Shares of discount retailer Five Below (NASDAQ:FIVE)
fell 8.7% in the afternoon session after Bloomberg reported the company instructed its vendors to delay the shipment of certain goods to China before their final delivery to the U.S., underscoring the retailer's cautious stance amid escalating trade tensions between the U.S. and China. For investors, while this signaled that the company was closely managing its exposure to tariffs, it also raised the possibility of near-term inventory challenges or missed sales opportunities if delays persisted or demand shifted unexpectedly.
Shares of industrial supplier Fastenal (NASDAQ:FAST) jumped 7% in the afternoon session after the company reported strong first quarter 2025 results which blew past analysts' sales volume expectations. Sales, EBITDA, and EPS were also in line with expectations, which showed the company was executing as expected. Sales growth continued to improve despite broader business activity remaining soft, helped by a bigger base of customers spending more each month. Overall, we think this was a decent quarter.
Google reached a deal with GSA to lower federal government costs for its products and services, including a temporary 71% discount for Workspace until 2025. It also expanded pricing for its GCP services and added AI features.
Nintendo and Sony plan price hikes on game consoles due to US tariffs, with consumers potentially paying up to 30% more. Microsoft may have smoother sales.
Purple has gotten torched over the last six months - since October 2024, its stock price has dropped 25.8% to $0.67 per share. This might have investors contemplating their next move.
Shareholders of TransUnion would probably like to forget the past six months even happened. The stock dropped 32.3% and now trades at $71.53. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
A number of stocks fell in the afternoon session after stocks gave back some of the gains from the previous day as the White House clarified the tariffs on imports from China would add up to 145%, while the baseline 10% tariffs remained in place for all countries. This reminded markets that the global trade environment remained volatile, limiting the potential for sustained gains.
Shares of smart home company SmartRent (NYSE:SMRT) fell 29.5% in the morning session after the company announced that sales for Q1 2025 would fall 18-20% compared to the previous year, raising concerns about weakening demand and competitive pressures which could negatively impact investor confidence and future growth prospects. Compounding the uncertainty, President and CEO Shane Paladin resigned, prompting the board to appoint Chairman John Dorman as interim CEO. The leadership transition, particularly during a period of financial underperformance, may deepen market anxiety regarding the stability of the business while the board searches for a permanent successor.
