Closing Bell Movers: CoreWeave down over 5% on lower sales, higher capex view

Investors shed high-momentum Tech and AI plays last week as concerns regarding overly aggressive spending and outsized valuations weighed on sentiment, but Monday saw a rip-roaring rotation back into the sector under the pretense of progress toward reopening of the U.S. government as S&P 500 ended the day up 1.5% and Nasdaq Composite by 2.3% – the biggest rally in months.  The first hour of trading in the evening session is now seeing those gains hold, with S&P e-minis and Nasdaq 100 contracts both higher by 0.1%.  In commodities, WTI Crude Oil has found its footing around $60 per barrel, while Gold and Silver are notably higher, rising to two-week lows above $4,120 and $50.40 per ounce respectively.

The earnings season is winding down, though Q3 results and commentary from CoreWeave – the proclaimed “Essential Cloud for AI” were of interest.  The company reported a beat on top and bottom line, though its revenue guidance for FY25 was cut due to delays in PowerShell delivery associated with data center provider, while the management also indicated that it intends to spend in FY26 “well in excess of double” of this year’s spending.   Later in the week, an earnings out of Applied Materials (AMAT) will give more insight on demand around semiconductor equipment, though reports from its peers earlier in the earnings season have been very constructive.

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

HIGHER AFTER EARNINGS –

• Hallador Energy (HNRG) up 21.4%
• The RealReal (REAL) up 17.8%
• BigBear.ai Holdings (BBAI) up 13.1%
• PubMatic (PUBM) up 13.1%
• Viant Technology (DSP) up 9.3%
• Rocket Lab (RKLB) up 7.0%
• Paramount Skydance (PSKY) up 5.6%
• Gevo (GEVO) up 4.7%
• Green Dot (GDOT) up 4.0%
• Red Robin Gourmet Burgers (RRGB) up 3.4%

DOWN AFTER EARNINGS –

• Beyond Meat (BYND) down 8.2%
• Life360 (LIF) down 7.0%
• CoreWeave (CRWV) down 5.4%
• Harrow (HROW) down 4.8%
• Gemini Space Station (GEMI) down 3.1%
• Rigetti Computing (RGTI) down 2.2%