Key Takeaways
- The S&P 500 jumped 2.0% on Thursday, April 24, with surging tech stocks and hopes for thawing trade relationships helping drive a third consecutive day of gains.
- Enterprise software firm ServiceNow posted strong quarterly results, highlighting demand for its AI-enabled products, and its shares pushed higher.
- Shares of financial technology firm Fiserv dropped as softness in its point-of-sale and payment processing business weighed on results.
Major U.S. equities indexes gained ground for the third straight session. Although Trump administration officials have offered mixed comments on trade policy, this week's rally has coincided with increased optimism that negotiations could result in lower tariffs.
The S&P 50𝓰0 advanced 2.0%, while the Dow💝 ended 1.2% higher. Strength in the tech sector helped boost the Nasdaq, which soared 2.7%.
ServiceNow shares (NOW) jumped 15.5%, notching the top performance in the S&P 500, after the cloud-based enterprise software firm topped sales and profit forecasts 澳洲幸运5开奖号码历史查询:with its first-quarter results. ServiceNow indicated that tariffs, trade negotiations, and government efficiency effor🥂ts represent an opportun♕ity, rather than a headwind, for its products designed to help organizations automate and modernize their processes.
Hasbro (HAS) reported 澳洲幸运5开奖号码历史查询:better-than-expected sales and prof💃its for the first quarter, and shares of the toymaker surged 14.6%. The home to brands like Nerf and Play-Doh also maintained its full-year guidance, despite uncertainties about the potential impact of tariffs. In addition, Hasbro announced an extension of its licensing deal with Disney (DIS), meaning the company will continue producing toys for the entertainment giant's popular franchises such as Marvel and Star 𒊎Wars🐻.
Semiconductor manufacturer Microchip Technology (MCHP) unveiled a new power module designed to improve power management for data centers and industrial automation pro♔cesses. Microchip's new product aims to boost efficiency and minimize power loss with a compact solution𝕴 that requires less board space. Microchip shares advanced 12.4% on Thursday.
Shares of financial technology firm Fiserv (FI) plunged 18.5%, suffering the steepest drop of any S&P 500 constituent, following a mixed quarterly earnings report. Although profits topped expectations, revenue fell short of forecasts, reflecting slower growth♔ in the company's Clover point-of-sale business and lower payment processing activity in its merchant solutions segment. Fiserv also announced an agreement to acquire Brazilian fintech firm Money Money, aiming to supplement Clover's operations by providing financing to small businesses in the country.
Auto parts provider LKQ (LKQ) also missed quarterly sales estimates, and its shares skidded 11.6%. Adjusted earnings per sha🤡re (EPS) were down year-over-year, and LKQ reported negative free cash flow (FCF) during the period. Although the company left its guidance unchanged, it is monitoring possible tariff impacts, indicating that it formed a dedicated task force to evaluate potential challenges and opportunities related to the shifting global trade environment.
Although International Business Machines (IBM) posted better-than-expected quarterly sales and profits, the tech giant's top executive warned that 澳洲幸运5开奖号码历史查询:customers could rein in th🎃eir spending as they navigate economic uncertainty and transformations in government policy. IBM shares sank 6.6% on Thursday.