Closing Bell Movers: Gap down 15%, Elastic off by 11% on earnings

In the opening hour of the evening session, U.S. equity futures are down slightly, with S&P 500 e-minis down 0.2% at 5,911, Nasdaq 100 down 0.3% at 21,353, and Dow Industrials off by 0.1% at 42,221.  In commodities, WTI Crude Oil is down marginally below $61 per barrel, remaining in a tight $3 range for the past two weeks.  In precious metals, Gold is off by 0.2% below $3,340 per ounce following Thursday’s bullish action but also locked in a sideways trading pattern.  

Stocks were able to preserve overnight gains on Thursday spurred by the ruling of the U.S. Court of International Trade invalidating Trump’s tariff agenda, though today’s ruling by an Appellate court has suppressed that decision.  Real Estate, Health Care, and Utilities were the best performing sectors on the S&P as Treasury yields fell steeply. Communication services underperformed however, with weakness in Netflix, Gaming companies, and Cable names.

In earnings, Computer Hardware space saw mixed performance with a slight post-earnings rally by Dell but a sizable post-earnings decline in NetApp shares.

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

HIGHER AFTER EARNINGS –

• Red Robin Gourmet Burgers (RRGB) up 54.6%
• UiPath (PATH) up 9.4%
• Ulta Beauty (ULTA) up 8.3%
• Zscaler (ZS) up 3.5%
• Dell Technologies (DELL) up 1.7%

DOWN AFTER EARNINGS –

• American Eagle Outfitters (AEO) down 7.5%
• NetApp (NTAP) down 5.5%
• PagerDuty (PD) down 3.7%
• Marvell (MRVL) down 2.7%
• Costco (COST) down 0.4%

ALSO LOWER –

• Newsmax (NMAX) down 8.5% after filing for resale of common stock for holders