Tech Cools, Rotation Heats Up as Health Care & Industrials Lead

S&P 500 futures edged up Wednesday after the market slipped in the prior session, as investors moved away from technology stocks.

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Major Indexes: S&P 500 higher, Nasdaq lower, Dow higher, Russell 2000 higher

Leading Sectors: Health Care, Communication, Materials, Industrial, Utilities, Real Estate, Energy

Lagging Sectors: Technology, Consumer Staples

Advanced Micro Devices (AMD): The stock dropped after investors reacted cautiously to forward guidance, even though revenue expectations were generally solid and margins were in line with estimates.

Eli Lilly (LLY): The company delivered better-than-expected earnings and revenue and raised its long-term profit and sales outlook, reinforcing confidence in its drug pipeline.

Boston Scientific (BSX): Shares declined after the company issued full-year guidance that was roughly in line to slightly below expectations, tempering investor enthusiasm.

Uber (UBER): The stock fell after the company issued cautious guidance for the upcoming quarter and noted that autonomous vehicles will remain a small part of its business for years, despite strong recent results.

Super Micro Computer (SMCI): Strong demand for AI servers helped the company beat earnings and revenue expectations and raise its long-term revenue outlook, signaling continued momentum from AI-related spending.

JinkoSolar (JKS): Shares rose after reports that the company had discussions linked to potential large-scale U.S. solar expansion plans, boosting optimism around future demand.

Silicon Laboratories (SLAB): Shares jumped after reports that Texas Instruments (TXN) agreed to buy the company, reflecting ongoing consolidation in the semiconductor industry.

Varonis Systems (VRNS): Shares fell after the company issued long-term earnings guidance that came in well below Wall Street expectations.

Match Group (MTCH): The company posted stronger-than-expected earnings and revenue and forecast higher future cash flow, boosting investor confidence.

Chipotle (CMG): Shares slid after the company reported continued declines in customer traffic and projected flat same-store sales growth, despite beating earnings expectations.

Enphase Energy (ENPH): The stock rose after the company issued upbeat revenue guidance and reported quarterly results that exceeded expectations.

Lumentum Holdings (LITE): Shares jumped after the company beat earnings and revenue estimates and issued strong guidance for the current quarter.

Take-Two Interactive (TTWO): The video game publisher raised its long-term bookings forecast, signaling confidence in its upcoming game lineup.

Amgen (AMGN): The company reported quarterly and full-year results, issued guidance for the coming year, and highlighted the launch of a new direct-to-patient program with plans to expand it.

Lumen Technologies (LUMN): The company surprised investors with a quarterly profit, guided to stronger free cash flow, significantly reduced debt after a major asset sale, and outlined a long-term turnaround plan.

AbbVie (ABBV): AbbVie reported results, issued earnings guidance for the coming year, and submitted regulatory applications for a new treatment targeting vitiligo.

Cognizant (CTSH): The company exceeded guidance across key metrics, boosted shareholder returns, and issued an initial outlook pointing to continued AI-driven growth.

Johnson Controls (JCI): The company beat earnings expectations, raised full-year guidance, and unveiled new cooling technology aimed at data centers and AI facilities.

Amcor (AMCR): Amcor beat earnings expectations, raised its dividend, reaffirmed long-term targets, and outlined cost synergies and potential divestments of non-core businesses.

Prudential Financial (PRU): Prudential reported strong results, raised its dividend, authorized share buybacks, and temporarily paused new sales in Japan to address internal issues.

CME Group (CME): CME capped another record year with strong quarterly results, extending its streak of annual growth in revenue and profits.

UBS (UBS): UBS reported solid profits, raised its dividend, expanded buyback plans, and set new long-term targets, though investors focused on slower asset growth in its U.S. wealth business.

Amdocs (DOX): The company beat earnings and revenue expectations, reaffirmed its full-year outlook, completed an acquisition, expanded AI offerings, and announced a planned CEO transition.

Adient (ADNT): The auto-seating supplier posted stronger-than-expected earnings and revenue and raised its full-year outlook.

(Stocks showing elevated volume and notable price movement)

Gainers: LUV, VIAV, BIPC, AVT, SYY, CGON

Losers: HOOD, AI, SOFI, KVYO, HUBS, CVLT, PAR, PINS, CEG, MNDY, FIG

Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider consulting a financial professional before making investment decisions.