US stocks slide and Nasdaq enters correction as chaos over Trump’s tariffs intensifies
The rocky week on Wall Street continued on Thursday as investors grappled with further uncertainty from President Donald Trump’s tariffs.
The rocky week on Wall Street continued on Thursday as investors grappled with further uncertainty from President Donald Trump’s tariffs.
Shares of Intuitive Machines tumbled on Thursday amid uncertainty about the status of its Athena lander’s attempt to touch down on the surface of the moon today.
Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) fell 6.4% in the afternoon session as markets tumbled after holding steady the previous day, while concerns over the ongoing trade war continued to spread.
NEW YORK (Reuters) -Major U.S. stock indexes declined sharply on Thursday with investors concerned about the impact President Donald Trump's trade policy may have on companies and the broader economy, while Marvell Technology's revenue forecast sparked concerns about spending on artificial intelligence infrastructure. The Nasdaq Composite ended down 10.4% from its record high close on December 16, confirming the tech-heavy index has been in a correction since peaking several months ago. Below are investor comments about the selloff, which also saw the S&P 500 dip below its 200-day moving average for the first time since November 1, 2023.
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Shares of precision motion systems specialist Allient (NASDAQ:ALNT) jumped 8.3% in the morning session after the company reported impressive fourth quarter 2024 results which blew past analysts' sales and EPS expectations. In addition, its EBITDA outperformed Wall Street's estimates by a wide margin. Zooming out, we think this was a good quarter with some key areas of upside.
Shares of online reputation and search platform Yext (NYSE:YEXT) fell 8.5% in the pre-market session after the company reported underwhelming fourth-quarter results, with revenue merely in line with expectations while EPS fell short. Looking ahead, management decided to hold back on full-year revenue guidance, pointing to uncertainty around new product adoption and currency swings. Instead, they put out an adjusted EBITDA target of $100 million to $103 million, which signals they feel good about
Shares of healthcare software provider Veeva Systems (NASDAQ:VEEV) jumped 9.9% in the afternoon session after the company reported impressive fourth quarter (fiscal 2025) results which beat analysts' revenue and adjusted operating profit expectations. Notably, subscription services revenue, making up the bulk of total revenue, rose 17% year over year. This growth was driven by expanding adoption of Veeva's cloud-based solutions across both R&D and commercial segments, reflecting continued demand
Shares of restaurant company Cracker Barrel (NASDAQ:CBRL) jumped 21.9% in the morning session after the company served up a standout second quarter (fiscal 2025), crushing Wall Street's estimates on revenue, EPS, and EBITDA. Adjusted EBITDA rose by 19.6%, driven by strong restaurant sales growth and pricing optimization that helped offset inflationary pressures. Looking ahead, the company raised its full-year sales and adjusted EBITDA guidance to a range above prior estimates, signaling confiden
Shares of intimatewear and beauty retailer Victoria’s Secret (NYSE:VSCO) fell 7.9% in the morning session after the company reported weak fourth-quarter results, as its gross margin and full-year revenue guidance fell short of Wall Street's estimates. However, the company exceeded analysts' expectations for revenue, EPS, and adjusted operating income, with comparable sales rising 5%. Looking ahead, full-year revenue guidance suggests limited growth, raising concerns about potential demand softne