Salesforce, Inc. provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale. In addition, its platform offering comprise a flexible platform that enables companies of various sizes, locations, and industries to build business workflow and apps with customer; online learning platform that allows anyone to learn in-demand Salesforce skills; and Slack, an intelligent productivity platform. The company's marketing services enables companies to plan, personalize, automate, and optimize customer marketing journey, connecting interaction, and connected products; and commerce services, which empowers shopping experience across various customer touchpoint, such as mobile, web, social, and stores and provides click-to-code tools that offers customers to build and deploy solutions. Further, its analytics offering includes Tableau, an end-to-end analytics solution for range of enterprise use cases and intelligent analytics with AI models, spot trends, predict outcomes, creates summaries, timely recommendations, and take action from any device; and integration service including MuleSoft, which provides building blocks to deliver end-to-end and connected experiences. Additionally, the company provides data cloud, a hyperscale data engine native to Salesforce; vertical services to meet the needs of customers in industries, such as financial services, healthcare and life sciences, manufacturing and automotive and government; and offers salesforce starter for small and medium-sized businesses. Salesforce, Inc. was incorporated in 1999 and is headquartered in San Francisco, California.

Salesforce looks like a high-quality business, but the market no longer gives it an unconditional growth premium. On earnings, the company is strong: a P/E of 18.15 is roughly twice as low as the industry median, and a P/FCF of 14.57 is also noticeably below average, which supports the case for undervaluation on an earnings- and cash-flow basis. At the same time, a P/S of 3.41 and a P/B of 3.75 are above the industry medians, so on revenue and balance-sheet metrics the valuation is still not cheap. CRM’s margins are very strong: gross margin of 77.64%, operating margin of 20.40%, and net margin of 18.73% are well above the median and have generally remained stable over the years, indicating a high-quality business model. Capital efficiency is also solid: ROE of 14.95%, ROA of 7.39%, and ROI of 11.41% are above the industry and improving, which supports a fair valuation. Revenue, EBITDA, operating profit, and net income have generally grown in recent periods, confirming the resilience of the business and its ability to monetize scale. On the other hand, liquidity is weak: a current ratio of 0.76 and a quick ratio of 0.00 look concerning, especially given the decline in the current ratio over time. Debt load is formally moderate at a debt/equity ratio of 0.18, but the sharp increase in long-term debt to 39.28 billion, combined with declining cash on hand, worsens the financial flexibility profile. Dividend yield remains symbolic, so it has almost no impact on the investment case. Overall, the fundamentals support a moderately positive view, but they do not justify an aggressive target increase, because part of the strong operating metrics is already reflected in the multiples. For an investor, this is a story about a high-quality, profitable, and margin-rich software business with good returns, but with notable concerns about liquidity and debt dynamics. Therefore, only a small positive adjustment to the forecast is appropriate, rather than a re-rating on the back of strong growth.

Salesforce, Inc.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Сильный индекс, без изменений. Рынок на стороне быков.

Strong index, flat. The market is on the bulls' side.

Средний индекс, незначительно упал. Приток средств в лонги снизился, но остается положительным.

Medium index, slightly down. The inflow of funds into longs has decreased, but remains positive.

CRM remains a profitable and high-margin business with a low P/E and strong FCF, but weak liquidity and rising debt limit the scope for upward re-rating.

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +1.66%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +3.36%. September E-mini S&P futures (ESU26) rose +1.65%, and September E-mini Nasdaq futures (NQU26) rose +3.28%.
Stock indexes settled sharply higher on Thursday after strong growth at Microsoft reassured investors that massive spending on artificial intelligence is starting to pay off. Microsoft surged more than +15% after reporting that Q4 Azure and other cloud services revenue ex-forex rose +43%, better than the consensus of +39.3% and the fastest quarterly growth in four years. Microsoft's positive earnings also eased AI spending concerns and fueled a sharp rally in chipmakers and AI-infrastructure stocks, pushing the overall market even higher. The markets will get another look at megacap earnings when Amazon.com and Apple report after Thursday’s close.
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On the negative side, Meta Platforms fell more than -7% after a disappointing revenue forecast. Also, bond yields rose on Thursday for a second day on concerns that Fed Chair Warsh won’t manage to curb inflation that has run above target for five straight years after the FOMC kept interest rates unchanged on Wednesday. The 10-year T-note yield rose +3 bp to 4.67%.
Thursday’s US economic news was mixed for stocks. Q2 GDP growth was below expectations despite strong consumer spending, but weekly jobless claims rose less than expected, and the core PCE price index eased as expected.
US weekly initial unemployment claims rose +9,000 to 197,000, showing a stronger labor market than expectations of 200,000.
US Jun personal spending rose +0.3% m/m, weaker than expectations of +0.4% m/m, although May personal spending was revised upward to +0.9% m/m from the previously reported +0.7% m/m. Jun personal income rose +0.2% m/m, weaker than expectations of +0.3% m/m.
The US Jun core PCE price index, the Fed's preferred inflation gauge, eased to +3.3% y/y from +3.4% y/y in May, right on expectations.
US Q2 GDP rose +1.5% (q/q annualized), weaker than expectations of +2.0%, despite Q2 personal consumption rising +3.2%, stronger than expectations of +2.3%. The Q2 core PCE price index eased to +3.4% from +4.4% in Q1, a slower pace of increase than expectations of +3.5%.
Sep WTI crude oil prices (CLU26) gave up an overnight advance and fell more than -1% on Wednesday amid hopes for progress toward a diplomatic solution to the war in the Middle East. Pakistan's Foreign Ministry said today that negotiations between the US and Iran are "ongoing" to restore stability, particularly in the Strait of Hormuz. Also, shipping through the strait has picked up in recent days, with the US claiming its navy escorted some tankers across the waterway.
Tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf. US Central Command said Thursday that the US launched airstrikes against dozens of military targets in Iran aimed at degrading Iran's ability to threaten US troops. Iran retaliated by launching drones and missiles into Kuwait and Jordan. Also, diplomatic attempts to reopen the Strait of Hormuz appear to be at an impasse. Iranian Deputy Foreign Minister Gharibabadi said Oman's proposal for a route through the Strait of Hormuz, with 50% under Iran's control and 50% under Oman's, would not address Iran's concerns and that the inbound passage and part of the outbound channel must be entirely under Iran's control.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are awaiting results from a raft of megacap technology companies this week, including Microsoft and Meta Platforms today, and Amazon.com and Apple on Thursday. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 272 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 66% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 closed up +1.53%. China's Shanghai Composite fell to a 1-week low and closed down -0.62%. Japan's Nikkei-225 Stock Average closed up +0.71%.
Interest Rates
September 10-year T-notes (ZNU6) on Thursday closed down -7.5 ticks. The 10-year T-note yield rose +2.5 bp to 4.665%. T-notes moved lower on Thursday amid reduced safe-haven demand with the sharp rally in stocks. T-notes were also pressured by some negative carryover from Wednesday when the FOMC kept interest rates unchanged, fueling concern the Fed is behind the curve in addressing inflation, which has been above the Fed’s target for more than five years.
T-notes recovered from their worst level after Thursday’s US economic news showed Q2 GDP growing less than expected and the Jun core PCE price index easing as expected, dovish factors for Fed policy. Also, Thursday’s =1% decline in WTI crude oil lowered inflation expectations, a supportive factor for T-notes.
European government bond yields moved lower on Thursday. The 10-year German bund yield fell -0.6 bp to 3.155%. The 10-year UK gilt yield fell -5.2 bp to 4.984%.
Eurozone Q2 GDP rose +0.4% q/q and +1.0% y/y, stronger than expectations of +0.2% q/q and +0.7% y/y.
The Eurozone Jul economic confidence indicator rose +1.5 to a 5-month high of 96.9, stronger than expectations of 96.0.
The Eurozone Jun unemployment rate was unchanged at 6.3%, slightly weaker than expectations of 6.2%.
German Jul CPI (EU harmonized) rose to +2.8% y/y from +2.4% y/y in Jun, right on expectations.
As expected, the BOE kept its benchmark rate unchanged at 3.75% in a 6-3 vote and said there were "clear signs" that domestic inflationary pressures are easing and "little evidence" so far that the energy shock has stoked wage demands and higher prices elsewhere.
The markets are discounting an 84% chance of a +25 bp ECB rate hike at their next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks rallied sharply on Thursday amid better-than-expected earnings from Lam Research. The Philadelphia Stock Exchange Semiconductor Index ($SOX) closed up more than +8%. Nebius Group NV (NBIS) closed up more than +25% to lead gainers in the Nasdaq 100, and Sandisk (SNDK) closed up more than +24% to lead gainers in the S&P 500. Also, Lam Research (LRCX) closed up more than +19%, and Micron Technology (MU) closed up more than +18%. In addition, Applied Materials (AMAT) and Western Digital (WDC) closed up more than +14%, and Advanced Micro Devices (AMD) closed up more than +13%. Finally, Seagate Technology Holdings Plc (STX), Intel (INTC), and Marvell Technology (MRVL) closed up more than +11%, and ARM Holdings Plc (ARM) and ASML Holding NV (ASML) closed up more than +6%.
Cryptocurrency-exposed stocks soared on Thursday as Bitcoin (^BTCUSD) rose more than +2%. Riot Platforms (RIOT) closed up more than +20%, and Galaxy Digital Holdings (GLXY) and MARA Holdings (MARA) closed up more than +17%. Also, Strategy (MSTR) and Circle Internet Group (CRCL) closed up more than +4%, and Coinbase Global (COIN) closed up more than +2%.
Most software stocks tumbled on Thursday after recent sharp gains as investors rotate back into chipmakers and exit the software sector. Thomson Reuters (TRI) closed down more than -7%, and Workday (WDAY), Adobe Systems (ADBE), Atlassian Corp (TEAM), and Intuit (INTU) closed down more than -5%. Also, Autodesk (ADSK), ServiceNow (NOW), and Palantir Technologies (PLTR) closed down more than -4%, and Salesforce (CRM) closed down more than -4% to lead losers in the Dow Jones Industrials.
Corcept Therapeutics (CORT) closed up more than +26% after raising its full-year revenue forecast to $1.1 billion to $1.2 billion from a previous estimate of $950 million to $1.05 billion, stronger than the consensus of $999.6 million.
EMCOR Group (EME) closed up more than +19% after reporting Q2revenue of $5.15 billion, well above the consensus of $4.71 billion, and boosting its full-year revenue forecast to $20 billion to $20.5 billion from a previous forecast of $18.5 billion to $19.25 billion, stronger than the consensus of $19 billion.
Quanta Services (PWR) closed up more than +17% after reporting Q2 revenue of $9.56 billion, well above the consensus of $8.52 billion, and raising its full-year revenue forecast to $39.3 billion to $39.7 billion from a previous forecast of $34.7 billion to $35.2 billion, stronger than the consensus of $35.02 billion.
Microsoft (MSFT) closed up more than +15% to lead gainers in the Dow Jones Industrials after reporting Q4 Azure and other cloud services revenue ex-forex rose +43%, better than the consensus of +39.3% and the fastest quarterly growth in four years.
Huntington Ingalls (HII) closed up more than +14% after reporting Q2 sales and service revenue of $3.42 billion, well above the consensus of $3.15 billion.
Chipotle Mexican Grill (CMG) closed up more than +12% after reporting Q2 comparable sales rose +2.2%, better than the consensus of +1.33%.
Baxter International (BAX) closed up more than +7% after reporting Q2 adjusted EPS of 56 cents, above the consensus of 37 cents, and forecasting full-year adjusted EPS of $1.95 to $2.15, stronger than the consensus of $1.92.
Avery Dennison (AVY) closed up more than +4% after reporting Q2 net sales of $2.46 billion, better than the consensus of $2.30 billion.
Alnylam Pharmaceuticals (ALNY) closed down more than -28% to lead losers in the Nasdaq 100 after reporting Q2 revenue of $1.29 billion, below the consensus of $1.31 billion, and cutting its full-year product revenue forecast to $4.7 billion to $5.1 billion from a previous forecast of $4.9 billion to $5.3 billion, weaker than the consensus of $5.1 billion.
Fair Isaac (FICO) closed down more than -17% to lead losers in the S&P 500 after reporting Q3 revenue of $674.2 million, weaker than the consensus of $681.8 million, and forecasting full-year revenue of $2.53 billion, below the consensus of $2.56 billion.
Norwegian Cruise Line Holdings Ltd (NCLH) closed down more than -9% after cutting its annual forecasts and said bookings for the next 12 months are weak.
Crocs (CROX) closed down more than -8% after forecasting Q3 adjusted EPS of $3.20 to $3.30, weaker than the consensus of $3.53.
Meta Platforms (META) closed down more than -7% after forecasting Q3 revenue of $61 billion to $64 billion, the midpoint below the consensus of $63.17 billion.
Carvana (CVNA) closed down more than -7% after forecasting full-year adjusted Ebitda of $2.7 billion to $3.0 billion, the midpoint below the consensus of $2.99 billion.
Earnings Reports (7/31/2026)
AbbVie Inc (ABBV), AES Corp/The (AES), Ares Management Corp (ARES), Cboe Global Markets Inc (CBOE), Chevron Corp (CVX), Church & Dwight Co Inc (CHD), Colgate-Palmolive Co (CL), Dominion Energy Inc (D), Eaton Corp PLC (ETN), ExxonMobil Holdings Corp (XOM), Federal Realty Investment Trust (FRT), Franklin Resources Inc (BEN), Linde PLC (LIN), LyondellBasell Industries NV (LYB), Moderna Inc (MRNA), T Rowe Price Group Inc (TROW).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Sharply Higher as Microsoft Leads a Surge in Tech Stocks

