Tech weighs down stocks as investors digest Nvidia’s earnings
Most constituents of the S&P 500 rose, but tech, which was the worst-performing sector, dragged down the S&P 500 and Nasdaq 100.
The S&P 500 and Nasdaq 100 fell while the Russell 2000 gained as investors digested Nvidia’s earnings beat. Despite a massive sales outlook, Nvidia and chip stocks dipped as concerns about hyperscalers’ capex binge lingered.
Most constituents of the S&P 500 rose as the Invesco S&P 500 Equal Weight ETF advanced, but tech, which was the worst-performing sector, weighed on the S&P 500 and Nasdaq 100. The financials sector fared the best.
Stocks that moved higher:
Paramount Skydance was the best performer in the S&P 500 today despite reporting underwhelming fourth-quarter earnings after the bell on Wednesday as Warner Bros. Discovery continued to evaluate its $31-per-share offer. Warner Bros. reported a deeper-than-expected Q4 loss before the bell this morning.
JM Smucker was also a top performer in the benchmark index as coffee price hikes spurred better-than-expected earnings. The company also struck an agreement with activist investor Elliott Management to add two new directors.
Sezzle spiked after posting strong quarterly results and guiding above analyst expectations for fiscal year 2026.
IonQ skyrocketed after a big Q4 revenue beat and better-than-expected sales guidance.
Imax soared as the box office success of “Avatar: Fire & Ash” drove record revenue in Q4 and better-than-expected earnings per share.
Celsius rose after crushing earnings expectations with a record sales year.
Sony climbed following the expansion of its buyback plan to $1.6 billion.
D-Wave Quantum rose despite reporting underwhelming Q4 results.
Salesforce traded higher after posting an earnings beat after the bell yesterday, in which CEO Mark Benioff shaded rivals and name-dropped customers.
Nutanix spiked on news that Advanced Micro Devices will buy $150 million in stock as part of new strategic partnership between the two companies.
Sandisk traded higher following news of a partnership with SK Hynix to standardize memory chip architecture tailored for AI data centers.
Stellantis rose as its announced it will return to profitability, thanks to popular gas-powered vehicles like the Jeep Cherokee and Hemi V8 Ram 1500.
Air taxi maker Joby Aviation climbed after posting a smaller loss and larger cash pile than expected in Q4 after the bell yesterday.
Stocks that moved lower:
Array Technologies tumbled after its full-year adjusted EBITDA outlook fell short of estimates.
C3.ai cratered after cutting revenue guidance.
Zoom slumped on a weaker-than-expected profit outlook.
Baidu slipped as revenues fell 4%, the company’s third consecutive quarterly decline.
PayPal dropped after Semafor reported that Stripe is not currently in talks to buy the company.
The Trade Desk sank on weak Q1 sales guidance.
