Major U.S. equities indexes advanced on Thursday following robust quarterly earnings reports from Microsoft (MSFT) and Meta Platforms (META), alleviating concerns about the impact of tariffs on large technology firms. The S&P 500 climbed 0.6%, extending its winning streak to eight consecutive trading sessions. The Dow increased by 0.2%, while a strong day for the tech sector boosted the Nasdaq by 1.5%. Carrier Global (CARR), an HVAC company, saw its shares surge 11.6%, marking the top performance on the S&P 500 after reporting strong quarterly results and raising its full-year outlook. Quanta Services (PWR) shares jumped 9.9% following better-than-expected first-quarter results, highlighting improved profitability in its Electric Infrastructure Solutions and Underground and Infrastructure Solutions segments. Microsoft’s fiscal third-quarter sales and profits exceeded analysts’ forecasts, with shares surging 7.6%. The company emphasized growth in its Intelligent Cloud segment, home to its Azure cloud computing business. Microsoft’s CFO discussed the promising demand for artificial intelligence (AI) and confirmed plans for $80 billion in infrastructure spending in fiscal 2025. Conversely, Becton Dickinson (BDX) reduced its full-year profit forecast due to tariffs imposed by the Trump administration, causing its shares to plummet 18.1%, making it the worst-performing S&P 500 stock. Analysts downgraded Becton Dickinson stock, citing inconsistent execution and lack of confidence in driving growth. Eli Lilly (LLY) topped sales and profit estimates with its first-quarter results, driven by strong sales of its GLP-1 weight loss and diabetes treatments. However, it cut its full-year profit guidance due to a charge related to its acquisition of a cancer treatment, leading to an 11.6% drop in its shares. — new from Investopedia
