Closing Bell Movers: Upwork down over 20% on soft guidance

Following Friday’s broad-based gains, U.S. equity markets continued their rebound on Monday, with Basic Materials leading the charge but Technology – a sector responsible for much of the volatility last week – also extending its gains.  The Software Application group was still mixed, but Semiconductors and AI-related large-cap Software Infrastructure traded with greater conviction as Nvidia (NVDA) rose 2.5%, Microsoft (MSFT) rallied 3%, and Oracle (ORCL) – down 60% from September high as recently as last week – spiked 10%.  In the opening hour of the evening session, futures are in consolidation mode – S&P e-minis and Nasdaq 100 are both trading flat.

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Strength in commodities continues to drive in bid in Basic Materials and Energy – the top two sectors year-to-date.  In the evening session, WTI Crude Oil remains above $64 per barrel, with Gold and Silver at $5,060 and just shy of $82 per ounce respectively.

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

HIGHER AFTER EARNINGS –

• Ichor (ICHR) up 19.7&
• Credo Technology (CRDO) up 14.6%
• AECOM (ACM) up 3.2%
• Amkor Technology (AMKR) up 2.5%

ALSO HIGHER –

• RingCentral (RNG) up 5.3% after entering S&P SmallCap 600

DOWN AFTER EARNINGS –

• Upwork (UPWK) down 24.2%
• Goodyear Tire & Rubber (GT) down 11.0%
• Amentum Holdings (AMTM) down 10.8%
• ZoomInfo (GTM) down 6.0%
• Principal Financial Group (PFG) down 5.5%
• ON Semi (ON) down 5.0%
• Medpace Holdings (MEDP) down 4.8%
• Manitowoc Company (MTW) down 2.2%

ALSO LOWER –

• REGENXBIO (RGNX) down 17.1% after FDA issues CRL for BLA for RGX-121