Closing Bell Movers: DoorDash spikes 12% after Q1 earnings beat

Strong earnings out of the Tech sector and receding Middle East tension remained the overarching theme in Wednesday’s trading, with Basic Materials, Industrials, and Technology sectors helping the S&P 500 to fresh record highs, while Energy was a significant laggard.  Oil prices falling sharply below $90 reduced the geopolitical premium as Exxon Mobil (XOM) and Chevron (CVX) both fell about 4%.  Treasuries were also bid as yields on 10-year slipped 6bps to 4.36% and 30-year slipped 4bps to 4.94%, with fixed income remaining the direct beneficiary of U.S.-Iran de-escalation via reduced inflation expectations.

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In the opening hours of the evening session, S&P e-minis and Nasdaq 100 contracts are down about 0.2% each and WTI Crude is back above $95 per barrel.  Afterhours earnings session saw a mixed bag of reports from Consumer Cyclical space – DoorDash (DASH) was up double-digits on surprisingly strong results as Total Orders increased 27% y/y in Q1 while Whirlpool (WHR) was down sharply.  In Internet Services, Zillow (ZG) was sharply lower despite beating on top and bottom line as Q2 revenue guide was softer than expected while Snap (SNAP) slipped 8%.

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

HIGHER AFTER EARNINGS –

• Noodles & Company (NDLS) up 21.1%
• Fortinet (FTNT) up 16.7%
• Kulicke and Soffa Industries (KLIC) up 15.7%
• Cognex (CGNX) up 14.3%
• Array Technologies (ARRY) up 12.6%
• DoorDash (DASH) up 12.0%
• EZCORP (EZPW) up 10.7%
• Envista Holdings (NVST) up 9.0%
• PTC Inc. (PTC) up 8.2%
• Ormat Technologies (ORA) up 8.0%
• AppLovin (APP) up 0.8%

DOWN AFTER EARNINGS –

• Fastly (FSLY) down 24.7%
• Whirlpool (WHR) down 16.2%
• Tutor Perini (TPC) down 11.6%
• Core Scientific (CORZ) down 8.4%
• Amprius Technologies (AMPX) down 8.1%
• Snap (SNAP) down 7.9%
• Coherent (COHR) down 7.8%
• Arm (ARM) down 7.3%
• IonQ (IONQ) down 6.5%
• Zillow (ZG) down 4.4%