Stock Movers: Apple, Amazon, and Figma's Volatile Trading Day

Market Performance and Sector Trends

• 📉 The S&P 500 saw a significant number of decliners, with big tech and consumer discretionary sectors experiencing the largest drops.
• 🟢 A bright spot was the healthcare sector, largely driven by Eli Lilly, due to potential Medicare expansion for weight loss drugs.

Top Stock Gainers

• 🚀 Monolithic Power Systems (MPWR) soared over 10% after reporting strong second-quarter results and providing an outlook that exceeded analyst expectations.
• ☀️ First Solar finished the day up 5.3%, boosting its full-year net sales forecast and benefiting from recent US legislation.
• 📈 Reddit saw a significant rise, up 17.5%, after reporting its most profitable quarter to date and projecting strong third-quarter sales, indicating success in monetizing its user base.

Notable Stock Decliners

• Amazon (AMZN) shares fell 8.3%, shedding over $200 billion in market cap due to weaker-than-expected operating income and slower cloud growth compared to rivals. CEO Andy Jassy noted that AI efforts are in "very early days."
• 🍎 Despite reporting its fastest quarterly revenue growth in over three years, Apple (AAPL) shares declined 2.5%, with iPhone revenue significantly exceeding expectations.
• 📉 Coinbase experienced a sharp drop of 16.7% following lower-than-estimated second-quarter revenue, attributed to a decrease in digital asset market volatility.