Dow Futures rose 0.36%, S&P 500 Futures rose 0.46%, Nasdaq Futures rose 0.84%, reflecting a broadly risk-on tone.
Fortinet shares jumped 10.68%. The cybersecurity firm lifted its annual revenue forecast after reporting strong second-quarter results, signaling strong enterprise spending on its services amid rising data security incidents.
Microsoft rose 8.46%. The company beat fiscal Q4 estimates, with revenue $90.01B and Azure growth 43%, and trimmed 2026 capex to $175B on lease and asset-life changes while flagging accelerating Azure growth and positive free cash flow.
Lam Research rallied 7.19%. The chip-equipment maker topped Q4 expectations and guided Q1 revenue to $7.70–$8.50B and EPS $2.00–$2.30, citing AI-driven tool demand.
Chipotle Mexican Grill rose 5.1%. The burrito chain raised its annual sales forecast but said the third quarter is likely to be its toughest of the year after a multistate cyclosporiasis outbreak dented consumer confidence in eating out in late July.
Starbucks has raised its annual sales and profit forecasts for the second time, as CEO Brian Niccol's years-long turnaround efforts reignite demand at the world's largest coffee chain, sending its shares up 4.76%.
Applied Materials (AMAT) rose 2.65%. Shares rebounded with chip-equipment peers after days of selling, alongside fresh target hikes from HSBC, Citi and UBS.
Meta Platforms, Inc. (META) fell 7.04%. Q2 EPS missed and free cash flow dropped to $784M due to surging AI capex, while the Q3 revenue guidance midpoint trailed consensus.
Shares of Carvana fell 7.15% after the company reported full-year guidance that failed to meet some of Wall Street’s expectations for the auto retailer.
Arm Holdings, signaled strong demand from AI on Wednesday, yet shares slid 4.76% even though the intellectual property and chip designer forecast second-quarter revenue above Wall Street estimates.
ARM Holdings fell 5.18%. Fiscal Q1 beat on revenue and EPS, but smartphone royalty softness and a conservative Q2 revenue outlook prompted selling.
Qualcomm declined 3.65%. Fiscal Q3 EPS narrowly missed and Q4 profit guidance lagged, with management warning of faster Apple-related revenue declines and margin pressure despite planned price hikes.
Teladoc Health reported second quarter results that missed revenue expectations and issued guidance significantly below analyst estimates, sending shares down 19.39%.
Chip stocks rose, with Direxion Daily Semiconductors Bull 3x Shares (SOXL) rising 2.33%, KLA-Tencor rising 1.47%, SUPER MICRO COMPUTER INC (SMCI) rising 1.32%, Broadcom rising 1.12%.
Among other individual movers, TeraWulf Inc. climbed 3.18%, IREN Ltd advanced 2.97%, CoreWeave, Inc. gained 2.38%, Teradyne rose 2.12%, Amazon.com added 1.59%, Destiny Tech100 Inc (DXYZ) dropped 2.56%, Roundhill Memory ETF (DRAM) slipped 1.11%.
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