By Francesca Fontana
The Score is a weekly review of the biggest stock moves and the news that drove them.
Affirm
Walmart is rolling back its partnership with Affirm.
Rival fintech company Klarna said Monday that it will replace Affirm as the big-box giant's exclusive buy-now-pay-later provider, working with the Walmart-backed consumer finance app OnePay to offer customers installment loans on purchases at the retailer
Affirm first announced a partnership with Walmart in 2019, offering installment payments on big-ticket purchases online and in-store. Affirm and Walmart expanded the service in 2023 to offer BNPL on smaller purchases at the retailer's self-checkout kiosks.
Stockholm-based Klarna recently filed for an IPO listing on the New York Stock Exchange. Affirm began trading on the Nasdaq in 2021.
Affirm shares fell 4.2% Monday and extended its declines Tuesday, losing 8.9%.
Nvidia
Nvidia Chief Executive Jensen Huang played to a tough crowd during his keynote at the company's annual GTC developers conference.
The conference, unofficially dubbed "AI Woodstock" and "the Super Bowl of AI," began on Monday, bringing more than 25,000 in-person attendees to San Jose, Calif.
During his address on Tuesday, Huang said that continued advances in AI would require at least 100 times the computing needs believed even a year ago. He also unveiled Rubin, Nvidia's next generation of AI chips.
But Huang's speech didn't stop the stock's slide during Tuesday's session. Nvidia was trading lower after the presentation concluded, amid a broad tech selloff and market reaction to turmoil in the Middle East.
Nvidia shares closed down 3.4% Tuesday.
General Mills
Economic concerns are eating into General Mills' sales -- and its outlook for the year.
The maker of Lucky Charms and Yoplait posted lower-than-expected fiscal third-quarter sales, as North American retailers reduced inventory and consumers spent less on snacks.
Sales in the latest completed quarter were down 5% at $4.84 billion, below analyst projections for $4.96 billion, according to FactSet.
The company also guided for lower sales in fiscal 2025. General Mills said its outlook doesn't contemplate the introduction of any new U.S. import tariffs or retaliatory tariffs by other countries.
General Mills shares fell 2.1% Wednesday.
Tesla
A swirl of consumer backlash, investor scrutiny, and vandalism continues to surround Tesla.
Analysts on Tuesday warned of lower overseas demand and consumer response as the brand becomes "increasingly politicized." As Chief Executive Elon Musk has become a powerful senior adviser to President Trump, Tesla's vehicles have become targets of vandalism. On Tuesday, several were set ablaze outside a Tesla service center in Las Vegas.
On Wednesday, the company recalled most Cybertrucks -- its eighth recall issued on the truck -- due to a flaw that can cause an exterior panel to fall off. Cantor Fitzgerald raised the stock's rating, saying the recent selloff created an attractive entry point.
Later that day, Commerce Secretary Howard Lutnick told Fox viewers to buy Tesla stock, saying: "It'll never be this cheap again."
Tesla shares lost 5.3% Tuesday, and rebounded 4.7% Wednesday.
Nike
Nike expects its sales decline to pick up the pace.
The sportswear brand late Thursday posted lower third-quarter profit and revenue, with sales falling 9.3% to $11.27 billion. Nike said its sales in its current fourth quarter are expected to drop at a rate in the midteens.
Chief Financial Officer Matthew Friend said the guidance reflects the estimated impact from higher tariffs on imports from China and Mexico, foreign exchange headwinds and the effects of such uncertainty on consumer confidence.
Nike is making progress on its turnaround plan and continues to push discounts to clear inventory and fill shelves with new products.
Nike shares sank 5.5% Friday.
International Consolidated Airlines
British Airways parent IAG led the selloff in airline stocks after the shutdown of one of the world's busiest airports.
London's Heathrow Airport was shut down Friday due to a power outage, sealing the main gateway for U.S. travelers to Europe and upending journeys for hundreds of thousands of passengers.
The outage was caused by a fire at an electrical substation supplying the airport, which broke out late Thursday evening.
In total, more than 1,300 flights had been scheduled to arrive at or depart from the hub on Friday, according to Flightradar24.
British Airways -- the biggest operator at Heathrow -- accounted for more than half of affected arrivals. It was scheduled to fly approximately 341 flights into the hub, according to aviation data specialist Cirium.
American depositary shares of IAG fell 2.9% Friday.
Our weekly markets news roundup is now part of the WSJ's What's News podcast. Host Francesca Fontana discusses the biggest stock moves of the week and the news that drove them. Check out What's News in Markets at wsj.com/podcasts or wherever you listen.
Write to Francesca Fontana at francesca.fontana@wsj.com.
(END) Dow Jones Newswires
March 21, 2025 17:05 ET (21:05 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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