Nvidia led a decline in technology stocks with a nearly 2% drop, as global trade tensions heightened following President Donald Trump’s tariff threats. J.B. Hunt Transport Services also experienced a setback, falling over 2% after reporting a year-over-year revenue decline for the fourth quarter. Its final-mile services revenue of $206 million missed FactSet’s estimate of $213 million, reflecting soft demand across various markets.
Micron’s shares decreased by 1.5% after the semiconductor company announced plans to acquire Powerchip Semiconductor Manufacturing Corp.’s fabrication facility in Taiwan for $1.8 billion. 3M, known for products such as Post-it Notes and Scotch Tape, saw a significant decline of 4% following its earnings report, which projected annual earnings between $8.50 and $8.70 per share, slightly below analyst estimates of $8.64.
Conversely, Fifth Third Bancorp’s shares rose by 1% after reporting fourth-quarter earnings of $1.04 per share, exceeding expectations. However, net interest income fell short of forecast, coming in at $1.53 billion against an anticipated $1.54 billion. D.R. Horton gained 2.9% after reporting fiscal first-quarter earnings of $2.03 per share, surpassing the expected $1.93 and achieving revenue of $6.89 billion.
KeyCorp shares fell 3% despite reporting revenues above forecasts, while Fastenal saw a decline of over 4% after its earnings and revenue came in slightly below expectations. Lululemon’s stock dipped 1.8% amid reports of an internal struggle involving founder Chip Wilson. JPMorgan’s shares declined by 1.6% following Trump’s threats to sue the bank, alleging it cut ties with him post-January 6 riot. In contrast, US Bancorp’s stock rose 1.2% after exceeding earnings expectations.
Why this story matters: Highlights the volatility of stock prices amid external political and economic pressures.
Key takeaway: Companies face challenges with revenue expectations amidst mixed financial results.
Opposing viewpoint: Some investors may still view these dips as opportunities, believing that long-term fundamentals remain strong.
