Stock Movers Stellantis Shares Plummet; Molina Drops on Earnings; Under Armour Shares Rise
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Feb 6, 2026 A market roundup that spotlights a $26 billion write-down tied to a major automaker reversing its EV plan and the leadership shakeup behind it. A health insurer’s profit forecast misses badly and it exits Medicare Advantage drug plans, triggering a steep share selloff. An athletic apparel company surprises with quarterly profit and lifts its earnings outlook amid intense competition.
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Studio Snack Moment
- Alexis Christophorus mentioned mini cheese danishes in the studio as a light opening anecdote.
- He credited the food staff for bringing the tray during the show.
Stellantis' Costly EV Reversal
- Stellantis took a $26 billion charge mainly for reversing its EV strategy and canceling projects.
- The market punished the move with a sharp share drop while Ford and GM rose after scaling back EV commitments.
Market Rewards Cautious EV Strategy
- The market rewarded automakers that pulled back from aggressive EV spending, like Ford and GM, with sizable stock gains.
- Investors prefer a slower, more measured EV approach over large unproven bets.