Did you know that Samsung started as a grocery store?
Founded in 1938 in South Korea, Samsung began as a small trading company dealing in dried fish, noodles, and local produce. It wasn't until the 1960s that it expanded into electronics, eventually becoming the tech giant we know today.
Market Wrap
On Thursday, February 13, 2025, U.S. stock markets rallied, with major indices closing near record highs.
The S&P 500 rose 1% to 6,115.07, the Dow Jones Industrial Average increased by 0.8% to 44,711.43, and the Nasdaq Composite gained 1.5% to 19,945.64.
This positive movement was influenced by several economic and political factors:
Inflation Data: The Producer Price Index (PPI) for January increased by 0.4%, slightly above expectations. However, core PPI, which excludes food and energy prices, rose by 0.3%, indicating a potential moderation in underlying inflation pressures.
Tariff Developments: President Donald Trump signed an executive order directing federal agencies to explore imposing reciprocal tariffs on trading partners. The order did not immediately implement new tariffs, leading investors to anticipate potential negotiations and delays before any tariffs take effect.
Labor Market Strength: The labor market remained robust, with a decrease in initial jobless claims, signaling continued strength in employment.
Additionally, optimism surrounding potential peace talks between Russia and Ukraine contributed to positive market sentiment, as investors hoped for a resolution to ongoing geopolitical tensions.
Cisco Systems increased by 2.1% after delivering strong fiscal second-quarter earnings and revenue. The positive performance was driven by robust orders for AI infrastructure and an improved fiscal revenue outlook.
Deere & Company declined by 2.2% as the agricultural equipment manufacturer missed revenue estimates and projected weaker full-year sales for its large farm equipment, citing challenges in the agricultural sector.
AppLovin Corporation soared by 24% following better-than-expected fourth-quarter earnings. The positive results were bolstered by plans to sell its app development division for $900 million, aiming to focus more on its core advertising business.
Robinhood Markets jumped 14% to a record high, attributed to a substantial increase in cryptocurrency trading, which significantly boosted the company's profit and sales beyond expectations.
GE HealthCare Technologies climbed 8.8% following better-than-expected fourth-quarter profits. The company benefited from strong demand in the U.S. and robust sales in its advanced visualization solutions and pharmaceutical diagnostics businesses.
West Pharmaceutical Services plummeted by 38.2% after issuing a warning that the strong U.S. dollar and customer inventory reductions would negatively impact future performance, raising concerns about the company's growth prospects.
Molson Coors Beverage Company rose by 9.5% after reporting quarterly results that surpassed expectations. The company highlighted its success in maintaining recent market-share gains, as well as favorable sales mix and pricing strategies.
MGM Resorts International surged by 17.5% after reporting strong fourth-quarter results. The impressive performance was primarily driven by higher revenue from its operations in Macau and significant growth in its digital segment.
Crocs Inc. surged by over 20% after reporting fourth-quarter revenue of $990 million, surpassing analyst expectations of $961.6 million. Adjusted earnings per share were $2.52, exceeding the anticipated $2.26. For the full year 2024, Crocs achieved record revenues of $4.1 billion, a 4% increase over 2023, and projected continued growth in 2025, led by mid-single-digit growth in the Crocs brand.
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