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The S&P 500 declined by 0.5% on Friday, Jan. 31, as investors digested the White House’s proposed tariffs on Canada, China, and Mexico.

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After Apple CEO Tim Cook said the iPhone maker is seeing record iPhone upgrades with the rollout of Apple Intelligence, several analysts raised their price targets for the company's stock, pointing to AI updates as a potential source of growth.

Pharmaceutical company AbbVie (NYSE:ABBV) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 5.6% year on year to $15.1 billion. Its non-GAAP profit of $2.16 per share was 4.3% below analysts’ consensus estimates.

Medical device company ResMed (NYSE:RMD) announced better-than-expected revenue in Q4 CY2024, with sales up 10.3% year on year to $1.28 billion. Its non-GAAP profit of $2.43 per share was 5.2% above analysts’ consensus estimates.

Medical technology company Intuitive Surgical (NASDAQ:ISRG) announced better-than-expected revenue in Q4 CY2024, with sales up 25.2% year on year to $2.41 billion. Its non-GAAP profit of $2.21 per share was 23.8% above analysts’ consensus estimates.

Deckers is Leading S&P 500 Decliners After Reporting Earnings Late Thursday

Life sciences company Neogen (NASDAQ:NEOG) beat Wall Street’s revenue expectations in Q4 CY2024, but sales were flat year on year at $231.3 million. Its non-GAAP profit of $0.11 per share was in line with analysts’ consensus estimates.

Shares of footwear and apparel conglomerate Deckers (NYSE:DECK) fell 16.8% in the morning session after the company reported mixed fourth quarter results: its full-year revenue guidance slightly missed even though the company raised it. The sales guidance suggested a steady slowdown in growth to the mid-teens. On the other hand, Deckers blew past analysts' constant currency revenue and EPS estimates. Overall, this quarter had some key positives, but the market was expecting even better results.

Nvidia CEO Jensen Huang is set to meet with President Donald Trump at the White House Friday, after a wild week for the chipmaker's stock.