Closing Bell Movers: Workday jumps 11%, Zoom up 6% after earnings

Major indices were higher for the second straight day as investors shrugged off the mixed earnings report from Nvidia (NVDA), disallowing the market’s biggest stock from souring sentiment.  Utilities, Basic Materials, and Technology were the best performing sectors on the S&P 500, with the rally in the latter dominated once again by memory names.   Major 2026 winners such as SanDisk (SNDK), Western Digital (WDC), and Micron (MU) saw outsized gains, though it was IBM (IBM) that stole the spotlight with a double-digit spike after the company announced the Letter of Intent signed jointly with the Department of Commerce to build an American quantum chip foundry.   IBM share gains also helped Dow Industrials rejoin S&P 500 and Nasdaq Composite with record high closing levels as the index topped 50,200 for the first time since February.  On the downside, Consumer Staples was the worst performing sector in the benchmark as inline earnings and disappointing guidance slammed Walmart (WMT) by over 7%.

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In the opening hour of the evening session, S&P E-minis are up 0.2% and the Nasdaq 100 contract is up 0.3%, while WTI Crude Oil remains below $98, amid renewed hopes that U.S.-Iran negotiations will yield an outcome acceptable to both sides.  Volumes will likely be compressed on Friday as investors head into an extended Memorial Day holiday weekend. 

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

HIGHER AFTER EARNINGS –

• Workday (WDAY) up 11.2%
• Zoom Communications (ZM) up 7.7%
• Take-Two (TTWO) up 6.4%
• Lionsgate Studios Corp. (LION) up 5.6%
• Ross Stores (ROST) up 5.4%
• Flowers Foods (FLO) up 1.8%
• Webull Corporation (BULL) up 1.5%

ALSO HIGHER –

• Peloton Interactive (PTON) up 6.4% after S&P SmallCap 600 index inclusion
• Universal Technical Institute (UTI) up 5.2% after S&P SmallCap 600 index inclusion

DOWN AFTER EARNINGS –

• Deckers Outdoor (DECK) down 1.6%

ALSO LOWER –

• Summit Therapeutics (SMMT) down 8.5% after being started at Bernstein at Underperform