Mixed Market Performance, Adobe Drops Over 9%, Intel Surges Over 13%
Market Watcher03-13
On March 13, 2025, the U.S. stock market opened with mixed performance. The Dow Jones Industrial Average rose by 0.5%, the S&P 500 increased by 0.3%, while the Nasdaq Composite fell by 0.2%.
In the sectoral performance, the U.S. cruise stocks showed significant gains. Royal Caribbean Cruises rose by 3.27%, Norwegian Cruise Line Holdings increased by 2.5%, and Carnival Corporation gained 2.1%. On the other hand, the Russian concept stocks experienced notable declines. Yandex dropped by 4.5%, Ozon Holdings fell by 3.8%, and Mobile TeleSystems decreased by 3.2%.
Microsoft saw a slight increase of 0.26% after DA Davidson upgraded its rating from Neutral to Buy and raised the price target from $425.00 to $450.00 per share.
NVIDIA rose by 0.72% as multiple factors contributed to its stock rebound. Key factors include the importance of gross profit margins, potential impacts of U.S. tariffs on chip sales, and a joint venture to operate Intel's factories. Additionally, Tencent's significant purchase of H20 chips from Nvidia to meet the demand for integrating DeepSeek into WeChat has created a short-term supply shortage.
Alphabet fell by 1.35% despite Evercore ISI reaffirming its Buy rating, indicating a positive outlook for the company's growth potential.
Meta Platforms, Inc. experienced a slight decline of 0.21% after launching its first self-developed AI training chip, which has started small-scale deployment.
Tesla Motors dropped by 0.88% amid mixed news. While board member James Murdoch's stock purchase indicated confidence in the company's future, analysts predicted a potential 30% decline due to weak delivery data and political noise. Additionally, Tesla's collaboration with Baidu to improve its Full Self-Driving system in China faced scrutiny.
Wal-Mart decreased by 0.24% following the Chinese Ministry of Commerce's meeting with the company to address concerns over price reductions imposed on Chinese suppliers and the transfer of U.S. tariffs' burden.
JPMorgan Chase rose by 0.31% after acquiring a 5.36% stake in Rio Tinto, becoming the second-largest shareholder and supporting Rio Tinto's diversification into critical minerals and battery metals.
Alibaba fell by 1.87% despite launching its new AI flagship application, Quark, which aims to provide a new experience for 200 million users through advanced AI models.
Adobe saw a significant drop of 9.03% after Baird lowered its price target from $500.00 to $490.00 per share, maintaining a neutral rating, while B of A Securities maintained a buy rating.
Palantir Technologies Inc. declined by 1.09% despite recent customer wins with Walgreens and Heineken, which analysts viewed as signs of commercial momentum.
Intel surged by 13.62% following the appointment of Lip-Bu Tan as CEO, which was positively received by the market.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.