Stock Movers: CoreWeave, Pfizer, Spotify, and More on Closing Bell

Market Performance and Sector Overview

• 📈 The S&P 500 saw 301 names advancing and 201 declining on the final trading day of September and the third quarter.
• 🟢 Sectors showing strength included big tech and healthcare, while energy, consumer discretionary, and communication services lagged.

Key Company Movers

• ☁️ CoreWeave shares rallied nearly 12% after securing a deal to supply Meta Platforms with up to $14.2 billion in computing power through 2031, diversifying its business beyond Microsoft.
• 💊 Pfizer was the top gainer in the S&P 500, rising 7% following reports that President Trump would announce an agreement for the company to voluntarily sell medications at lower prices through Medicaid.
• 🍟 Lamb Weston shares gained over 4% after reporting first-quarter adjusted earnings and net sales that beat estimates, driven by improved restaurant foot traffic, particularly in fast-food chicken establishments.
• 🎧 Spotify shares fell 4.2% as CEO Daniel Ek transitions to Chairman, with Gustav Söderström and Alex Norström taking over as co-CEOs effective January 1st.
• 💸 DraftKings experienced a significant drop of 11.6% due to increased competition from Robin Hood, which now allows users to trade contracts on the outcomes of sporting events.
• 🏠 Rocket Companies and Zillow saw declines, with Rocket Companies down 3.8% and Zillow down 4.3%, after the FTC sued to block a partnership between the two, citing concerns over reduced apartment listing websites and increased advertising prices.

Market Trends and Yields

• 📉 Consumer finance stocks, including Capital One, experienced a notable drop.
• 📊 Yields saw a relative quiet end to the month, with an overall drop in yields over the course of September, leading to decent returns in the Treasury and corporate fixed income markets.