The S&P 500 Index ($SPX) (SPY) today is up +0.86%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +2.65%. September E-mini S&P futures (ESU26) are up +0.84%, and September E-mini Nasdaq futures (NQU26) are up +2.69%.
Stock indexes are rallying sharply today after strong growth at Microsoft reassured investors that massive spending on artificial intelligence is starting to pay off. Microsoft is up more than +13% after reporting late Wednesday that Q4 Azure and other cloud services revenue ex-forex rose +43%, better than the consensus of +39.3% and the fastest quarterly growth in four years. Microsoft's positive earnings are also fueling a sharp rally in chipmakers and AI-infrastructure stocks, pushing the overall market even higher. The markets will get another look at megacap earnings when Amazon.com and Apple report after today’s close.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the negative side, Meta Platforms is down more than -8% after a disappointing revenue forecast. Also, bond yields are rising on concerns that Fed Chair Warsh won’t manage to curb inflation that has run above target for five straight years after the FOMC kept interest rates unchanged on Wednesday. The 10-year T-note yield is up +2 bp to 4.66%.
Today’s US economic news was mixed for stocks, with Q2 GDP growth below expectations despite strong consumer spending, but weekly jobless claims rose less than expected and the core PCE price index eased as expected.
US weekly initial unemployment claims rose +9,000 to 197,000, showing a stronger labor market than expectations of 200,000.
US Jun personal spending rose +0.3% m/m, weaker than expectations of +0.4% m/m, although May personal spending was revised upward to +0.9% m/m from the previously reported +0.7% m/m. Jun personal income rose +0.2% m/m, weaker than expectations of +0.3% m/m.
The US Jun core PCE price index, the Fed's preferred inflation gauge, eased to +3.3% y/y from +3.4% y/y in May, right on expectations.
US Q2 GDP rose +1.5% (q/q annualized), weaker than expectations of +2.0%, despite Q2 personal consumption rising +3.2%, stronger than expectations of +2.3%. The Q2 core PCE price index eased to +3.4% from +4.4% in Q1, a slower pace of increase than expectations of +3.5%.
Sep WTI crude oil prices (CLU26) gave up an overnight advance and turned lower amid hopes for progress toward a diplomatic solution to the war in the Middle East. Pakistan's Foreign Ministry said today that negotiations between the US and Iran are "ongoing" to restore stability, particularly in the Strait of Hormuz. Shipping through the strait has picked up in recent days, with the US claiming its navy escorted some tankers across the waterway.
Tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf. US Central Command said today that the US launched airstrikes against dozens of military targets in Iran aimed at degrading Iran's ability to threaten US troops. Iran retaliated by launching drones and missiles into Kuwait and Jordan. Also, diplomatic attempts to reopen the Strait of Hormuz appear to be at an impasse. Iranian Deputy Foreign Minister Gharibabadi said Oman's proposal for a route through the Strait of Hormuz, with 50% under Iran's control and 50% under Oman's, would not address Iran's concerns and that the inbound passage and part of the outbound channel must be entirely under Iran's control.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are awaiting results from a raft of megacap technology companies this week, including Microsoft and Meta Platforms today, and Amazon.com and Apple on Thursday. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 243 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 62% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +1.59%. China's Shanghai Composite fell to a 1-week low and closed down -0.62%. Japan's Nikkei-225 Stock Average closed up +0.71%.
Interest Rates
September 10-year T-notes (ZNU6) today are down -6 ticks. The 10-year T-note yield is up +2.3 bp to 4.663%. T-notes are sliding today on reduced safe-haven demand with the sharp rally in stocks. T-notes also have some negative carryover from Wednesday when the FOMC kept interest rates unchanged, fueling concern the Fed is behind the curve in addressing inflation, which has been above the Fed’s target for more than five years.
T-notes recovered from their worst level after today’s US economic news showed Q2 GDP growing less than expected and the Jun core PCE price index easing as expected, dovish factors for Fed policy.
European government bond yields are mixed today. The 10-year German bund yield is up +1.0 bp to 3.170%. The 10-year UK gilt yield is down -3.2 bp to 5.004%.
Eurozone Q2 GDP rose +0.4% q/q and +1.0% y/y, stronger than expectations of +0.2% q/q and +0.7% y/y.
The Eurozone Jul economic confidence indicator rose +1.5 to a 5-month high of 96.9, stronger than expectations of 96.0.
The Eurozone Jun unemployment rate was unchanged at 6.3%, showing a slightly weaker labor market than expectations of 6.2%.
German Jul CPI (EU harmonized) rose to +2.8% y/y from +2.4% y/y in Jun, right on expectations.
As expected, the BOE kept its benchmark rate unchanged at 3.75% in a 6-3 vote and said there were "clear signs" that domestic inflationary pressures are easing and "little evidence" so far that the energy shock has stoked wage demands and higher prices elsewhere.
The markets are discounting an 84% chance of a +25 bp ECB rate hike at their next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are rallying sharply today on better-than-expected earnings from Lam Research. The Philadelphia Stock Exchange Semiconductor Index ($SOX) is up more than +7%. Nebius Group NV (NBIS) is up more than +26% to lead gainers in the Nasdaq 100, and Sandisk (SNDK) is up more than +22% to lead gainers in the S&P 500. Also, Lam Research (LRCX) is up more than +21%, and Western Digital (WDC) is up more than +15%. In addition, Applied Materials (AMAT) and Micron Technology (MU) are up more than +14%, and Seagate Technology Holdings Plc (STX), Advanced Micro Devices (AMD), and Intel (INTC) are up more than +12%. Finally, Marvell Technology (MRVL) is up more than +10%, and KLA Corp (KLAC) is up more than +7%.
Software stocks are tumbling today after recent sharp gains as investors rotate back into chipmakers and exit the software sector. Workday (WDAY) is down more than -9%, and Adobe Systems (ADBE), Atlassian Corp (TEAM), and Intuit (INTU) are down more than -7%. Also, ServiceNow (NOW) and Thomson Reuters (TRI) are down more than -6%, and Salesforce (CRM) is down more than -5% to lead losers in the Dow Jones Industrials. In addition, Autodesk (ADSK) is down more than -5%, and Palantir Technologies (PLTR) is down more than -2%.
Corcept Therapeutics (CORT) is up more than +29% after raising its full-year revenue forecast to $1.1 billion to $1.2 billion from a previous estimate of $950 million to $1.05 billion, stronger than the consensus of $999.6 million.
EMCOR Group (EME) is up more than +18% after reporting Q2revenue of $5.15 billion, well above the consensus of $4.71 billion, and boosting its full-year revenue forecast to $20 billion to $20.5 billion from a previous forecast of $18.5 billion to $19.25 billion, stronger than the consensus of $19 billion.
Microsoft (MSFT) is up more than +13% to lead gainers in the Dow Jones Industrials after reporting Q4 Azure and other cloud services revenue ex-forex rose +43%, better than the consensus of +39.3% and the fastest quarterly growth in four years.
Baxter International (BAX) is up more than +13% after reporting Q2 adjusted EPS of 56 cents, above the consensus of 37 cents, and forecasting full-year adjusted EPS of $1.95 to $2.15, stronger than the consensus of $1.92.
Quanta Services (PWR) is up more than +13% after reporting Q2 revenue of $9.56 billion, well above the consensus of $8.52 billion, and raising its full-year revenue forecast to $39.3 billion to $39.7 billion from a previous forecast of $34.7 billion to $35.2 billion, stronger than the consensus of $35.02 billion.
Chipotle Mexican Grill (CMG) is up more than +11% after reporting Q2 comparable sales rose +2.2%, better than the consensus of +1.33%.
Huntington Ingalls (HII) is up more than +7% after reporting Q2 sales and service revenue of $3.42 billion, well above the consensus of $3.15 billion.
Avery Dennison (AVY) is up more than +6% after reporting Q2 net sales of $2.46 billion, better than the consensus of $2.30 billion.
Alnylam Pharmaceuticals (ALNY) is down more than -27% to lead losers in the Nasdaq 100 after reporting Q2 revenue of $1.29 billion, below the consensus of $1.31 billion, and cutting its full-year product revenue forecast to $4.7 billion to $5.1 billion from a previous forecast of $4.9 billion to $5.3 billion, weaker than the consensus of $5.1 billion.
Fair Isaac (FICO) is down more than -15% to lead losers in the S&P 500 after reporting Q3 revenue of $674.2 million, weaker than the consensus of $681.8 million, and forecasting full-year revenue of $2.53 billion, below the consensus of $2.56 billion.
Crocs (CROX) is down more than -11% after forecasting Q3 adjusted EPS of $3.20 to $3.30, weaker than the consensus of $3.53.
Carvana (CVNA) is down more than -10% after forecasting full-year adjusted Ebitda of $2.7 billion to $3.0 billion, the midpoint below the consensus of $2.99 billion.
Meta Platforms (META) is down more than -8% after forecasting Q3 revenue of $61 billion to $64 billion, the midpoint below the consensus of $63.17 billion.
Norwegian Cruise Line Holdings Ltd (NCLH) is down more than -7% after cutting its annual forecasts and said bookings for the next 12 months are weak.
Earnings Reports (7/30/2026)
A O Smith Corp (AOS), Air Products and Chemicals Inc (APD), Alliant Energy Corp (LNT), Altria Group Inc (MO), Amazon.com Inc (AMZN), American Electric Power Co Inc (AEP), Apple Inc (AAPL), Arthur J Gallagher & Co (AJG), Avery Dennison Corp (AVY), Baxter International Inc (BAX), Bristol-Myers Squibb Co (BMY), Builders FirstSource Inc (BLDR), Camden Property Trust (CPT), Cigna Group/The (CI), Coinbase Global Inc (COIN), Corteva Inc (CTVA), CRH PLC (CRH), Dexcom Inc (DXCM), Edison International (EIX), EMCOR Group Inc (EME), Erie Indemnity Co (ERIE), Eversource Energy (ES), Exelon Corp (EXC), First Solar Inc (FSLR), GoDaddy Inc (GDDY), Hershey Co/The (HSY), Huntington Ingalls Industries (HII), Ingersoll Rand Inc (IR), Intercontinental Exchange Inc (ICE), International Paper Co (IP), KKR & Co Inc (KKR), Labcorp Holdings Inc (LH), Live Nation Entertainment Inc (LYV), Martin Marietta Materials Inc (MLM), Mastercard Inc (MA), Mettler-Toledo International Inc (MTD), Monolithic Power Systems Inc (MPWR), Norwegian Cruise Line Holdings (NCLH), Quanta Services Inc (PWR), Regeneron Pharmaceuticals Inc (REGN), Southern Co/The (SO), Stryker Corp (SYK), Trane Technologies PLC (TT), Valero Energy Corp (VLO), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), Xcel Energy Inc (XEL), Yum! Brands Inc (YUM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Rally on Stellar Microsoft Earnings and Chip Stock Strength

