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S&P 500 Gains and Losses Today: Index Rises After Strong Start to Big Tech Earnings

Microsoft CEO Satya Nadella speaks during the Microsoft Build conference at Seattle Convention Center Summit Building in Redmond, Washington, on May 21, 2024

Jason Redmond / AFP / Getty Images

Key Takeaways

  • The S&P 500 advanced 0.6% on Thursday, May 1, securing its eighth straight winning session as strong results from Microsoft and Meta helped boost tech stocks.
  • Microsoft shares surged after the software giant topped quarterly forecasts, touting strength in its cloud computing and AI businesses.
  • Shares of pharma firm Eli Lilly and chipmaker Qualcomm stumbled after both firms provided lackluster forward guidance.

Major U.S. equities indexes pushed higher on Thursday after strong quarterly earnings reports from software giant Microsoft (MSFT) and Facebook parent Meta Platforms (META) helped alleviate some concerns ab💮out the possible impact of t🐼ariffs on big technology companies.

The S&P 500 jumped 0.6%, extending its winning streak to eight consecutive trading sessions. The Dow added 0.2%, while a strong day forﷺ the tech sector helped lift the Nasdaq 1.5%. 

Shares of heating, ventilation, and air conditioning (HVAC) company Carrier Global (CARR) soared 11.6% to log the S&P 500's top performance on Thursday. The gains followed a 澳洲幸运5开奖号码历史查询:strong quarterly report that saw ♔Carrier top sales and profit estimates while boosting its full-year outlook.

Quanta Services (PWR) shares jumped 9.9% after the provider of electric and utility contracting services also posted better-than-expected top- and bottom-line results for the first quarter of 2025. Quanta touted an improvement in pro🎶fitability in its Electric Infrastructure Solutions and its Underground and Infrastructure Solutions segments, which the company said suggested resilience and adaptability in the face of shifting market conditions.

Microsoft's sales and profits for its fiscal third quarter also 澳洲幸运5开奖号码历史查询:exceeded analysts' forecasts, and shares of the tech behemoth surged 7.6%. The company highlighted dynamic growth in its Intelligent Cloud segment, home to its Azure cloud computing business. The firm's chief financial officer (CFO) also discussed the promising trajectory for artificial intelligence (AI) demand and affirmed Microsoft's plans for $80 billion in infrastructure spending throughout fiscal 2025.

Medical device manufacturer Becton Dickinson (BDX) reduced its full-year profit forecast, citing the potential impact from tariffs imposed by the Trump administration. Its shares plunged 18.1%, losing the most of any S&♋;P 500 stock. Following the guidance cut, analysts at a variety of research firms downgraded Becton Dickinson stock, citing inconsistencies in the company's execution and a lack of confidence in its ability to drive growth.

Eli Lilly (LLY) topped sales and profit estimates with its first-quarter results, driven by strong sales of its GLP-1 weight loss and diabetes treatments. However, the pharmaceutical giant also 澳洲幸运5开奖号码历史查询:cut its full-year profit guidance, reflecting a charge related to its acquisition of a cancer treatment. Shares of Eli Lilly dropped 11.6% on Thursday.

Underwhelming guidance also weighed on shares of semiconductor giant Qualcomm (QCOM), which sank 9.0%. While the chipmaker topped sales and profit estimates for its fiscal second quarter, its sales forecast for the 澳洲幸运5开奖号码历史查询:current quarter came in below expectation💜s. The company downplayed the potential impact of tariffs.

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