Nia Warfield, Luke Kawa

4/25/25

Magnificent 7’s best week since January 2023 powers US stocks higher

Megacap tech carried US stocks higher on Friday, as they did for the week as a whole. Markets had a midday jitter after President Donald Trump reiterated that he won’t unilaterally drop tariffs on China, but then shrugged off his mixed messages to finish at or near their highs of the day.

The S&P 500 rose 0.7%, the Nasdaq 100 gained 1.1%, and the Russell 2000 brought up the rear, going flat.

The Magnificent 7 Index and Nasdaq 100 are now less than 1.5% shy of levels seen before the Rose Garden tariff announcements. The Mag 7 cohort had its best week since January 2023, rising 9.1%.

Alphabet shares ticked higher after the Google parent topped Q1 earnings estimates and highlighted strong engagement for its new AI-powered features. Tesla jumped nearly 10% after US transportation officials rolled out a national framework to fast-track government use of self-driving cars.

Meanwhile, more earnings continued to roll out:

Charter led S&P 500 performers after the broadband and pay-TV provider lost fewer subscribers than expected in Q1 and topped revenue estimates.

Pure-play wireless provider T-Mobile slid more than 7% after the company missed its Q1 subscriber growth targets, despite dropping a solid earnings beat and raising its full-year forecast.

AbbVie climbed higher after the pharma giant raised its 2025 profit outlook and posted a Q1 sales beat, though demand for its popular Botox and Juvederm face-filler treatments came in below estimates.

Colgate-Palmolive shares slipped after the consumer staples behemoth trimmed its full-year forecast and warned tariffs could add $200 million to costs in 2024.

Meanwhile, Intel continued to slide after the chipmaker warned it wouldn’t deliver earnings per share in Q2, and projected sales of $11.2 billion to $12.4 billion, also missing estimates.

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Nia Warfield, Luke Kawa

S&P 500 goes nowhere, Nasdaq 100 hits another record, small-caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

Horse Ranch In Zhangye

markets

14h

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

Matt Phillips16h

markets

17h

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks.

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

markets

18h

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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