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Global Tech ETF (Symbol: IXN) where we have detected an approximate $470.7 million dollar outflow -- that's a 5.6% decrease week over week (from 66,450,000 to 62,700,000). Among the largest underlying components of IXN, in trading today International Business Machines Corp (Symbol: IBM) is down about 2.4%, Seagate Technology Holdings PLC (Symbol: STX) is up about 16%, and Salesforce Inc (Symbol: CRM) is lower by about 6.5%. For a complete list of holdings, visit the IXN Holdings page » The chart below shows the one year price performance of IXN, versus its 200 day moving average:
Looking at the chart above, IXN's low point in its 52 week range is $93.27 per share, with $149.83 as the 52 week high point — that compares with a last trade of $132.51. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further IXN Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

IXN, IBM, STX, CRM: Large Outflows Detected at ETF

In early trading on Thursday, shares of Microsoft topped the list of the day's best performing Dow Jones Industrial Average components, trading up 14.0%. Year to date, Microsoft has lost about 8.0% of its value.
And the worst performing Dow component thus far on the day is Salesforce trading down 5.0%. Salesforce is lower by about 32.4% looking at the year to date performance.
Two other components making moves today are Nike, trading down 3.9%, and Honeywell International, trading up 7.5% on the day.
VIDEO: Dow Movers: CRM, MSFT
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Dow Movers: CRM, MSFT

