Closing Bell Movers: Futures slip amid Middle East conflict risk

In the opening hour of the evening session, U.S. equity futures are slightly lower, with caution persisting following the first down day in the major markets after six days of gains.  Geopolitical/macro risks have resurfaced amid reports by CNN citing fresh intelligence obtained by the U.S. officials suggesting that Israel is preparing to strike Iranian nuclear facilities.  Futures on S&P500 is down 0.3% at 5,945, Nasdaq 100 is down 0.3% below 21,400, and Dow Industrials are off by 0.2% at 42,670.  Potential escalation in Middle East tensions has also driven Oil and safe-haven Gold prices higher.  WTI Crude is up 2.5% above $63.50 while Gold is back around $3,300 per ounce levels with a third consecutive session of higher opens.

In earnings this evening, Toll Brothers reported much better than expected Q2 revenues and earnings while affirming its FY25 deliveries outlook, soothing investor concerns over higher rates and a more cautious consumer impacting the homebuilder sector.  In tech, Palo Alto Networks slipped however despite the slight beat on top and bottom lines.

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

HIGHER AFTER EARNINGS –

• Keysight Technologies (KEYS) up 5.2%
• Evolv Technologies (EVLV) up 5.1%
• Toll Brothers (TOL) up 5.0%; KB Home (KBH) up 2.1%, Lennar (LEN) up 1.4%, D.R. Horton (DHI) up 1.3% in sympathy

DOWN AFTER EARNINGS –

• Palo Alto Networks (PANW) down 3.7%

ALSO LOWER –

• Wolfspeed (WOLF) down 59.1% after WSJ report the company is preparing Chapter 11 filing
• Siyata Mobile (SYTA) down 16.4%  after equity offering
• QXO (QXO) down 10.3% after equity offering
• Carter’s, Inc. (CRI) down 7.8% after dividend cut
• Centuri Holdings (CTRI) down 6.1% after equity offering
• TPG  (TPG) down 3.7% after equity offering
• Take-Two Interactive Software (TTWO) down 3.4% after equity offering
• Garrett Motion (GTX) down 3.3% after equity offering