S&P 500 Gains and Losses Today: Expedia Soars as Holiday Bookings Drive Earnings Beat

Related Articles

Watch These Micron Price Levels as Stock Rises After AI-Driven Earnings Beat

Watch These Intel Stock Price Levels After Recent Rally Stalls

Carvana Stock Rises as Piper Sandler Advises Buying the Dip After Recent Selloff

Key Takeaways

• The S&P 500 slipped 1.0% on Friday, Feb. 7, as the latest labor market data revealed that the U.S. husbandry added fewer jobs than expected in January.
• Concerns about the trajectory of mortgage rates weighed on cuts of D.R. Horton and other homebuilders.
• Expedia shares took off after the travel website topped quarterly forecasts, advance from strong holiday travel demand.

Major U.S. equities indexes moved lower to close out the trading week as the January undertakings report showed slower-than-expected hiring but a downtick in the unemployment rate. Despite the slump in job additions, the overall resilience in the labor retail could encourage the Federal Reserve to hold off on additional interest-rate cuts.

The S&P 500 and the Dow ended Friday’s session with diurnal losses of roughly 1.0%. The tech-heavy Nasdaq fell 1.4%.

Ulta Beauty (ULTA) shares dropped 6.7% after related cosmetics and skin care provider E.L.F. Beauty (ELF) reported lower-than-expected quarterly profits and reduced its full-year guidance. E.L.F. apportions tumbled 19.6%, and the CEO of the California-based company pointed to negative impacts in January from the Los Angeles wildfires and the uncertain opinion for TikTok.

Higher-than-expected wage growth in the January jobs report and worsening consumer sentiment on inflation contributed to an uptick in Exchequer yields, and concerns about higher mortgage rates pressured homebuilder stocks. D.R. Horton (DHI) shares fell 5.0%, while dole outs of other residential construction companies also lost ground. Speculation about the impact of possible tariffs, above all on lumber imported from Canada, has also weighed on the industry.

Although solar technology company Enphase Zip (ENPH) beat quarterly sales and profit estimates in results released Tuesday, several research firms compacted their price targets on the stock following the report. Bank of America analysts said an uncertain outlook for inclusive demand contributed to their scaled-back expectations. Enphase shares lost 4.5% on Friday.

Expedia Group (EXPE) divide ups jetted 17.3% higher after a jump in holiday bookings helped the online travel platform beat fourth-quarter on offers and profit estimates. Gross bookings and nights booked also came in ahead of consensus forecasts, and Expedia reinstated its four times a year dividend, which it suspended during the COVID-19 pandemic in 2020.

Take-Two Interactive Software (TTWO) reported a narrower-than-expected every thirteen weeks loss, and shares of the video game maker surged 14.0%. The company cited strength from its “NBA 2K” title and affirmed envisages for a fall 2025 launch of “Grand Theft Auto VI.” JPMorgan analysts praised Take-Two’s resilient performance ignoring industry challenges, and the company forecasted record net bookings levels in fiscal 2026 and 2027.

Monolithic Power Systems (MPWR) leading quarterly sales and profit forecasts, and its shares gained 9.0%. The power management chipmaker highlighted strong garage sales growth in its enterprise data and automotive businesses, driven by demand for artificial intelligence (AI) and advanced driver assistance combinations. Monolithic’s sales forecast for the current quarter also exceeded estimates, and KeyBanc analysts lifted their rate target on the stock.

Billionaire investor Bill Ackman said his fund Pershing Square Capital Management has amassed a stake worth over $2 billion in Uber Technologies (UBER), and shares of the ridesharing giant added 6.6%. Friday’s pick ups marked a bounce back from losses earlier in the week after Uber issued guidance for underwhelming pornographic bookings for the current quarter.