Top Movers of the Day

Mover TrackerTuesday, Jul 30, 2024 4:50 pm ET

1min read

Tech stocks tumbled Tuesday as Microsoft (MSFT) earnings approached. Semiconductor investors saw major losses with the PHLX Semiconductor Index down 17% from its July peak. Rotations into small caps, energy, financials, and real estate offered some market balance.

Microsoft's earnings beat estimates but cloud growth fell short, leading to a sharp post-bell drop. Major benchmarks were mixed: S&P 500 down 0.5%, Dow up 0.5%, Nasdaq down 1.3%. Key earnings and central bank meetings, including the Fed and BoJ, are expected to impact market volatility this week.

Here are the top movers of the day:

CrowdStrike (-9.72%): Dropped nearly 10% after Delta Air Lines sought damages over a tech outage.
Microsoft (-0.89%): Fell slightly, with further declines after earnings report.
Nvidia (-7%): Declined due to competition concerns in AI.
Merck (-9.81%): Fell after earnings outlook disappointed.
Pfizer (+2.2%): Rose on better-than-expected earnings.
Procter & Gamble (-4.8%): Dropped on sales miss despite profit beat.
SoFi Technologies (+1.2%): Increased after beating earnings estimates.
PayPal (+8.6%): Jumped on strong earnings and raised guidance.
Corning (-6.9%): Fell after issuing disappointing guidance.
JetBlue Airways (+12%): Rose on unexpected profit.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.