Stock Market Today: Major Indexes Finish Mixed; Dow Extends Rally; SpaceX, AMD Shares Weigh on Nasdaq

Insulet Shares Nosedive on Slashed Revenue Guidance

FROM 1 hr 2 min ago

Insulet shareholders are selling the stock today.

Shares of Insulet (PODD) are down 20% to lead S&P 500 decliners Wednesday after the medical devices maker cut its full-year forecast for U.S. Omnipod revenue.

The Acton, Mass.-based firm now sees fiscal 2026 U.S. Omnipod revenue rising 17% to 19% year-over-year, down from its prior forecast of 20% to 11%. Overall revenue for Omnipod, its tubeless insulin pump brand, is now seen up about 20% to 22%, down from the previous range of 21% to 23%.

“While we are updating our outlook to reflect what we’re learning as we scale in type 2, our conviction in the long-term opportunity remains unchanged,” CEO Ashley McEvoy said

Insulet’s second-quarter profit and revenue topped Visible Alpha consensus estimates.

With today’s plunge, Insulet shares have lost more than half their value this year.

Alphabet Shares Fall Amid Google AI Leadership Reshuffling

FROM 2 hr 52 min ago

Shareholders are not taking too kindly to Alphabet’s AI leadership changes.

Shares of Alphabet (GOOGL) are down 3.5% to lead Dow decliners Wednesday after CEO Sundar Pichai announced several moves in a blog post.

Chief Scientist Jeff Dean, a 27-year employee, and Google Senior Fellow Sanjay Ghemawat are leaving to launch “an independent public benefit corporation to accelerate discoveries in ML, science, and engineering,” Pichai wrote. Google will invest in the startup.

Meanwhile, Demis Hassabis, who has served as CEO of Google Deep Mind, will now become the unit’s Chair, as well as Chief Scientist of Alphabet.

“I’ve decided that now is the right time for me to hand over my day-to-day operational responsibilities at GDM, so that I have the time and space to focus on the big picture and help influence what is to come to the best of my ability,” Hassabis wrote.

Koray Kavukcuoglu, currently Google DeepMind’s technology chief and Google’s Chief AI Architect, will become the unit’s SVP and “oversee Gemini model development, Frontier AI research, and the Gemini app and developer teams,” Pichai wrote.

The company has yet to release its highly anticipated Gemini 3.5 Pro next-generation frontier model, and did not give an update on its second-quarter earnings call two weeks ago.

“The Gemini models are in good hands with Koray and the leads, as they have been for a while, and I’m excited about the great progress we’re making with our new models including Gemini 4,” Hassabis wrote.

Despite today’s pullback, Alphabet shares are up about 16% this year.

CORRECTION—This blog post has been updated to fix the spelling of Demis Hassabis’s last name.

Sandisk and Western Digital Are Set to Report Earnings Soon. Here’s What to Expect

FROM 3 hr 32 min ago

Sandisk and Western Digital are both slated to report earnings after the closing bell Wednesday, in what could be an opportunity for the companies to rekindle investors’ enthusiasm for their stocks.

Through Tuesday’s close, shares of Sandisk (SNDK) and Western Digital (WDC) have slipped 39% and 31%, respectively, from their June highs amid a broader pullback in the AI trade in recent weeks. Still, both remain among the S&P 500’s top performers for 2026, with Western Digital shares more than tripling in value since the year began, while Sandisk shares are up some 500%. The benchmark index has climbed 13% over the same period.

Data storage and memory makers were some of the hottest stocks in the first half of the year, as the AI boom drove up demand. Sandisk, Western Digital, and others were also able to hike prices in the face of industrywide shortages, boosting their sales and profits to record levels. Western Digital used to own Sandisk, acquiring the company in 2016 before announcing plans to spin off the flash memory business in late 2023, with Sandisk returning to the public markets early last year.

Morgan Stanley analysts recently wrote that they see demand for Sandisk’s hardware as “unequivocally strong, and durable,” with some data center customers concerned demand could continue to outpace supply for the next two years. The analysts also said they expect a strong beat and raised outlook from Western Digital, writing that the results could be “an important catalyst to reignite confidence in the [hard disk drive] bull case, and help to reinforce confidence in the broader AI infrastructure spending cycle.” 

Read the full article here.

–Aaron McDade

Nvidia Stock Is on the Rise, After Elon Musk Says SpaceX Will ‘Exclusively’ Use Its Chips

FROM 4 hr 20 min ago

Nvidia shares are getting a lift after some encouraging comments from SpaceX and Tesla CEO Elon Musk.

Musk said in SpaceX’s (SPCX) first earnings call as a public company yesterday that the company will only buy Nvidia (NVDA) chips for the foreseeable future to run its AI products. Nvidia shares were up 4% in recent trading, on track to log their fifth straight day of gains, while SpaceX shares slid 6%.

