Closing Bell Movers: Micron up marginally after initial post-earnings spike

In the opening hour of the evening session, U.S. equity futures are marginally higher, with S&P 500 e-minis and Nasdaq 100 up by 0.1%.  In commodities, WTI Crude OIL contract is up another 0.5% following 2nd consecutive week of sizable draw in crude stocks as reported by API.  In precious metals, Gold and Silver made fresh record highs today about $3,800 and $44.70 per ounce, though both contracts are off their best levels.

Energy was by far the best performing sector on the S&P 500 on Tuesday, with Midstream and E&Ps rising broadly, while Halliburton (HAL) – the best performing stock on the index with a 7% gain – paced the Equipment/Services industry.  The cyclical Consumer Discretionary and Tech sectors were the worst performers however, with investors exercising more caution – particularly as Fed Chair Powell in a speech acknowledged that equity prices are “fairly highly valued” while also reiterating that policymakers find themselves in a “challenging situation” with upside risks to inflation.

Afterhours, Micron (MU) was the highlight of the session with its Q4 earnings, initially spiking by about 5% on the beat top and bottom line beat but then briskly erasing those gains.  In its prepared remarks, Micron remarked that Smartphone unit shipment expectations remain unchanged at low-single digit percentage range in 2025, though it continues to believe that the increasing mix of AI-ready smartphones is a a key catalyst for DRAM content growth in mobile devices.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Micron (MU) up 0.8%

ALSO HIGHER –

• Lithium Americas (LAC) up 76.2% after Reuters report that U.S. is interested in taking a stake in company
• Cyclerion Therapeutics (CYCN) up 37.4% after entering licensing agreement with MIT, announces strategic relaunch
• Evolent Health (EVH) up 1.8% after announcing sale of Evolent Care Partners to Privia Health for up to $113M 

DOWN AFTER EARNINGS –

• Worthington Enterprises (WOR) down 3.8%
• MillerKnoll (MLKN) down 1.0%
• AAR Corp. (AIR) down 0.7%

ALSO LOWER – 

• Cohu (COHU) down 11.0% after convertible debt offering