Stocks close higher after another solid week of earnings |
Stocks rebounded on Friday, with all three major indexes closing the week in the green after a slew of second-quarter earnings results. The S&P 500 rose 0.78%, the Nasdaq 100 jumped 0.95% to close at a new record, and the Russell 2000 climbed 0.17%. Nearly every major S&P sector ETF traded higher, led by tech, healthcare, and financials. Real estate, utilities, and industrials were the day’s only laggards.
Gains were led by Gilead Sciences, which jumped 8% after the company reported earnings and revenue results that exceeded Wall Street expectations. Meanwhile, declines were led by The Trade Desk, which fell 39%.
DoorDash dropped 4% after investors took profits from the company’s recent earnings-related rally.
Elsewhere… |
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Shares of Block fell 4.5% after the fintech business and Cash App parent company’s revenue fell short of Wall Street’s expectations.
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Instacart shares jumped 3.7% after the company posted better-than-expected results for the second quarter and gave a rosy outlook for third-quarter profitability.
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Rocket Lab shares jumped as much as 7% before paring gains after the retail favorite reported Q2 numbers and lifted its Q3 revenue guidance after the bell Thursday.
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Expedia shares jumped 4% after the travel company topped second-quarter estimates and raised its full-year forecast as bookings pick up abroad.
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Tesla shares were up 2.3% after CEO Elon Musk ordered the company to disband its Dojo supercomputer team, which had been designing and using its D1 chips to train its self‑driving and AI models.
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Palantir shares climbed 2.6%, closing at a new record high after its Monday earnings report seemed to meet the Street's sky-high expectations for the second quarter.
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Similarly, Robinhood Markets rose 3%, etching a new all-time high closing price as bullish earnings season vibes continued to push prices for a range of tradable assets higher. (Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions).
- Sweetgreen shares fell 23% after the cult favorite salad chain missed Q2 estimates and cut its full-year revenue forecast for the second quarter in a row.
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Under Armour shares fell 18% after the athletic apparel giant reported results for its fiscal first quarter of 2026 that were in line with expectations, but issued a gloomy outlook for Q2.
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Grindr shares fell 12% after the dating app reported earnings and revenue results after the bell Thursday that missed Wall Street expectations. The stock is still up 60% over the past year.
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Pinterest shares sank another 10% after the social media company beat on revenue but fell short on adjusted earnings per share.
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Flutter Entertainment, the parent of top US sports betting company FanDuel, slumped 8% despite reporting better-than-expected Q2 numbers and bumping its full-year guidance.
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— Nia Warfield, Markets Writer |
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Most social media platforms squeeze a few bucks a month out of users — Meta’s ability to monetize your scrolling is on a completely different level. Read more. |
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OpenAI spent a lot of time talking about how “smart” GPT-5 is, yet it failed spectacularly at tasks that a second grader could achieve. Read more. |
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SoundHound AI soars after posting a couple of sick beats
Midcap retail plaything SoundHound AI is howling — in a good way — after posting Q2 sales that were much better than expected, though profits were merely less bad than expected. The company also bumped its full-year revenue guidance a bit higher.
Read more. |
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Nvidia is dominating the S&P 500 more than any company in at least 44 years
Its weight in the benchmark US stock index has reached unparalleled heights, based on data from Apollo Global Management going back to 1981.
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Ives: How Apple can avoid a “Blackberry Moment” in AI
“Apple is on a park bench drinking lemonade watching this technology innovation change the world,” the Wedbush analyst wrote.
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Big Tech’s big AI love affair — in quotes
AI is the apple of tech’s eye. - Anchovies are Americans’ least favorite food
Even a recession-indicating tinned fish revival hasn’t convinced a majority of Americans to get on board with anchovies and sardines. - The SEC and Ripple jointly dismiss their appeals, ending long legal battle
The conclusion sweeps away regulatory uncertainty that has been plaguing the token’s outlook since 2020, and the price of XRP is now soaring.
- The viewbots have come for Twitch
We’ve seen examples of 5,000% spikes in viewership, many times for no apparent reason.
- Ethereum rises above $4,000
Meanwhile, a new entrant to the ethereum treasury firm, Fundamental Global Inc., is offering $5 billion of securities with a goal “to acquire and grow our overall ETH position.” - Crocs sales are set to drop again; it wouldn’t be the first time
The shoemaker shed about $1.7 billion in market cap yesterday, as the stock cratered 29%.
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
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