In the opening hour of the evening session, U.S. equity futures are trading lower as investors digest only a modest earnings beat and with slight upside relative to consensus out of Nvidia. S&P 500 is down 0.3%, Nasdaq 100 is down 0.5%, while Dow Industrials are flat. In energy, WTI Crude Oil is down 0.5% and back below $64 per barrel, while Metals are holding on to Wednesday’s gains, with Gold futures reaching $3,450 and Silver hitting one-month highs above $39 per ounce.
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Nvidia Q2 earnings were in the spotlight afterhours, and while the company the company delivered Q2 EPS of $1.05 vs. consensus $1.01 on revenue of $46.74B vs. consensus $46.13B, shares are trading softer as markets had likely assigned a higher bar. Semiconductors are also modestly softer, with AMD and Broadcom down over 1%.
Earlier on Wednesday, the Energy sector outperformed on the S&P 500. Refiners Marathon (MPC) and Valero (VLO) were especially strong, notching gains of over 2.5%. Likewise, investors also scooped up some of the beaten down Software names – Salesforce (CRM) was up 2.6%, ServiceNow (NOW) was up 2.7%, while DataDog (DDOG) led the entire index with a 4.3% advance.
Check out this evening’s top movers from around Wall Street, compiled by The Fly.
HIGHER AFTER EARNINGS –
- Pure Storage (PSTG) up 15.8%
- Snowflake (SNOW) up 12.8%
- BILL Holdings (BILL) up 3.5%
- Five Below (FIVE) up 1.5%
- Agilent Technologies (A) up 1.3%
ALSO HIGHER –
DOWN AFTER EARNINGS –
- Domo (DOMO) down 12.9%
- The Cooper Companies (COO) down 11.2%
- NetApp (NTAP) down 6.4%
- Urban Outfitters (URBN) down 5.4%
- Veeva Systems (VEEV) down 4.4%
- Crowdstrike (CRWD) down 3.2%
- Nvidia (NVDA) down 3.1%; Broadcom Inc. (AVGO) down 1.3%, Advanced Micro Devices (AMD) down 1.5%, Micron Technology (MU) down 1.0%, TSMC (TSM) down 1.7%, NXP Semiconductors N.V. (NXPI) down 1.2% in sympathy
- HP Inc. (HPQ) down 1.9%
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Read More on PSTG:
- Pure Storage jumps 12% to $70 after Q2 results beat, FY26 revenue view raised
- Pure Storage raises FY26 adjusted operating income view to $605M-$625M
- Pure Storage reports Q2 adjusted EPS 43c, consensus 39c
- Pure Storage sees Q3 revenue $950M-$960M, consensus $913.46M
- Pure Storage raises FY26 revenue view to $3.6B-$3.63B from $3.51B