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Key Takeaways
The S&P 500 recovered from morning losses to shut 0.7% greater on Friday after feedback from Fed Chair Jerome Powell indicating that the central financial institution may proceed growing rates of interest to curb inflation.
Toymaker Hasbro (HAS) led positive factors on the index, with shares leaping 5.7% after Stifel analysts boosted their value goal to $94 from $79 and added the inventory to the agency’s prime picks record. Analysts advised that Hasbro’s sturdy portfolio of mental property may yield alternatives in filmmaking and licensing.
Intuitive Surgical (ISRG), which produces robotics methods for surgical procedures, noticed its shares transfer 4.1% greater on Friday amid optimism in regards to the firm’s progress in synthetic intelligence (AI) and the success of its da Vinci system, which has now been utilized in over 10 million medical procedures.
Shares of monetary software program specialist Intuit (INTU), maker of TurboTax, gained 4.1% after the agency’s prime and bottom-line outcomes for its fiscal fourth quarter got here in forward of analysts’ forecasts. Intuit’s CEO highlighted the corporate’s success in increasing its working margin in an unsure atmosphere, and advancing its aim of changing into a premier AI-driven platform for serving to customers handle their funds.
Ulta Magnificence (ULTA) was one of many day’s worst performers on the index, as shares dropped 3.7%. Regardless of beating earnings estimates, the wonder retailer mentioned shoplifting losses and a client shift towards lower-margin merchandise negatively impacted its outcomes.
Warner Bros. Discovery (WBD) shares additionally misplaced floor, with shares down 3.4% after the leisure large mentioned big-budget films could be delayed amid ongoing strikes by Hollywood writers and actors.
Shares of insulin pump insulin pump producer Insulet (PODD) declined 2.6%, extending losses earlier within the week amid issues about its future gross sales prospects as different kinds of therapies grow to be out there to sufferers with diabetes.
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