S&P 500 Top Movers on Friday

Advancers

• In addition to notching the top performance among the 30 components of the Dow, 3M shares led the way for the S&P 500, skyrocketing 23.0% to reach their highest level since 2022. The leap higher for the stock came after the maker of Scotch tape, Scotch-Brite, and other well-known brands reported better-than-expected second-quarter profit and salღes while boosting its forecasts for the full year. CEO William Brown, who took the reigns of 3M at the beginning of May, said the conglomerate is focused on organic revenue growth following the settlement of class-action lawsuits and the spinoff of its health care unit Solventum (SOLV).
• Shares of Mohawk Industries (MHK) soared 19.5% after the residential and commercial flooring manufacturer beat 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) forecasts for the second quarter and guided third-qua🤪rter earnings abov🦄e consensus estimates. Following the strong quarterly results, Bank of America upgraded Mohawk stock from "underperform" to "buy" while significantly hiking its price target. Analysts expressed confidence in Mohawk's ability to continue expanding its margins even as it navigates a difficult macroeconomic environment.
• Cable and internet provider Charter Communications (CHTR) also outperformed top- and bottom-line expectations in 澳洲幸运5官方开奖结果体彩网:its second-♕quarter earnings 🐷release, and its shares jumped 16.6%. Although Charter reported a decline in broadband subscribers amid stiff competition, the company achieved growth in rural markets, driven by its expansion in mobile phones as well as government programs aiming to improve internet access in more remote areas.

Decliners

• Dexcom (DXCM) shares suffered the steepest losses of any S&P 500 stock, plummeting 40.7% after the maker of glucose monitoring devices for patients managing diabetes missed second-quarter revenue estimates and 澳洲幸运5官方开奖结果体ౠ彩网:cut its sales guidance for the current quarter and the full year. According to the company, a reshuffling of its sales team, slower-than-expected new customer additions and lower revenue per user contributed to the weak results and a more restrained outlook.
• Biogen (BIIB) shares sank 7.2% after regulators in Europe rejected the Alzheimer’s treatment Leqembi developed by the biotechnology firm in coordination with Japan-based pharmaceutical company Eisai (ESAIY). Although the U.S. Food and Drug Administration (FDA) approved Leqembi last year, the European Medicines Agency’s human medicines committee did not recommend granting marketing authorization for the drug, arguing that the risk of serious side effects outweighs the treatment's potential benefits. Eisai's 澳洲幸运5官方开奖结果体彩网:American deposi✃tary receipts (ADRs) dropped 12.9% on the day.
• Shares of aerospace and defense contractor L3Harris Technologies (LHX) fell 5.7%. Although the company beat second-quarter profit estimates and boosted its full-year guidance, citing strong weapons demand amid elevated global tensions, Deutsche Bank downgraded the stock to "hold," pointing to a high valuation following year-to-date gains heading into Friday's session.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

What the Dotcom Bubble Tells Us About Market Today

There’s reason to believe history is repeating itself, according to a recent Deutsche Bank note that draws paral💧lels between the current rotation out of tech mega-caps and the bursting of the tech bubble in 2000.

In the 9 months after the bubble r♈eached its peak in March⛄ 2000, tech stocks fell more than 50%. The Consumer Staples, Utilities, and Healthcare sectors, meanwhile, each rose by more than 35%.

Research analyst Jim Reid sees similarities between that moment and the 澳洲幸运5官方开奖结果体彩网:current sector rotation out of big tech stocks. The 澳洲幸运5官方开奖结果体彩网:Magnificent Seven shed about 12% of their value between July 10 and Thursday, though they’re recovering some of those losses in today’s session. The S&P 500 lost nearly 4% in the same period. However, ꦐ7 of 10 sectors within the index rose over the period, led🍌 by utilities and healthcare, much like in 2000. 

Read the 澳洲幸运5官方开奖结果体彩网:full story here.

-澳洲幸运5官方开奖结果体彩网:Colin Laidley

AI Chip Stock Rally Returns

Shares of Nvidia (NVDA), Advanced Micro Devices (AMD), Broadcom (AVGO), and other chipmakers were 澳洲幸运5官方开奖结果体彩网:on the rise Friday, rebounding from recent losses, as analysts said the 澳洲幸运5官方开奖结果体彩网:torrid rise in chip stocks this ye🌌ar on surging dema๊nd for artificial intelligence is likely nowhere near i♉ts peak. 

