By Francesca Fontana

The Score is a weekly review of the biggest stock moves and the news that drove them.

Toyota Motor

The ever-shifting tariff landscape had markets on edge this week, including global auto stocks, as traders digested rapid developments from the Trump administration.

On Wednesday -- the day after 25% tariffs on Mexico and Canada went into effect -- the White House said that automakers would get a one-month reprieve from the levies for cars that comply with a free-trade agreement between those two nations and the U.S.

Commerce Secretary Howard Lutnick said on CNBC Thursday morning that a one-month tariff reprieve could extend beyond just automakers. Later that day, President Trump suspended the levies on goods that fall under the United States-Mexico-Canada Agreement until April 2.

American depositary receipts of Toyota rallied 6.5% Wednesday.

Kroger

Chief Executive Rodney McMullen resigned from Kroger following a board investigation into his personal conduct, ending a more than four-decade career at the grocery giant.

Kroger, the biggest U.S. supermarket chain by sales, said Monday that lead independent director Ronald Sargent will serve as chairman and interim CEO while the company searches for a permanent replacement.

Kroger said that its board was made aware of conduct by McMullen that was inconsistent with its ethics policy -- conduct that the company said wasn't related to Kroger's financial performance, operations or reporting, and didn't involve any Kroger associates.

The leadership shake-up came days before Kroger's fourth-quarter earnings report, in which the company posted lower-than-expected quarterly sales and gave disappointing 2025 guidance.

Kroger shares fell 3% Monday.

Target

Target was the latest retail giant to warn investors about the looming impacts of consumer uncertainty and escalating tariffs.

The company on Tuesday said its February sales fell year-over-year, citing declining consumer confidence and cold weather, and warned that its sales could be flat this year. U.S. consumer confidence has been slipping, in part on fears of higher prices due to the Trump administration's tariff campaign.

A similar reading from Walmart spooked investors last month, when executives set lower-than-expected fiscal-year revenue and profit targets.

Target shares fell 3% Tuesday.

Marvell Technology

Chip stocks lost some power on Thursday, as investors searching for the next AI giant digested modest results from chip maker Marvell Technology.

Marvell flagged a slowdown in its data-center business, reporting narrowly better-than-expected revenue and in-line projections for this quarter.

The day's broader selloff included fellow semiconductor manufacturer Broadcom, with its shares declining 6.3% ahead of its own earnings report late Thursday. Both Marvell and Broadcom have developed fast-growing businesses building custom AI chips for tech giants such as Amazon.com and Alphabet's Google.

Marvell shares plummeted 20% Thursday.

Walgreens Boots Alliance

Walgreens Boots Alliance's nearly 100-year run as a public company is coming to a close.

In one of the biggest leveraged buyouts in recent memory, the storied pharmacy chain on Thursday was sold to private-equity firm Sycamore Partners for $10 billion -- 91% lower than its peak valuation of $106 billion in 2015.

Over the years, Walgreens failed to keep up with fierce competition, the rise of e-commerce and the growing power of pharmacy-benefit managers.

The Wall Street Journal first reported in mid-December that Sycamore was in talks for a deal and earlier this week reported that talks were advanced.

Walgreens shares gained 7.5% Friday.

Gap

Gap's new digs were a hit over the crucial holiday season.

The apparel company posted better-than-expected sales and profit in its latest quarter, as its turnaround efforts continue to show results.

Among its brands, Gap, Banana Republic and Old Navy logged gains of 7%, 4% and 3% in comparable sales, respectively, offsetting a 2% decline from Athleta.

Gap also said it has "minimal" exposure to tariffs. Chief Financial Officer Katrina O'Connell said less than 10% of Gap's products come from China and less than 1% come from Canada and Mexico. O'Connell also said the retailer is expecting more customers as the weather gets warmer.

Gap shares surged 19% Friday.

Our weekly markets news roundup is now part of the WSJ's What's News podcast. Host Francesca Fontana discusses the biggest stock moves of the week and the news that drove them. Check out What's News in Markets at wsj.com/podcasts or wherever you listen.

Write to Francesca Fontana at francesca.fontana@wsj.com.

(END) Dow Jones Newswires

March 07, 2025 17:20 ET (22:20 GMT)

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