FMC plunges 33% on lower quarterly earnings projection

Uber decreases after directing Q1 bookings below price quotes

*

Indexes: Dow up 0.15%, S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon rates)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and the Nasdaq slipped on Wednesday, with Alphabet the most significant drag after the tech giant’s dour cloud income and large financial investments into artificial intelligence disappointed investors, while a variety of revenues contributed to the volatility.

Google-parent Alphabet dropped 8.2% after publishing downbeat cloud profits growth and allocating a higher-than-expected $75 billion for its AI buildout this year.

"The market has some proof to recommend that there are other companies that potentially doing it more affordable, better, faster, quicker,” said Dave Grecsek, managing director in and research study at Aspiriant.

"So what is the knowledge of continuing to maintain high capex?“

AI-related stocks were rocked last week following the skyrocketing appeal of an inexpensive Chinese artificial intelligence design established by startup

DeepSeek

. Nvidia, among the business that was the worst hit, was up 3.8% on the day.

Advanced Micro Devices, forum.pinoo.com.tr on the other hand, lost 8.9% after CEO Lisa Su said the company’s current-quarter data center sales - a proxy for its AI income - would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity suddenly slowed in January amidst cooling demand, assisting curb rate growth, a reading from the Institute for Supply Management revealed.

Private payrolls increased by 183,000 tasks last month, compared to an estimated 150,000 increase, per economists surveyed by Reuters. The critical January nonfarm payrolls report is expected to be launched on Friday.

Shares of Apple alleviated 1.2% as Bloomberg News reported that China’s antitrust regulator was getting ready for a possible investigation of the iPhone maker.

At 11:33 a.m. ET, funsilo.date the Dow Jones Industrial Average increased 65.83 points, or 0.15%, accc.rcec.sinica.edu.tw to 44,621.87, library.kemu.ac.ke the S&P 500 lost 4.37 points, or links.gtanet.com.br 0.08%, to 6,033.51 and the Nasdaq Composite lost 70.17 points, or 0.34%, to 19,586.61.

Eight of the 11 S&P 500 sectors traded greater, though communication services’ over 3% fall obscured gains.

Uber Technologies dropped 7.2% after the ride-hailing company forecast current-quarter reservations listed below estimates.

Fiserv advanced 7.1% as the payments firm beat estimates for fourth-quarter earnings, assisted by strong demand in its banking and payments processing system.

Markets also searched for developments on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to talk to Chinese President Xi Jinping to attempt to defuse a new trade war between the countries.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, but flagged uncertainty around the effect of new tariffs, ai-db.science immigration, regulations and other Trump administration initiatives.

Among leading movers, FMC Corp plunged 33.6% after the agrichemicals manufacturer forecast first-quarter revenue below quotes.

Johnson Controls leapt 11.1% as the building options business named Joakim Weidemanis as ceo and king-wifi.win raised its 2025 earnings forecast.

Advancing issues outnumbered decliners by a 2.03-to-1 ratio on the NYSE and by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 published 27 new 52-week highs and 12 new lows, while the Nasdaq Composite tape-recorded 81 brand-new highs and 69 new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru