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Tariff Losers Are Turning Into Big Winners as Stocks Recover off Lows

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Tariff Losers Are Turning Into Big Winners as Stocks Recover off Lows

Published: by Omor IE

Key Points

  • Tech stocks have slightly underperformed today.

  • But this is being offset by stocks in other sectors recovering, as tariffs have de-escalated.

  • Recent Gulf investment news and solid earnings have also driven up some stocks.

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The stock market has been proving the naysayers wrong so far, and the market has been rallying back in full force. Many tech names are soaring towards their highs, and underperforming names are starting to reverse course.

Many of the businesses that had high exposure to tariffs are being re-priced upward by Wall Street, and these stocks are turning into winners as they recover. There seems to be a market-wide reshuffle due to lingering uncertainty, and the only central theme that’s apparent currently is that “risk-on” mood may have returned.

Here’s a market update as of 11:00 AM (ET) today.

  • The S&P 500 is up 1.37 points, or 0.02%.
  • The Nasdaq Composite is down 9.48 points, or 0.04%.
  • The Dow Jones Industrial Average is up 15.2 points, or 0.04%.

Slight Underperformance in Tech Stocks

Certain tech stocks have still underperformed despite the broader market posting slight gains. This is likely due to these stocks becoming overheated as they recovered more early on.

  • Applied Materials (NASDAQ: AMAT) is down 6.8% after missing revenue estimates.
  • Meta Platforms (NASDAQ: META) is down 2.3% due to it delaying the release of its flagship AI model.
  • Broadcom (NASDAQ: AVGO) is down 2.2% today.
  • Microsoft (NASDAQ: MSFT) is down 0.8% today.
  • Apple (NASDAQ: AAPL) is down 0.72% today.
  • Nvidia (NASDAQ: NVDA) is down 0.64% today.

Notable Losers Today

  • Globant (NYSE: GLOB) is down 28.7% after missing earnings estimates. Revenue came in at $611.1 million vs. the $622 million consensus estimate. EPS also missed and came in at $1.5 vs. expectations of $1.58.
  • Travere Therapeutics (NASDAQ: TVTX) is down 15% after the FDA decided not to grant a priority review for one of the company’s recent submissions.
  • Doximity (NYSE: DOCS) is down 14.5% after disappointing guidance. It expects revenues to be between $619 million and $631 million vs. the $627 million consensus.
  • Lithium Americas (NYSE: LAC) is down 8.7% as it is planning a $1 billion stock offering.
  • CAVA Group (NYSE: CAVA) is down 5.2% as it did not increase its guidance as the market had expected.

Notable Gainers Today

  • Quantum Computing (NASDAQ: QUBT) is up 36% after reporting solid Q1 earnings. It turned profitable with $17 million in net income.
  • ACADIA Pharmaceuticals (NASDAQ: ACAD) is up 33% after winning a patent infringement case.
  • Evolv Technologies (NASDAQ: EVLV) is up 21% after providing earnings guidance for Q1 2025. It sees revenue between $31 million and $32 million, up from $22.2 million in the year-ago quarter.
  • CoreWeave (NASDAQ: CRWV) is up 18.6% after beating Q1 revenue estimates. It saw a 420% revenue surge with AI infrastructure expansion. The company is also backed by Nvidia.
  • Applied Digital (NASDAQ: APLD) is up 16.7% due to a surge in AI-related infrastructure spending.

The image featured at the top of this post is ©Vintage Tone / Shutterstock.com.

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