The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -1.52%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -2.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.06%. September E-mini S&P futures (ESU26) fell -1.59%, and September E-mini Nasdaq futures (NQU26) fell -2.23%.
Stock indexes retreated on Wednesday, with the S&P 500 sliding to a 1-month low and the Nasdaq 100 sinking to a 3-month low. Chipmakers and AI infrastructure stocks sold off on Wednesday, leading the overall market lower. Also, heightened geopolitical risks are weighing on stocks as crude prices surged, and bond yields jumped when President Trump said the US will “hit Iran hard” after a recent attack from Iran that targeted a US base in Jordan.
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Stocks whipsawed Wednesday afternoon and briefly erased their losses before selling off again into the close after the FOMC kept interest rates unchanged in a hawkish Fed hold. Three Fed members dissented in favor of a quarter-point rate hike, and Fed Chair Warsh said the Fed is committed to “deliver price stability.” The 10-year T-note yield rose +4 bp to 4.64%.
Earnings results from Microsoft and Meta Platforms after Wednesday’s close will be looked at to see whether the vast spending behind the buildout of artificial intelligence can deliver adequate returns.
The FOMC, as expected, kept the fed funds target range unchanged at 3.50% to 3.75% in a 9-3 vote, with Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan voting for a quarter-point rate hike.
The post-FOMC statement said, "Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East," adding that "productivity growth and capital investment are strong." Inflation remains elevated "in part reflecting supply shocks that have driven price increases in certain sectors, including energy."
Fed Chair Warsh said, "The economy is showing impressive resilience" even with recent shocks and policymakers "will not hesitate to act" if inflation remains elevated.
Sep WTI crude oil prices (CLU26) jumped by more than +6% on Wednesday as the recent lull in hostilities came to an abrupt end after the Islamic Revolutionary Guard Corps (IRGC) said it targeted a US airbase and command center in Jordan with ballistic missiles. The IRGC also claimed to have hit and halted three tankers attempting to transit through the Strait of Hormuz. Meanwhile, the US and Saudi Arabia launched a joint attack on "Iran-aligned terrorists" in Iraq after the IRGC directed them to target US forces and Saudi energy infrastructure.
Tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf. Also, diplomatic attempts to reopen the Strait of Hormuz appear to be at an impasse. Iranian Deputy Foreign Minister Gharibabadi said Oman's proposal for a route through the Strait of Hormuz, with 50% under Iran's control and 50% under Oman's, would not address Iran's concerns and that the inbound passage and part of the outbound channel must be entirely under Iran's control.
US MBA mortgage applications fell -6.4% in the week ended July 24, with the purchase mortgage sub-index down -3.6% and the refinancing mortgage sub-index down -9.9%. The average 30-year fixed rate mortgage rose +7 bp to an 11.5-month high of 6.76% from 6.69% the prior week.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are awaiting results from a raft of megacap technology companies this week, including Microsoft and Meta Platforms today, and Amazon.com and Apple on Thursday. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 87% of the 216 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 56% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 closed down -0.65%. China's Shanghai Composite rebounded from a 1-week low and closed up +0.40%. Japan's Nikkei-225 Stock Average fell to a 2.25-month low and closed down -1.49%.
Interest Rates
September 10-year T-notes (ZNU6) on Wednesday closed down -1 tick. The 10-year T-note yield rose +3.3 bp to 4.639%. T-notes were under pressure from Wednesday’s +6% surge in crude oil prices, which raises inflation expectations and is hawkish for Fed policy. Also, the FOMC's hawkish hold on interest rates weighed on T-note prices after three Fed members dissented in favor of a 25 bp rate hike, and Fed Chair Warsh said policymakers "will not hesitate to act" if inflation remains elevated.
European government bond yields moved higher on Wednesday. The 10-year German bund yield rose +5.6 bp to 3.160%. The 10-year UK gilt yield rose +9.2 bp to 5.036%.
The German Jun import price index eased to 6.1% y/y from 6.8% y/y in May.
The markets are discounting a 90% chance of a +25 bp ECB rate hike at their next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks fell sharply on Wednesday, weighing on the broader market. The Philadelphia Stock Exchange Semiconductor Index ($SOX) dropped to a 2.5-month low and closed down more than -5%. Nebius Group NV (NBIS) closed down more than -12% to lead losers in the Nasdaq 100, and KLA Corp (KLAC) closed down more than -10%. Also, Micron Technology (MU) closed down more than -9%, and Applied Materials (AMAT) and ARM Holdings (ARM) closed down by more than -8%. In addition, Sandisk (SNDK) and NXP Semiconductors NV (NXPI) closed down more than -7%, and Marvell Technology (MRVL) and Lam Research (LRCX) closed down more than -6%. Finally, Advanced Micro Devices (AMD), Microchip Technology (MCHP), and Intel (INTC) closed down more than -5%.
Airline stocks fell on Wednesday as crude oil prices surged. Alaska Air Group (ALK) closed down more than -5%, and Southwest Airlines (LUV) closed down more than -4%. Also, Delta Air Lines (DAL), American Airlines Group (AAL), and United Airlines Holdings (UAL) closed down more than -3%.
Trucking and freight companies were under pressure on Wednesday amid soaring crude oil prices. ArcBest (ARCB) closed down more than -5%, and FedEx Freight Holding (FDXF) closed down more than -4%. Also, Saia Inc (SAIA) closed down more than -3%, and Old Dominion Freight Line (ODFL) and XPO Inc (XPO) closed down more than -2%. In addition, Marten Transport Ltd (MRTN) closed down more than -1%.
Most software stocks rose on Wednesday as investors rotated out of chipmakers into software. Intuit (INTU) closed up more than +6%, and Adobe Systems (ADBE), Datadog (DDOG), and Workday (WDAY) closed up more than +5%. Also, Atlassian Corp (TEAM) and ServiceNow (NOW) closed up more than +4%, and Salesforce (CRM) closed up more than +3% to lead gainers in the Dow Jones Industrials. In addition, Autodesk (ADSK) closed up more than +3%, and Thomson Reuters (TRI) closed up more than +2%.
Energy producers and service providers rallied on Wednesday, as crude oil prices jumped by more than +6%. APA Corp (APA) closed up more than +5%, and Diamondback Energy (FANG) and Devon Energy (DVN) closed up more than +4%. Also, ConocoPhillips (COP) and Occidental Petroleum (OXY) closed up more than +3%, and ExxonMobil Holdings (XOM) and Chevron (CVX) closed up more than +2%.
Lennox International (LII) closed down more than -20% to lead losers in the S&P 500 after reporting Q2 net sales of $1.55 billion, weaker than the consensus of $1.56 billion.
Vertiv Holdings (VRT) closed down more than -17% after reporting Q2 net sales of $3.27 billion, below the consensus of $3.39 billion.
Masco Corp (MAS) closed down more than -11% after reporting Q2 net sales of $1.99 billion, weaker than the consensus of $2.08 billion.
Caterpillar (CAT) closed down more than -6% to lead losers in the Dow Jones industrials after Baird downgraded the stock to neutral from outperform, citing a growing trend of state and local government actions targeting data centers, a key growth driver for the company.
Avis Budget Group (CAR) closed down more than -6% after reporting Q2 EPS of 98 cents, well below the consensus of $1.91.
Humana (HUM) closed down more than -5% after it maintained its full-year profit outlook despite posting better-than-expected Q2 profit.
Garmin Ltd (GRMN) closed up more than +16% to lead gainers in the S&P 500 after reporting Q2 revenue of $2.02 billion, above the consensus of $1.92 billion, and raising its full-year revenue estimate to $8.05 billion from a previous estimate of $7.90 billion, stronger than the consensus of $7.99 billion.
GE Healthcare (GEHC) closed up more than +12% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted EPS of $1.13, better than the consensus of $1.04.
Amphenol (APH) closed up more than +4% after reporting Q2 net sales of $8.76 billion, better than the consensus of $8.31 billion.
Ford Motor (F) closed up more than +2% after raising its full-year adjusted EBIT to $10 billion to $11 billion from a previous forecast of $8.5 billion to $10.5 billion.
Earnings Reports (7/30/2026)
A O Smith Corp (AOS), Air Products and Chemicals Inc (APD), Alliant Energy Corp (LNT), Altria Group Inc (MO), Amazon.com Inc (AMZN), American Electric Power Co Inc (AEP), Apple Inc (AAPL), Arthur J Gallagher & Co (AJG), Avery Dennison Corp (AVY), Baxter International Inc (BAX), Bristol-Myers Squibb Co (BMY), Builders FirstSource Inc (BLDR), Camden Property Trust (CPT), Cigna Group/The (CI), Coinbase Global Inc (COIN), Corteva Inc (CTVA), CRH PLC (CRH), Dexcom Inc (DXCM), Edison International (EIX), EMCOR Group Inc (EME), Erie Indemnity Co (ERIE), Eversource Energy (ES), Exelon Corp (EXC), First Solar Inc (FSLR), GoDaddy Inc (GDDY), Hershey Co/The (HSY), Huntington Ingalls Industries (HII), Ingersoll Rand Inc (IR), Intercontinental Exchange Inc (ICE), International Paper Co (IP), KKR & Co Inc (KKR), Labcorp Holdings Inc (LH), Live Nation Entertainment Inc (LYV), Martin Marietta Materials Inc (MLM), Mastercard Inc (MA), Mettler-Toledo International Inc (MTD), Monolithic Power Systems Inc (MPWR), Norwegian Cruise Line Holdings (NCLH), Quanta Services Inc (PWR), Regeneron Pharmaceuticals Inc (REGN), Southern Co/The (SO), Stryker Corp (SYK), Trane Technologies PLC (TT), Valero Energy Corp (VLO), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), Xcel Energy Inc (XEL), Yum! Brands Inc (YUM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Plunge on a Rout in Chipmakers and a Hawkish Fed Hold

