Stock Market Update
03-Dec-25 14:30 ET
S&P 500 rises 0.4% as Vertex, BMY lead gains; Sandisk, PSTG lag on NAND delays and weak earnings
Dow +452.27
at 47926.52,
Nasdaq +59.58
at 23473.29,
S&P +27.53
at 6856.89
[BRIEFING.COM] The S&P 500 (+0.40%) is in second place on Wednesday afternoon, up about 28 points.
Briefly, S&P 500 constituents onsemi (ON 55.89, +4.41, +8.57%), Vertex Pharma (VRTX 462.13, +28.98, +6.69%), and Bristol-Myers (BMY 51.19, +2.94, +6.09%) dot the top of the standings. VRTX is being helped today by a Morgan Stanley upgrade to Overweight citing kidney pipeline optimism, while BMY jumps as the company moves forward with additional patient enrollment in its ADEPT-2 study after FDA-approved data adjustments, signaling continued progress for its potential first-in-class Cobenfy treatment for agitation and psychosis.
Meanwhile, storage firm Sandisk (SNDK 189.05, -16.30, -7.94%) is one of today's worst laggards; the stock appears to be being hit on a report out of TrendForce suggesting the company and Samsung (SSNLF 65.21, flat) have delayed NAND delivery to Transcend, resulting in a price hike. Also applying pressure is today's steep losses from all-flash storage firm Pure Storage (PSTG 69.25, -25.47, -26.89%) post earnings.
