Nasdaq 100 Movers: Gilead Sciences Leads the Way, Charter Communications Lags Behind

Gilead Sciences led the Nasdaq 100 index higher, rising 2.9% in early trading. Charter Communications was the worst performer, falling 13.4%. Intel dropped 8.2%, while Axon Enterprise gained 2.4%. These moves come as Gilead Sciences registers a 26.1% year-to-date gain, while Charter Communications is down 4.0% year to date.

The Nasdaq 100 index opened with notable movements on July 2, 2025. Gilead Sciences (NASDAQ: GILD) led the index higher, rising 2.9% in early trading. In contrast, Charter Communications (NASDAQ: CHTR) was the worst performer, falling 13.4%. Intel (NASDAQ: INTC) dropped 8.2%, while Axon Enterprise (NASDAQ: AAXN) gained 2.4%. These moves come as Gilead Sciences registers a 26.1% year-to-date gain, while Charter Communications is down 4.0% year to date.

Gilead Sciences, a biopharmaceutical company, saw its stock jump due to an upgrade from Needham & Co. to a buy rating with a $133 price target [1]. The analyst cited the potential of Gilead's new Yeztugo drug for pre-exposure prevention of HIV-1, which is expected to capture a significant market share in the growing HIV prophylaxis market. This upgrade suggests that Gilead's stock may be undervalued, particularly considering its free cash flow generation and dividend yield.

Charter Communications, on the other hand, reported weaker-than-expected quarterly results, leading to a 15% drop in its stock price. The company's adjusted EBITDA margin was 41.4%, down from 41.6% in the previous quarter. Residential revenue fell by 0.4%, while commercial revenue grew by 0.8%. The company's internet subscriber count decreased by 117,000, and video subscribers declined by 73,000. Despite these losses, Charter's internet revenue grew by 2.8% and video revenue declined by 9.9%. The company generated $1 billion in free cash flow during the quarter, which was down from $1.25 billion in the previous quarter. Charter's aggressive buyback program has reduced its share count by 2.2% over the past year.

In summary, the Nasdaq 100 index showed mixed performance on July 2, 2025, with Gilead Sciences leading the way due to an analyst upgrade and Charter Communications suffering from weaker-than-expected quarterly results. Investors should closely monitor these companies and the broader market trends.

References:
[1] https://www.nasdaq.com/articles/why-gilead-sciences-stock-just-popped
[2] https://seekingalpha.com/article/4804586-charter-communications-fear-reaches-extreme-levels-upgrade