Stocks were modestly lower Friday, a day after the Dow Jones Industrial Average and S&P 500 closed at record highs following the Federal Reserve’s half-point cut to interest rates.These stocks were making moves Friday:Shares of FedEx were tumbling 13% after the shipping and logistics company reported fiscal first-quarter adjusted earnings that widely missed Wall Street estimates amid a slump in demand and cut its fiscal 2025 outlook.

Tesla’s stock soared by 7.36% today, closing at $243.92. The electric vehicle maker’s shares hit an intraday high of $244.24 and a low of $232.13. The 52-week high and low for Tesla stand at $273.93 and $138.8 respectively. Tesla’s stock reached a two-month high following the Federal Reserve’s rate cut.

Key Takeaways The S&P 500 and Nasdaq lost ground at midday Friday after rallying to record highs Thursday in the wake of the Federal Reserve's rate cut.FedEx shares fell after the package delivery firm missed profit and sales estimates and cut its outlook.

Shares of chip makers such as Nvidia and solar stocks rise after the Federal Reserve slashes interest rates, Intel says it has no plans to sell its majority stake in Mobileye, and Progyny sinks after a ‘significant’ client plans to terminate a services agreement.