Markets
Nia Warfield

Stocks end mixed as investors digest weak 30-year bond auction and new tariffs

Stocks were mixed Thursday, under some pressure after a weak 30-year Treasury auction and fresh trade noise as President Trump announced plans for new chip tariffs, which included exemptions for companies building in the US.

The S&P 500 slipped 0.08%, but closed well off session lows. Meanwhile, the Nasdaq 100 reversed off lows of the day to finish 0.32% up. The Russell 2000 fell 0.30%.

Utilities and consumer staples led S&P 500 sector ETFs, while financials and healthcare lagged — dragged down by names like Eli Lilly, which reported disappointing trial results for its next-gen weight-loss pill despite crushing earnings expectations.

Gains on the day were led by AppLovin, which jumped 12% after the ad tech firm initially failed to impress traders with earnings after the bell yesterday. Declines were led in part by Airbnb, which fell 8% after the home-share giant topped Q2 estimates on Wednesday but warned of a slower back half of the year. 

Elsewhere…

Joby Aviation shares fell another 9% after the air taxi company reported a worse-than-expected loss for the second quarter on Wednesday.

Duolingo shares rallied 13% after the language-learning company soundly beat Q2 estimates and raised both its full-year and third-quarter sales guidance.

Sunrun skyrocketed 32% after the energy storage and solar panel provider reported a surprise second-quarter profit and record customer demand for its energy storage systems.

Celsius shares popped 17% after the energy drink maker reported Q2 revenue of $739 million, blowing past analysts’ expectations of $652 million as its market share picks up.

Peloton jumped as much as 22% premarket before closing flat after the connected fitness company topped Q4 estimates and announced a cost restructuring plan to save at least $100 million in run-rate savings.

Apple shares jumped 3% after President Trump said “companies like Apple,” including other firms that build in the US, will avoid 100% chip tariffs.

NRG shares rose 3% after the power producer and energy trader’s adjusted earnings fell short of Wall Street estimates, while GAAP results swung to a surprise loss.

Hertz soared 7.7% after the car rental company reported a better-than-expected adjusted loss for the second quarter and its first positive adjusted corporate EBITDA in seven quarters.

Sony shares traded 4.5% higher after the company raised its full-year operating profit forecast, thanks to a smaller-than-expected tariff hit and strong performance in its gaming division.

DoorDash shares rose 5% after the food delivery giant topped Q2 estimates and posted its fourth consecutive profitable quarter.

Crocs shares sank 29% after the funky foam clog maker beat second-quarter estimates but offered a murky outlook as demand cools in North America, its key market.

Bumble shares fell 15% after the dating company reported a surprise loss in the second quarter after the bell Wednesday and has struggled to spark sales growth in recent years.

D-Wave Quantum dropped 2.3% after the Palo Alto-based quantum computing firm reported mixed second-quarter results, driven by a $142 million rise in the fair value of its warrant liabilities.

Intel fell 3% after President Trump posted on his social media platform, Truth Social, that CEO Lip-Bu Tan “is highly CONFLICTED and must resign, immediately.”

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markets
J. Edward Moreno

FDA says it will take “decisive steps” against GLP-1 compounders, HHS refers Hims to DOJ for investigation

The Food and Drug Administration said it would take "decisive steps" to restrict GLP-1 compounding, a day after Hims & Hers announced that it would sell copies ofNovo Nordisk’sWegovy pill.

The FDA specifically called out Hims in the announcement. Additionally, Department of Health and Human Services' General Counsel Mike Stuart said in a post on X on Friday he has referred Hims to the Department of Justice "for investigation for potential violations by Hims of the Federal Food, Drug, and Cosmetic Act and applicable Title 18 provisions."

In a statement, Hims said the company "has always operated with a deep commitment to the safety and best interests of consumers and in compliance with applicable law."

"We have a long history of successfully working with regulators, and look forward to continuing to engage with the FDA to ensure safe access to affordable healthcare," they said.

This marks a significant shift in tone from the FDA, which has done little to prevent companies like Hims from marketing copies of Novo's lucrative weight loss drugs.

Shares of Hims fell 14% after hours. The stock had already taken a hit after FDA Commissioner Marty Makary said in an X post on Thursday that the agency would “take swift action against companies mass-marketing illegal copycat drugs.”

