S&P 500 on Pace to Extend Winning Streak as Major Stock Indexes Set to Post Big Weekly Gains; UnitedHealth Rebounds After Sell-Off

Take-Two Interactive Slips as Outlook Comes Up Short

16 minutes ago

Take-Two Interactive (TTWO) reported fiscal fourth-quarter revenue that topped analysts’ expectations, but the gaming company’s net loss and forecast disappointed, sending shares lower.

The parent of popular video-game studios Rockstar Games and 2K late Thursday reported revenue of $1.58 billion, up 13% year-over-year and above the analyst consensus from Visible Alpha. Net bookings climbed 17% to $1.58 billion, which also topped estimates.

Take-Two told investors to expect full-year revenue of $5.95 billion to $6.05 billion, along with a net loss of $439 million to $499 million. Wall Street was looking for revenue of $7.72 billion and earnings of $165 million, according to Visible Alpha.

The news comes two weeks after Take-Two announced Rockstar’s hotly anticipated Grand Theft Auto VI game would be delayed until May 2026. That initially sent shares lower, although the release of a trailer for the game on May 6 helped renew investor optimism. 

CEO Strauss Zelnick said the company’s upcoming lineup of games, including Grand Theft Auto VI, will “establish a new baseline for our business and set us on a path of enhanced profitability.”

Take-Two’s net loss was $3.73 billion, or $21.08 per share, wider than the $2.9 billion, or $17.02 per share, it reported in the year-ago quarter. Take-Two said the loss was due in part of a $3.55 billion goodwill impairment charge.

Take-Two share were down 2% in mid-afternoon trading Friday. The stock is up 24% so far this year,

–Andrew Kessel

Applied Materials Price Levels to Watch as Stock Tumbles

1 hr 13 min ago

Applied Materials (AMAT) shares fell Friday after the chip equipment manufacturer posted quarterly revenue below Wall Street expectations amid a slump in China sales.

AMAT shares plunged nearly 40% between late January and early April amid concerns that the Trump administration’s trade policies, including new AI chip licensing export requirements to China, could affect the company’s sales. However, even with today’s decline, the stock is up more than 30% from last month’s low following the recent trade war truce with China.

Since hitting a record high last July, Applied Materials shares have trended lower within a descending channel.

More recently, the stock nudged above the pattern’s upper trendline but has failed to decisively close above the nearby 200-day moving average. It’s also worth noting that the pre-earnings rally coincided with the relative strength index moving into overbought territory, setting the stage for profit-taking.

Investors should watch key support levels on the Applied Materials chart around $158 and $145, while also monitoring overhead areas near $190 and $213.

The stock was down 6% at around $164 in recent trading.

Read the full technical analysis piece here.

–Timothy Smith

Quantum Computing Stock Soars on Strong Earnings

2 hr 52 min ago

Quantum Computing (QUBT) surged Friday, a day after the provider of photonic and quantum optics technology swung to a profit on benefits from an earlier acquisition and growing demand for its thin film lithium niobate photonic chips.

The company posted first-quarter earnings of $17 million or $0.11 per share, compared with a loss of $6.4 million or $0.08 per share a year ago. Revenue rose to $39,000 from $27,000. 

Quantum Computing noted that the gain in net income was primarily because of “a $23.6 million non-cash gain on the mark-to-market valuation of the Company’s warrant liability as a result of our merger with QPhoton in June 2022.”

Interim CEO Dr. Yuping Huang said that during the period the firm finished construction of its Quantum Photonic Chip Foundry in Tempe, Ariz., and that it’s “encouraged by our early traction, which is the first step in what we believe is a significant, multi-year opportunity to serve the expanding markets in datacom, telecom, and quantum-enabled applications.”

Huang added that Quantum Computing deepened its engagement with both government and commercial partners, “reinforcing the growing interest in our quantum and photonic machines and positioning QCi to capitalize on emerging opportunities ahead.”

The news was in contrast with another quantum computing firm, Rigetti Computing (RGTI), which reported earlier this week that quarterly sales plunged.

Quantum Computing shares were up 35% in recent trading. Despite the huge gain today, the stock is still down 25% since the start of 2025.

