AMD Stock Rises 15% to Record High
Strong performance by the cyclical and high-growth areas of the market continued to lead the markets higher on Tuesday, with S&P 500 and Nasdaq Composite setting fresh record highs. Basic Materials, Tech, and Industrials were the best performing areas on the benchmark, and with Energy also up a decimal, all S&P 500 sectors ended the day in positive territory.In the evening hours, more good news from Tech earnings were compounded by constructive developments on the geopolitical front. In semis, AMDwas up another 15% on better than expected results, spiking to fresh record highs above $400 per share, with the stock now having more than doubled from mid-March lows. Among key hardware names, Super Microjumped 18% on better than expected Q3 results and Q4 guidance. Meanwhile, further signs of progress in Middle East diplomacy is also boosting sentiment in the evening hours as President Trump posted on Truth Social that he is suspending "Project Freedom" whereby US was "guiding" commercial ships through the Strait of Hormuz. S&P futures are up 0.4% and Nasdaq 100 is up 0.8% on the statement, with WTI Crude Oil down about $3 below $100 per barrel.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Compassup 20.7%Super Microup 18.3%Flex Ltd.up 15.6%AMDup 14.9%Veeco Instrumentsup 13.0%International Flavors & Fragrancesup 5.8%Jazz Pharmaceuticalsup 4.9%Intappup 1.3%Live Nationup 1.1%Match Groupup 1.1%DOWN AFTER EARNINGS -Upstartdown 13.7%Angidown 13.6%Arista Networksdown 12.8%Teradatadown 9.3%Freshworksdown 7.5%Coupangdown 5.3%Skyworksdown 4.2%Strategydown 4.2%BJ's Restaurantdown 4.0%Qorvodown 2.4%Lumentumdown 2.0%
