Markets
Nia Warfield
8/8/25

Stocks close higher after another solid week of earnings

Stocks rebounded on Friday, with all three major indexes closing the week in the green after a slew of second-quarter earnings results. The S&P 500 rose 0.78%, the Nasdaq 100 jumped 0.95% to close at a new record, and the Russell 2000 climbed 0.17%.

Nearly every major S&P sector ETF traded higher, led by tech, healthcare, and financials. Real estate, utilities, and industrials were the day’s only laggards.

Gains were led by Gilead Sciences, which jumped 8% after the company reported earnings and revenue results that exceeded Wall Street expectations. Meanwhile, declines were led by The Trade Desk, which fell 39%.

DoorDash dropped 4% after investors took profits from the company’s recent earnings-related rally. Elsewhere…

Shares of Block fell 4.5% after the the fintech business and Cash App parent company’s revenue fell short of Wall Street’s expectations.

Instacart shares jumped 3.7% after the company posted better-than-expected results for the second quarter and gave a rosy outlook for third-quarter profitability.

Rocket Lab shares jumped as much as 7% before paring gains after the retail favorite reported Q2 numbers and lifted its Q3 revenue guidance after the bell Thursday.

Expedia shares jumped 4% after the travel company topped second-quarter estimates and raised its full-year forecast as bookings pick up abroad.

Tesla shares were up 2.3% after CEO Elon Musk ordered the company to disband its Dojo supercomputer team, which had been designing and using its D1 chips to train its self‑driving and AI models.

Palantir shares climbed 2.6%, closing at a new record high after its Monday earnings report seemed to meet the Street's sky-high expectations for the second quarter.

Similarly, Robinhood Markets rose 3%, etching a new all-time high closing price as bullish earnings season vibes continued to push prices for a range of tradable assets higher.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions).

Sweetgreen shares fell 23% after the cult favorite salad chain missed Q2 estimates and cut its full-year revenue forecast for the second quarter in a row.

Under Armour shares fell 18% after the athletic apparel giant reported results for its fiscal first quarter of 2026 that were in line with expectations, but issued a gloomy outlook for Q2.

Grindr shares fell 12% after the dating app reported earnings and revenue results after the bell Thursday that missed Wall Street expectations. The stock is still up 60% over the past year.

Pinterest shares sank another 10% after the social media company beat on revenue but fell short on adjusted earnings per share.

Flutter Entertainment, the parent of top US sports betting company FanDuel, slumped 8% despite reporting better-than-expected Q2 numbers and bumping its full-year guidance.

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Nia Warfield, Luke Kawa
4h
S&P 500 closes at record as tech heavyweights flex (besides Apple)

The Magnificent 7 did the heavy lifting, performing better than any S&P 500 sector ETF on Tuesday.

Bull by the horns
markets
Matt Phillips
5h

Oracle rips as backlog builds, but company misses on top and bottom lines

Oracle shares shot higher after-hours as the company reported a growing backlog, even though its fiscal Q1 results fell slightly short of expectations. The company reported:

  • Adjusted earnings per share of $1.47 vs. expectations of $1.48.

  • Revenue of $14.93 billion vs. expectations of $15.04 billion.

Shares were up 21% in after-hours trading, which is a pretty crazy stock move for a company with a market cap of more than $675 billion.

The market was likely impressed by a giant build in the company’s “remaining performance obligations,” or RPO, which is how the company measures the value of signed cloud computing deals that haven’t yet been reported as revenue. In a statement, CEO Safra Catz said: 

“We signed four multi-billion-dollar contracts with three different customers in Q1. This resulted in RPO contract backlog increasing 359% to $455 billion. It was an astonishing quarter — and demand for Oracle Cloud Infrastructure continues to build. Over the next few months, we expect to sign-up several additional multi-billion-dollar customers and RPO is likely to exceed half-a-trillion dollars.”

Oracle Announces Fiscal Year 2026 First Quarter Financial Results

Oracle Announces Fiscal Year 2026 First Quarter Financial Results

The market was likely impressed by a giant build in the company’s “remaining performance obligations,” or RPO, which is how the company measures the value of signed cloud computing deals that haven’t yet been reported as revenue. In a statement, CEO Safra Catz said: 

“We signed four multi-billion-dollar contracts with three different customers in Q1. This resulted in RPO contract backlog increasing 359% to $455 billion. It was an astonishing quarter — and demand for Oracle Cloud Infrastructure continues to build. Over the next few months, we expect to sign-up several additional multi-billion-dollar customers and RPO is likely to exceed half-a-trillion dollars.”

markets
Matt Phillips
5h

Robinhood rides index inclusion rally to record close

Robinhood Markets notched a new closing high Tuesday, as the crypto, stock, and options brokerage continued to ride a rally set off by the announcement that it would be added to the S&P 500 Index.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)

Robinhood appears to be benefiting from the so-called inclusion effect, a market phenomenon where companies that are added to major market indexes can see a price move as index funds — whose holdings must mirror the membership of the index — rush to buy the stock.

For what it’s worth, it seems like Robinhood will upon entry (effective prior to the market open on September 22) be the top-performing member of the index, as its roughly 220% gain this year is more or less double that of the current leader, Seagate Technology Holdings.

markets
Luke Kawa
5h

GameStop posts impressive Q2 results with big sales beat

Don’t call it a comeback!

GameStop is jumping aftermarket as the video games and collectibles retailer posted an impressive set of second-quarter results.

  • Net sales: $972 million (estimate $823 million).

  • Adjusted diluted earnings per share: $0.25 (estimate $0.16).

Note: these consensus estimates, compiled by Bloomberg, are from only two analysts.

The sales beat is particularly noteworthy, as the company had already done an exemplary job of expense control to help protect its bottom line. Revenues were up more than 20% versus the year-ago quarter, the biggest annual jump in sales since the company (and the world) was emerging from the pandemic in 2021.

The options market implies a move of plus or minus about 9.4% on earnings.

For a while, GameStop’s ability to generate positive net income was purely a function of the interest earnings on its substantial cash hoard. But now, GameStop has strung together five consecutive quarters of positive operating cash flows for the first time in its history!

This was the quarter when the company began to act on its bitcoin treasury strategy, raising money through the sale of convertible notes and using some proceeds to purchase the crypto asset.

Because of how much market value has been ascribed to potential for GameStop CEO Ryan Cohen to use its significant cash holdings to transform the company, the prospect of converting cash into bitcoin initially did not sit too well with investors following the announcement of this new strategic push in March.

Shares of the once-upon-a-time meme stock really didn’t get too much love during retail frenzies earlier in the summer, and were down about 25% year to date heading into this release.

As of the close of the quarter, its bitcoin holdings were valued at $528.6 million.

Western Digital Seagate Technology Rise to top of S&P 500

Data storage is so hot right now

A rapid turnaround in profitability helps explain how Seagate Technology and Western Digital have clawed to the top of the S&P 500 this year.

Matt Phillips7h

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