DoorDash makes greater progress thanks to new partnership; Bristol-Myers Squibb Stock Falls

Shares of a delivery giant rose on Friday thanks to a new partnership, while a pharmaceutical company came under pressure after halting a trial of a key heart treatment.

Major US stock indices ended the session mixed but posted gains for the week. With the federal government’s record shutdown ending, attention has turned toward delayed economic reports and their potential impact on the Federal Reserve’s final interest rate decision for 2025. The Dow Jones fell 0.7%, the S&P 500 fell 0.1%, while the Nasdaq gained 0.1% on Friday. For more Investopedia For Friday market news, see here.

DoorDash (DASH) shares jumped 6% to top the S&P 500 on Friday, after the delivery platform operator announced a partnership with clothing retailer Old Navy. The expansion into on-demand clothing delivery represents a step beyond DoorDash’s core restaurant delivery business. Heading into the weekend rally, DoorDash stock has recouped some of the losses it suffered last week after the delivery company missed third-quarter earnings estimates and suggested heavy spending on new initiatives could impact future profitability.

Morgan Stanley named Micron Technology (MU) stock a “Top Pick” and boosted its price target, and shares of the memory chip maker rose 4.2%. Analysts pointed to rising prices for memory chips, especially Micron’s Double Data Rate 5 products, which the investment bank noted are seeing strong demand in terms of building AI data centers.

Warner Bros. shares rose. Discovery (WBD) rose 4% after reports that Paramount Skydance (PSKY), Comcast (CMCSA), and Netflix (NFLX) are all preparing bids to acquire the parent company of CNN and HBO.

In addition to its potential offer to buy Warner Bros. Discovery, Netflix is ​​preparing for a 10-for-1 stock split, with shares scheduled to begin trading on an adjusted split basis on Monday. Shares of the video streaming giant fell 3.6% on the final trading day before the split.

Bristol-Myers Squibb (BMY) stock fell 4.1% after the biopharmaceutical company said it would stop a late-stage clinical trial of its experimental heart treatment Melvexian, which it is developing in collaboration with Johnson & Johnson (JNJ).

Moody’s lowered its debt ratings on Nike (NKE), and shares of the athletic footwear and apparel company fell nearly 3%. The credit rating agency cited increased competition and cost pressures related to tariffs as factors behind its more cautious outlook on Nike.