Top Gainers Today: Super Micro, AMD, Snap, Novo Nordisk, McDonald’s, Disney, Match, and More

Market Moves and Earnings Reports

On Wednesday, the stock market experienced a positive shift as investors focused on quarterly earnings reports rather than President Donald Trump’s recent tariff threats. Several companies saw notable movements in their stock prices, reflecting both strong performances and disappointing results.

McDonald’s shares rose by 3% following its second-quarter results. The fast-food chain reported adjusted earnings of $3.19 per share on revenue of $6.8 billion, surpassing analysts’ expectations. To attract customers back after price hikes during the pandemic, McDonald’s introduced budget-friendly menu items and plans to extend late-night hours at most U.S. locations while expanding globally.

In contrast, Advanced Micro Devices (AMD) saw its stock drop by 6.4%. Despite reporting adjusted earnings of 48 cents per share—meeting forecasts—and revenue of $7.7 billion, which exceeded Wall Street estimates, AMD faced challenges due to uncertainty around chip sales in China. The company is awaiting license approvals, which contributed to the decline in its stock price.

Super Micro Computer suffered a significant drop of 18% after missing earnings expectations for its fiscal-fourth-quarter report. Although the server maker provided strong revenue guidance for fiscal 2026, the outlook suggested that sales would be concentrated in the second half of the fiscal year.

Snap Inc., the parent company of Snapchat, saw its shares fall by 17% after posting a second-quarter loss of 16 cents per share, which was worse than expected.

Arista Networks, however, had a strong day, with its stock rising 17%. The company surpassed expectations with both profits and revenue for the second quarter, and its current-quarter guidance also outperformed estimates, driven by increased spending on cloud networking solutions.

Astera Labs experienced a surge of 29%, as it reported record quarterly revenue of $191.9 million, representing a 150% year-over-year increase. This growth was fueled by strong demand for AI products.

Walt Disney’s stock fell by 2.7%, despite exceeding earnings expectations. The entertainment giant reported adjusted quarterly profit of $1.61 per share, higher than the $1.45 analysts predicted. Revenue also climbed to $23.65 billion, slightly beating forecasts. Additionally, Disney struck a deal with the National Football League, gaining control of media assets like the NFL Network in exchange for a 10% stake in ESPN.

Shopify’s shares jumped 22% after the e-commerce platform exceeded estimates for both gross profit and revenue. The company also provided a strong outlook for the third quarter, which helped lift other stocks such as Amazon.com and Walmart, which rose 4% and 4.1%, respectively.

Lucid Group saw its stock tumble 9.7% after reporting another quarterly loss and lowering its 2025 production forecast. Rivian Automotive also declined by 4.2%, as the electric vehicle maker revised its annual loss range to between $2 billion and $2.25 billion.

U.S.-listed shares of Novo Nordisk fell 3.9% after the drugmaker reported second-quarter earnings. The company announced cost-cutting measures and improved commercial execution, but the stock had already dropped 23% earlier in the week after a profit warning.

Emerson Electric declined by 4.7% after missing sales expectations for its fiscal-third-quarter and adjusting its full-year sales growth forecast to 3.5% from 4%. The company also reduced its adjusted earnings forecast for the full year.

Match Group, owner of Tinder, reported revenue of $863.7 million for the second quarter, exceeding the $854.1 million consensus estimate. While paying users declined by 5%, the metric rose 18% at Hinge, leading to an 11% increase in Match stock.

Six Flags Entertainment’s shares plummeted 21% after the amusement park operator cut its full-year adjusted earnings forecast and announced the departure of CEO Richard Zimmerman.

Uber Technologies fell 0.2% despite meeting and beating expectations for its second-quarter earnings. Concerns about competition from robo-taxi services appeared to affect investor sentiment.

Earnings reports were also anticipated from several other companies, including Novavax, Rockwell Automation, Unity Software, Airbnb, AppLovin, DraftKings, Duolingo, Exact Sciences, Lyft, Occidental Petroleum, and Zillow.