In a day marked by significant fluctuations, several stocks experienced dramatic changes, driven by a combination of earnings reports, forecasts, and strategic announcements. Bloomin' Brands and Advance Auto Parts saw their shares plummet due to disappointing earnings guidance and predictions, whereas companies like Anheuser-Busch InBev and Axon Enterprise witnessed significant gains after surpassing earnings expectations. Meanwhile, new partnerships and strategic moves propelled stocks such as NRG Energy and GE Vernova to new heights.
Bloomin' Brands led the day's declines with a precipitous 17% drop in share value. This came after the company released earnings guidance that fell short of FactSet's consensus estimates. Similarly, Advance Auto Parts' shares plunged 14% as the company forecasted a 2% decline in first-quarter same-store sales, significantly below the anticipated 0.7% drop expected by FactSet analysts.
In contrast, Anheuser-Busch InBev shares surged approximately 9% following an earnings report that exceeded Wall Street expectations. Analysts polled by FactSet had predicted earnings of 69 cents per share on $14.18 billion in revenue, but the beverage giant outperformed these estimates, boosting investor confidence.
NRG Energy and GE Vernova also enjoyed substantial gains, with their shares rising 11% and nearly 7%, respectively. The two companies announced a new partnership focused on increasing electricity generation capabilities, a move that was well-received by the market.
Southern Copper and the Global X Copper Miners ETF (COPX) each advanced over 2%, buoyed by favorable developments in the copper market. The White House's inquiry into potential tariffs on imported copper gave Freeport-McMoRan a boost as well, pushing its shares up about 5%.
On the downside, Stellantis shares decreased by 4%, following the release of full-year 2024 net profit figures that fell short of analyst expectations. The company reported a net profit of 5.5 billion euros, below the 6.4 billion euros forecasted by LSEG analysts.
Lowe's saw a 3% increase in its share price after posting better-than-expected fourth-quarter results, while General Motors' shares jumped 5% after announcing a 25% hike in its quarterly dividend to 15 cents per share.
Workday also delivered positive news with adjusted earnings of $1.92 per share, surpassing the LSEG consensus estimate of $1.78 per share. This strong performance contributed to positive sentiment among investors.
Lucid Group, however, faced a challenging day as shares tumbled more than 11%. This decline followed the announcement that CEO Peter Rawlinson has stepped down, raising concerns about the company's future leadership direction.
Intuit shares climbed 12% after delivering impressive earnings for the fiscal second quarter, delighting Wall Street analysts and investors alike.
Axon Enterprise experienced a notable surge of about 17% in its share price after reporting fourth-quarter results that exceeded analyst expectations. The Taser maker's robust performance was a highlight amid a day of varied outcomes for different sectors.
Lastly, Super Micro Computer shares soared 18% following the filing of delayed financial documents with the U.S. Securities and Exchange Commission, addressing previous concerns over regulatory compliance.