Top Movers

S&P 500 Hits Record; WD-40 Soars 10% on Earnings

After-Market

By Bill Bullington

7/10, 17:03 EDT
Alcoa Corporation
Citigroup, Inc.
Costco Wholesale Corporation
WD-40 Company
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After-market Top Moves

As the trading day concluded, the S&P 500 surged by 1% to a record high of 5,633.91, with all 11 major sectors and 80% of index members posting gains. The after-hours session saw notable movements driven by earnings reports and regulatory news.

  • S&P 500 Index: Up 1%, reaching a record high, indicating broad-based strength across sectors.
  • Alcoa (AA): Up 3% after reporting better-than-expected 2Q preliminary adjusted Ebitda.
  • Citigroup (C): Down 1.5% due to a $61 million fine from the Federal Reserve over data-quality management and risk controls.
  • Costco Wholesale (COST): Up 2.7% following the announcement of a membership fee increase.
  • WD-40 (WDFC): Up 10% after reporting better-than-expected 3Q earnings per share.

Highlights by Sector

Industrial Metals

  • Alcoa (AA): Shares gained 3% after the aluminum producer reported 2Q preliminary adjusted Ebitda that exceeded analyst expectations. This positive performance highlights the ongoing demand and pricing strength in the aluminum market.

Financials

  • Citigroup (C): The stock fell 1.5% in after-hours trading. The decline followed news that the bank will pay a $61 million fine to the Federal Reserve due to issues related to data-quality management and risk controls. This regulatory setback underscores the ongoing challenges in compliance and risk management within the financial sector.

Consumer Staples

  • Costco Wholesale (COST): Shares rose 2.7% after the company announced it would increase membership fees for the first time since 2017. This move is expected to boost revenue and reflects Costco's strong pricing power and loyal customer base.

Consumer Discretionary

  • WD-40 (WDFC): The stock climbed 10% after the company reported better-than-expected 3Q earnings per share. This significant gain highlights the company's strong operational performance and effective cost management.

Notable Gains and Losses

  • Alcoa (AA): Up 3%, driven by strong earnings.
  • Costco Wholesale (COST): Up 2.7%, following a membership fee hike.
  • WD-40 (WDFC): Up 10%, due to better-than-expected earnings.
  • Citigroup (C): Down 1.5%, impacted by a regulatory fine.

Key Movers & Takeaway

The after-hours session was marked by significant earnings-driven movements. Alcoa's strong earnings report reflects robust demand in the industrial metals sector. Costco's fee hike indicates confidence in its business model and customer loyalty. WD-40's impressive earnings underscore effective management and operational efficiency. Conversely, Citigroup's regulatory fine highlights ongoing compliance challenges in the financial sector.

Key Movers Table by Market Cap

LargeCap Movers (>$20B)

Stock Ticker Price Change Key Takeaway
Alcoa AA +3% Strong 2Q preliminary adjusted Ebitda beat analyst estimates
Costco Wholesale COST +2.7% Boosting membership fees for the first time since 2017
Citigroup C -1.5% $61 million fine from the Federal Reserve over data-quality issues

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

Stock Ticker Price Change Key Takeaway
WD-40 WDFC +10% Better-than-expected 3Q earnings per share

Top Overbought/Oversold by 14-Day RSI

Overbought Stocks

Stock Ticker RSI
Faraday Future Intelligent Electric FFIE 97.9
Defiance Silver DNCVF 89.2
Novavax NVAX 88.9
Bristow Group VTOL 88.6
Ardmore Shipping ASC 88.4

Oversold Stocks

Stock Ticker RSI
Seritage Growth Properties SRG 9.2
Dlocal DLO 15.0
Evolent EVH 17.3
Cerence CRNC 17.9
Papa John’s PZZA 17.9

The after-hours trading session provided a snapshot of the market's reaction to earnings and regulatory news, with significant movements in key stocks reflecting broader sector trends and company-specific developments.