The S&P 500 futures have fallen by 12 points, Nasdaq 100 futures are down by 63 points, and Dow Jones Industrial Average futures have dropped by 179 points. These declines come after a strong performance in the stock market earlier this week.
There is a hopeful sign in the ongoing trade discussions with China. China is considering tariff exemptions on medical equipment and certain industrial chemicals, which is similar to measures taken during President Trump's first term.
The 10-year Treasury yield has decreased by three basis points to 4.28%, while the 2-year Treasury yield remains steady at 3.79%.
Today's News
Alphabet (GOOGL, Financial) is exploring the potential for personal ownership of its Waymo robotaxis, as CEO Sundar Pichai revealed during an earnings call. Waymo is currently the only paid robotaxi service and has expanded its operations significantly, now offering over 250,000 paid passenger trips weekly. The company plans further expansion into Washington, DC, and Miami by 2026, with current partnerships in Austin and Atlanta. This development signifies Alphabet's growing footprint in autonomous vehicle technology.
AbbVie (ABBV, Financial) saw a rise in shares after raising its full-year profit outlook, driven by strong Q1 results that surpassed Wall Street expectations. Despite a significant drop in Humira sales due to market competition, AbbVie reported a net revenue of $13.3 billion, with significant contributions from its newer immunology drugs, Skyrizi and Rinvoq. The company's performance indicates robust growth in its immunology portfolio.
Nvidia (NVDA, Financial) received a positive outlook from Morgan Stanley, which increased its estimates for 2026, citing a surge in demand for GPUs amid a shortage of inference chips. The semiconductor company is experiencing increased investment to manage growing workloads, reflecting a shift in focus within Silicon Valley towards AI technology.
Intel (INTC, Financial) faces challenges as it attempts a turnaround under new CEO Lip-Bu Tan. The semiconductor giant's shares fell as analysts noted the company requires time to address historical inadequacies. Efforts are being made to enhance execution, refocus on core products, and rebuild trust with foundry customers.
Tractor Supply Company (TSCO, Financial) is under scrutiny due to a Dividend Safety Score of F, indicating potential for dividend cuts. While this score suggests caution for income reliance, investors are advised to consider alternative dividend stocks with stronger ratings.
Pfizer (PFE, Financial) and Cigna (CI) announced dividend declarations, with MetLife (MET, Financial) and Phillips 66 (PSX, Financial) increasing their payouts. Synchrony Financial (SYF, Financial) also reported a significant 20% dividend increase. These activities highlight ongoing dividend adjustments among major corporations.
Exxon Mobil (XOM, Financial) is planning to exit Singapore's retail fuel sector, with Aster Chemicals and Energy expressing interest in acquiring its gasoline stations. The move aligns with Singapore's strategy to reduce emissions through electric vehicle adoption.
Waymo's partnership with Uber (UBER, Financial) in Austin and upcoming launch in Atlanta further exemplify its strategic expansion efforts, positioning it as a leader in the autonomous vehicle industry.
In the pharmaceutical sector, Novo Nordisk (NVO, Financial) faced a legal decision affecting its weight loss drugs, Ozempic and Wegovy. A U.S. judge denied an injunction to continue producing cheaper versions, impacting companies like Hims & Hers (HIMS).
Lastly, Toyota Motor Corp. (TM) is considering a buyout of supplier Toyota Industries Corp., valued at $42 billion. This potential acquisition underscores Toyota's strategic efforts to consolidate its supply chain and enhance operational efficiency.
GuruFocus Stock Analysis
- Hasbro Stock Jumps 16% After Earnings Beat, But Tariff Threat Looms Large by Faizan Farooque
- Alphabet (GOOGL, Financial) Shares Rise on Strong Q1 Results and AI Momentum by Nauman khan
- Intel CEO in Talks with TSMC for Potential Partnership Amid Foundry Struggles by Nauman khan
- S&P 500 Could Tank 37% to 3,700 in Mild Recession, Wolfe Research Warns by Nauman khan
- Pony.ai's WeChat Robotaxi Rollout Targets Tesla, Waymo and Baidu Market Lead by Nauman khan