The iShares Semiconductor ETF (SOXX) was up more than 2% in afternoon trading Friday, recovering from losses Thursday, though the fund was still down about 7% f𒁏rom the start of the month after a few difficult weeks for chip stocks. 

Semiconductor stocks took a hit this month amid concerns about 澳洲幸运5官方开奖结果体彩网:tightening trade restrictions and as investors 澳洲幸运5官方开奖结果体彩网:rotated into small-cap stocks, expecting thꦆey could bene🍸fit from Federal Reserve rate cuts.

However, analysts suggested the recent pressure on chip stocks could be short-lived as the broader rally in chip stocks this year makes a comeback on 澳洲幸运5官方开奖结果体彩网:strong fundamentals and surging demand for AI. 

-澳洲幸运5官方开奖结果体彩网:Kara Greenberg

3M Jumps 20% to a Two-Year High After Earnings

Shares of 3M (MMM) soared as the conglomerate 澳洲幸运5官方开奖结果体彩网:beat profit and sales estimates under new 𓂃CEO William Brown. The company behind Post-it Notes and Scotch tape also raised its full-year earnings guidance.

The strong financial performance came as 3M refocused on growth following settlements of two big class-action lawsuits and the spinoff of its Solventum (SOLV) health care unit.

3M shares were up about 20% early Friday afternoon, trading at their highest level since August 2022. The stock's surge was powering a 700-point gain for the Dow Jones Industrial Average.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Deckers Stock Soars as Hoka and Ugg Sales Jump

Deckers Brands (DECK) shares surged Friday, a day after 澳洲幸运5官方开奖结果ꦡ体彩网:the footwear company released earnings that showed sales for its popular Hoka and Uggs brands jum𝓀ped 30% and 14%, respecti🥃vely, compared to the same time last year.

Deckers reported $825.3 million in sales for the first quarter of fiscal 2025, up just over 22% from $675.8 million a year ago, and above analysts' expectations, according to estimates compiled by Visible Alpha.

The coꦺmpany earned $115.63 million in net income, more𝕴 than double the $55.25 million it reported in the first quarter last year and topping projections.\

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Charter Communications Jumps on Earnings Beat

Charter Communications (CHTR) shares soared Friday after the cable, phone, and internet provider posted 澳洲幸运5官方开奖结果体彩网:better-than-expected results on higher demand for its mobile service.

Charter reported second-quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $8.49, with revenue up less than 1% to $13.69 billion. Both beat consensus estimates of 🀅analysts pol🎀led by Visible Alpha.

Revenue from its mobile service jumped 💞36.9% to $737 million. Internet service, the company’s biggest segment, posted a 1.3% revenue gain to $5.81 billion.

Charter shares were up 16% in rece𒁃ℱnt trading, leading Nasdaq advancers.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Dexcom Plunges on Weak Earnings, Guidance

Shares of Dexcom (DXCM) tumbled 40% in early trading Friday after 澳洲幸运5官方开奖结果体彩网:the company reported second-quarter earꦍnings that ♛missed e♓stimates and slashed its full-year revenue guidance.

The maker of glucose mon⛄itors said it now expects full-year organic revenue growth of 11% to 13%, down from its projection in April of 17% to 21%

🅘Dexcom shares look set to break down from a symmetrical triangle, a chart patꦰtern that often precedes a trending move in the direction of the breakout.

The Dexcom share price could atඣtract buying interest at key char🐠t levels including $70, $52, $37, and $24.

It's also worth noting that, on the four occasions the relative strength index has fallen below the 30 threshold since 2016, the stock has gone on to gain at least 40% within the next six months.

Read our full 澳洲幸运5官方开奖结果体彩网:technical analysis here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Stock Index Futures Higher Ahead of Key Inflation Data

Futures tied🧜 to the Dow Jones Industrial Average🍎 were up 0.7%.

S&P 500 futures were up 0.9%.

Nasdaq 100 futures were up 1.1%.