Stock Market Update
12-Mar-26 14:30 ET
S&P 500 slips 1.2% as FICO and Qnity Electronics slide, while Occidental rallies on Permian optimism
Dow -636.20
at 46779.96,
Nasdaq -332.86
at 22383.29,
S&P -83.22
at 6694.57
[BRIEFING.COM] The S&P 500 (-1.23%) is down about 83 points on Thursday afternoon, hosting the shallowest losses among the major averages.
Briefly, S&P 500 constituents Qnity Electronics (Q 106.53, -9.74, -8.38%), Fair Isaac (FICO 1075.23, -90.00, -7.72%), and SLB (SLB 44.60, -3.57, -7.41%) pepper the bottom of the average. FICO slides as investors worried that cheaper VantageScore pricing and potential GSE adoption could threaten its credit-score dominance, though analysts view these moves as largely marketing and operational, not strategic threats, while SLB falls as analysts cut Q1-Q2 EPS due to Middle East disruptions from the US/Iran conflict, though some firms raised price targets citing strong oil-service fundamentals offsetting near-term weakness.
Meanwhile, Occidental Petro (OXY 58.76, +3.18, +5.72%) is near the top of the standings as Wells Fargo and Piper Sandler upgraded the stock to Overweight on Permian capital efficiency and higher crude price forecasts amid the Iran conflict, lifting price targets to $69 and $66.
