Midday update
$TTMI fell 27.08% by midday Thursday, reversing an early beat.
$TTMI fell 27.08% by midday Thursday, reversing an early beat. The Nasdaq is down 2.30% and the S&P 500 is down 1.34% as Tesla's and Meta's earnings failed to ease doubts about the AI outlook.
- TTM Technologies beat Q3 views and raised full-year EPS guidance before the open. Shares then reversed intraday on heavy volume after a same-day report flagged its expanding debt load.
- Carpenter Technology (CRS) fell 22.13% despite record operating income, up 28% year over year, and a $0.21 EPS beat. Revenue of $798.2M missed estimates by $32.49M.
- Biohaven (BHVN) rose 25.79% after the FDA accepted its resubmitted Vyglxia NDA, with a Q1 2027 action date. Spotify (SPOT) gained 8.40% on 6M net premium adds and a Q4 profit forecast above estimates, despite a €0.33 EPS miss. Nasdaq Inc. (NDAQ) rose 6.85% on record recurring revenue.
- NVDA is down 3.74% after Jensen Huang said capital remains scarce even as neocloud demand runs high. AMD is down 7.50% as Lam Research's commentary stoked capex fears.
- Semiconductors are down 5.48%, with all 11 covered names lower, while consumer staples are up 2.66% with all 10 higher.
Small caps are holding up, with IWM down 0.38% against a 2.35% drop in QQQ. That gap keeps the pressure on AI-linked hardware heading into the afternoon.
Not financial advice. For informational and educational purposes only.
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