A turbulent week split tech giants into big winners and losers while the Fed, restaurants and Universal moved markets.
Microsoft, which added $450 billion to its value on Thursday. Its earnings report eased investors' concerns that its big spending on data centers, chips and more would outpace its ability to generate cash. Microsoft ended the week up 22 percent, the strongest of the big tech names mentioned.
Answered around 1:29Investors are punishing Meta over the same concern Microsoft eased: that heavy spending on data centers, chips and more would outpace its ability to generate cash. By Thursday Meta had notched 11 straight daily declines, its longest losing streak on record, and it ended the week down about 6 percent.
Answered around 1:40Amazon shares soared about 15% after the company reported better sales trends in its cloud computing business, its biggest market cap gain ever. Apple lost more than $350 billion in market cap, its biggest one-day decline on record and the third largest of any U.S. company. Amazon ended up 17 percent, Apple down 7.
Answered around 1:58Yields rose after two Fed officials explained why they voted to raise interest rates this week. Investors increased their bets on a rate hike in the near term, and yields climbed across both short and long maturities. Stocks still finished strong, with the Dow, Nasdaq and S&P 500 each adding more than 1%.
Answered around 0:33The sandwich shop debuted on Thursday with a valuation of nearly $8 billion and shares promptly fell 6%, though they bounced back about 6% on Friday. It is the latest of 18 U.S. restaurant IPOs since 2017, according to Dealogic, following names like Sweetgreen, Kava and Krispy Kreme.
Answered around 2:53Taco Bell is rolling out $1 deals and new food options after a parasitic outbreak was linked to lettuce served at its restaurants and sales slumped. Parent Yum! Brands had its worst seven-day stretch since 2020 last week, falling about 10%, but rose about 3% this week.
Answered around 3:33A disappointing earnings report on Friday sent Universal shares down 25%, the steepest decline since it went public five years ago. Streaming has not grown as fast since the pandemic boom, and a hoped-for revenue rebound has failed to materialize, leaving the stock down more than 40% over 12 months.
Answered around 4:32Jersey Mike's is hardly alone: the hedge fund Pershing Square, the nuclear fuel company Standard Nuclear and the biotech firm Generate Biomedicines all had even steeper first-day drops earlier this year, even though IPOs are usually expected to pop.
Answered around 3:13