Closing Bell Movers: Trip.com slips 3% after results despite topping estimates

In the opening 30 minutes of the evening session, U.S. equity futures are mixed, with S&P 500 down 0.1% below 5,980, Nasdaq 100 down 0.1% at 21,501, and Dow Industrials flat at 42,890.  In commodities, WTI crude oil is flat just above $62 per barrel and Gold is down slightly below the $3,230 per ounce level.

Moody’s downgrade of U.S. sovereign debt rating on Friday carried over into a weaker open on Monday both in equities and fixed income markets, with S&P 500 looking like it would break a string of five consecutive winning sessions and yields pushing higher, though investors bought the dip in both asset classes, sending S&P to its sixth positive close and yields on the 10-year Note back below 4.50%.  It was the defensive sectors that helped the index rebound however, with Health Care and Consumer Staples outperforming while Energy, Consumer Discretionary, and Tech finished the day in the red.  United Health led the rally, with sentiment supported by insider buying activity following a month of heavy selling activity that has seen the health benefit plan provider lose over half of its value.

The evening earnings docket was light, with Transcat gaining and Trip.com declining as the highlight of the session.  Pegasystems was also notably higher, with the stock being included in the S&P MidCap 400 index to replace Nordstrom.

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

HIGHER AFTER EARNINGS –

• Transcat (TRNS) up 5.3%
• Alpha Tau Medical (DRTS) up 4.8%
• 8×8, Inc. (EGHT) up 4.4%
• Agilysys (AGYS) up 1.3%

ALSO HIGHER –

• Pegasystems (PEGA) up 7.2% after entering S&P MidCap 400
• Syndax Pharmaceuticals (SNDX) up 3.9% after insider buy

DOWN AFTER EARNINGS –

• Yalla Group Limited (YALA) down 9.5%
• Trip.com (TCOM) down 3.1%

ALSO LOWER –

• StandardAero (SARO) down 3.8% after equity offering
• Ryman Hospitality Properties (RHP) down 2.6% after equity offering