Genuine Parts' shares fell nearly 3% after management clarified that there are no ongoing acquisition talks, countering earlier speculation about interest from O'Reilly Automotive, which saw its shares rise nearly 4%. Equifax's stock dropped 7% following disappointing third-quarter guidance, projecting adjusted earnings of $2.15 to $2.25 per share against a consensus expectation of $2.26.
In contrast, memory chip stocks surged ahead of anticipated tech reports, with the Roundhill Memory ETF increasing by 11% and major players like Micron Technology and Western Digital rising about 12%. Cryptocurrency-related stocks also gained, with Coinbase up almost 12% and Robinhood rising 9%, as Bitcoin reached its highest level since June.
Hasbro's shares increased 7% after it reported better-than-expected earnings, driven by strong sales of its 'Magic: The Gathering' card game. MSCI's shares fell 9% after reporting weaker-than-expected results, while Novartis saw a 2% rise following positive earnings. General Motors' shares gained over 5% after reporting adjusted earnings of $3.57 per share, surpassing analyst expectations.
Danaher’s stock tumbled 13% after it lowered its revenue growth forecast despite beating second-quarter estimates.
Utz Brands soared nearly 90% after announcing a buyout agreement, while Nebius Group rallied 15% following Nvidia's investment. 3M's stock jumped over 8% after exceeding earnings expectations and raising its guidance, and Taiwan Semiconductor Manufacturing's shares rose almost 5% on news of potential price increases for chipmaking services.
Crown Holdings and Steel Dynamics also posted gains after reporting strong earnings, despite Steel Dynamics facing a non-cash impairment charge. Overall, the trading day reflected a mix of optimism and caution across various sectors, influenced by earnings reports and market speculation