Closing Bell Movers: Exelixis up 6% on earnings beat

In the opening hour of the evening session, U.S. equity futures are little changed, with S&P 500 flat at 5,903, Nasdaq 100 down 0.1% at 21.262, and Dow Industrials up 0.1% at 42,257.  In commodities, WTI Crude Oil has continued its ascend above $63 per barrel, sustaining those gains despite the large build in API crude stocks reported this evening, while Gold futures are up marginally around $3,260, finding support following the China tariff truce related plunge on Monday.  

Tech and Consumer Discretionary continued to lead the rebound in the S&P 500 on Tuesday, with the sector’s positive close today now taking the index into positive territory for the year.  Meanwhile, rotation into equities has sustained the pressure on U.S. Treasuries despite the softer than expected CPI data, with the yield on the 10-year rising further to a one-month high of about 4.5%  Fixed income markets have once again repriced expectations for Fed rate cuts to two following latest China trade developments, with Goldman Sachs also now seeing three rate cuts in 2025-26 before a cycle low while reducing its probability of a recession in the next 12 months to 35%.

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

HIGHER AFTER EARNINGS –

• IZEA Worldwide (IZEA) up 18.3%
• Everus Construction Group (ECG) up 12.8%
• a.k.a. Brands Holding Corp. (AKA) up 9.3%
• Capricor Therapeutics (CAPR) up 6.7%
• Exelixis (EXEL) up 6.1%

ALSO HIGHER –

• Heartland Express (HTLD) up 3.8% after insider buy
• Funko (FNKO) up 3.5% after being upgraded to Neutral at Goldman Sachs 

DOWN AFTER EARNINGS –

• GRAIL (GRAL) down 16.3%
• QuickLogic (QUIK) down 6.7%
• Webtoon (WBTN) down 6.7%
• Alcon  (ALC) down 3.7%
• Nu Holdings (NU) down 2.8%
• Similarweb Ltd. (SMWB) down 2.1% 

ALSO LOWER – 

• American Eagle Outfitters (AEO) down 13.2% after Q1 pre-announcement, withdrawn guidance