Goldman Sachs Beats Expectations

Shares of Goldman Sachs rose nearly 2% following the release of its first-quarter earnings report, which exceeded analysts’ forecasts. The investment bank reported earnings of $14.12 per share, significantly higher than the anticipated $12.35. Additionally, its revenue reached $15.06 billion, surpassing the consensus estimate of $14.81 billion, according to data from LSEG.

Pfizer Halts Weight Loss Drug Development

In premarket trading, shares of Pfizer slipped slightly after the company announced it would discontinue the development of a daily weight loss medication. This decision comes after a patient in a clinical trial reported a potential liver injury linked to the drug.

Apple and Electronics Benefit from Tariff Exemptions

Apple Inc. experienced a robust surge, with its stock climbing over 5% after former President Donald Trump announced that smartphones will be exempt from reciprocal tariffs, at least temporarily. Other technology companies also saw significant gains:

• Best Buy: Shares surged nearly 9%, making it one of the top gainers in the S&P 500.
• Dell Technologies: The company’s stock rose around 6% following confirmation of temporary tariff rollbacks on technology imports from China.
• Intel: The chipmaker’s stock jumped 4% after news of its decision to divest from Altera, selling its majority stake to private equity firm Silver Lake.

Semiconductor Stocks React to Tariff News

Broadly, semiconductor stocks experienced upward movement after Trump’s announcement on tariff exemptions. Notably:

• Nvidia: Shares increased by 3%.
• Advanced Micro Devices (AMD): Stock rose nearly 4%.
• Super Micro Computer: Shares jumped around 5%.