Nvidia, Microsoft, Trump Media, Sarepta, Palantir, Hertz, Smith & Wesson, and More Market Movers
Stocks were up slightly Friday as a rally, driven by artificial technology and in particular
Nvidia
,
cooled as the trading week drew to a close.
was falling 2.1% after shares declined 3.5% on Thursday and the chip maker relinquished its crown as the world’s most valuable company to
Nvidia’s forward price-to-earnings multiple has expanded to 45 from roughly 25 at the end of last year. The level of outperformance against the wider stock market has led to concerns that any stumble could lead to a sharper drop.
Microsoft was rising 0.8% on Friday to $449.31. Analysts at Citi raised their price target on
to $520 from $495 and maintained their Buy rating.
Apple
,
which has been jostling with Nvidia and Microsoft as the most-valuable company, rose 0.3% on Friday.
Trump Media & Technology Group
was falling 5.1%. The parent company of former President Donald Trump’s Truth Social platform has declined for six straight trading sessions, losing about 38% over that span. The Securities and Exchange Commission this week signed off on the company’s registration statement and on the resale of shares and warrants.
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surged 33% after saying the Food and Drug Administration approved an expansion to the indications for Elevidys, the company’s treatment for Duchenne muscular dystrophy. Sarepta said the drug was approved for ambulatory and non-ambulatory people, who are at least 4 years old, and with a confirmed mutation in the DMD gene.
was up 13% after the rental car company raised the size of its bond offering to $1 billion.
has been looking to accelerate the rotation of its fleet. Hertz reported a steeper-than-expected quarterly loss in April, largely because it bought too many electric vehicles at too high a price.
was rising 2.2%, extending Thursday’s rally, after the biopharmaceutical company said a Phase 3 trial of its twice-yearly HIV prevention treatment was found to be 100% effective.
said fourth-quarter sales at the gun maker rose 9.9% from a year earlier and CEO Mark Smith said the company continues to “expect healthy demand overall for firearms in fiscal 2025.” But the stock fell 11% after Chief Financial Officer Deana McPherson told analysts on a conference call that the company expects first-quarter sales to be down about 10% “from the prior year quarter in terms of units and dollars as growth in long guns partially offsets a decline in handguns.”
fell 5.8% to $24.07 after analysts at Monness Crespi downgraded shares of the software company to Sell from Neutral with a $20 price target. Analyst Brian White said
Palantir
’s
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valuation “has now reached a gluttonous extreme.”
reported first-quarter earnings that beat analysts’ estimates but comparable-store used unit sales fell 3.8% in the period. Shares of the used-car retailer rose 0.8%.
was up 3.4% after posting fiscal third-quarter earnings that topped expectations. The provider of analytics and data products said revenue rose 4.3% to $552.7 million.
Write to Joe Woelfel at joseph.woelfel@barrons.com
