Closing Bell Movers: Applied Materials down over 5% after Q2 results

In the opening hour of the evening session, U.S. equity futures are little changed, with S&P 500 just above 5,930, Nasdaq 100 at 21,390, and Dow Industrials up marginally at 42,418.  In commodities, WTI Cruide Oil is off Thursday’s lows and back above $61 per barrel after two days of selling, while Gold is rebounding above $3,250 per ounce after falling below $3,200 for the first time in over a month overnight.  

Following a negative start, S&P 500 ended the day in positive territory, though the index was led by the defensive Utilities and Consumer Staples sectors, while Technology and Consumer Discretionary – spaces that led the V-shaped bounce in the market up to now – had lagged.  Real Estate also had a better performance, with U.S. Treasury rates finally retreating after six consecutive session of higher yields following today’s negative PPI inflation data.  

In earnings this evening, Applied Materials was the highlight of the session, shedding over 5% afterhours on soft top-line in spite of an earnings beat.  Take-Two also slipped nearly 3% after Q4 results as the company was forced to drastically cut its earnings in the wake of pushing back its GTA VI timeline release to FY27.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Virgin Galactic (SPCE) up 14.9%

ALSO HIGHER –

• Teva Pharmaceutical (TEVA) up 3.4% after Moody’s upgrade

DOWN AFTER EARNINGS –

• Globant S.A. (GLOB) down 26.5%
• Doximity (DOCS) down 22.8%
• Quantum-Si (QSI) down 6.1%
• Applied Materials (AMAT) down 5.6%
• CAVA Group (CAVA) down 4.4%
• Take-Two (TTWO) down 2.9%
• Bit Digital (BTBT) down 2.4%

ALSO LOWER –

• Travere Therapeutics (TVTX) down 15.4% after FDA disclosure of acceptance of sNDA for Filspari