Moderna, Inc. plummeted more than 25% intraday, after surging 177% yesterday on positive news surrounding its cancer‑vaccine data.
Crypto-linked equities rallied as Bitcoin and ether prices climbed, fueled by President Donald Trump's call for Congress to pass favorable cryptocurrency regulations. MARA Holdings rose nearly 10%, Circle Internet gained 7.5%, Coinbase Global, Inc., Strategy advanced nearly 7%.
Shares of Wal-Mart fell over 9%. Although the retail behemoth surpassed revenue expectations for its second quarter, its U.S. comparable sales growth of 2.6% lagged the 3.5% forecast by analysts polled by FactSet. Furthermore, the company's guidance for both the fiscal third quarter and full year earnings per share came in below consensus estimates.
Alibaba trimmed its losses and neared a turn to gains. Alibaba reported a 75% plunge in profits for the June quarter, attributed to a significant increase in artificial intelligence spending. The company's capital expenditures grew by 75% during the quarter.
Nordson saw its shares rise 6% after the manufacturer of equipment for applying coatings and adhesives raised its full-year outlook. The company now projects adjusted earnings of $11.80 to $12.00 per share, up from its previous estimate of $11.30 to $11.80, and surpassing the FactSet consensus of $11.60.
Advance Auto Parts tumbled 25% following mixed second-quarter results. The automotive parts provider reported revenue of $1 billion, falling short of the $2.04 billion expected by analysts polled by LSEG. It also posted a 0.5% decline in comparable sales versus the anticipated 1.4% gain, though earnings per share exceeded expectations.
Wolfspeed Inc. experienced a 16% drop after its quarterly revenue of $149.6 million missed the FactSet consensus estimate of $150 million.
Comments