Dick's Sporting Goods shares fell over 27% after reporting sales of $5.59 billion, missing analyst expectations of $5.65 billion, and citing a challenging footwear market. This decline marks a potential record low for the stock.
In contrast, Dynatrace's shares rose 3% following an upgrade to overweight by Morgan Stanley, which anticipates at least 20% growth and margin expansion in the coming years. Shift4 Payments gained nearly 4% after Wells Fargo upgraded its rating, highlighting improved prospects post-second quarter.
Moderna's stock surged 13% as Wolfe Research upgraded it to peer perform, driven by positive trial results for a cancer vaccine in collaboration with Merck. Marvell Technology's shares increased by 5% after price target upgrades from Susquehanna and Rosenblatt, with expectations of strong earnings ahead.
Advanced Micro Devices also saw a 5% rise following an upgrade to strong buy by Raymond James, which set a price target suggesting a 40% upside. The semiconductor sector as a whole performed well, with notable gains from Intel and Nvidia, while Kura Oncology climbed nearly 10% after its CEO purchased shares.
Navitas Semiconductor shares jumped 5% due to a significant deal with Claros valued at $232.8 million