Big S&P 500 Movers on Wednesday

Decliners

• The sharpest losses in the S&P 500 belonged to shares of Lamb Weston Holdings (LW), which plummeted 28% after it reported weaker-than-expected revenue and earnings p♓er sha🍰re (EPS) for its fiscal fourth quarter. The manufacturer of frozen potato products cited declining restaurant traffic in the U.S. and key international markets amid higher menu prices as a reason for the lackluster performance. The company also guided for fiscal 2025 sales and profits falling below consensus estimates.
• Tesla shares fell 12% after the electric vehicle maker reported a 澳洲幸运5开奖号码历史查询:45% year-ov♛er-year decline in prof🐈its for the second quarter, missing analysts' expectations. Although quarterly revenue ticked higher from a year ago and exceeded forecasts, lower average selling prices and delivery numbers dragged on Tesla's profitability. The company said it would focus on lowering production costs, developing lower-cost vehicles, and progressing on artificial intelligence projects including its humanoid robots and robotaxi.
• Stocks that had been surging in 2024 amid lofty AI expectations posted significant losses during Wednesday's rout. Enthusiasm about meeting power demand from AI data centers helped propel shares of power generator Vistra (VST) to an all-time high in May, but the stock has been trending downward since then, and it slipped 9.4%. Shares of server and data storage provider Super Micro Computer (SMCI) dropped 9.2%. Other heretofore AI darlings, including semiconductor giants, also fared poorly.

• Shares of Roper Technologies (ROP), which provides software and tech-enabled products to a variety of markets, sank 7.4% after the company missed second-quarter revenue estimates and provided a lower-than-expected profit forecast for the current quarter. The soft outlook reflects restrained spending by Roper's clients, with businesses limiting spending and putting off contract renewals amid economic uncertainties and elevated interest rates.

Advancers

• Enphase Energy (ENPH) shares notched Wednesday's best performance of any S&P 500 stock, soaring 13% after the manufacturer of solar and EV charging equipment released its quarterly report. Although second-quarter sales and profits fell short of estimates, Enphase guided above expectations for the third quarter. The company touted progress in normalizing its inventory.
• AT&T (T) also posted slightly lower-than-expected revenue and earnings for the second quarter, but the telecommunications giant exceeded forec🔥asts for postpaid customer additions during the period, and its shares jumped 5.2%. AT&T's 澳洲幸运5开奖号码历史查询:free cash flow (FCF) also came in ahead of estimates, and management predicted that full-year FCF will surpass last year's figure.
• Shares of NextEra Energy (NEE) advanced 4.6% after the renewable energy provider 澳洲幸运5开奖号码历史查询:beat quarterly profit estimates and provided an upbeat outlook. The company expressed confidence in its opportunities to replace less efficient forms of power generation and to fulfill the increasing demand for energy arising from various industries.
  

-澳洲幸运5开奖号码历史查询:Michael Bromberg

The Worst Day in Years for the Nasdaq

The Nasdaq lost 654 points, or 3.6%, on Wednesday, in 澳洲幸运5开奖号码历史查询:its biggest one-day drop since falling almost 3.9% on October 7, 2022.

In terms of points, it was the index’s wors🐲t day since March 16, 2020, the day t🐓he onset of the Covid-19 pandemic led the Federal Reserve to drop interest rates to nearly 0%.

Wednesday’s rout 🦩e🐓rased an estimated $985 billion off the market capitalization of the $27 trillion Nasdaq. 

-澳洲幸运5开奖号码历史查询:Colin Laidely

Magnificent Seven Stocks Have Worst Day on Record

The Roundhill Magnificent Seven ETF suffered its 澳洲幸运5开奖号码历史查询:largest intraday decline on record on Wednesday.

Investors fled America's tech giants after earnings reports from (TSLA) and Alphabet (GOOGL) raised concerns about🐬 the cost of artificial intelligence investments and the sustainability of the Mag Seven's blistering earnings ꦍgrowth.

Still, the group is expected to report that aggregate second-quarter earnings grew tꩲhree times faster than the S&P 50𒀰0 as a whole (30% vs. 10%).

Despite a recent patch of volatility and Wednesday's steep losses for each member of the group, all but one of the Magnificent Seven stocks are in positive territory for the year, with Tesla being the outlier.