Accenture ACN has partnered with Radisson Hotel Group to launch an AI-powered hotel discovery app in ChatGPT, enabling travelers to move seamlessly from trip planning to hotel search, comparison and booking through natural language conversations.
Accessible as @RadissonHotels in ChatGPT, the app allows users to discover more than 1,000 Radisson Hotels properties across over 100 countries. By starting a ChatGPT conversation with @RadissonHotels, travelers can request recommendations for trips, such as family-friendly stays in Amsterdam or hotels near the Eiffel Tower in Paris that offer gym and spa facilities. The app provides relevant hotel recommendations featuring live room availability, pricing, amenities, property information, location insights and interactive maps. Once a selection is made, users are directed to the Radisson Hotels website to complete their reservation.
As more travelers rely on AI to research destinations, evaluate options and organize trips, hospitality providers are increasingly required to ensure their offerings remain discoverable, accurate and actionable during the planning stage. Accenture’s Consumer Pulse Research indicates that 87% of travelers are willing to use AI-powered travel agents to identify the most suitable options, while 71% expect AI to influence at least half of their hotel or airline spending over the next year.
The partnership began with Radisson Hotel Group adopting an MCP accelerator within Accenture’s AI Merchant Center, an agentic readiness and intelligence platform. The solution helped organize, validate and optimize the company's hotel content, inventory, pricing and booking data for AI-driven discovery. Accenture also designed the user experience and integrated the app with Radisson Hotel Group’s existing systems to deliver real-time hotel information. The companies plan to further enhance the platform with personalized recommendations, loyalty recognition, in-chat booking, reservation management, itinerary modifications and AI concierge services.
For Accenture, the collaboration reinforces its leadership in generative AI and agentic commerce while demonstrating the practical value of the AI Merchant Center platform. The project highlights Accenture’s ability to help enterprises modernize customer engagement, accelerate AI adoption and create new digital commerce channels. Successful deployment of the solution is expected to strengthen Accenture’s credentials in the hospitality sector and support future AI transformation opportunities across travel and other consumer-facing industries.
The ChatGPT app also supports Radisson Hotel Group’s broader digital transformation and direct booking strategy. Accenture has already assisted the company in modernizing the digital and data infrastructure, consolidating its brands onto a unified global platform and enabling more personalized marketing across the portfolio of more than 1,000 hotels. Extending this foundation to ChatGPT is expected to help Radisson Hotel Group remain visible, relevant and easily bookable as traveler preferences continue to evolve.
Taking a Look at Similar AI-Powered Deals
Salesforce CRM is participating in a similar hospitality-focused AI initiative with Minor Hotels, alongside Google Cloud, OneTrust and Deloitte. The companies are developing a global data and AI platform that will connect more than 640 Minor Hotels properties, unify guest information and support AI-driven personalization. Salesforce’s Agentforce Marketing capabilities are anticipated to help the hotel operator deliver more relevant communications and experiences throughout the customer journey.
Like Accenture’s collaboration with Radisson Hotel Group, the project involving Salesforce demonstrates how enterprise technology providers are helping hospitality companies modernize legacy systems, use real-time data more effectively and create increasingly personalized digital interactions for travelers.
Choice Hotels International CHH has also entered into a comparable collaboration with Amazon Web Services (“AWS”) to integrate artificial intelligence across its operations. The initiative is intended to move AI beyond isolated experiments and deploy it at an enterprise scale, supporting enhanced guest experiences, hotel management and organizational efficiency. By integrating AI into core functions such as guest personalization, pricing and operations, Choice Hotels aims to improve both customer experience and internal efficiency. Importantly, this strategy extends beyond AWS.
Choice Hotels is building a broader ecosystem of AI partnerships, including collaborations with Google for AI-powered travel discovery and participation in OpenAI’s ChatGPT advertising pilot. This multi-platform approach indicates a forward-looking strategy as travel search and booking increasingly shift toward AI-driven and conversational interfaces.
Price Performance, Valuation & Estimates
Accenture has lost nearly 40% in the past year, underperforming its industry.
1-Year Price Comparison
From a valuation standpoint, ACN trades at a forward price-to-sales ratio of 1.44, way below the industry’s 11.14.
See how the Zacks Consensus Estimate for ACN’s earnings has been revised over the past 90 days.
ACN’s Zacks Rank
ACN currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Research Chief Names "Stock Most Likely to Double"
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is ACN's Deal With Radisson for Booking App Launch a Growth Catalyst?

