Closing Bell Movers: Arm sinks over 10% as guidance falls short

In the opening 90 minutes of the evening session, U.S. equity futures are little changed, with S&P 500 at 5,650, Dow Industrials just below 41,200, and Nasdaq 100 just shy of 20,000 level.  WTI crude oil is also flat at $58 per barrel and Gold down slightly below $3,380 per ounce.

Investors are processing the latest policy decision from FOMC, with the Fed expressing concern both regarding the risks of higher unemployment as well as uncertainty.   In his accompanying remarks, Chairman Powell warned that tariffs are driving inflation expectations but noted that the Fed remains ‘well positioned to wait for greater clarity’.  Following the decision, fixed income markets are now more resolute in expectations of three 25bps rate cuts by 2025-end, with a smaller probability of a four-cut easing than going into today’s decision.

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

HIGHER AFTER EARNINGS –

• LegalZoom.com (LZ) up 14.9%
• AppLovin (APP) up 13.4%
• Tutor Perini (TPC) up 11.6%
• Groupon (GRPN) up 10.7%
• Magnite. (MGNI) up 10.1%
• Sunrun (RUN) up 9.6%
• Tetra Tech (TTEK) up 8.7%
• MercadoLibre (MELI) up 7.9%
• QuidelOrtho (QDEL) up 7.7%
• Marriott Vacations Worldwide (VAC) up 7.4%
• PureCycle Technologies (PCT) up 6.4%
• Fastly(FSLY) up 5.8%
• CoreCivic (CXW) up 5.8%
• Niagen Bioscience (NAGE) up 5.7%
• Remitly Global. (RELY) up 5.3%
• Pitney Bowes (PBI) up 5.0%
• Revolution Medicines (RVMD) up 3.7%
• Carvana (CVNA) up 2.3%

ALSO HIGHER –

DOWN AFTER EARNINGS –

• A-Mark Precious Metals (AMRK) down 14.2%
• Fortinet (FTNT) down 12.1%
• Arm Holdings  (ARM) down 11.1%
• AerSale (ASLE) down 10.8%
• Cleveland-Cliffs (CLF) down 10.6%
• Genpact Limited (G) down 7.2%
• SkyWater Technology (SKYT) down 6.3%
• Zillow Group (ZG) down 5.2%
• Skyworks (SWKS) down 4.2%
• Flutter Entertainment (FLUT) down 1.8%

ALSO LOWER –

• Compass Diversified (CODI) down 8.7% after disclosing non-reliance on prior financial statements