Closing Bell Movers: Rambus slips 9%, F5 down 6% after Q3 earnings

Relief from China trade tensions, restored plans for a meeting between Trump and Xi later this week, and solidifying expectations for continued Fed easing ahead of the FOMC meeting this Wednesday are helping U.S. markets continue to climb the wall of worry.  All major indices hit fresh record highs to start the week on Monday, and the opening hour of the evening session are seeing U.S. equity futures track higher, with Nasdaq 100, S&P 500 e-minis, and Dow Industrials up 0.1%-0.2%.   Tech and Communication Services were the best performing sectors on the S&P 500 as all Mag-7 names ended the day in the green, led by Alphabet’s (GOOGL) 4% tally to fresh record high near $270 per share.  Meanwhile, the defensive areas of the market underperformed as Consumer Staples and Materials ended the day in the red.

In commodities, WTI Crude Oil is consolidating last week’s gains but remains above $61 per barrel as traders continue to price in some geopolitical premium with saber-rattling between the White House and Kremlin.  Gold, however, remains on the back foot just over $4,000 per ounce, with the precious metal now in a 10% correction from last week’s all-time highs around $4,400.

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

HIGHER AFTER EARNINGS – 

• Celestica (CLS) up 9.2%
• Confluent (CFLT) up 8.8%
• Universal Health Services (UHS) up 7.2%
• Agilysys (AGYS) up 5.2%
• Avis Budget Group (CAR) up 5.0%
• Crane Company (CR) up 3.2%
• NXP Semiconductors N.V. (NXPI) up 2.5%
• Bed Bath & Beyond (BBBY) up 0.2%

ALSO HIGHER –

DOWN AFTER EARNINGS –

• Rambus (RMBS) down 9.6%
• F5 (FFIV) down 6.2%
• Olin Corporation (OLN) down 5.6%
• VSE Corporation (VSEC) down 2.4%
• Whirlpool Corporation (WHR) down 1.7%
• Cadence Design (CDNS) down 1.2%

ALSO LOWER –

• Galaxy Digital (GLXY) down 8.1% after offering convertible debt