The S&P 500 Index ($SPX) (SPY) on Tuesday closed up +0.21%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.98%. September E-mini S&P futures (ESU26) rose +0.24%, and September E-mini Nasdaq futures (NQU26) fell -0.88%.
Stock indexes settled mixed on Tuesday, with the Dow Jones Industrials climbing to a 1.5-week high and the Nasdaq 100 falling to a 2.75-month low. Better-than-expected earnings from Boeing, Coca-Cola and Sherwin-Williams were supportive of stocks on Tuesday. Also, software stocks rose as investors rotated into sectors that had recently underperformed.
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However, the Nasdaq 100 was under pressure amid a deepening rout in chipmakers and AI-infrastructure stocks, driven by fresh concerns over artificial intelligence spending and rising competition from China. Also, the unexpected decline in US July consumer confidence weighed on market sentiment on Tuesday.
Lower crude oil prices have also eased inflation concerns and pushed bond yields lower, supporting stocks. Sep WTI crude oil prices (CLU26) fell by more than -4% on Tuesday to a 1-week low, as the US and Iran extended their pause in hostilities. The focus is now on talks between Iran and Oman over reopening the Strait of Hormuz. The 10-year T-note yield fell -5 bp to 4.60%.
However, tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf. Also, President Trump on Tuesday said that the US would “take out” Pickaxe Mountain, an Iranian facility that the US and Israel said they suspect is a nuclear site, if there wasn’t a deal. In addition, Houthi militants said they would continue striking Saudi Arabia after claiming to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi Arabia’s key crude export outlet since the Strait of Hormuz has been effectively shut off by the war.
The US May S&P composite-20 home price index rose +1.6% y/y, stronger than expectations of +1.3% y/y and the largest increase in 10 months.
The Conference Board US Jul consumer confidence index unexpectedly fell by -1.4 to 90.8, weaker than expectations of an increase to 92.4.
The US Jul Richmond Fed manufacturing survey rose +1 to 5, weaker than expectations of 6.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are awaiting results from a raft of megacap technology companies this week, including Microsoft and Meta Platforms on Wednesday, and Amazon.com and Apple on Thursday. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 170 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 30% chance of a +25 bp rate hike at the Tue/Wed FOMC meeting.
Overseas stock markets settled mixed on Tuesday. The Euro Stoxx 50 closed up +0.12%. China's Shanghai Composite closed down -1.16%. Japan's Nikkei-225 Stock Average fell to a 2-month low and closed down sharply by -3.95%.
Interest Rates
September 10-year T-notes (ZNU6) on Tuesday closed up +7.5 ticks. The 10-year T-note yield fell -4.9 bp to 4.600%. T-notes pushed higher on Tuesday as a -4% plunge in crude oil prices eased inflation expectations. The 10-year breakeven inflation rate fell to a 1-month low of 2.192% on Tuesday. T-notes also rose after US July consumer confidence unexpectedly declined. Solid demand for the Treasury’s $44 billion auction of 7-year T-notes was bullish for T-note prices, as the auction had a bid-to-cover ratio of 2.49, better than the 10-auction average of 2.47.
European government bond yields moved lower on Tuesday. The 10-year German bund yield fell to a 2-week low of 3.103% and finished down -2.9 bp to 3.104%. The 10-year UK gilt yield slid to a 1-week low of 4.944% and finished down -5.2 bp to 4.944%.
The France Jul consumer confidence survey rose +2 to a 4-month high of 86, stronger than expectations of 85.
The markets are discounting an 86% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Software stocks rallied on Tuesday, a supportive factor for the overall market. Workday (WDAY) closed up more than +8% to lead gainers in the Nasdaq 100, and Thomson Reuters (TRI) and Autodesk (ADSK) closed up more than +5%. Also, Adobe (ADBE), ServiceNow (NOW), Salesforce (CRM), and Atlassian (TEAM) closed up more than +4%, and Intuit (INTU) closed up more than +3%. In addition, Microsoft (MSFT) and Cadence Design Systems (CDNS) closed up more than +1%.
Chipmakers and AI-infrastructure stocks retreated on Tuesday, weighing on the Nasdaq 100. The iShares Semiconductor ETF (SOXX) dropped to a 2.5-month low and closed down more than -4%. Sandisk (SNDK) closed down more than -14% to lead losers in the S&P 500 and Nasdaq 100, and Advanced Micro Devices (AMD), ARM Holdings Plc (ARM), Micron Technology (MU) and Seagate Technology Holdings Plc (STX) closed down more than -8%. Also, Applied Materials (AMAT), Marvell Technology (MRVL), and Lam Research (LRCX) closed down more than -7%, and KLA Corp (KLAC) and Western Digital (WDC) closed down more than -6%. In addition, Intel (INTC) closed down more than -5%, and Qualcomm (QCOM) closed down more than -4%.
Cryptocurrency-exposed stocks moved lower on Tuesday after Bitcoin (^BTCUSD) fell more than -1% to a 1-week low. Galaxy Digital Holdings (GLXY) closed down more than -9%, and MARA Holdings (MARA) closed down more than -4%. Also, Strategy (MSTR), Riot Platforms (RIOT), and Circle Internet Group (CRCL) closed down more than -2%, and Coinbase Global (COIN) closed down -0.39%.
IQVIA Holdings (IQV) closed up more than +13% to lead gainers in the S&P 500 after boosting its full-year revenue forecast to $17.28 billion to $17.48 billion from a previous forecast of $17.15 billion to $17.35 billion, stronger than the consensus of $17.28 billion.
Sherwin-Williams (SHW) closed up more than +8% to lead gainers in the Dow Jones Industrials after reporting adjusted EPS of $3.70, better than the consensus of $3.51, and raising its full-year adjusted EPS forecast to $11.80 to $12.20 from a previous forecast of $11.50 to $11.90, above the consensus of $11.76.
Nucor (NUE) closed up more than +7% after reporting Q2 net sales of $10.40 billion, above the consensus of $10.03 billion.
Coca-Cola (KO) closed up +5% after raising its full-year comparable EPS forecast to +9% to +10% from a previous view of +8% to +9%.
Boeing (BA) closed up more than +4% after reporting Q2 revenue of $24.56 billion, stronger than the consensus of $24.26 billion.
Amkor Technology (AMKR) closed down more than -24% after forecasting Q3 net sales of $1.95 billion to $2.05 billion, weaker than the consensus of $2.11 billion.
Corning (GLW) closed down more than -12% after forecasting Q3 core sales of $4.9 billion to $5.0 billion, the midpoint below the consensus of $5.0 billion.
Noble Corp. (NE) closed down more than -9% after cutting its full-year adjusted Ebitda estimate to $850 million to $925 million from a previous forecast of $940 million to $1.02 billion, below the consensus of $970.3 million.
Carrier Global (CARR) closed down more than -8% after reporting Q2 gross margin of 27.2%, below the consensus of 28.1%.
RXO Inc (RXO) closed down more than -6% after TD Cowen downgraded the stock to sell from hold with a price target of $19.
Earnings Reports (7/29/2026)
Align Technology Inc (ALGN), American Water Works Co Inc (AWK), Amphenol Corp (APH), Aon PLC (AON), Automatic Data Processing Inc (ADP), Biogen Inc (BIIB), Boston Scientific Corp (BSX), Bunge Global SA (BG), Carvana Co (CVNA), CBRE Group Inc (CBRE), CH Robinson Worldwide Inc (CHRW), Chipotle Mexican Grill Inc (CMG), Cognizant Technology Solutions (CTSH), Electronic Arts Inc (EA), Entergy Corp (ETR), Equinix Inc (EQIX), Essex Property Trust Inc (ESS), Everest Group Ltd (EG), Fair Isaac Corp (FICO), Flex Ltd (FLEX), Fortinet Inc (FTNT), Fortive Corp (FTV), Garmin Ltd (GRMN), GE HealthCare Technologies Inc (GEHC), Generac Holdings Inc (GNRC), General Dynamics Corp (GD), Humana Inc (HUM), IDEX Corp (IEX), Invitation Homes Inc (INVH), Johnson Controls International (JCI), L3Harris Technologies Inc (LHX), Lam Research Corp (LRCX), Lennox International Inc (LII), Masco Corp (MAS), Meta Platforms Inc (META), MGM Resorts International (MGM), Microsoft Corp (MSFT), Mid-America Apartment Communities (MAA), Old Dominion Freight Line Inc (ODFL), O'Reilly Automotive Inc (ORLY), Procter & Gamble Co/The (PG), PTC Inc (PTC), Public Storage (PSA), QUALCOMM Inc (QCOM), Regency Centers Corp (REG), Robinhood Markets Inc (HOOD), Smurfit Westrock PLC (SW), Stanley Black & Decker Inc (SWK), Starbucks Corp (SBUX), Tyler Technologies Inc (TYL), Ventas Inc (VTR), Verisk Analytics Inc (VRSK), Vertiv Holdings Co (VRT), VICI Properties Inc (VICI), Vulcan Materials Co (VMC), Waste Management Inc (WM), WEC Energy Group Inc (WEC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Mostly Higher on Positive Earnings Results

