Market Movers

S&P 500 — daily market movers

Macro backdrop

Narrow, tech-led session. The S&P 500 was little changed overall on Thursday, with tech standing out as effectively the only sector to advance — powered by Nvidia's blowout earnings and a cluster of enterprise-software beats — while retail, casino and consumer-facing names dragged after cautious earnings commentary about a strained, deal-hunting consumer.

Top 10 gainers

  • 1. CRM+22.58%
    Salesforce
    Cloud-based CRM software for managing sales, service and marketing
    Q2 earnings beat, a gain on its Anthropic investment, and a raised full-year guide.
  • 2. CRWD+20.50%
    CrowdStrike
    Cloud-native cybersecurity for endpoint and cloud threat protection
    Q2 beat with much stronger FY27 guidance on rising AI-driven security demand.
  • 3. VEEV+15.20%
    Veeva Systems
    Cloud software for life-sciences clinical, regulatory and commercial data
    Q2 earnings came in stronger than analysts expected.
  • 4. SNPS+13.39%
    Synopsys
    Electronic design automation software and IP for chip design
    Q3 earnings beat, lifted by AI-driven chip design demand.
  • 5. PANW+12.83%
    Palo Alto Networks
    Network, cloud and endpoint cybersecurity platforms
    Read-through rally from CrowdStrike's strong earnings ahead of its own report.
  • 6. NOW+10.04%
    ServiceNow
    Cloud platform for enterprise IT, HR and workflow automation
    Commentary pointing to accelerating subscription growth into 2026.
  • 7. FTNT+9.67%
    Fortinet
    Network security, firewalls and unified threat management
    Q2 revenue up 26% and beat estimates, with guidance raised.
  • 8. NVDA+8.74%
    Nvidia
    Designs GPUs and AI accelerator chips for data centers and gaming
    Blowout Q2 results and surprisingly strong forward guidance.
  • 9. DDOG+6.70%
    Datadog
    Cloud monitoring and observability platform for IT infrastructure
    Rode the AI-software rally; analysts have been hiking targets on AI-driven demand.
  • 10. ADSK+6.21%
    Autodesk
    Design and engineering software for architecture, construction and manufacturing
    Q2 earnings beat lifted the stock into and after its release.

Common Themes

Nine of the ten gainers are enterprise software or semiconductor names, and eight of them reported earnings within the same 48-hour window (Aug 25-27), making this look far more like a synchronized earnings-season pop than ten unrelated stories. Nvidia's blowout report was the anchor event: it validated continued AI capex, and that read-through lifted cybersecurity (CRWD, PANW, FTNT), SaaS (CRM, NOW, VEEV, DDOG, ADSK) and chip-design software (SNPS) almost as a single basket. PANW in particular moved on CRWD's numbers rather than its own, which is a useful reminder that not every mover here has a standalone catalyst.

Top 10 losers

  • 1. HRL-10.25%
    Hormel Foods
    Packaged foods including Spam and Skippy peanut butter
    Q3 miss, with management citing consumers squeezed by inflation and fuel costs.
  • 2. CASY-5.42%
    Casey's General Stores
    Midwest convenience-store and gas-station chain
    No clear same-day catalyst found in available coverage.
  • 3. TPR-5.38%
    Tapestry
    Owns fashion brands Coach, Kate Spade and Stuart Weitzman
    No fresh Aug 27 news found; likely a continuation of prior Kate Spade-recovery concerns.
  • 4. MRNA-4.60%
    Moderna
    mRNA vaccines and oncology vaccine research
    Profit-taking after a sharp prior run-up tied to cancer-vaccine breakthrough news.
  • 5. GNRC-4.52%
    Generac
    Manufactures backup power generators and energy technology
    Investors digesting a lack of a hyperscaler data-center deal and recall headlines.
  • 6. BBY-4.44%
    Best Buy
    Consumer electronics retailer
    Beat on revenue but shares fell on soft margins and a deal-hunting consumer.
  • 7. EXPE-4.35%
    Expedia Group
    Online travel booking platform for flights, hotels and packages
    No clear same-day catalyst found in available coverage.
  • 8. LVS-4.30%
    Las Vegas Sands
    Operates casino resorts in Macau and Singapore
    No standalone catalyst found; part of a broader casino-sector pullback.
  • 9. DLTR-3.92%
    Dollar Tree
    Discount variety retailer
    Beat estimates but guidance flagged tariff pressure, denting the stock.
  • 10. WYNN-3.66%
    Wynn Resorts
    Operates luxury casino resorts in Las Vegas and Macau
    No clear same-day catalyst found; moved with the casino-sector pullback.

Common Themes

Three threads run through the losers. First, staples and discount retail (HRL, BBY, DLTR) all pointed to the same theme in their own words — a strained, price-conscious consumer — even where headline numbers technically beat estimates. Second, casino and travel names (LVS, WYNN, EXPE) fell together with no single stock offering a distinct catalyst, consistent with sector-wide rotation rather than company-specific news. Third, MRNA and GNRC look like giveback trades, unwinding sharp prior run-ups rather than reacting to new bad news.

Overall read

Money rotated hard into AI-adjacent software, security and semiconductors on the back of Nvidia's and several SaaS peers' earnings, while it rotated out of consumer-facing sectors — retail, casinos and travel — where earnings commentary consistently flagged a more cost-conscious shopper. The result was a market that looked flat at the index level but was anything but calm underneath.

Sources