“We’ve decided to build exclusively on Nvidia because we think the Vera Rubin architecture is the best architecture,” Musk said, per an AlphaSense transcript. “We think it’s the best AI computer and we greatly value our close cooperation and partnership on many levels with Nvidia.”

When asked on the call about the amount of hardware SpaceX is securing to bring more AI computing capacity online over the next year, Musk said SpaceX anticipates receiving “a very significant percent” of the GPUs made by Nvidia next year.

Musk’s companies have used Nvidia hardware for years, and the CEO has at times rerouted chips reserved for Tesla (TSLA) to X and xAI, which are both now part of SpaceX. He has previously said that as long as Nvidia continues to make chips better than what his companies can produce internally, they will remain an Nvidia customer. That could change in the future, as Tesla and SpaceX are planning to build a jointly owned factory to make their own AI chips.

With Wednesday’s gains, Nvidia shares are up 17% since the start of the year, but still about 7% off their May highs.

–Aaron McDade

Booking Holdings Stock Surges on Better-Than-Expected Results Despite Middle East ‘Volatility’

FROM 5 hr 44 min ago

Booking Holdings overcame what its chief executive called “near-term volatility” in the second quarter.

Shares of Booking Holdings (BKNG) are surging 6% Wednesday after the online travel company’s quarterly profit, revenue, and gross bookings all exceeded analysts’ estimates.

After markets closed Tuesday, Booking Holdings—the Norwalk, Conn.-based parent of travel brands Booking.com, Priceline, and KAYAK, as well as restaurant-booking platform OpenTable—reported adjusted earnings of $2.54 per share on revenue that increased 8% year-over-year to $7.35 billion. Analysts surveyed by Visible Alpha had expected $2.41 per share and $7.19 billion, respectively. Gross bookings were $51.0 billion, while analysts were looking for $49.4 billion.

“The world remains an uncertain place, with the Middle East conflict and related macroeconomic developments continuing to affect travel demand, both directly and indirectly, through the impact on major Middle East transit corridors and higher travel costs. These dynamics create near-term volatility,” Booking Holdings CEO Glenn Fogel said in prepared remarks. “Yet, we know from decades of experience that the underlying desire to explore, connect, and experience the world is remarkably resilient, and travel demand recovers once the underlying disruption subsides.”

Fogel noted that “this resiliency was clearly evident during the second quarter.” He added that “while long-haul international travel remained pressured by elevated airline prices and reduced capacity due to the conflict in the Middle East, domestic and intra-regional travel remained relatively healthy across many parts of the world.”

Despite today’s surge, shares remain down about 3% this year.

Disney Tops Profit Estimates and Unveils TikTok Partnership to Bring More Videos to Disney+

FROM 6 hr 44 min ago

Disney stock is on the rise after the entertainment giant beat profit estimates and announced a new partnership with TikTok.

Shares of The Walt Disney Company (DIS) were up 3% in recent trading, making it one of the leading gainers on the Dow, after the company posted strong quarterly profits. Disney reported adjusted earnings of $2.06 per share for its fiscal third quarter, topping the $1.84 Visible Alpha consensus. Its revenue rose 7% year-over-year to $25.25 billion, slightly below the $25.41 billion analysts had forecast.

Disney credited global growth in its Experiences segment, the successful theatrical and merchandise release of “Toy Story 5,” and strong ESPN viewership numbers during the NBA playoffs as factors that helped expand its reach during the quarter. Revenue grew across all three of Disney’s segments, with 6% growth in Entertainment, a 4% bump in Sports, and a 10% jump in Experiences.

Also on Wednesday, Disney announced a new partnership with TikTok, giving creators on the platform “access to assets related to hundreds of films and series,” with short-form videos from TikTok also living on the Disney+ app. The deal comes after Disney previously had an agreement with OpenAI to bring AI-generated videos from its Sora app to Disney+, only for that deal to fall apart when OpenAI decided to shutter the costly Sora service months later. 

Wednesday’s report was Disney’s second with new CEO Josh D’Amaro leading the company after he succeeded Bob Iger back in March.

–Aaron McDade

SpaceX Stock Is Back to Dropping After Earnings

FROM 7 hr 31 min ago

Investors bought into the SpaceX story ahead of earnings. Now they’re selling it again. 

Shares of SpaceX (SPCX) were recently down 11% in premarket trading, on pace to open below the levels around $114 at which they ended Monday–a day before the stock posted a 9% gain in the session ahead of the company’s first quarterly earnings report as a publicly traded entity. 

