Markets
Nia Warfield

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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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.

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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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