Markets
Nia Warfield, Luke Kawa
5/15/25

S&P 500 shakes off down day for tech heavyweights to finish higher

In a case of opposite day, the lesser-runs of the S&P 500 powered the market higher while the heavyweights broadly retreated on Thursday. The benchmark US stock index closed up 0.4%, the Nasdaq 100 eked out a 0.1% gain, and the Russell 2000 led the way with a 0.5% advance.

Contrary to Wednesday, the S&P 500’s advance-decline line was tilted decidedly to the upside, with gainers outnumbering fallers by 247. Every S&P 500 sector ETF traded higher save for consumer discretionary, with defensive sectors like utilities and consumer staples topping the leaderboard.

Cisco helped lead the day’s gains, jumping nearly 5% after the networking products company posted a Q3 solid earnings report, exceeding analysts’ expectations on the top and bottom lines. Meanwhile, UnitedHealth shares tumbled 11% after The Wall Street Journal reported that the US Department of Justice is investigating the healthcare giant for possible Medicare fraud, the latest in a series of stumbles for the company.

Walmart shares slipped as much as 3%, but ended the day flat as investors balanced the company’s solid Q1 earnings beat with the warning that price hikes are on the way.

Meta slumped to session lows late in the trading day after The Wall Street Journal reported that it’s delaying the release of its Llama 4 AI model.

Birkenstock shares climbed nearly 6% after the popular German footwear company beat earnings estimates for the second quarter and raised its full-year outlook.

Alibaba shares fell 7.5% after the Chinese e-commerce giant missed revenue and profit expectations for the fourth quarter amid ongoing consumer weakness in the country.

NetEase, one of China’s largest video game companies, rallied 14% after the company topped earnings estimates thanks to strong game sales and a 35% boost in net profit.

Meanwhile...

Foot Locker shares sprinted over 85% after Dick’s Sporting Goods announced a massive $2.4 billion takeover offer for the struggling sneaker retailer. Dick’s shares, however, fell nearly 15%.

Coinbase’s stock fell 7% after the crypto exchange said it would pay between $180 million and $400 million to customers following a data breach from an “unknown threat actor.”

Shares of CoreWeave surged as much as 11% before closing down 2%, despite posting better-than-expected sales during its inaugural quarterly earnings report.

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markets
Nia Warfield
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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 ending August 31 saw 17.8 million guests, up about 2% from the same stretch in 2024, 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 around 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 extended 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 around 52% year-to-date.

markets
Max Knoblauch
3h

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.

markets
J. Edward Moreno
3h

Moderna, Pfizer dip after WaPo reports Trump officials’ plan to link Covid vaccines to child deaths

Vaccine makers are falling after The Washington Post reported that the Trump administration plans to link the coronavirus vaccine to 25 child deaths.

Moderna and Pfizer, the two companies who sell the vaccine in the US, fell by more than 5% and 2%, respectively. The coronavirus vaccine is virtually the only revenue driver for Moderna, while Pfizer has a larger and more diverse portfolio.

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Trump officials to link child deaths to covid shots, alarming career scientists

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Concerns about rising government debt are not strictly an American problem

Global government debt piles are swelling to record levels. That’s an issue for many nations, but developing countries may be most at risk.

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