Top Movers of the Day

Stocks edged lower Tuesday after a mixed session, with the S&P 500 and Dow Jones slightly down while the Russell 2000 rose 1%. Investors awaited results from Alphabet and Tesla. Small caps outperformed as inflation expectations fueled rate cut hopes. Key earnings included Coca-Cola, Lockheed Martin, and Spotify, which performed well, while General Motors and UPS declined. Existing home sales fell 5.4% in June, reflecting high interest rates. Analysts anticipate modest growth in Q2 GDP and slight PCE inflation increases. Investors foresee a Fed rate cut in September if inflation remains controlled.

Spotify Technology: Shares up 12% after Q2 earnings beat. Gross margin and operating income exceeded expectations. Analysts are cautiously optimistic despite weaker monthly active user counts due to strong margins and focus on premium subscribers and bundles.

United Parcel Service: Shares dropped 12% after missing Q2 earnings and revenue estimates, hitting a 52-week low. UPS reported $1.79 EPS on $21.80 billion revenue, below analysts' estimates of $1.99 EPS and $22.18 billion revenue.

Pentair: Shares up 9% after beating Q2 expectations with $1.22 EPS on higher-than-expected revenue. Full-year guidance was raised.

NXP Semiconductors: Shares fell 7% after Q2 earnings slightly missed estimates with $3.20 EPS. Revenue was in line with expectations at $3.13 billion.

Crown Holdings: Shares up nearly 9% after beating Q2 earnings estimates with $1.81 EPS. Revenue slightly missed but full-year guidance was raised.

Danaher: Shares rose 5.3% after Q2 earnings beat expectations with $1.72 EPS on $5.74 billion revenue, above estimates of $1.57 EPS on $5.59 billion revenue.

Inter Parfums: Shares jumped nearly 9% after posting record Q2 net sales and reaffirming full-year earnings and revenue.

Comcast: Shares fell over 2% despite beating earnings estimates with $1.21 EPS. Revenue missed expectations at $29.69 billion.

General Motors: Shares fell over 6% after delaying a second U.S. electric truck plant and Buick's first EV, affecting 2025 EV production targets.

GE Aerospace: Shares rose over 5% after Q2 earnings beat expectations with $1.20 EPS on $9.09 billion revenue.

Sherwin-Williams: Shares up nearly 7% after Q2 earnings beat with $3.70 EPS, despite revenue miss. Full-year earnings guidance slightly raised.

Lockheed Martin: Shares rose over 5% after beating Q2 earnings and revenue expectations and raising full-year forecast.