Synopsys Sinks as China Restrictions Hurt Outlook | Global News Avenue

Major U.S. stock indexes hovered near all-time highs in Thursday trading before closing lower ahead of Friday morning’s jobs report.

The S&P 500 fell 0.2%, ending a streak of four consecutive record closing highs. The Nasdaq and the Dow fell 0.2% and 0.6% respectively, also retreating from all-time highs.

Synopsys (SNPS) share price plummeted 12.4%, Biggest losers in S&P 500. While the electronic design automation company beat quarterly revenue and profit estimates, its fiscal 2025 sales outlook was weaker than expected, reflecting pressure on its China operations from new U.S. restrictions on semiconductor technology exports. Shares of electronic design software maker Cadence Design Systems (Domain name resolution system) fell 6.4%.

Uber Technologies (Uber) shares fell 9.6%, Waymo, a self-driving company owned by Google parent company Alphabet (Google) announced plans to expand its robotaxi service to Miami, Florida. Waymo said it will begin testing vehicles in the city early next year and plans to launch a Miami taxi fleet in 2026, which could disrupt the ride-sharing business. Shares of Uber rival Lyft (Laifu) fell by 10.1%.

Aluminum prices edged higher this week after China’s Ministry of Finance canceled export tax rebates for aluminum and copper. Analysts expect the move to limit global aluminum supplies and support higher metal prices. Ball Corporation’s stock (ball), a supplier of beverage cans and other aluminum packaging, fell 5.8% on Thursday.

Shares of whiskey maker Brown-Forman (BF.B) has been a top performer, rising 10.7% on Thursday, leading all S&P 500 stocks. The maker of Jack Daniel’s beer reported better-than-expected quarterly sales and profits, highlighting the strength of its Woodford Reserve brand and expectations for international sales to help drive organic growth in fiscal 2025.

Tesla (TeslaThe company’s shares rose 3.2% after several research analysts posted positive news. Bank of America analysts visit Tesla’s Austin Gigafactory raised their price targets Regarding Tesla stock, pointed to the potential impact of the company’s Optimus humanoid robot, which is already used in its energy storage division.

American Airlines shares climb after American AirlinesAsian Airlines Association) and Southwest Airlines (low uv) raised its guidance, citing strong travel demand. American Airlines also announced an extension of its credit card partnership with Citibank (C), the airline’s shares soared 16.8%. United Airlines stock (University of London College of Art), Delta Air Lines (Dar) and Southwest Airlines rose 3.2%, 2.4% and 2.0% respectively.