Stocks traded mixed Friday as oil prices rose, while some of the hard-hit tech names slightly rebounded following a brutal selloff in the previous session.
Moderna was up 1.1% after an 18% slump Thursday following a data leak for the cancer vaccine candidate the drugmaker is developing with Merck.
Telecom giants AT&T, Verizon, and T-Mobile were all down following a report that SpaceX was in talks to secure 80,000 cell towers as it looks to challenge the wireless carriers. Cell tower owners Crown Castle and American Tower jumped 9.8% and 3.8% respectively. Meanwhile, SpaceX rose 1.7%.
Bloom Energy slumped 12%. While the energy technology company raised its full-year 2026 earnings-per-share guidance, it reported negative free cash flow for the third quarter.
Deckers Outdoor fell 4.7% after the Ugg maker cut its revenue outlook when it reported earnings late Thursday.
American Express declined 4.2%. The company said Friday it would cut 5% of its global jobs. On top of that, its revenue for the fiscal third quarter slightly missed analysts' consensus estimates, and the company narrowed its full-year adjusted earnings guidance.
Infosys tumbled 5.6% after the consulting company narrowly missed Wall Street's estimates for its earnings per share in the fiscal second quarter and trimmed its revenue guidance for fiscal 2027.
Some hard-hit tech names were rising, but not enough to make a dent in yesterday's selling. Shares of Micron, Intel, and Sandisk, were all higher, while CoreWeave fell 1.4%.
Meta Platforms was down 0.6% after a 7% post-earnings drop Thursday.
SK Hynix was outperforming, though, gaining 4.2% after the company decided to scrap the planned U.S. IPO of its Solidigm memory-chip unit.
Western Digital fell 1.9% even after the company outlined an optimistic fiscal second-quarter outlook and reported widening profits. Fears about a faltering AI trade likely concerned investors.
SLB advanced 6.6%. The company reported better-than-expected third-quarter earnings as its push into the AI data center market gained momentum. Management attributed SLB's strong earnings to a "gradual recovery" in the Middle East.
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