Major U.S. equity indices rose after President Donald Trump signed an executive order authorizing his agency to study reciprocal tariffs but not impose them immediately.
Thursday’s market movement coincided with the release of the most recent Producer Price Index (PPI) data, which indicated an increase in wholesale inflation in January, mirroring a similar trend from the previous day’s Consumer Price Index (CPI). The S&P 500 ended the session 1.0% higher. The Dow industrials rose 0.8%, while the Nasdaq gained 1.5% thanks to strength in the technology sector. MGM Resorts (MGM) shares rose 17.5%, the largest of any S&P 500 firm, after the casino and hotel operator exceeded sales and profit forecasts for the fourth quarter of 2024.Â
MGM Resorts (MGM) shares rose 17.5%, the largest of any S&P 500 firm, after the casino and hotel operator exceeded sales and profit forecasts for the fourth quarter of 2024. Sales increase from the company’s Macau operations supported the robust result, while the MGM Digital section offered an extra boost. Following the announcement, CFRA analysts raised MGM stock to a “buy,” noting improved financial predictions and the company’s aggressive share repurchase program.
Molson Coors (TAP) stock rose 9.5% on the alcoholic beverage giant’s quarterly report. Although revenue fell year over year, the brewer beat sales and profit expectations, citing its ability to maintain recent market share gains and favorable sales mix and price.
On Thursday, West Pharmaceutical Services (WST) shares fell 38.2%, the most of any S&P 500 participant. Although the manufacturer of injectable medication delivery systems and other pharmaceutical packaging solutions exceeded fourth-quarter earnings predictions, its 2025 guidance fell far short of mainstream expectations. The business stated that U.S. currency strength, customer inventory clearance, and significant capital expenditures might impact future profitability.
An unimpressive forecast also overshadowed a solid earnings announcement for Zebra Technologies (ZBRA), which makes barcode scanners and other inventory-management solutions. Although fourth-quarter sales and profitability beat expectations, full-year revenue projections fell short, reflecting the impact of a strong currency and worries about tariffs and global trade. Zebra Technologies’ stock declined 8.4%.
Iron Mountain (IRM), an enterprise information management company, saw its shares fall 7.3%. Despite good growth in its data center and storage and services segments, fourth-quarter revenue fell short of expectations, and higher interest charges weighed on the results.
