Closing Bell Movers: Qualcomm down 3%, Robinhood slips 2% on earnings

Major indices recovered some of the ground lost in the prior session on Wednesday, though the markets finished well off intraday highs and equity futures this evening suggest that Thursday will see more pain for investors.  S&P 500 e-minis are down 0.2% and Nasdaq 100 contract is off by 0.3%, with the familiar theme of Semiconductors and Consumer Cyclical names selling off on earnings whether the companies beat estimates or not.  In that vein, Qualcomm is down about 3% even though the company has beaten on top and bottom lines in Q4 and guided above-consensus for Q1, while Duolingo, Elf Beauty, and DoorDash are down double-digits as caution over the economic outlook permeates sentiment in discretionary spending.   

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

HIGHER AFTER EARNINGS –

• Penumbra (PEN) up 16.4%
• LegalZoom.com (LZ) up 16.2%
• Snap (SNAP) up 14.9%
• Tutor Perini (TPC) up 14.8%
• Coherent (COHR) up 11.7%
• Caris Life Sciences (CAI) up 10.1%
• Sezzle (SEZL) up 9.0%
• MKS (MKSI) up 7.9%
• AppLovin (APP) up 6.4%
• Figma (FIG) up 5.6%
• Freshworks (FRSH) up 5.3%
• Coty (COTY) up 4.5%
• Arm (ARM) up 3.5%
• Allstate (ALL) up 1.3%

DOWN AFTER EARNINGS –

• ACV Auctions (ACVA) down 25.2%
• Duolingo (DUOL) down 19.6%
• Elf Beauty (ELF) down 19.4%
• HubSpot (HUBS) down 13.3%
• Fortinet (FTNT) down 12.1%
• Kemper (KMPR) down 10.6%
• DoorDash (DASH) down 10.0%
• Paycom (PAYC) down 9.1%
• Centrus Energy (LEU) down 6.2%
• Robinhood (HOOD) down 3.6%
• Qualcomm (QCOM) down 2.7%
• Metlife (MET) down 1.8%