Closing Bell Movers: Datadog jumps 11% on S&P 500 inclusion

In the opening hour of the evening session, U.S. equity futures are all little changed, with S&P 500 at 6,276, Dow Industrials just below 44,800, and Nasdaq 100 at 22,845.  In commodities, WTRI Crude Oil is consolidating Wednesday’s gains above $67 per barrel while metals saw more action in Industrial rather than Precious category – Copper is at March-highs of $5.20 while Gold is up marginally above $3,370 per ounce.  Investor focus turns to Thursday’s employment data for the month of June, though a negative print on the private-sector ADP gauge on Wednesday did not spoil sentiment.  

Energy and Materials led the gains on the S&P 500 on Wednesday while the defensively-oriented Utilities and Healthcare sectors underperformed.  Materials SPDR Sector ETF XLB saw its second consecutive session of strong gains on relatively-higher inflows to start the new quarter, having gained 4% over the past two session.  Major copper producer Freeport-McMoRan (FCX) also hit its best levels of the year.

Among afterhours movers,  observability software vendor Datadog (DDOG) soared over 10% after being selected to replace the recently-acquired Juniper Networks in the S&P 500 index.  Conversely, front-runner candidates Robinhood (HOOD) and AppLoving (APP) declined modestly on the snub.  

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

HIGHER AFTER EARNINGS –

• National Beverage (FIZZ) up 1.5%

ALSO HIGHER –

• Xponential Fitness (XPOF) up 20.4%after announcing SEC concluded investigation without action
• Datadog (DDOG) up 10.5% after inclusion in S&P 500 index
• 4D Molecular Therapeutics (FDMT) up 3.6% after announcing workforce cuts

DOWN AFTER EARNINGS –

• Franklin Covey Co. (FC) down 7.5%

ALSO LOWER –

• Borr Drilling (BORR) down 4.8% after equity offering
• Robinhood (HOOD) down 1.6%, AppLoving (APP) down 1.3% on S&P 500 inclusion snub