Stocks were mixed Thursday morning after two straight days of gains have taken major indexes back near all-time highs.
The S&P 500 and Nasdaq Composite were each up 0.2% in recent trading, while the Dow Jones Industrial Average slipped 0.2%. Stocks are coming off of two winning sessions after a rocky start to the week, as concerns about the possible impact of U.S. tariffs have subsided, while quarterly corporate results have been generally strong.
The Dow and S&P 500 entered Thursday’s session less than 1% away from their all-time closing highs, while the tech-heavy Nasdaq Composite is 2.4% below its record close.
Several noteworthy stocks were on the move this morning after the release of earnings reports. Eli Lilly (LLY) was up 4% after the drugmaker’s adjusted earnings were higher-than-expected while revenue came in soft. Ford (F) was down 6% after the automaker reported strong fourth-quarter results but issued a disappointing outlook. Qualcomm (QCOM) shares dropped 4% even as the chipmaker’s results topped analysts’ estimates, while chip designer Arm Holdings (ARM) slipped 3%.
Among other big post-earnings movers, tobacco company Philip Morris (PM) rose 10%, Hotel chain Hilton Worldwide (HLT) added 6%, fashion retailer Ralph Lauren (RL) jumped 13% and exercise equipment maker Peloton (PTON) soared 15%.
Shares of Dow component Honeywell International (HON) were down 6% after the conglomerate said it will split into three independent, publicly traded companies.
Large-cap tech stocks were mixed this morning. Microsoft (MSFT), Nvidia (NVDA), Amazon (AMZN) and Meta Platforms (META) were gaining ground, while Apple (AAPL), Alphabet (GOOGL), Tesla (TSLA) and Broadcom (AVGO) retreated. Amazon is due to release its quarterly results after the closing bell.
Investors are eagerly awaiting the January jobs report, which is scheduled for release before the opening bell on Friday. Market participants are looking for information that could affect the Federal Reserve’s decision-making on interest rates, and labor market data are among the key inputs for the central bank.
The yield on 10-year Treasurys, which is correlated with expectations about where interest rates are headed, was at 4.44% in recent trading, up from 4.42% at Wednesday’s close.
Bitcoin was at $97,00, down from an overnight high of $99,200. Gold futures were down 0.6% at around $2,875 an ounce, after hitting a record high yesterday, while WTI crude oil futures rose slightly.
Tapestry Hits Record High on Soaring Coach Sales
47 minutes ago
Tapestry (TPR) shares jumped to a record high Thursday as the owner of fashion retail brands set record holiday-quarter revenue and boosted its guidance on strong sales of its Coach products.
The parent of brands that also include Kate Spade and Stuart Weitzman reported fiscal 2025 second-quarter adjusted earnings per share (EPS) of $2.00, with revenue up 5% year-over-year to $2.20 billion. Both were above Visible Alpha estimates.
Coach sales soared 11% year-over-year to $1.71 billion, while sales at Kate Spade fell 10% to $416.4 million and they dropped 15% to $69.7 million at Stuart Weitzman.
The company said that during the period it advanced its strategic priorities, “resulting in accelerated revenue and adjusted EPS growth, and significant cash flow generation against a complex global economic and consumer environment.”
Tapestry now sees full-year 2025 EPS of $4.85 to $4.90 compared to the earlier $4.50 to $4.55. It anticipates revenue at $6.85 billion, about 3% above 2024 and ahead of the 1% to 2% growth it predicted in its previous outlook.
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Shares of Tapestry were up 12% recently at around $84, after touching an all-time high of $87.87 early in the session. The stock has doubled over the past year.
Supermicro Levels to Watch as Stock Continues Soaring
1 hr 46 min ago
Super Micro Computer (SMCI) moved sharply higher for the third straight day on Thursday.
The stock jumped yesterday as the embattled server maker announced that it’s ramping full production availability of its latest AI data center server solution. That followed news earlier in the week that the company plans to provide a second-quarter business update next Tuesday. Investors are eager to hear if the company remains on track to meet a Feb. 25 deadline given by the Nasdaq for submitting several delayed regulatory filings that are required to meet exchange listing requirements.
Supermicro shares have oscillated within a descending broadening wedge since mid-July last year, with the price tagging the pattern’s upper and lower trendlines on several occasions since that time. More recently, the stock has traded towards the top of the formation, raising the possibility of a breakout attempt.
In another win for the bulls, Wednesday’s jump occurred on the highest volume since early December, indicating buying conviction by larger market participants, such as institutional investors. It’s also worth pointing out that the relative strength index (RSI) climbed back above the 50 threshold, confirming improving price momentum.
Investors should eye crucial overhead areas on Supermicro’s chart around $34.50, $50, and $70.
The stock was up 7% at $33.70 in recent trading.
Read the full technical analysis piece here.
Eli Lilly Rises After Mixed Q4 Results
2 hr 32 min ago
Eli Lilly (LLY) shares moved higher in early trading after the drugmaker reported a better-than-expected adjusted profit even as revenue came in soft.
The company posted fourth-quarter revenue of $13.53 billion, compared with the $13.56 billion that analysts had expected, based on Visible Alpha data. After adjusting for one-time costs, Eli Lilly’s adjusted earnings per share (EPS) of $5.32 topped expectations of $5.11.
Sales of the company’s blockbuster weight-loss drugs Mounjaro and Zepbound grew to $3.53 billion and $1.91 billion, respectively, below expectations of $3.65 billion and $2.04 billion.
Eli Lilly said it expects 2025 revenue between $58.0 to $61.0 billion, with adjusted EPS of $22.50 to $24.00. Those ranges are largely in line with or above expectations.
The results come one day after rival Novo Nordisk (NVO), the Danish company behind weight-loss drugs Ozempic and Wegovy, topped estimates in its fourth-quarter report.
Eli Lilly shares were up 2% in the opening minutes of Thursday’s session.
Major Index Futures Inch Higher
3 hr 53 min ago
Futures tied to the Dow Jones Industrial Average were up 0.1% in recent trading.
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S&P 500 futures added 0.2%.
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Nasdaq 100 futures were up fractionally.
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