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Hims, long flying under regulators’ radar, finally strikes a nerve with its Wegovy pill copy

Hims, long flying under regulators’ radar, finally strikes a nerve with its Wegovy pill copy

The FDA specifically called out Hims in the announcement. Additionally, Department of Health and Human Services' General Counsel Mike Stuart said in a post on X on Friday he has referred Hims to the Department of Justice "for investigation for potential violations by Hims of the Federal Food, Drug, and Cosmetic Act and applicable Title 18 provisions."

In a statement, Hims said the company "has always operated with a deep commitment to the safety and best interests of consumers and in compliance with applicable law."

"We have a long history of successfully working with regulators, and look forward to continuing to engage with the FDA to ensure safe access to affordable healthcare," they said.

This marks a significant shift in tone from the FDA, which has done little to prevent companies like Hims from marketing copies of Novo's lucrative weight loss drugs.

Shares of Hims fell 14% after hours. The stock had already taken a hit after FDA Commissioner Marty Makary said in an X post on Thursday that the agency would “take swift action against companies mass-marketing illegal copycat drugs.”

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Tasha Matsumoto
2/6/26
Tech rebound propels stocks to best day since May

The S&P 500, Nasdaq 100, and Russell 2000 all climbed higher as the AI trade was back on.

Chicago Bulls Dennis Rodman (91) and Michael Jordan (23) in action, rebounding vs Charlotte Hornets
Max Knoblauch

Airlines rise, continuing their volatile 2026, as US-Iran talks may foreshadow some oil supply relief

Airline stocks are surging on Friday, as the market appears to be pricing in some medium-term oil pricing relief following talks between the US and Iran. Iranian officials referred to the meeting as “a good beginning.”

Shares of budget carriers, which have tighter margins and are more sensitive to fluctuations in fuel costs, are leading the surge. Frontier Airlines and Allegiant up more than 13%, while major airlines like United Airlines, American Airlines, and Delta Air Lines are also up at least 6%. JetBlue and Alaska Air are similarly up about 6%.

The market more broadly is rebounding on Friday, with the S&P 500 up 1.6% and bitcoin recovering some of this week’s losses.

Airlines have been volatile to start 2026 amid geopolitical tensions, varying annual forecasts, and the impact of winter storms.

markets
Luke Kawa

The AI supply chain is soaring thanks to Amazon’s capex budget

If tech companies are going to spend way more than expected on capex, well, that means other companies are poised to benefit from that massive spending spree.

Amazon’s plan for $200 billion in business investment this year was the exclamation point to end a reporting period that saw every Magnificent 7 hyperscaler that provides guidance offer a 2026 capex budget well above what Wall Street had anticipated.

Here’s a look at the different parts of the supply chain that are soaring on the persistent demand for, and seeming scarcity of, AI compute:

Big Tech capital expenditure soared in 2025. It’s going up another 50% in 2026.

Big Tech capital expenditure soared in 2025. It’s going up another 50% in 2026.

Here’s a look at the different parts of the supply chain that are soaring on the persistent demand for, and seeming scarcity of, AI compute:

markets
Matt Phillips

For memory chips, the “parabolic price hike” is continuing to ramp higher

The remarkable run-up in prices for memory chips continued into early February, analysts at Bernstein Research say, driven largely by data center demand from hyperscalers and cloud service providers (CSP).

Prices for NAND flash memory wafers — a type of memory used in devices, as it retains data even when powered down — soared 35% between the end of 2025 and February 2.

Spot prices for DRAM — ubiquitous short-term data storage chips — jumped about 28% in that period. But that massively understates the remarkable shift in pricing for what were long seen as commodity tech hardware inputs. DRAM prices are more than 2,000% over the last year, while NAND prices are up more than 600% in that period.

The ongoing momentum provides still more support for memory chip plays like Micron and Sandisk, which have been big market winners in recent months.

In a note published earlier this week, Bernstein Research analysts wrote:

“The parabolic price hike continued in Jan. Indicated price increase for 1QCY26 is much stronger than we expected and we hence see upside to our near term memory pricing projection. Unrelenting CSP demand remained the main driver. PC and Mobile demand hasn’t been destroyed yet because of lean inventory & pull-forward purchase. Going forward price hike is expected to continue but likely at a slower rate, as PC and Mobile demand should contract meaningfully this year. Price however may stay elevated throughout this year, supported by CSP demand.”

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