S&P 500 Rises, Utilities & Energy Stocks Lead

Key Takeaway

• The S&P 500 Index rose 0.3%, driven by utility and energy stocks, while Apple declined, impacting the tech sector.
• Calavo Growers surged 13% on strong earnings, and DXC Technology gained 5% post-market amid acquisition talks; Yext fell 13% due to a weak outlook.

After-market Top Moves

As the trading day concluded, the S&P 500 Index advanced by 0.3% to 5,360.79, driven by strong performances in utility and energy stocks. However, Apple was a notable decliner, impacting the broader tech sector. Here are some of the most significant after-hours movers:

• S&P 500 Index: Up 0.3%, buoyed by utility and energy stocks.
• Apple: Declined, contributing to a mixed performance in the tech sector.

Highlights by Sector

Utilities and Energy
Utility and energy stocks outperformed, contributing significantly to the S&P 500's gains. This sector's strength was a key driver behind the index's positive performance.

Technology
Apple's decline was a notable drag on the tech sector, which saw mixed results. However, DXC Technology (DXC) showed resilience with a significant post-market gain.

Notable Gains and Losses

Gains

• Calavo Growers (CVGW): Shares surged 13% after the company reported second-quarter profit and sales that exceeded estimates.
• DXC Technology (DXC): The stock rose 5% post-market, following an 11% gain during regular trading hours. Reuters reported that Apollo Global and Kyndryl Holdings are in talks about a joint bid for the IT services provider.

Losses

• Yext Inc. (YEXT): Shares fell 13% after the company announced a deal to acquire Hearsay Systems and provided a weaker-than-expected second-quarter outlook.

Key Movers & Takeaway

The after-market session highlighted significant movements driven by earnings reports and strategic announcements. Calavo Growers' strong earnings report boosted investor confidence, while DXC Technology's potential acquisition talks added to its positive momentum. On the downside, Yext's acquisition news and weak outlook weighed heavily on its stock.

Key Movers Table by Market Cap

LargeCap Movers (>$20B)

Mid-Cap Movers ($5B-$20B)

SmallCap Movers ($50M-$5B)

Top Overbought/Oversold by 14-Day RSI

Overbought Stocks

Oversold Stocks

The after-market session provided a mix of gains and losses, with significant movements driven by earnings reports and strategic announcements. Investors should keep an eye on these key movers as they could set the tone for the next trading session.