24H | Reddit Surges 12%; Drone‑Related UMAC Gains Over 7%, AMAT Slides Nearly 5% Post‑Earnings

US Overnight08:08

Dow Futures rose 0.03%, S&P 500 Futures rose 0.05%, Nasdaq Futures rose 0.07% as sentiment leaned cautiously optimistic.

Reddit climbed nearly 12%. The rally followed confirmation it will join the S&P 500 on August 18.

Unusual Machines Inc rose more than 7%. The Trump administration is applying a 100% tariff on imports of certain unmanned aircraft systems and their components, Bloomberg reported Thursday.

SanDisk Corp. advanced 1.62%. Shares gained after its investor day outlined stronger long-term targets, with bullish commentary from Goldman Sachs.

Micron Technology (MU) gained 1.54%. Options flow showed heavy long-dated out-of-the-money put buying by institutions.

Marvell Technology (MRVL) rose 1.27%. Traders cited aggressive long-dated call buying targeting $250 by 2026.

Applied Materials (AMAT) fell 4.78%. The move followed stronger-than-expected Q3 results and guidance, including roughly 25% revenue growth, with a sell-the-news reaction weighing on shares.

Chip stocks rose, with ARM Holdings rising 1.18%.

Memory chip stocks rose, with Western Digital rising 1.19%.

Among other individual movers, Intel rose 1%, Amcor plc fell 1%.

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