Markets rally as SCOTUS looks likely to weigh against tariffs and hope rises for end to US government shutdown

Markets bounced back from a rough Tuesday to finish higher on Wednesday.

11/5/25 4:02PM

US stocks regained momentum on Wednesday as the Supreme Court weighed Trump’s tariffs, sending a bevy of tariff-sensitive stocks higher. The president also signaled heightened urgency to end the US government shutdown, buoying the S&P 500 and Nasdaq 100 to solid gains, while the Russell 2000 outperformed.

Stocks that moved higher:

Google rose on the news that Apple will pay it $1 billion a year to use the search giant’s AI model for Siri.
Rivian had its best day since January following the EV maker hyping its next SUV during its earnings call.
Airlines took flight on hopes that the US government shutdown might soon be over, lifting Delta Air Lines, United Airlines, and American Airlines.
Qualcomm erased Tuesday’s losses and then some just a few hours before the company was slated to release quarterly results.
Nebius gained after launching a Token Factory platform to offer access to inference compute using open-source models, adding breadth to the AI boom.
AMD turned losses into gains Wednesday after reporting a Q3 top- and bottom-line beat and Q4 sales guidance ahead of estimates aftermarket on Tuesday.

Stocks that moved lower:

Axon dropped after it reported earnings after the bell on Tuesday that widely missed expectations. The company, which was once a top Trump trade, blamed tariffs for a large part of the earnings miss.
Pinterest sank after reporting weak revenue guidance and adjusted earnings per share that missed analyst estimates by 10%.
Super Micro Computer plunged as Wall Street hated its trade-off of profitability for sales after its fiscal Q1 earnings report. Management delivered a much better Q2 sales outlook than analysts had anticipated, but also weaker-than-expected guidance for earnings per share.
Live Nation continued to fall on Wednesday after reporting earnings that bombed with investors after-hours on Tuesday, widely missing EPS estimates.
Arista Networks dove following its earnings report after the bell on Tuesday, as while it beat on earnings, its forward guidance disappointed.

J. Edward Moreno6h

Molina implodes after earnings miss, gloomy guidance

Molina Healthcare tanked after it reported earnings results that missed Wall Street expectations and gave disappointing full-year guidance.

For the last three months of 2025, Molina reported:

An adjusted loss per share of $2.75, compared to the $0.34 earnings per share analysts polled by FactSet were expecting. The company said about $2 per share of its earnings miss was due to “retroactive premium adjustments attributable to the Company’s Medicaid business in California and ongoing medical cost pressure in Medicare and Marketplace.”
Revenue of $11.3 billion, compared to the $10.8 billion the Street was penciling in.
A medical cost ratio of 94.6%, higher than the 93.1% analysts expected.

For the full year in 2026, Molina expects:

Adjusted earnings per share of at least $5.00, compared to the $13.66 analysts had forecast. Molina said its guidance takes into account ongoing losses in its traditional Medicare Advantage Part D business, which it now plans to exit in 2027.
Revenues of about $42.2 billion, compared to the $46.6 billion analysts had penciled in.
Its medical cost ratio to sit at 92.6%, while analysts had expected 91.4%.

Health insurers have been under pressure for the past year amid rising health costs. Molina, one of the largest providers of ACA Marketplace plans, has taken a hit as tax credits for the program lapsed in January.

Molina’s report also dragged down competitors, including Centene, which is also a major provider of ACA plans and reports earnings Friday morning.

Bloom Energy surges after topping expectations for sales, EPS

Here’s how the print looked at first glance.

Matt Phillips6h

Max Knoblauch6h

Roblox surges as it guides for stronger-than-expected full-year bookings, touts AI vision

Kid-centric gaming platform Roblox reported its fourth-quarter results after the market closed on Thursday. Its shares surged more than 20% in after-hours trading.

For the full year ahead, Roblox guided for bookings of between $8.28 billion and $8.55 billion, which would represent annual growth of 22% to 26%. That’s well ahead of Wall Street’s estimates: analysts polled by FactSet expected $8.03 billion.

Roblox forecasts Q1 bookings to land between $1.69 billion and $1.74 billion, compared to the $1.7 billion Wall Street consensus estimate.

An average of 144 million daily users logged on to Roblox in its fourth quarter, beating estimates of 138 million and up 69% from last year. The platform paid out $1.5 billion to creators last year, up from $922 million in 2024.

Roblox engagement surged in 2025, a year marred by several legal issues surrounding child safety on the platform. Late last year, analysts began to warn that some of its most popular titles were past their peak.

Recently, shares of the company have dropped on investor fears of Google’s Project Genie AI tool, which generates playable worlds. As of Thursday’s close, Roblox had shed more than $10 billion in market cap since Project Genie launched. On Wednesday, Roblox appeared to answer Genie’s release with the open beta launch of its own “4D” generative-AI tool. Roblox’s tool lets users generate objects made up of multiple working parts (e.g., a drivable car with spinning wheels) as opposed to static 3D objects.

In its letter to shareholders, Roblox said it was “innovating aggressively in AI to accelerate the creation of content, improve the safety of our platform, and fuel ongoing user engagement, discovery and monetization improvements.”

Jon Keegan

Amazon slides as it misses on Q4 earnings, gives downbeat profit guidance

The tech giant also forecast it would spend $200 billion on capex in 2026.