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Major US Indices Close Lower, Semiconductor Stocks Plummet

All major US indices finished the day at the lows and even a less hawkish than feared FOMC decision failed to backstop the AI capex trade gone awry.  Tech and Industrials were the worst performing sectors in the S&P500 as Semiconductors, Semi Equipment, and Hardware names continued to unravel with massive drawdowns.  Micronfell another 10% while KLA Corp- which reported results overnight - was down 11%.  Among notable Industrials, Lennox Internationalfell over 20% despite a Q2 earnings beat as its management cut earnings guidance for the year.   The sparse positive column once again featured Consumer Staples, with Walmartnow having risen for 4 consecutive sessions.In the opening hour of the evening session, equity futures are modestly higher - S&P e-minis are up 0.4%, Nasdaq 100 is up 0.6%, and Dow Industrials are up 0.3%.  Investors are still digesting today's FOMC decision to keep rates intact with mostly unchanged accompanying statement while also watching diverging price action from Microsoftand Metaafter their earnings reports and updates on spending plans.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGSSilicon Motion Technologyup 10.6%Fortinetup 10.5%FormFactorup 10.4%Glaukosup 8.7%Microsoftup 8.6%Lam Researchup 6.1%Chipotle Mexican Grillup 5.9%GFL Environmentalup 5.7%Pitney Bowesup 5.2%Starbucksup 4.9%Everforthup 4.7%ALSO HIGHERFive9up 7.1% after admission into S&P SmallCap 600 indexDOWN AFTER EARNINGSFair Isaacdown 9.3%Carvanadown 7.7%Houlihan Lokeydown 6.9%Meta Platformsdown 6.5%Arm Holdingsdown 6.1%Align Technologydown 6.1%QUALCOMMdown 3.6%Robinhood Marketsdown 1.0%

Affirms FY26 Revenue View of $1.80B-$1.86B

Affirms FY26 revenue view of $1.80B-$1.86B, consensus $1.84B

Company Reports Q2 Revenue of $451M, Exceeding Expectations

Reports Q2 revenue $451M, consensus $443.5M. The company states: "As disclosed in today's earnings release, we delivered strong results in the second quarter that included meaningful growth in earnings and cash flow. Despite planned investments in future growth and certain expected headwinds in the second half of the year, our underlying strong performance gives us the confidence to reaffirm our full-year outlook for revenue and raise our full-year outlook for Adjusted EBIT, Adjusted EPS and Adjusted Free Cash Flow. Our strong results and outlook stem from continued progress toward our five strategic objectives for 2026. When we established these objectives, our intent was to set clear priorities that balance near-term financial results with long term value creation. Our tangible progress in Q2 includes stemming revenue declines in Presort, increasing SendTech's margins and investing in future profitable growth at SendTech's PB Bank division."