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Key Takeaways
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The S&P 500 fell 0.1% on Friday, May 9, 2025 as investors waited for fresh developments on tariffs ahead of a weekend meeting between U.S. and Chinese officials.
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Shares of Insulet surged after the insulin pump maker lifted its full-year revenue outlook and analysts lifted their price targets for the stock.
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Expedia shares tumbled after the company lowered its full-year outlook amid weak U.S. travel demand.
Major U.S. equities indexes pulled back from their early gains Friday as investors wait for new developments on tariffs ahead of a weekend meeting between U.S. and Chinese officials.
The S&P 500 finished lower by 0.1% as the benchmark index broke a two-day winning streak to end the week lower by about 0.5%. The Dow Jones Industrial Average was down about 0.3% Friday, while the Nasdaq was unchanged. Both indexes also finished the week in negative territory.
Shares of insulin pump maker Insulet (PODD) surged by more than 20% Friday to pace the S&P 500, after the company reported stronger-than-anticipated quarterly results and lifted its full-year revenue outlook. Jefferies analysts lifted their price target on the stock to $360 from $350, suggesting significant upside from the stock's close near $311 Friday.
Microchip Technology (MCHP) jumped by 12.6% after several analysts raised their price targets for the stock on the chipmaker's better-than-expected outlook. While Microchip’s fourth-quarter sales fell 27% year-over-year, analysts were expecting a steeper drop.
Tesla (TSLA) shares jumped 4.7% to post gains for the third straight week amid optimism about new U.S. trade deals. The surge came after a weak start to the week following a string of reports on declining sales in Europe and China.
Akamai Technologies (AKAM) stock declined more than 10% after Scotiabank lowered its price target on the cybersecurity and cloud computing company to $105 from $107, with its shares closing just above $76 on Friday.
Expedia Group (EXPE) shares tumbled nearly 8% after the travel booking service delivered worse-than-expected first quarter results and lowered its full-year outlook amid weak U.S. travel demand. CEO Ariane Gorin said the company managed to grow bookings and revenue "despite weaker than expected demand in the U.S."
TKO Group Holdings (TKO), the parent of World Wrestling Entertainment and Ultimate Fighting Championship, fell 5.5% after its earnings missed analysts' expectations. The company lifted its full-year revenue forecast.
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