Weekly Market Recap:
U.S. equities declined sharply this week, with the Dow (-2.37%), S&P 500 (-3.10%), Nasdaq (-3.45%), and Russell 2000 (-4.05%) all posting losses. The Nasdaq briefly dipped into correction territory, weighed down by steep losses in Big Tech, including Tesla (-10.4%) and Nvidia (-9.8%). Other laggards included IT services, casinos, airlines, and oil majors, while managed care, household products, China tech, and pharma outperformed. Treasuries were mixed, the dollar weakened, Bitcoin rose (+4%) after Trump signed an order establishing a strategic Bitcoin reserve, gold set a new record (+2.3%), and WTI crude extended its losing streak (-3.9%).
Corporate Highlights:
Target (TGT -7.4%): Q4 earnings beat, 2025 EPS guidance slightly ahead, but cautious consumer outlook.
Best Buy (BBY -11.7%): Unexpectedly positive comps, but weaker guidance.
CrowdStrike (CRWD -14.1%): Declining ARR and soft Q1/FY26 guidance weighed on shares.
Walgreens (WBA +6.6%): Entered agreement to go private with Sycamore Partners.
Nvidia (NVDA -9.8%): Hit by concerns over AI capex and manufacturing tests with Intel.
Tesla (TSLA -10.3%): Weak sales trends in Europe and China pressured stock.
Sector Performance:
Outperformers: Healthcare (+0.17%), Utilities (+2.44%), Communication Services (+1.97%).
Underperformers: Financials (-5.92%), Consumer Discretionary (-5.41%), Tech (-3.39%).
Markets reacted to escalating trade tensions, weaker economic data, and ongoing policy uncertainty. Investors now turn their attention to next week’s CPI report, PPI data, and key earnings from Oracle, Adobe, and Dollar General.
Walgreens is set to go private in a deal valued at nearly $24 billion, marking the end of its nearly century-long run as a publicly traded company. The decision comes after years of declining stock value, store closures, and increased competition from both online and traditional retailers. Private equity firm Sycamore Partners will take over the struggling drugstore chain, aiming to revamp its operations away from the pressures of the public markets. For investors, this move signals both caution and opportunity. Walgreens has faced growing challenges, from shrinking prescription reimbursements to the dominance of CVS and Amazon in the healthcare space. While Sycamore’s retail expertise could help stabilize the company, concerns remain about further cost-cutting measures, asset sales, and the long-term viability of Walgreens' business model. Market watchers will be closely analyzing how this privatization impacts retail and healthcare stocks. Competitors like CVS and Rite Aid could benefit from Walgreens' restructuring, while the broader market may see shifts in consumer healthcare investments. Additionally, private equity involvement in a major retail player raises questions about future acquisitions and potential industry consolidation. With the deal expected to close in late 2025, the months ahead will determine whether this transition sparks a true turnaround or further underscores the struggles of traditional pharmacy chains. Investors and analysts alike will be monitoring how Sycamore navigates this complex transformation.
What to watch:
Notable Earnings:
Monday (3/10)
Oracle Corp. ($ORCL)
HighPeak Energy Inc. ($HPK)
Tuesday (3/11)
Kohl's Corp. ($KSS)
Dick's Sporting Goods Inc. ($DKS)
Groupon Inc. ($GRPN)
Wednesday (3/12)
iRobot Corp. ($IRBT)
Adobe Inc. ($ADBE)
Thursday (3/13)
Dollar General Corp. ($DG)
Vaalco Energy Inc. ($EGY)
Ulta Beauty Inc. ($ULTA)
Friday (3/14)
Buckle Inc. ($BKE)
Gogo Inc. ($GOGO)
Notable Ex-Dividend Dates:
Monday (3/10)
Alphabet ($GOOGL) 0.40%
FedEx ($FDX) 2.09%
General Electric ($GE) 0.69%
Tuesday (3/11)
Omnicom Group ($OMC) 3.42%
TELUS ($TU) 7.10%
Wednesday (3/12)
HP ($HPQ) 3.53%
NV(D(A (NVDA) 0.03%
Southwest Airlines ($LUV) 2.32%
Thursday (3/13)
Home Depot ($HD) 2.41%
Public Storage ($PSA) 3.90%
Friday (3/14)
Domino's Pizza ($DPZ) 1.30%
eBay (EBAY) 1.68%
Nasdaq ($NDAQ) 1.18%
*Dividend Aristocrat
