On this episode of Stock Movers:
- Shares of major retailers like dropped after it became clear that the Supreme Court wouldn’t release its highly anticipated tariff ruling on Friday. Under Armour (UA) and Kohl’s (KSS) both tumbled as much as 6%, with many other stocks including Lululemon Athletica, Best Buy and American Eagle Outfitters falling as well. The court is reviewing challenges to President Donald Trump’s tariffs, which have plagued margins for retailers and led to higher prices. The court hasn’t said when it will issue its next opinion but could schedule more releases in the next two weeks.
- Intel (INTC) shares rise as much as 9.2% to $44.90 on Friday, hitting their highest level since April 2024, after President Donald Trump praised Intel CEO Lip-Bu Tan on social media after a meeting between the two. In a post to his Truth Social network, Trump hailed what he called progress at Santa Clara, California-based Intel, whose shares are up more than 70% since plans emerged last year for the federal government to buy as much as 10% of the company. So far, the US has amassed a roughly 5.5% stake, with more set to be acquired.
- Chipotle (CMG) and Cava (CAVA) shares are trading higher Friday after Telsey Advisory Group analyst Sarang Vora initiates coverage of the two restaurant operators with a rating of outperform.
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