Shares of China's electric vehicle companies experienced an upswing as President Donald Trump refrained from immediately approving new tariffs. This delay offered a momentary relief to the market, boosting investor confidence. Meanwhile, Ulta Beauty's stock climbed 4.2% after Morgan Stanley upgraded the retailer to overweight, reflecting optimism about its potential to expand market share in a growing beauty industry.
In a significant development in the pharmaceutical sector, Moderna received a substantial $590 million in funding from the U.S. Health and Human Services Department. The funding aims to expedite the development of Moderna's bird flu vaccine, marking a crucial step in public health preparedness.
Conversely, shares of Trump Media & Technology Group dropped 9% following the inauguration of Donald Trump as the 47th president of the United States. The decline reflects market uncertainty surrounding the company's future under new leadership.
Urban Outfitters' stock surged 9.6%, buoyed by an upgrade from Morgan Stanley to overweight, signaling investor confidence in the company's growth prospects. Similarly, Charles Schwab saw its shares rise over 3% after reporting stronger-than-expected fourth-quarter results, indicating robust financial performance.
Curtiss-Wright also benefited from positive market sentiment, with its stock increasing by 3.7% after Citi initiated coverage with a buy rating. This move suggests confidence in Curtiss-Wright's potential to deliver strong returns.
In contrast, Apple shares faced a 4% decline after Jefferies downgraded the tech giant to underperform from hold. This downgrade reflects concerns about Apple's future growth trajectory in an increasingly competitive landscape.
General Motors enjoyed a more favorable outcome, with its stock surging over 5% after Deutsche Bank upgraded the automaker to buy from hold. This upgrade underscores optimism about General Motors' strategic direction and growth opportunities.
Roku's status as a leading streaming platform in the U.S. remains solid, with expectations of benefiting from increased advertising spending in the connected TV market. This position reinforces Roku's long-term growth potential and attractiveness to investors.
Vistra shares rose 3.6% following the lifting of evacuation orders related to a fire at the company's Moss Landing battery storage facility. The resolution of this incident has alleviated investor concerns about operational disruptions.
3M reported fourth-quarter earnings that surpassed expectations, posting an adjusted profit of $1.68 per share. This strong performance highlights 3M's resilience amid challenging economic conditions.
Qorvo shares gained 5% after an upgrade by Morgan Stanley to overweight from equal weight, reflecting positive sentiment about the company's prospects in the semiconductor industry.
In contrast, Walgreens Boots Alliance faced a steep decline of 12.7% after the U.S. Justice Department filed a nationwide lawsuit against the company. The legal action raises concerns about potential financial and reputational impacts on Walgreens.