The Dow and the S&P 500 ended Friday's session in the green, while the Nasdaq Composite finished lower. Oil prices continued to retreat on reports that Pakistan, with support from China, was seeking to revive negotiations between the U.S. and Iran.
Intel fell 7.9% to $92.32. The chip manufacturer's second-quarter earnings and revenue beat analysts' expectations as the artificial-intelligence boom drives up demand for semiconductors.
Memory-chip maker Micron fell 7% and memory-card maker Sandisk declined 11%. SK Hynix also dropped 8.8%. Micron and SK Hynix have both suffered in the last month amid worries including the sustainability of chip prices. Shares have rebounded somewhat this week.
MaxLinear sank 22%. The optical networking company on Thursday reported second-quarter earnings that were better-than-expected -- and third-quarter guidance that was well above Wall Street's expectations. However, shares sold off after a 166% advance since the company reported first-quarter earnings in April.
SpaceX fell 2.7% to $115.07 after another Starship testing delay and a new Hold rating from HSBC. The firm has a $115 price target on shares of Elon Musk's AI and space company. SpaceX will attempt the Starship launch again Friday evening.
Oracle dropped 4.2% after the cloud computing and software company agreed a 10-year, nearly $7 billion contract with the U.S. Defense Department.
SAP gained 9.4% after the German company beat Wall Street's second-quarter earnings target, helping to ease some fears about how AI is disrupting software.
Tesla declined 2.1% after ending Thursday down about 15% following weaker-than-expected second-quarter earnings. Cathie Wood's ARK Invest bought about 160,000 shares of the EV maker in four of its funds on Thursday.
American Express dropped 4.3% after posting better-than-expected second-quarter profit. The company also now expects full-year revenue growth of 10%, from the previous 9% to 10% view, and maintained its 2026 profit guidance at $17.30 to $17.90 a share. That guidance seemed to be a little light for investors, given the strong quarter.
Digital Realty Trust surged 11%, leading the S&P 500, after the data center real estate investment trust's second-quarter earnings beat expectations and it raised its full-year outlook as robust data center demand shows no sign of abating.
Verizon Communications rose 5.8%. The wireless carrier reported better-than-expected earnings and raised its guidance. However, the stock movement may signal that investors aren't quite buying CEO Dan Schulman's business turnaround plan.
Charter Communications declined 2.5%. Charter, which operates Spectrum Internet, posted better-than-expected second-quarter earnings. However, total revenue declined 1.7% and the company reported that Spectrum internet customers decreased sequentially.
Tenet Healthcare soared 17%. The hospital operator late Thursday handily surpassed expectations with its second-quarter earnings and pegged its full-year profit guidance at $20.30 to $21.69 a share, up from $16.38 to $18.68.
SLB advanced 11% after the oilfield services company surpassed Wall Street's expectations with its second-quarter earnings as offshore drilling activity offset ongoing weakness in the Middle East. The company also reported strong revenue growth in its data center services business.
Write to George Glover at george.glover@dowjones.com and Kit Norton at kit.norton@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
July 24, 2026 16:25 ET (20:25 GMT)
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