Closing Bell Movers: Roblox up 4% on buyback, Keysight gains on earnings

Major indices fell for the third straight day, with the absence of any signs toward a resolution in the Strait of Hormuz standoff sustaining inflationary fears.   Energy was among the best performing sectors in the S&P 500 on Tuesday as WTI Crude Oil topped $104 per barrel.  Investors also rotated into the defensive areas of the market with Health Care, Consumer Staples and Utilities outperforming at the expense of Basic Materials and large-cap tech.  Global bond market rout also continued to impact sentiment, with Treasury yields rising at the medium and long end of the curve – of note, the 10-year to 3-month Treasury yield spread topped 100 basis points for the first time since 2022. 

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In the opening hour of the evening session S&P 500 mini and NQ100 contracts are both down marginally.  In commodities, metals are being pressured by more pronounced strengthening in U.S. dollar – gold is below $4,500 and silver has fallen below $75 per ounce.   While the earnings season has largely concluded, results out of Nvidia (NVDA) tomorrow evening will dominate market debate on the health of the AI capex boom against the backdrop of higher funding costs over the next 24 hours.  The stock has fallen about 7% from last week’s all-time high, though shares are still up nearly 20% year-to-date. 

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

HIGHER AFTER EARNINGS –

• Red Robin Gourmet Burgers (RRGB) up 17.7%
• 8×8, Inc. (EGHT) up 14.1%
• Cava Group (CAVA) up 6.3%
• Keysight Technologies (KEYS) up 3.8%
• Toll Brothers (TOL) up 2.3%

ALSO HIGHER –

• Roblox (RBLX) up 3.9% on $3B buyback announcement
• Leonardo DRS (DRS) up 3.2% after insider buy

DOWN AFTER EARNINGS –

• James Hardie Industries (JHX) down 4.4%

ALSO LOWER –

• Annovis Bio (ANVS) down 18.1% after equity offering
• Viavi Solutions (VIAV) down 6.3% after equity offering