Top Stock Market Movers Today: FedEx, Nike, Constellation Energy and More Insights
Explore the latest stock market shifts as FedEx faces setbacks, Nike announces new leadership, and Constellation Energy reaches new heights with innovative energy deals.
With over 25 years of expertise, Bill McColl excels as a senior producer and writer across TV, radio, and digital platforms, leading teams to deliver compelling news coverage on significant global events.
Highlights
- Following the Federal Reserve's recent rate cut, the S&P 500 and Nasdaq retreated from record highs recorded Thursday, showing midday declines on Friday.
- FedEx shares dropped sharply after missing profit and sales targets and lowering its future outlook amid weakening demand.
- Constellation Energy surged to an all-time high after securing a deal to power Microsoft's data centers via the reactivation of the Three Mile Island nuclear plant.
On Friday, the S&P 500 and Nasdaq indices pulled back after reaching historic peaks the previous day, influenced by the Fed's monetary policy easing. Meanwhile, the Dow Jones Industrial Average remained relatively stable with slight gains.
FedEx (FDX) experienced a significant share price decline following disappointing earnings and revenue results, coupled with a downward revision of its guidance due to reduced demand.
Lennar (LEN) shares fell as the homebuilder projected lower-than-expected gross margins for the current quarter.
Shares of Trump Media & Technology Group (DJT) decreased amid investor concerns over potential insider selling once lock-up periods conclude.
Constellation Energy (CEG) reached unprecedented stock prices after announcing the restart of the Three Mile Island Unit 1 nuclear facility to supply clean energy to Microsoft (MSFT) data centers. This development also positively impacted other energy providers such as Vistra (VST) and NRG Energy (NRG).
Nike (NKE) shares rose following the announcement that veteran executive Elliott Hill, with 32 years at the company, will succeed John Donahoe as CEO.
In commodity markets, oil futures declined while gold prices increased. The 10-year Treasury yield remained steady. The U.S. dollar strengthened against the euro and yen but weakened versus the British pound. Most major cryptocurrencies showed gains.
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