–Bill McColl

Cava Stock Drops Despite Topping Earnings Estimates

3 hr 47 min ago

Cava Group (CAVA) shares fell Friday, a day after the Mediterranean fast-casual chain’s outlook offset better-than-expected results.

The company didn’t change its estimates for full-year same-restaurant sales growth (6.0% to 8.0%) and restaurant-level profit margin (24.8% to 25.2%) from the guidance it gave in February. It also raised its prediction for pre-opening costs to $14.5 million to $15.5 million from $14.0 million to $15.0 million.

However, it did increase its outlooks for net new Cava restaurant openings to a range of 64 to 68 from 62 to 66, and adjusted EBITDA to $152.0 million to $159.0 million from $150.0 million to $157.0 million.

In the first quarter, Cava reported earnings per share of $0.22 on revenue that surged 28% year-over-year to $331.8 million. Both were above Visible Alpha forecasts. Same-restaurant sales grew 10.8%, also above estimates, and traffic rose 7.5%.

Co-founder and CEO Brett Schulman said the performance showed the continuing strength of the company’s category-defining brand, “in spite of economic uncertainty and challenging weather.”

In a note to clients, JPMorgan analysts remained bullish on Cava, affirming their recent re-upgrade of the stock with a “buy now and own for the long term” opinion. They added the company was “comping well in a difficult environment.”

Cava shares were down 4% recently. The stock has lost about 16% of its value since the start of the year.

–Bill McColl

Novo Nordisk Stock Slides as CEO Departs

4 hr 20 min ago

U.S.-listed shares of Novo Nordisk (NVO) declined in early trading Friday on the surprise news that CEO Lars Fruergaard Jørgensen is stepping down from the Danish drugmaker.

The maker of blockbuster weight-loss drugs Ozempic and Wegovy said Friday that Jørgensen’s departure is a “mutual agreement,” and that he will stay on as CEO while a successor is found. The company said a search is “ongoing, and an announcement will be made in due course.”

Novo Nordisk cited “recent market challenges Novo Nordisk has been facing, and the development of the company’s share price since mid-2024” as reasons that the board is looking to move on from Jørgensen, who has been CEO since January 2017.

“Novo Nordisk’s strategy remains unchanged, and the Board is confident in the company’s current business plans and its ability to execute on the plans,” board chair Helge Lund said.

The drugmaker’s stock surged to record highs in the first half of last year as sales of its popular weight-loss drugs sent revenue soaring. However, shares entered Friday down just over 50% in the last 12 months as sales growth started to slow and studies showed that the active ingredient in rival Eli Lilly’s (LLY) Mounjaro and Zepbound caused greater weight loss than that of Ozempic and Wegovy.

Novo Nordisk shares were down 4% recently.

–Aaron McDade

AMD Levels to Watch After Winning Streak Snapped

4 hr 53 min ago

Advanced Micro Devices (AMD) shares rose in premarket trading after falling Thursday for the first time in seven sessions.

The chip designer’s stock rallied to it highest level since early February on Wednesday after the company approved an additional $6 billion to its share repurchase plan, upping its buyback program to $10 billion. The buyback news came on the heels of the chipmaker and AI favorite Nvidia (NVDA) announcing Tuesday they would supply semiconductors to Saudi Arabian AI startup Humain as part of initiatives announced as President Donald Trump kicked off a four-day trip to the Middle East. 

Through Thursday’s close, the stock was up 50% from its early-April low and had gained 17% since May 6, when the company posted better-than-expected earnings and an upbeat outlook driven by AI momentum. AMD shares were up 2.5% at around $118 before the opening bell Friday.

Since a bear trap marked the bottom in AMD shares last month, the price has broken out above the 50-day moving average and a descending channel, with gains accelerating in recent trading sessions.

However, while the relative strength index (RSI) confirms bullish price momentum with a reading above the 70 threshold, it also flashes  overbought conditions, potentially leading to a period of-near-term consolidation.

Investors should watch crucial support levels on AMD’s chart around $110 and $96, while also monitoring important resistance levels near $132 and $150.

Read the full technical analysis piece here.

–Timothy Smith

Major Index Futures Slightly Higher

5 hr 29 min ago

Futures tied to the major U.S. stock indexes were each up 0.3% recently.

Dow Jones Industrial Average

S&P 500

Nasdaq 100