Closing Bell Movers: Sanmina jumps over 10% on earnings beat

Equity futures have reopened slightly higher, with S&P e-minis and Nasdaq 100 contracts both trading up a decimal, following headlines that Iranian negotiators have submitted another proposal to regional mediators, offering a halt on attacking ships in the Strait of Hormuz in exchange for a full end to the war.  Energy markets are not budging in preserving a geopolitical premium to start the week however, with WTI Crude Oil still trading north of $95 per barrel.  In precious metals, Gold and Silver prices continue to trade sideways above $4,700 and $75 per ounce respectively.  

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With earnings season ramping up this week, investors remain focused on the broadbased rally in the Tech space of late.  Semiconductors in particular have outperformed, with the VanEck  Semiconductor ETF (SMH) now up a whopping 40% from its late-March lows.  Nvidia (NVDA) set new record highs today above $215  per share, while Alphabet’s (GOOGL) record high above $350 propelled Communication Services to the top of S&P 500 sectors for the day.  Consumer Defensive sector – one of the worst performers over recent weeks and months – remained under pressure, with outsized losses seen among the “dollar-store” names Dollar Tree (DLTR) and Dollar General (DG).

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

HIGHER AFTER EARNINGS –

• Bed Bath & Beyond (BBBY) up 27.2%
• Kforce (KFRC) up 21.1%
• Sanmina (SANM) up 13.8%
• LendingClub (LC) up 13.8%
• Solaris Energy Infrastructure (SEI) up 13.0%
• Crane (CR) up 6.6%
• Nucor (NUE) up 3.8%
• Cadence (CDNS) up 1.0%

DOWN AFTER EARNINGS –

• Rambus (RMBS) down 11.2%
• Celestica (CLS) down 8.5%
• Ranger Energy Services (RNGR) down 6.0%
• Amkor Technology (AMKR) down 3.1%

ALSO LOWER –

• Erasca (ERAS) down 37.1% after disclosing preliminary dose escalation data for ERAS-0015
• Qiagen N.V. (QGEN) down 5.5% after Q1 pre-announcement