Markets opened the week with muted activity across major indexes. The S&P 500 (ES) dipped 0.2%, the Nasdaq 100 (NQ) slipped 0.1%, while the Russell 2000 (RTY) managed a modest gain of 0.2%. Despite the overall flat performance, several notable names stood out with big moves—both to the upside and downside.

Here’s a breakdown of the day’s most notable stock stories:

COIN (+9.6%)
Coinbase surged nearly 10% after S&P Dow Jones Indices announced the cryptocurrency platform will be added to the S&P 500 index, replacing Discover Financial Services. The inclusion will be effective before the market opens on May 19. Index additions often result in increased buying activity from funds tracking the index.

BA (+0.5%)
Boeing shares ticked higher as China lifted a month-long suspension on aircraft deliveries. This development marks a positive turn for Boeing’s commercial business in one of its most critical international markets.

HTZ (-8%)
Hertz tumbled 8% after reporting a wider-than-expected loss per share and a revenue miss. The rental car company continues to struggle with cost pressures and weaker demand trends, particularly in the electric vehicle fleet segment.

HMC (-5%)
Honda fell 5% after forecasting a sharp 59% drop in operating profit for the upcoming fiscal year. The company cited higher U.S. tariffs and a strengthening Japanese yen as major headwinds. Honda also delayed its plan to build an electric vehicle value chain in Canada by two years, raising investor concerns about its EV transition strategy.

ONON (+5.5%)
Shares of On Holding climbed after the Swiss athletic footwear maker posted a top-line beat and raised its net sales growth forecast through fiscal 2025. The company continues to gain traction in both performance and lifestyle segments, underpinned by strong brand momentum.

UNH (-8%)
UnitedHealth Group suffered a steep decline following a leadership transition announcement. The healthcare giant also suspended its 2025 outlook, citing unexpectedly high medical expenditures. The guidance pause spooked investors already wary of rising healthcare utilization rates.

UAA (+2.5%)
Under Armour posted better-than-expected earnings and revenue, while also offering a solid profit forecast for the next quarter. Investors responded positively to signs of stabilization following several quarters of operational turbulence and restructuring.

AMZN (+0.1%) & FDX (+1.5%)
Amazon rose slightly after announcing a new partnership with FedEx. While details remain limited, the collaboration is seen as a strategic shift for Amazon’s logistics and delivery network, which has traditionally favored in-house capabilities.

While today’s market action was relatively subdued, earnings surprises and macro headlines continue to move individual stocks in a big way. With the S&P 500 reshuffling on the horizon and global policy uncertainties, investors should keep a close eye on sector rotation, leadership changes, and earnings guidance for clues on market direction.