Closing Bell Movers: Karman falls over 10% after Q1 earnings miss

High-flying semiconductors and memory names were some of the worst-hit stocks on Tuesday as investors – fretting over the speed of the AI and data center demand frenzy – pulled back on Tech exposure.  The worst performer in the S&P 500 – Qualcomm (QCOM) – was down over 11% after the stock’s advance of 87% in just 3 weeks at its highs overnight.  Intel (INTC), Sandisk (SNDK), Western Digital (WDC) and Micron (MU), were down 7%, 6%, 5%, and 4% respectively, though all four names remain in the top 10 ranking in terms of S&P 500’s best performers for the year.  The rotation from high-momentum to value benefited the Healthcare space, which was the best performing sector in the benchmark today but remains the index’s worst sector for the year – Humana (HUM) was a standout here with a gain of over 7%, as the stock has now nearly doubled from its late-March lows.

Sentiment is cautious in the evening session as S&P e-minis and Nasdaq 100 contracts are both flat.  In commodities, WTI Crude Oil remains bid just below $102 per barrel as Middle East tension remains unresolved while base metals continue to trend higher as traders adjust to re-heating inflation expectations, with Copper up for the 4th straight session above $6.60.

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

HIGHER AFTER EARNINGS –

• Velo3D (VELO) up 22.3%
• SELLAS Life Sciences Group (SLS) up 14.4%
• Nextpower (NXT) up 10.5%
• Arteris (AIP) up 7.0%

ALSO HIGHER –

• Energy Vault (NRGV) up 5.1% after announcing strategic development agreement with Eskom

DOWN AFTER EARNINGS –

• Karman Holdings (KRMN) down 10.4%
• Resideo Technologies (REZI) down 7.3%
• Infinity Natural Resources (INR) down 7.2%
• Astronics (ATRO) down 5.4%
• Paysign (PAYS) down 3.8%
• Kura Oncology (KURA) down 2.1%
• Oklo (OKLO) down 1.5%