幸꧑运5开奖号码历史查询:have limited advertisemen༺ts starting in 2024, as the company seeks to boost profitability and continue investing in the platform.

It's a move that could help raise the profitability of Prime Video, as the company plans to introduce an ad-free viewing option priced at $2.99 a month, a rate below ad-free options from competing platforms Netflix (NFLX), HBO Max, Disney+, and Paramount+.

By comparison, standard ad-free plans from Netflix and Warner Bros. Discovery's (WBD) HBO Max cost $15.49 and $15.99 per month, respectively.

Amazon shares jumped more than 1.5% in early trading as of 11:30 a.m. ET on Friday, but were down close to 7% for the week. They've surged more than 50% so far this year.

-Mack Wilowski

UAW Expands Strike Against GM and Sꦗtellantis, But Not Ford

The United Auto Workers (UAW) on Friday expanded its targeted strike against two of Detroit's Big Three automakers, General Motors (GM) and Stellantis (STLA), while sparing Ford (F).

The union called on workers at 38 GM and Stellant🍬is parts distribution centers to walk off the job today.

Union leader Shawn Fain said on a livestream with union members that there's more work to be done with Ford, but "we do want to recognize that Ford is serious about reaching a deal."

Shares of Ford were up more than 3% Friday morning, while GM and Stellantis e🦄ach rose about 1%.

UK Regulator Gives Pre🐻liminary Approval of Mo🥃dified Microsoft-Activision Deal

Antitrust regulaওtors in the U.K.🐬 provisionally approved Microsoft's (MSFT) 澳洲幸运5开奖号码历史查询:restructured deal to acquire Activision Blizzard (ATVI) on Friday, tentatively allowing what would be ꦯthe biggest🐷 gaming deal ever to go ahead.

While the Competitions and Market Authority (CMA) has tentatively approved the revised deal, regulators still have "limited residual concerns that certain provisions in the sale of Activision’s cloud streaming rights to Ubisoft could be circumvented, terminated, or not enforced."

The CMA said it will 🥂consult with Microsoft on these concerns before♋ reaching a final decision by Oct. 6.

Microsoft and Activision Blizzard have until O💜ct. 18 to close the acquisition or extend the deadline.

-Fatima Attarwala

Stocks Making the Biggest Moves Premarket

Gains:

• Chinese Stocks: The shares and 澳洲幸运5开奖号码历史查询:American depositary receipts (ADRs) of Chinese companies listed on U.S. exchanges rose across the board after a report suggested Chinese authorities are considering loosening restrictions on foreign ownership of domestic publicly traded companies. Alibaba (BABA), Pinduoduo (PDD), (JD), and Baidu (BIDU) all rose about 4%. 
• eBay Inc. (EBAY): Shares of the classifieds company rose more than 2% after private equity firms Blackstone and Permira offered to buy Adevinta ASA, a Norwegian company of which eBay is the largest shareholder, for $12 billion. 
• Activision Blizzard Inc. (ATVI): Shares gained 2% after U.K. regulators tentatively accepted Microsoft’s proposal to acquire the video game maker, possibly clearing the final obstacle to closing the deal that was announced nearly two years ago. Microsoft (MSFT) shares were up 0.5% premarket.
• Amazon.com Inc. (AMZN): Shares gained after the company said it was introducing an ad-supported tier to its Prime Video streaming platform, following the lead of rivals Netflix (NFLX) and Disney (DIS).

Losses:

• Scholastic Corp. (SCHL): Shares fell more than 15% after the publisher reported revenue declined 13% in the first quarter of its 2024 fiscal year. It also reported its quarterly losses widened to $74 million from $45 million a year ago.
• ING Group NV (ING): Shares of the Dutch bank fell 5% after the Netherlands’ lower house of parliament approved raising taxes on banks and levying a tax on share buybacks.

5 Things to Know Before Markets Open

Here's 澳洲幸运5开奖号码历史查询:what investors need to know to start their day:

1. Antitrust regulators in the U.K. released a preliminary decision accepting a modified deal for Microsoft's (MSFT) proposed $75 billion acquisition of Activision Blizzard (ATVI).
2. The United Auto Workers is threatening to expand its strike against the 澳洲幸运5开奖号码历史查询:Detroit “Big Three” automakers today if a deal is not reached, an outcome that observers said was likely.
3. Apple (AAPL) will begin selling the 澳洲幸运5开奖号码历史查询:iPhone 15 and its other latest devices today in 40 countries around the world, including the U.S., U.K., China, France, and Australia.
4. Stelco Holdings, Canada’s largest maker of steel, is reportedly working on a bid for United States Steel Corp. (X),  adding to the list of companies looking to acquire what was once the world’s largest company.
5. At 9:45 a.m. ET, the S&P flash U.S. services 澳洲幸运5开奖号码历史查询:Purchasing Managers’ Index (PMI) is expected to show an increase to a reading of 50.7 in September from August’s 50.5 reading, while the S&P flash U.S. 澳洲幸运5开奖号码历史查询:manufacturing PMI is projected to climb to 48.3 in September from 47.9 the month prior.

-Terry Lane

Stock Futures Up, Recovering a Fraction of This Week's Big Losses

Futures contracts connected to the 𒁃Dow Jones Industrial Average🎉 were up 0.2% in premarket trading.

S&P 500 futures gained 0.3%.

Nasdaq 100 contracts rose 0.6%.