Markets
Nia Warfield, Luke Kawa

US stocks power higher on Apple’s US investment plans, solid corporate earnings

Tuesday’s drop was just another opportunity to buy the dip.

The S&P 500 rose 0.7% and the Nasdaq 100 outperformed with a 1.3% advance, while the Russell 2000 once again bucked the trend, dropping 0.2%.

The day got off to a strong start when the White House touted an additional $100 billion in domestic investment from Apple ahead of the market open, which fueled the iPhone maker’s 5% rise on Wednesday.

The S&P sector ETFs for consumer discretionary, consumer staples, and tech all rose at least 1%. On the other side of the spectrum, materials and healthcare were down more than 1%.

Gains were led by Arista Networks, which rose 17% after delivering stellar earnings after the close on Tuesday and enjoyed a host of price target hikes across Wall Street thereafter. Declines were led in part by AMD, which fell 6% after the chip company delivered a modest bottom-line miss and a big beat on sales for the second quarter.

Elsewhere…

Shopify soared 22% after the e-commerce giant missed Q2 revenue estimates but said it expects revenue to grow at a mid- to high 20s percentage rate.

Match Group rose double digits after the Tinder and Hinge parent topped analysts’ revenue estimates after the bell Tuesday and told Wall Street to expect more of the same in Q3.

McDonald’s rose nearly 3% after the Big Mac maker posted a US sales rebound in the second quarter — a comeback after a rough start to the year.

IonQ finished virtually flat ahead of earnings tech juggernaut Amazon reporting that it held 854,207 shares of the quantum computing stock at the end of Q2.

Power producer and energy trader NRG dove double digits after adjusted earnings fell short of Wall Street expectations and GAAP results swung to a surprise loss.

Disney shares fell 2.7% even as the media giant beat Q3 estimates, raised its full-year outlook, and reportedly struck a $1.6 billion streaming deal between ESPN and WWE. Shares of TKO, which owns WWE, dropped 5%.

Astera Labs surged nearly 30% after the chips, boards, and integrated circuit maker delivered strong top- and bottom-line Q2 results after the bell Tuesday.

Uber closed flat even after the ride-hailing giant posted upbeat second-quarter results and unveiled a beefy new stock buyback plan.

Shares of Super Micro Computer tumbled 18% after disappointing fourth-quarter results, which saw the server company whiff on sales and earnings.

Rivian shares dipped 4% after the EV maker topped revenue estimates for the second quarter but losses came in higher than expected. Meanwhile, Lucid shares fell 10% after the luxury EV maker also saw Q2 losses pile up.

Snap’s stock plunged 17% after the social media company narrowly missed earnings expectations and ad revenue slowed.

Oscar Health managed to rise almost 4% despite the health insurance company reporting earnings that missed estimates, even after giving investors a look under the hood last month.

Novo Nordisk slipped nearly 4% after it reported growing sales of its blockbuster GLP-1 drugs but reiterated that knockoffs were eating at its weight-loss business.

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Luke Kawa
7/13/26
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J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets
Paige Oamek

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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