DoorDash Drives Higher on a New Partnership; Bristol-Myers Squibb Stock Falls

Shares of a delivery giant surged Friday on a new partnership, while a pharmaceutical firm came under pressure after it halted a trial of a key heart treatment.

Major U.S. equities indexes ended the session mixed but posted gains for the week. With the record federal government shutdown over, attention has turned toward delayed economic reports and their potential impact on the Federal Reserve’s final interest-rate decision of 2025. The Dow dropped 0.7%, and the S&P 500 edged 0.1% lower, while the Nasdaq eked out a 0.1% gain Friday. For more from Investopedia on Friday’s markets news, see here.

DoorDash (DASH) shares jumped 6% to log the S&P 500’s top performance Friday, after the delivery platform operator announced a partnership with apparel retailer Old Navy. The expansion into on-demand apparel delivery marks a move beyond DoorDash’s core restaurant delivery business. With the uptick heading into the weekend, DoorDash stock clawed back some of the losses it suffered last week after the delivery firm missed third-quarter profit estimates and suggested that heavy spending on new initiatives could weigh on future profitability.

Morgan Stanley named Micron Technology (MU) stock as a “top pick” and boosted its price target, and shares of the memory chip manufacturer gained 4.2%. Analysts pointed to a surge in pricing for memory chips, especially Micron’s Double Data Rate 5 products, which the investment bank noted are seeing strong demand related to the buildout of AI data centers.

Shares of Warner Bros. Discovery (WBD) advanced 4% following reports that Paramount Skydance (PSKY), Comcast (CMCSA), and Netflix (NFLX) are all preparing offers to take over the CNN and HBO parent.

In addition to its possible bid for Warner Bros. Discovery, Netflix is preparing for a 10-for-1 stock split, with shares set to begin trading on a split-adjusted basis on Monday. Shares of the video streaming giant sank 3.6% on the final trading day ahead of the split.

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

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