A wave of corporate news drove significant single-stock movements across sectors on Tuesday, highlighting divergent strategies in retail, technology, and health care.
Retail & E-Commerce Strategy Shifts
Amazon announced a strategic pivot, stating it will shutter its Amazon Fresh and Go physical grocery stores. The move sent its shares higher by more than 1%, while traditional grocers Kroger and Albertsons each fell roughly 3%. In delivery logistics, United Parcel Service (UPS) gained 3% after reporting strong quarterly results and announcing an additional 30,000 job cuts as it phases out its partnership with Amazon.
Technology Sector in Focus
Semiconductor firm Micron surged about 5% to a new closing high after unveiling plans for a major $24 billion advanced fabrication facility in Singapore. In social media, Pinterest tumbled nearly 10% following news it would cut 15% of its workforce to refocus on AI, while Reddit dropped 8% after its CTO sold nearly $3 million in stock. Corning soared 16% after revealing a multi-billion dollar supply agreement with Meta Platforms for AI data center cables.
Health Care Stocks Under Pressure
Major health insurers were sharply lower after regulators proposed a minimal 0.09% increase in 2027 Medicare Advantage payment rates, far below industry expectations. UnitedHealth Group and Humana each plummeted approximately 20%, while CVS Health slid 13%.
Earnings Drive Auto, Food, and Industrial Moves
General Motors jumped almost 9% after posting better-than-expected quarterly results, issuing strong guidance, and announcing a dividend hike and a $6 billion buyback. Sysco rallied 9% on an earnings beat and raised full-year outlook. Conversely, American Airlines fell over 5% after a Q4 miss, Roper Technologies dropped 13% on weak guidance, and Sanmina cratered more than 19% following its earnings report.