All three major US stock indexes were up slightly in late-morning trading Friday, as President Donald Trump threatened tariffs on countries that don't go along with the US' plans in Greenland.
In company news, PNC Financial Services Group (PNC) reported Q4 earnings Friday of $4.88 per diluted share, up from $3.77 a year earlier and above the FactSet consensus analyst estimate of $4.20. Q4 revenue was $6.07 billion, up from $5.57 billion a year ago and above the FactSet consensus of $5.96 billion. PNC shares were up 3.2% around midday.
Micron Technology (MU) said Friday it is breaking ground on a $100 billion leading-edge memory manufacturing complex in Onondaga County, New York. The project, which will include up to four fabs, is expected to generate 50,000 jobs in the state, the company said. Micron shares were up 5.5%.
Mosaic (MOS) said Friday that Q4 North American fertilizer demand fell "well beyond normal seasonal softness." The company said its Q4 phosphate and potash sales volumes totaled 1.3 million and 2.2 million metric tons, with the market for phosphates down 20% from a year prior. Mosaic shares were down 3.9%.
Regions Financial (RF) reported Q4 adjusted earnings Friday of $0.57 per diluted share, down from $0.59 a year earlier and below the FactSet consensus of $0.61. Q4 adjusted revenue was $1.92 billion, up from $1.85 billion a year ago but below the FactSet consensus of $1.93 billion. Regions shares were down 2.5%.
Power company shares were down after multiple media outlets reported that the Trump administration is pushing for technology companies to pay for new power plants in connection with the surge in data center construction. Shares of Vistra (VST), Constellation Energy (CEG) and NRG Energy (NRG) were down 5.7%, 9.0% and 2.0%, respectively.
Riot Platforms (RIOT) said Friday it has acquired land it had previously leased at its Rockdale site in Milam County, Texas, and that it signed a data center lease with Advanced Micro Devices (AMD). The company said it paid $96 million for the 200 acres of land. Riot shares were up 11%, while AMD shares were up 2.2%.
Taiwan Semiconductor Manufacturing (TSM) said Friday it supports the US-Taiwan trade agreement, Agence France-Presse reported, citing the company. The deal lowers US tariffs on Taiwanese goods to 15% and encourages at least $250 billion in new Taiwanese investment in US chip production, according to the report. Taiwan Semiconductor Manufacturing shares were up 0.7%.
Price: 222.00, Change: +6.96, Percent Change: +3.24
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