Markets
Nia Warfield
8/7/25

Stocks end mixed as investors digest weak 30-year bond auction and new tariffs

Stocks were mixed Thursday, under some pressure after a weak 30-year Treasury auction and fresh trade noise as President Trump announced plans for new chip tariffs, which included exemptions for companies building in the US.

The S&P 500 slipped 0.08%, but closed well off session lows. Meanwhile, the Nasdaq 100 reversed off lows of the day to finish 0.32% up. The Russell 2000 fell 0.30%.

Utilities and consumer staples led S&P 500 sector ETFs, while financials and healthcare lagged — dragged down by names like Eli Lilly, which reported disappointing trial results for its next-gen weight-loss pill despite crushing earnings expectations.

Gains on the day were led by AppLovin, which jumped 12% after the ad tech firm initially failed to impress traders with earnings after the bell yesterday. Declines were led in part by Airbnb, which fell 8% after the home-share giant topped Q2 estimates on Wednesday but warned of a slower back half of the year. 

Elsewhere…

Joby Aviation shares fell another 9% after the air taxi company reported a worse-than-expected loss for the second quarter on Wednesday.

Duolingo shares rallied 13% after the language-learning company soundly beat Q2 estimates and raised both its full-year and third-quarter sales guidance.

Sunrun skyrocketed 32% after the energy storage and solar panel provider reported a surprise second-quarter profit and record customer demand for its energy storage systems.

Celsius shares popped 17% after the energy drink maker reported Q2 revenue of $739 million, blowing past analysts’ expectations of $652 million as its market share picks up.

Peloton jumped as much as 22% premarket before closing flat after the connected fitness company topped Q4 estimates and announced a cost restructuring plan to save at least $100 million in run-rate savings.

Apple shares jumped 3% after President Trump said “companies like Apple,” including other firms that build in the US, will avoid 100% chip tariffs.

NRG shares rose 3% after the power producer and energy trader’s adjusted earnings fell short of Wall Street estimates, while GAAP results swung to a surprise loss.

Hertz soared 7.7% after the car rental company reported a better-than-expected adjusted loss for the second quarter and its first positive adjusted corporate EBITDA in seven quarters.

Sony shares traded 4.5% higher after the company raised its full-year operating profit forecast, thanks to a smaller-than-expected tariff hit and strong performance in its gaming division.

DoorDash shares rose 5% after the food delivery giant topped Q2 estimates and posted its fourth consecutive profitable quarter.

Crocs shares sank 29% after the funky foam clog maker beat second-quarter estimates but offered a murky outlook as demand cools in North America, its key market.

Bumble shares fell 15% after the dating company reported a surprise loss in the second quarter after the bell Wednesday and has struggled to spark sales growth in recent years.

D-Wave Quantum dropped 2.3% after the Palo Alto-based quantum computing firm reported mixed second-quarter results, driven by a $142 million rise in the fair value of its warrant liabilities.

Intel fell 3% after President Trump posted on his social media platform, Truth Social, that CEO Lip-Bu Tan “is highly CONFLICTED and must resign, immediately.”

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Luke Kawa
2h
Wall Street analysts love Micron’s earnings. The market already loved them too much ahead of time.

A “sell the news” event.

People interact at the Micron booth at the 3rd China...
markets
J. Edward Moreno

Canopy rallies after CEO stock purchase

Canopy Growth rallied on Wednesday after its CEO, Luc Mongeau, disclosed an unplanned stock purchase on Tuesday.

Mongeau, who joined Canopy from Mars in January, bought 27,469 shares at CA$1.84. The buy is worth about US$36,259.

It has been a tumultuous time for cannabis stocks, as the market in Canada (where Canopy is located) stagnates and cannabis reform in the US has yet to move forward.

markets
Matt Phillips

Robinhood, new S&P 500 leader, the subject of favorable analyst chatter

Robinhood Markets briefly touched a new all-time intraday high in early trading after the newly minted — and now top-performing — member of the the S&P 500 received some favorable write-ups from Wall Street analysts.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own stock as part of my compensation.)

Piper Sandler analysts highlighted momentum in the company’s prediction markets business thanks to the rollout of contracts on college and profession football, noting that the event contracts business was running at a $200 million annualized rate so far in September. They raised their price target on the shares to $140 from $120.

“Prediction Markets (aka event contracts) present significant upside opportunity for Robinhood,” Piper Sandler’s Patrick Moley wrote.

Elsewhere, Citi analysts raised their Q3 and full-year 2025 estimates and upped their price target on the shares to $135, but kept a “neutral” rating on the stock.

“While HOOD continues to see solid momentum across the platform, we believe the stock is pricing in much of the growth potential in our view. Given current valuations and where we are in the retail cycle (closer to the highs than the lows from an activity perspective from our viewpoint), we prefer to wait for a more reasonable entry point at present.”

The stock has clearly had a heck of a run.

Through yesterday’s close, Robinhood was up nearly 240% in 2025. Since it was added to the S&P 500 on Monday, it’s now the top performer among the blue chips, trouncing previous leaders Seagate Technology Holdings and Palantir.

markets
J. Edward Moreno

UniQure surges after encouraging trial results for Huntington’s treatment

UniQure rose more than 150% in early trading Wednesday after it released trial results that showed its experimental gene therapy for Huntington’s disease slowed its progression by 75% after three years.

The treatment, AMT-130, is a one-time treatment for Huntington’s, a genetic brain disease that degrades cognitive function and muscle control. There is currently no cure for the disease.

UniQure said it plans to submit the treatment for approval to the Food and Drug Administration in the first quarter of 2026, meaning it could become available to patients later that year. The company currently makes nearly all of its revenue from gene therapies that treat hemophilia.

Halo of the sun

A tiny UK company is showing how easy it is to get an (undeserved?) Nvidia halo effect

Step 1: join a free Nvidia program. Step 2: watch stock go up. Step 3: watch stock go down.

Luke Kawa5h

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