-澳洲幸运5开奖号码历史查询:Colin Laidley

Lamb Weston Stock Swoons as Frozen Potato Demand Softens

Lamb Weston (LW) shares plunged Wednesday after the food processing company's 澳洲幸运5开奖号码历史查询:fiscal fourth-quarter results missed expectations on the top and bottom lines.

CEO Tom Werner said demand for fr🐻ozeꦺn potatoes softened due to inflation.

"The operating environment has changed rapidly over the past 12 months as global restaurant traffic and frozen potato demand softened due to menu price inflation continuing to negatively affect global restaurant traffic," Werner said.

Lamb�🍌� Weston shares were down 27% in recent trading, at their lowest level in more than two years.

-澳洲幸运5开奖号码历史查询:Andrew Kessel

AT&T Shares Among Top S&P 500 Gainers After Earnings

AT&T (T) shares rose Wednesday after the company 澳洲幸运5开奖号码历史查询:reported second-quarter results♛ that were boosted by the addition of more new subscribers than 💯analysts had expected.

The stock was up more than 5% in recent trading, making AT&T one of the top gainers ♈on the S&♐;P 500 for the day. The stock has gained about 23% over the past year.

The telecommunications titan reported𓆏 419,000 new postpaid subscribers, well above the 251,800 expected by analysts, according to Visible Alpha. 

AT&T posted diluted earnings per share of 49 cents on revenue of $29.8 billion, both of which were slightly below analysts' expectations. The company reiterated previous guidance for full-year adjusted earnings of $2.15 to $2.25 per share.

-澳洲幸运5开奖号码历史查询:Andrew Kessel

Alphabet Shares Fall on Cost Concerns Despite Earnings Beat

Shares of Google parent Alphabet (GOOGL) 澳洲幸运5开奖号码历史查询:lost ground Wednesday amid concerns about the tech giant's spending on 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) investments, despite an 澳洲幸运5开奖号码历史查询:earnings beat.

However, several analysts suggested worries about costs could be overblown, and raised their price targets for the stock on Google's strengths, as well as early benefits from AI.

Citi analysts raised their price target for the stock t꧑o $212 from $190, while J.P. Morgan analysts lifted their price objective to $208 from $200.

Alphabet shares were down close to 4.7% at $173.28 in late-morning trading Wednesday, though they've still gained 23% since the start of the year.

-澳洲幸运5开奖号码历史查询:Naomi Buchanan

Thermo Fisher Rises on Strong Earnings

Thermo Fisher Scientific (TMO) shares were on the rise after the medical device manufacturer reported better-than-expected 澳洲幸运5开奖号码历史查询:second-quarter results and raised its projections for the full fiscal y💟ear.🎀

The company reported a 14% year-over-year increase in 澳洲幸运5开奖号码历史查询:net income&nb𓄧sp;to $1.55 billion, well above analysts' expectations. Revenue was $10.54 billion, down 1% from a year ago but slight above estimates.

After issuing warnings about a 澳洲幸运5开奖号码历史查询:potentially lower sales outlook at the start of the year, Thermo Fisher's solid Q2 results led the company to adjust its internal projections for the full fiscal year. Thermo Fisher now project🐷s revenue within a range of $42.4 billion to $43.3 billion, a higher floor than the pr🌱evious range of $42.3 to $43.3 billion. 

Thermo Fisher shares were up 💮more than 2% in recent trading. The stock is up about 6% since the start of the year.

-澳洲幸运5开奖号码历史查询:Aaron McDade

Tesla Levels to Watch as Stock Plunges

Tesla shares fell more than 10% in early trading Wednesday after the electric vehicle maker posted a 澳洲幸运5开奖号码历史查询:45% drop in second-quarter profit, reported a reduction in the average selling price of its vehicles from a year earlier, and cautioned about a rise in 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) costs.

Despite bullish technicals, Tesla shares sit poised to change gear after the company's weaker-than-expected quarterly results, 澳洲幸运5开奖ꦬ号码历史查询:according to our technical analysis.

Amid post-earnings selling, the stock could attract buying interest at key chart levels including $220 and $198. if Tesla shares resume their uptrend, t🌼he measuring principle projects a price target of $360.

Tesla shares were down 11ꦿ.1% at $219.04 in recent trading.

-澳洲幸运5开奖号码历史查询:Timothy Smith

Futures Point to Lower Open for Major Indexes

Futures tied to the Dow Jones Industrial Average were dow🏅n 0.4%.

S&P 500 futures were off 0.9%.

Nasdaq 100 futures were down 1.4%.