The S&P 500 Index ($SPX) (SPY) today is up +0.05%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.738%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.12%. September E-mini S&P futures (ESU26) are up +0.05%, and September E-mini Nasdaq futures (NQU26) are down -1.20%.
Stock indexes are mixed today, with the Dow Jones Industrials climbing to a 1.5-week high and the Nasdaq 100 falling to a 2.75-month low. Better-than-expected earnings from Coca-Cola and Sherwin-Williams are supportive of stocks today. However, the Nasdaq 100 is under pressure today amid a deepening rout in chipmakers and AI-infrastructure stocks, driven by fresh concerns over artificial intelligence spending and rising competition from China. Also, the unexpected decline in US July consumer confidence is weighing on market sentiment today. Losses in stock indexes are limited as investors rotate into sectors that tend to generate relatively stable revenue regardless of the economic cycle.
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Lower crude oil prices have also eased inflation concerns and are pushing bond yields lower, supporting stocks. Sep WTI crude oil prices (CLU26) are down by more than -1% today to a 1-week low, as the US and Iran extended their pause in hostilities. The focus is now on talks between Iran and Oman over reopening the Strait of Hormuz. The 10-year T-note yield is down -4 bp to 4.61%.
However, tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf and President Trump raised the possibility of intensified action against Iran. Also, Houthi militants in Yemen claimed to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi’s key crude export outlet since the Strait of Hormuz has effectively been shut off by the war. Jizan is home to a refinery and export terminal along the Red Sea.
The US May S&P composite-20 home price index rose +1.6% y/y, stronger than expectations of +1.3% y/y and the largest increase in 10 months.
The Conference Board US Jul consumer confidence index unexpectedly fell by -1.4 to 90.8, weaker than expectations of an increase to 92.4.
The US Jul Richmond Fed manufacturing survey rose +1 to 5, weaker than expectations of 6.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are waiting for results from a raft of megacap technology companies this week, including Amazon.com, Meta Platforms, and Microsoft. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 145 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 30% chance of a +25 bp rate hike at the Tue/Wed FOMC meeting.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.06%. China's Shanghai Composite closed down -1.16%. Japan's Nikkei-225 Stock Average fell to a 2-month low and closed down sharply by -3.95%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +6 ticks. The 10-year T-note yield is down -3.4 bp to 4.614%. T-notes are climbing today as a -1% fall in crude oil prices eases inflation expectations. The 10-year breakeven inflation rate fell to a 1-month low of 2.192% today. Also, short covering ahead of the 2-day FOMC meeting that begins today is supporting T-note prices. T-notes raced to their highs today after US July consumer confidence unexpectedly declined. Supply pressures are limiting gains in T-notes as the Treasury will auction $44 billion of 7-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield fell to a 2-week low of 3.106% and is down -0.7 bp to 3.126%. The 10-year UK gilt yield slid to a 1-week low of 4.945% and is down -2.9 bp to 4.968%.
The France Jul consumer confidence survey rose +2 to a 4-month high of 86, stronger than expectations of 85.
The markets are discounting an 88% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are falling today, weighing on the broader market. The iShares Semiconductor ETF (SOXX) dropped to a 2.5-month low and is down more than -5%. Sandisk (SNDK) is down more than -14% to lead losers in the Nasdaq 100, and Western Digital (WDC) is down more than -13%. Also, Seagate Technology Holdings Plc (STX) is down more than -11%, and Micron Technology (MU) and Lam Research (LRCX) are down more than -9%. In addition, Advanced Micro Devices (AMD), ARM Holdings Plc (ARM), Applied Materials (AMAT), and Marvell Technology (MRVL) are down more than -8%, and Intel (INTC) and KLA Corp (KLAC) are down more than -6%.
Cryptocurrency-exposed stocks are moving lower today, with Bitcoin (^BTCUSD) down more than -2% at a 1-week low. Galaxy Digital Holdings (GLXY) is down more than -8%, and MARA Holdings (MARA) is down more than -5%. Also, Riot Platforms (RIOT) is down more than -4%, and Circle Internet Group (CRCL) is down more than -3%. In addition, Coinbase Global (COIN) and Strategy (MSTR) are down more than -1%.
Software stocks are mostly higher today, a supportive factor for the overall market. Workday (WDAY) is up more than +7% to lead gainers in the Nasdaq 100, and Thomson Reuters (TRI) is up more than +6%. Also, Autodesk (ADSK) is up more than +5%, and Adobe (ADBE), Intuit (INTU), ServiceNow (NOW), and Salesforce (CRM) are up more than +4%. In addition, Atlassian (TEAM) is up more than +2%, and Microsoft (MSFT) and Cadence Design Systems (CDNS) are up more than +1%.
Amkor Technology (AMKR) is down more than -22% after forecasting Q3 net sales of $1.95 billion to $2.05 billion, weaker than the consensus of $2.11 billion.
Corning (GLW) is down more than -18% to lead losers in the S&P 500 after forecasting Q3 core sales of $4.9 billion to $5.0 billion, the midpoint below the consensus of $5.0 billion.
Noble Corp. (NE) is down more than -7% after cutting its full-year adjusted Ebitda estimate to $850 million to $925 million from a previous forecast of $940 million to $1.02 billion, below the consensus of $970.3 million.
RXO Inc (RXO) is down more than -6% after TD Cowen downgraded the stock to sell from hold with a price target of $19.
IQVIA Holdings (IQV) is up more than +12% to lead gainers in the S&P 500 after boosting its full-year revenue forecast to $17.28 billion to $17.48 billion from a previous forecast of $17.15 billion to $17.35 billion, stronger than the consensus of $17.28 billion.
Sherwin-Williams (SHW) is up more than +7% to lead gainers in the Dow Jones Industrials after reporting adjusted EPS of $3.70, better than the consensus of $3.51, and raising its full-year adjusted EPS forecast to $11.80 to $12.20 from a previous forecast of $11.50 to $11.90, above the consensus of $11.76.
Coca-Cola (KO) is up more than +6% after raising its full-year comparable EPS forecast to up +9% to +10% from a previous view of +8% to +9%.
Nucor (NUE) is up more than +4% after reporting Q2 net sales of $10.40 billion, above the consensus of $10.03 billion.
Intuitive Surgical (ISRG) is up more than +2% after UBS upgraded the stock to buy from hold with a price target of $500.
Earnings Reports (7/28/2026)
American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Armstrong World Industries Inc (AWI), Avis Budget Group Inc (CAR), Axalta Coating Systems Ltd (AXTA), Axis Capital Holdings Ltd (AXS), Bloom Energy Corp (BE), Boeing Co/The (BA), BXP Inc (BXP), Caesars Entertainment Inc (CZR), Carrier Global Corp (CARR), Centene Corp (CNC), CenterPoint Energy Inc (CNP), Chemed Corp (CHE), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Crane Co (CR), DTE Energy Co (DTE), Ecolab Inc (ECL), Enphase Energy Inc (ENPH), ExlService Holdings Inc (EXLS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), FirstEnergy Corp (FE), Ford Motor Co (F), HF Sinclair Corp (DINO), Hilton Worldwide Holdings Inc (HLT), Hubbell Inc (HUBB), Illinois Tool Works Inc (ITW), Incyte Corp (INCY), Invesco Ltd (IVZ), IQVIA Holdings Inc (IQV), KLA Corp (KLAC), Landstar System Inc (LSTR), Liberty Live Holdings Inc (LLYVA), Manhattan Associates Inc (MANH), Mondelez International Inc (MDLZ), NOV Inc (NOV), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), Oshkosh Corp (OSK), PACCAR Inc (PCAR), PayPal Holdings Inc (PYPL), Pentair PLC (PNR), PPG Industries Inc (PPG), Qorvo Inc (QRVO), Repligen Corp (RGEN), Rithm Capital Corp (RITM), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Skyworks Solutions Inc (SWKS), STAG Industrial Inc (STAG), Teradyne Inc (TER), Textron Inc (TXT), TransUnion (TRU), United Parcel Service Inc (UPS), Unum Group (UNM), Veralto Corp (VLTO), Visa Inc (V), WP Carey Inc (WPC), Xylem Inc/NY (XYL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed on Earnings Results and Weakness in Chipmakers

SAP SE SAP is tying cloud ERP migration to embedded AI, enterprise data and workflow automation. The strategy is meant to move customers from legacy systems into a cleaner cloud model that can support more autonomous business processes.
The investor debate is straightforward. Cloud and AI demand are improving SAP’s growth profile, but software license and services revenues are still declining as the business model shifts.
SAP Builds Around the Autonomous Enterprise
SAP’s AI strategy centers on the Autonomous Suite and Business AI Platform. The company is embedding AI across finance, procurement, supply chain, human resources and customer operations, using enterprise applications as the operating layer.
Joule Studio forms the build layer for creating and extending AI agents. SAP Business Data Cloud supplies business context, while the run-and-govern layer helps customers deploy, manage and govern agents at scale.
SAP Business Data Cloud Gains Early Traction
SAP Business Data Cloud generated approximately €2 billion in total contract value within its first year. That early adoption supports the case that customers want AI tied to governed enterprise data, not disconnected models.
More than 90% of SAP’s 50 largest second-quarter deals included AI and SAP Business Data Cloud. That mix gives management confidence in second-half demand as Business AI reaches more customers.
SAP Cash Flow Funds Innovation and Buybacks
SAP reaffirmed its expectation for approximately €10 billion in 2026 free cash flow. That cash generation gives the company room to invest in product innovation, acquisitions and business development while navigating the cloud transition.
Image Source: Zacks Investment Research
Capital returns remain part of the story. SAP announced a €10 billion share repurchase program running through the end of 2027, and as of June 30, had repurchased more than 16.28 million shares for approximately €2.6 billion.
SAP Faces Migration and Execution Risks
The shift away from legacy software still has costs. Second-quarter software license revenues declined 32% year over year to €0.13 billion; services revenues fell 3% to €1 billion and cloud backlog growth is expected to moderate as the business scales.
Acquisition-related dilution also tempers the outlook. SAP expects Dremio and Prior Labs to reduce 2026 operating profit by more than €100 million, while competition remains intense from providers such as Oracle Corporation ORCL, which also embeds AI agents into cloud applications.
Regulated enterprise deals can take longer to negotiate, deploy and ramp. Salesforce, Inc. CRM, through Agentforce, adds another competitive reference point in enterprise AI, particularly where customers evaluate agent platforms tied to workflow automation.
Geopolitical uncertainty, cybersecurity exposure, pricing pressure and changing customer budgets remain risks. SAP also noted that its outlook assumes a near-term de-escalation of tensions in the Middle East.
SAP Signals Point to a Cautious Near-Term View
SAP’s long-term growth case rests on a clear shift toward cloud ERP, trusted data and AI-enabled workflows. The near-term stock setup is less supportive because estimated momentum and share-price timing remain weak.
SAP currently carries a Zacks Rank #4 (Sell), which points to an unfavorable one-to-three-month earnings outlook. Its Value Score of D, Growth Score of C, Momentum Score of F and VGM Score of D reinforce a selective stance. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The scores do not erase SAP’s cloud and AI progress. They do suggest investors should separate long-term platform potential from weaker current valuation, momentum and estimate-revision signals.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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Salesforce, Inc. (CRM) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

