Top Movers of the Day

Mover TrackerThursday, Aug 1, 2024 4:58 pm ET

1min read

Economic concerns and disappointing data led to major index plunges on Thursday. The S&P 500 fell 1.4%, Dow dropped 1.2%, and Nasdaq sank 2.3%. The 10-year Treasury yield dropped below 4% for the first time in six months. Increased volatility and weak job and manufacturing figures spurred a risk-off move into safe-haven assets like gold and Treasuries. Key earnings reports from Amazon and Apple were anticipated to impact the market further. Investors worried about economic slowdown and potential rate cuts as jobless claims rose to a one-year high.

Here are the top movers of the day:

Shake Shack: Stock gained nearly 17% after surpassing revenue estimates, earning 27 cents per share on $316 million revenue. Narrowed full-year revenue estimate to $1.22-$1.25 billion.

C.H. Robinson: Shares rose over 14% with better-than-expected Q2 earnings of $1.15 per share, though revenue slightly missed at $4.48 billion.
Mobileye Global: Shares fell over 22% after lowering full-year revenue and income forecasts, despite beating Q2 earnings and revenue expectations.
Moderna: Shares dropped around 21% after cutting full-year sales guidance, despite beating Q2 revenue estimates and posting a narrower-than-expected loss.
Teladoc: Stock fell nearly 9% after missing Q2 revenue expectations with $642 million.
Rolls-Royce: Shares jumped over 5% as the company resumed dividends and raised its 2024 profit outlook.
Air Products and Chemicals: Stock surged around 9% after beating earnings expectations with $3.20 per share, despite lower-than-expected revenue.
Meta: Shares rose nearly 5% after Q2 earnings beat expectations and a positive revenue forecast. Net income increased 73% due to cost-cutting and AI investments.
MGM Resorts: Stock declined over 13% despite surpassing Q2 earnings expectations.
Carvana: Shares spiked around 10% after beating Q2 expectations, earning 14 cents per share on $3.41 billion revenue, and projecting a record year in 2024.
Arm Holdings: Shares fell over 15% after issuing light current-quarter guidance.
Crocs: Shares fell over 2% despite beating Q2 earnings and revenue estimates. Raised full-year estimates.
Etsy: Shares dropped over 7% after mixed Q2 results, beating revenue but missing earnings expectations.
Qualcomm: Stock fell over 9% despite beating Q3 estimates, with concerns about trade policy affecting revenue.

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