S&P 500 Gains and Losses Today: Expedia Soars as Holiday Bookings Drive Earnings Beat

Major U.S. equities indexes moved lower to close out the trading week as the January jobs report showed slower-than-expected hiring but a downtick in the unemployment rate. Despite the slump in job additions, the overall resilience in the labor market could encourage the Federal Reserve to hold off on additional interest-rate cuts.

The S&P 500 and the Dow ended Friday’s session with daily losses of roughly 1.0%. The tech-heavy Nasdaq fell 1.4%.

Ulta Beauty (ULTA) shares dropped 6.7% after fellow cosmetics and skin care provider E.L.F. Beauty (ELF) reported lower-than-expected quarterly profits and reduced its full-year guidance. E.L.F. shares tumbled 19.6%, and the CEO of the California-based company pointed to negative impacts in January from the Los Angeles wildfires and the uncertain outlook for TikTok.

Higher-than-expected wage growth in the January jobs report and worsening consumer sentiment on inflation contributed to an uptick in Treasury yields, and concerns about higher mortgage rates pressured homebuilder stocks. D.R. Horton (DHI) shares fell 5.0%, while shares of other residential construction companies also lost ground. Speculation about the impact of possible tariffs, especially on lumber imported from Canada, has also weighed on the industry.

Although solar technology company Enphase Energy (ENPH) beat quarterly sales and profit estimates in results released Tuesday, several research firms trimmed their price targets on the stock following the report. Bank of America analysts said an uncertain outlook for overall demand contributed to their scaled-back expectations. Enphase shares lost 4.5% on Friday.

Expedia Group (EXPE) shares jetted 17.3% higher after a jump in holiday bookings helped the online travel platform beat fourth-quarter sales and profit estimates. Gross bookings and nights booked also came in ahead of consensus forecasts, and Expedia reinstated its quarterly dividend, which it suspended during the COVID-19 pandemic in 2020.

Take-Two Interactive Software (TTWO) reported a narrower-than-expected quarterly loss, and shares of the video game maker surged 14.0%. The company cited strength from its “NBA 2K” title and affirmed plans for a fall 2025 launch of “Grand Theft Auto VI.” JPMorgan analysts praised Take-Two’s resilient performance despite industry challenges, and the company forecasted record net bookings levels in fiscal 2026 and 2027.

Monolithic Power Systems (MPWR) topped quarterly sales and profit forecasts, and its shares gained 9.0%. The power management chipmaker highlighted strong sales growth in its enterprise data and automotive businesses, driven by demand for artificial intelligence (AI) and advanced driver assistance systems. Monolithic’s sales forecast for the current quarter also exceeded estimates, and KeyBanc analysts lifted their price target on the stock.

Billionaire investor Bill Ackman said his fund Pershing Square Capital Management has accumulated a stake worth over $2 billion in Uber Technologies (UBER), and shares of the ridesharing giant added 6.6%. Friday’s gains marked a bounce back from losses earlier in the week after Uber issued guidance for underwhelming gross bookings for the current quarter.