Closing Bell Movers: Okta slips 12% despite earnings beat

In the opening hour of the evening session, U.S. equity futures are little changed, with S&P 500 at 5,937, Nasdaq 100 at 21,462, and Dow Industrials up a marginal 0.1% at 42,442.  In energy, WTI Crude is up slightly above $61 per barrel while Gold is off Tuesday’s lows at $3,300.

Stocks staged a broad based rally upon returning from Memorial Day holiday, erasing nearly all of last week’s correction, as President Trump again backed away from threatening Europe with a trade war starting next month.  Treasury yields also retreated as inflation fears abated, while investors further cheered a much better Consumer Confidence readout from the Conference Board, boosting shares of Cyclicals.  Airlines and Cruise stocks were especially strong performers within the S&P.

In this evening’s earnings, cybersecurity name Okta traded down by over 10% despite a beat on Q1 earnings and a lift in guidance as the management signaled “potential risks related to the uncertain economic environment for the remainder of FY26.”  Tomorrow, afterhours results out of Nvidia mark the book-end to the Mag-7 earnings season, while Software investors will also watch the quarterly update from Salesforce.

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

HIGHER AFTER EARNINGS –

• Vail Resorts (MTN) up 10.4%
• Box (BOX) up 10.4%

ALSO HIGHER –

• Brooge Energy (BROG) up 83.4% after $884M asset sale to Gulf Navigation Holding 
• Joby (JOBY) up 3.9% as Toyota closes $250M investment

DOWN AFTER EARNINGS –

• Okta (OKTA) down 12.1%
• Semtech Corporation (SMTC) down 2.1%

ALSO LOWER –

• Galaxy Digital (GLXY) down 11.0% after equity offering
• Compass Diversified (CODI) down 9.6% after entering forbearance agreement amid investigation of financial irregularities at Lugano 
• GDS Holdings (GDS) down 7.0% after equity offering