How SAP's AI and Cloud Strategy Is Reshaping Its Growth Outlook Now

The S&P 500 Index ($SPX) (SPY) today is down -0.22%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.68%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.50%. September E-mini S&P futures (ESU26) are down -0.29%, and September E-mini Nasdaq futures (NQU26) are down -1.56%.
Stock indexes are mixed today, with the Dow Jones Industrials posting a 1.5-week high and the Nasdaq 100 falling to a 2.75-month low. Better-than-expected earnings from Coca-Cola and Sherwin-Williams are supportive of stocks today. However, the Nasdaq 100 is under pressure today amid a deepening rout in chipmakers and AI-infrastructure stocks, driven by fresh concerns over artificial intelligence spending and rising competition from China. Also, losses in stock indexes are limited as investors rotate into other sectors of the market that tend to generate relatively stable revenues regardless of the economic cycle.
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Lower crude oil prices have also eased inflation concerns and are pushing bond yields lower, supporting stocks. Sep WTI crude oil prices (CLU26) are down by more than 1% today to a 1-week low, as the US and Iran extended their pause in hostilities. The focus is now on talks between Iran and Oman over reopening the Strait of Hormuz. The 10-year T-note yield is down -2 bp to 4.63%
However, tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf and President Trump raised the possibility of intensified action against Iran. Also, Houthi militants in Yemen claimed to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi’s key crude export outlet since the Strait of Hormuz has effectively been shut off by the war. Jizan is home to a refinery and export terminal along the Red Sea.
The US May S&P composite-20 home price index rose +1.6% y/y, stronger than expectations of +1.3% y/y and the largest increase in 10 months.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are waiting for results from a raft of megacap technology companies this week, including Amazon.com, Meta Platforms, and Microsoft. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 135 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 32% chance of a +25 bp rate hike at the next FOMC meeting on Tue/Wed.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.37%. China's Shanghai Composite closed down -1.16%. Japan's Nikkei-225 Stock Average fell to a 2-month low and closed down sharply by -3.95%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +4 ticks. The 10-year T-note yield is down -2.2 bp to 4.626%. T-notes are climbing today as a -1% fall in crude oil prices eases inflation expectations. The 10-year breakeven inflation rate fell to a 1-month low of 2.192% today. Also, short covering ahead of the 2-day FOMC meeting that begins today is supporting T-note prices. Supply pressures are limiting gains in T-notes as the Treasury will auction $44 billion of 7-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield fell to a 2-week low of 3.106% and is down -0.4 bp to 3.129%. The 10-year UK gilt yield slid to a 1-week low of 4.945% and is down -2.7 bp to 4.970%.
The France Jul consumer confidence survey rose +2 to a 4-month high of 86, stronger than expectations of 85.
The markets are discounting an 88% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are falling today, weighing on the broader market. The iShares Semiconductor ETF (SOXX) dropped to a 2.25-month low and is down more than -5%. Western Digital (WDC) is down more than -13% to lead losers in the Nasdaq 100, and Seagate Technology Holdings Plc (STX) is down more than -12%. Also, Micron Technology (MU) and Marvell Technology (MRVL) are down more than -9%, and Advanced Micro Devices (AMD), ARM Holdings Plc (ARM), and Lam Research (LRCX) are down more than -8%. In addition, Applied Materials (AMAT) and Intel (INTC) are down more than -7%, and KLA Corp (KLAC) is down more than -6%.
Cryptocurrency-exposed stocks are moving lower today, with Bitcoin (^BTCUSD) down more than -3% at a 1-week low. Galaxy Digital Holdings (GLXY) is down more than -9%, and MARA Holdings (MARA) and Riot Platforms (RIOT) are down more than -7%. Also, Circle Internet Group (CRCL) is down more than -6%, and Coinbase Global (COIN) and Strategy (MSTR) are down more than -4%.
Software stocks are mostly higher today, a supportive factor for the overall market. Autodesk (ADSK), Thomson Reuters (TRI), and Workday (WDAY) are up more than +4%, and Adobe (ADBE), Intuit (INTU), and Salesforce (CRM) closed up more than +3%. Also, Microsoft (MSFT), ServiceNow (NOW), Atlassian (TEAM), and Cadence Design Systems (CDNS) are up more than +1%.
Amkor Technology (AMKR) is down more than -21% after forecasting Q3 net sales of $1.95 billion to $2.05 billion, weaker than the consensus of $2.11 billion.
Corning (GLW) is down more than -18% to lead losers in the S&P 500 after forecasting Q3 core sales of $4.9 billion to $5.0 billion, the midpoint below the consensus of $5.0 billion.
Noble Corp. (NE) is down more than -5% after cutting its full-year adjusted Ebitda estimate to $850 million to $925 million from a previous forecast of $940 million to $1.02 billion, below the consensus of $970.3 million.
RXO Inc (RXO) is down more than -5% after TD Cowen downgraded the stock to sell from hold with a price target of $19.
IQVIA Holdings (IQV) is up more than +14% to lead gainers in the S&P 500 after boosting its full-year revenue forecast to $17.28 billion to $17.48 billion from a previous forecast of $17.15 billion to $17.35 billion, stronger than the consensus of $17.28 billion.
Sherwin-Williams (SHW) is up more than +6% to lead gainers in the Dow Jones Industrials after reporting adjusted EPS of $3.70, better than the consensus of $3.51, and raising its full-year adjusted EPS forecast to $11.80 to $12.20 from a previous forecast of $11.50 to $11.90, above the consensus of $11.76.
Coca-Cola (KO) is up more than +6% after raising its full-year comparable EPS forecast to up +9% to +10% from a previous view of +8% to +9%.
Nucor (NUE) is up more than +5% after reporting Q2 net sales of $10.40 billion, above the consensus of $10.03 billion.
Intuitive Surgical (ISRG) is up more than +4% after UBS upgraded the stock to buy from hold with a price target of $500.
Earnings Reports (7/28/2026)
American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Armstrong World Industries Inc (AWI), Avis Budget Group Inc (CAR), Axalta Coating Systems Ltd (AXTA), Axis Capital Holdings Ltd (AXS), Bloom Energy Corp (BE), Boeing Co/The (BA), BXP Inc (BXP), Caesars Entertainment Inc (CZR), Carrier Global Corp (CARR), Centene Corp (CNC), CenterPoint Energy Inc (CNP), Chemed Corp (CHE), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Crane Co (CR), DTE Energy Co (DTE), Ecolab Inc (ECL), Enphase Energy Inc (ENPH), ExlService Holdings Inc (EXLS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), FirstEnergy Corp (FE), Ford Motor Co (F), HF Sinclair Corp (DINO), Hilton Worldwide Holdings Inc (HLT), Hubbell Inc (HUBB), Illinois Tool Works Inc (ITW), Incyte Corp (INCY), Invesco Ltd (IVZ), IQVIA Holdings Inc (IQV), KLA Corp (KLAC), Landstar System Inc (LSTR), Liberty Live Holdings Inc (LLYVA), Manhattan Associates Inc (MANH), Mondelez International Inc (MDLZ), NOV Inc (NOV), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), Oshkosh Corp (OSK), PACCAR Inc (PCAR), PayPal Holdings Inc (PYPL), Pentair PLC (PNR), PPG Industries Inc (PPG), Qorvo Inc (QRVO), Repligen Corp (RGEN), Rithm Capital Corp (RITM), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Skyworks Solutions Inc (SWKS), STAG Industrial Inc (STAG), Teradyne Inc (TER), Textron Inc (TXT), TransUnion (TRU), United Parcel Service Inc (UPS), Unum Group (UNM), Veralto Corp (VLTO), Visa Inc (V), WP Carey Inc (WPC), Xylem Inc/NY (XYL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Periodand min./max. price, $	Price change, %		Volatility, %		Volume, $
Periodand min./max. price, $	CRM	Industry	CRM	Industry	Volume, $
Yesterday 159.6 - 164.5	15.59	8.29	7.50	2.13	1.31B
Week 155.1 - 175.4	10.44	4.89	4.22	4.84	6.96B
Month 151.5 - 175.4	22.38	1.23	8.69	11.67	26.78B
3 Months 146.3 - 211.3	4.00	25.79	16.23	23.27	98.98B
6 Months 146.3 - 235.7	-20.07	44.39	23.00	31.82	203.53B
Year 146.3 - 274.0	-30.83	45.07	40.29	54.72	369.85B
3 years 146.3 - 369.0	-18.70	35.63	61.94	89.43	843.26B
5 years 126.3 - 369.0	-25.01	30.55	84.14	115.83	1.25T
All time 2.3 - 318.7	7,542.16	68.46	—	—	1.04T

Salesforce, Inc.

Price and volatility history

Risk ratios