Shares of Steel Dynamics and Nucor both dropped over 1.5% after they provided third-quarter earnings guidance that did not meet analysts' expectations, according to FactSet. Nucor indicated that while earnings in its steel mills and products segments are expected to rise, a decline is anticipated in its raw materials segment.
Netflix's stock fell more than 3% following a downgrade by Wells Fargo to underweight, with analysts citing concerning engagement trends and a lack of strong content expected for the latter half of 2026, which could hinder margin growth in 2027 and 2028.
Xenon Pharmaceuticals experienced a significant 25% decline after announcing a temporary pause in patient enrollment for its clinical studies on treatments for major and bipolar depression due to the identification of neuropsychiatric side effects.
Conversely, cryptocurrency-related stocks saw gains as bitcoin prices surged back above $78,000, with Robinhood and Coinbase rising 2.5% and 1%, respectively, and Strategy increasing by 3%.
Additionally, Macom Technology Solutions' stock rose 3% after BMO Capital Markets upgraded it to outperform, noting that its valuation has become appealing following a more than 35% drop from its 2026 highs, despite strong fundamentals in its data center, industrial, and defense sectors