There was certainly reason for optimism in last night’s results, which included quarterly revenue and operating profit better than was expected by Wall Street and CEO Elon Musk’s vision of a trillion-dollar revenue year as soon as 2029, substantially earlier than most analysts expect. 

But investors in SpaceX seem largely concerned with the same question that has lately weighed on some of the hottest corners of the AI trade: Even if big spending on artificial intelligence infrastructure leads to big revenue growth, will it be big, or profitable, enough? Several of the Street’s bullish analysts think it will, though investors seem more circumspect today. 

Meanwhile, investors are also eyeing the looming expiration of post-IPO lockups that stand to significantly boost the number of shares on the market and could put more downward pressure on the stock, which remains below its mid-June listing price. 

–David Marino-Nachison

Uber Slips as Lackluster Results Outweigh Robotaxi News

FROM 7 hr 38 min ago

Uber (UBER) stock is falling premarket after the ridesharing and food delivery giant reported lackluster earnings, outweighing the news of a significant step in its robotaxi efforts.

Revenue fell short of Wall Street estimates compiled by Visible Alpha, while adjusted EPS came in just 1 cent higher than expected.

Ahead of the report, Uber announced that one of its autonomous vehicle partners, Wayve, has received approval to operate supervised robotaxi rides in London with its fleet of electric Ford (F) Mustang vehicles.

The company said a few of the 100,000 people who have signed up to be early riders will get to try them later this summer before a full launch is announced.

Uber shares were down 3% recently.

–Aaron McDade

Shopify Stock Soars After ‘Monster Quarter’

FROM 8 hr 22 min ago

Shopify just had what its president called a “monster quarter.” Its outlook for the current quarter doesn’t look too shabby, either.

Shares of Shopify (SHOP) are soaring 23% before the bell Wednesday after the Ottawa-based e-commerce company reported better-than-expected second-quarter results and issued a rosy outlook.

Shopify, which describes itself as providing “essential internet infrastructure for commerce,” posted adjusted earnings of $0.42 on revenue that increased 34% year-over-year to $3.58 billion. Analysts polled by Visible Alpha had expected $0.40 per share and $3.46 billion, respectively. The firm’s Q2 Gross Merchandise Volume came in at $115.57 billion, up 32% and above expectations of $111.98 billion.

“This was a monster quarter: more than 30% growth in GMV AND revenue AND gross profit AND free cash flow,” Shopify President Harley Finkelstein said. “We power every kind of business, and with AI, we’re expanding what’s possible for all of them. No one else comes close.”

For the third quarter, Shopify sees revenue growing “at a low-thirties percentage rate,” while Visible Alpha consensus stands at 26.9%.

Through Tuesday, Shopify shares were down about 23% since the start of the year.

No Job Growth, No Problem? A Fundamental Rule of the Labor Market Is Changing

FROM 8 hr 43 min ago

Whenever the U.S. economy loses jobs in a given month, it’s a red flag for the health of the labor market—but that might not be true for much longer.

That’s according to a recent analysis by economists at Oxford Economics, who found that because of demographic trends, the unemployment rate could stay stable in the coming years even if employers fail to add jobs or even reduce them.

This is possible because the “break-even” rate of job creation—that is, the number of jobs required to keep the unemployment rate stable—has been falling and could go below zero next year for the first time in history.

“The U.S. labor market’s speed limit is low and heading lower,” Matthew Martin, senior U.S. economist at Oxford, wrote in the analysis.

Read the full article here.

–Diccon Hyatt

AMD Reported Record Sales on Growing AI Demand. The Stock Is Falling Anyway

FROM 8 hr 59 min ago

Advanced Micro Devices investors might be getting harder to impress.

Shares of AMD (AMD) were down 8% in premarket trading Wednesday, despite quarterly results that topped Wall Street’s estimates. The stock had climbed 7% yesterday ahead of the release, against a backdrop of broader market gains amid growing optimism about a peace deal between the U.S. and Iran. 

AMD posted adjusted earnings per share of $1.66 on revenue that jumped 50% year-over-year to a record $11.54 billion in the second quarter, above estimates compiled by Visible Alpha, as data center sales more than doubled. Its gross margin came in at 54%, up from 40% a year earlier.

CEO Lisa Su told investors in a release that AI is “driving a significant expansion in demand for compute across all of our markets, and our leadership portfolio and growing customer visibility position us exceptionally well to capture this expanding opportunity and deliver substantial revenue and earnings growth in the years ahead.”

Read the full article here.

–Kara Greenberg

Stock Futures Tick Higher After S&P 500, Dow Set Records

FROM 9 hr 34 min ago

Futures contracts tied to the Dow Jones Industrial Average rose 0.3%.

S&P 500 futures pointed up 0.4%.

Nasdaq 100 futures were little changed.