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Nasdaq Composite Rebounds, Micron Up 2.5%
Major indices rebounded from Monday's sell-off, led by tech-heavy Nasdaq Composite, as AI CapEx-themed trade showed some clear resurgence. Semiconductors, Computer Hardware, Communication Equipment, and Memory stocks traded notably firmer. Micronbounced 2.5%, Seagateand Western Digitalwere up over 3%, while Nvidia- heading into tomorrow's earnings - was up 2.2% on the day. Meanwhile, investors rotated out of Energy names - the worst performing sector in the S&P 500 today - as WTI Crude Oil pulled back by over $6 to $81 a barrel as the White House moves to exert greater economic pressure on Tehran to resolve the standoff over the Strait of Hormuz. In the opening hour of the evening session, index futures are flat heading into Wednesday's PCE inflation report as well as a tech earnings-rich afterhours session.In fixed income, although commentary regarding the efficacy of the "Bessent put" announced last Wednesday remains mixed, Treasuries are notably higher this week. On Tuesday, the yield on the 10-year note fell another 7 basis points to 4.64%. The perceived "dollar debasement" from the U.S. Treasury action is also keeping the greenback under pressure while supporting precious metals - gold briefly broke above $4,750 overnight, though silver remains capped below $70 per ounce.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Semtechup 3.4%HEICO Corporationup 2.4%DOWN AFTER EARNINGS -Qfin Holdingsdown 12.8%Intuitdown 9.3%nCinodown 5.6%Zoom Communicationsdown 4.0%Electromeddown 2.0%Boxdown 0.6%ALSO LOWER -Spyre Therapeuticsdown 10.1% after results from RA sub-study of SKYWAY basket trial
Box Reports Q2 Revenue of $321.1M, Exceeding Expectations
Reports Q2 revenue $321.1M, consensus $319.09M. "Box delivered exceptional second quarter results, continuing our strong momentum accelerated by the rapid adoption of Enterprise Advanced," said Aaron Levie, co-founder and CEO of Box. "As enterprises deploy AI agents that require secure, well-governed unstructured data for critical context, Box is uniquely positioned as the model-neutral platform of choice. Instead of fragmenting workflows across multiple systems, our customers get a singular platform with enterprise-grade security and control where they can seamlessly connect their content to the world's leading AI models with Box and third-party agents. We are incredibly excited about our product momentum and the massive opportunity ahead."
Raises FY27 Revenue View to Approximately $1.29B
Raises FY27 revenue view to roughly $1.29B from $1.28B, consensus $1.28B.
Sees Q3 Revenue Roughly $329M
Sees Q3 revenue roughly $329M, consensus $324.47M.
Market Optimism Drives Crude Oil Prices Lower
Markets reopened following the holiday weekend with renewed optimism that negotiators in the U.S.-Iran war are making progress, sending Crude Oil prices and Treasury yields lower and broader indices higher. Basic Materials and Industrials were the best performing sectors in the S&P 500, while Energy was the worst as WTI Crude Oil fell over 3% below $94 per barrel. Demand for AI-capex-linked Tech names also remained strong as the bid in memory stocks remained unrelenting - Micronjoined the trillion-dollar-market-cap club with a 20% jump, followed by On Semi, Teradyne, and Western Digital, whose shares were up 8%-9%.In the opening hour of the evening session, index futures are little changed. S&P 500 is just shy of 7,540, Nasaq 100 is above 30,000 and Dow Industrials - the lone index to finish Tuesday in the red due to declines in all of its Healthcare components - is just above 50,550.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Semtechup 7.0%Oomaup 2.4%Modine Manufacturingup 1.7%DOWN AFTER EARNINGS -Zscalerdown 19.4%Transcatdown 3.0%Box, Inc.down 1.7%ALSO LOWER -Verra Mobilitydown 42.7% after termination of agreement notice from Avis BudgetSOLV Energydown 7.8% after equity offeringGlobalFoundriesdown 6.6% after block saleInsuletdown 6.2% after initiating voluntary medical device correction for certain Omnipod lotsFirefly Aerospacedown 5.3% after equity offeringForgent Power Solutionsdown 4.7% after equity offering
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.