S&P 500 Gains and Losses Today: MGM Stock Surges as Macau, Digital Businesses Thrive

Major U.S. equities indexes moved higher as President Donald Trump signed an executive order instructing his administration to investigate reciprocal tariffs but stopped short of immediately imposing the taxes.

Thursday’s market action also coincided with the release of the latest Producer Price Index (PPI) data, which showed an uptick in wholesale inflation in January, echoing a similar indication from the prior day’s Consumer Price Index (CPI) report.

The S&P 500 closed the session 1.0% higher. The Dow industrials added 0.8%, while strength in the tech sector helped lift the Nasdaq 1.5%.

MGM Resorts (MGM) shares surged 17.5%, gaining the most of any S&P 500 stock after the casino and hotel operator topped sales and profit estimates for the fourth quarter of 2024. Sales growth from the company’s business in Macau underpinned the strong performance, while the MGM Digital segment provided an additional boost. Following the report, CFRA analysts upgraded MGM stock to “buy,” citing more upbeat financial forecasts and the company’s aggressive share buyback plans.

Shares of Molson Coors (TAP) soared 9.5% following the alcoholic beverage giant’s quarterly confessional. Although revenue ticked downward year-over-year, the brewer outperformed sales and profit forecasts, noting its success in holding onto recent market-share gains as well as favorable sales mix and pricing.

GE Healthcare Technologies (GEHC), the provider of medical products and services that spun off from General Electric in 2023, posted better-than-expected profits for the fourth quarter, and its shares jumped 8.8% on Thursday. Despite some weakness in China, the company benefitted from strength in the U.S., while strong demand for its advanced visualization solutions pharmaceutical diagnostics businesses contributed to revenue growth.

West Pharmaceutical Services (WST) shares suffered heavier losses than any other S&P 500 constituent on Thursday, plummeting 38.2%. Although the maker of injectable drug-delivery devices and other pharmaceutical packaging products topped fourth-quarter profit estimates, its 2025 guidance came in well below consensus forecasts. The company indicated that U.S. dollar strength, customer inventory clearing, and significant capital expenditures could weigh on future earnings.

An underwhelming outlook also overshadowed a strong earnings report for Zebra Technologies (ZBRA), which manufactures barcode scanners and other inventory-management systems. Although fourth-quarter sales and profits exceeded estimates, full-year revenue guidance fell short of forecasts, reflecting the impact of a strong dollar as well as uncertainties related to tariffs and global trade. Zebra Technologies shares fell 8.4%.

Shares of enterprise information management provider Iron Mountain (IRM) sank 7.3%. Although the company achieved a strong performance in its data center business and its storage and services segment, fourth-quarter revenue missed estimates, and elevated interest expenses pressured the results.