Stock Movers: Salesforce Weak Sales, Alphabet Record High, HP Earnings

Market Performance Overview

• 📊 The US market saw more sectors decline than advance, with Communication Services and Tech sectors showing notable gains.
• 📉 Energy and Industrial sectors experienced significant downturns during the trading session.

Salesforce's Financial Outlook

• ⚠️ Salesforce (CRM) projected lackluster quarterly sales growth, with revenue guidance for the current quarter falling in line with analyst expectations.
• 📉 Despite reporting an outstanding quarter, shares fell about 5% in after-hours trading, indicating investor disappointment.
• 🎯 The company remains on track for fiscal 2026 to be a record year, with a target of nearly $15 billion in operating cash flow.

Alphabet's Antitrust Victory

• 🚀 Google's parent company, Alphabet (GOOG), hit a record high after a US judge ruled against the government's antitrust proposals, including the forced sale of its Chrome browser.
• 📈 The shares rallied significantly on the news, with the stock gaining about 9% in the session.
• 🌐 Opera (OP), a web browser company with a partnership with Google, also saw its stock rise nearly 11% due to the ruling.

HP Enterprise Earnings and Forecast

• 📉 HP Enterprise (HPE) issued a disappointing earnings forecast, with current period EPS projected between 56 and 60 cents, below analyst estimates of 59 cents.
• 💰 The company also predicted full-year free cash flow of about $700 million, lower than the $1 billion previously seen and the $1.3 billion estimated by analysts.
• 📉 Shares were down about 4% following the earnings release and outlook.

Other Notable Stock Movements

• 📈 Macy's surged over 20% after reporting second-quarter adjusted EPS that beat estimates and boosting its full-year forecast, alongside its best comparable sales growth in three years.
• 📉 Intuitive Surgical (ISRG) tumbled 6% after executives provided cautious comments regarding tariff impacts and gross margins for future years.
• 📉 American Eagle Outfitters shares surged 9% in after-hours trading, driven by better-than-expected second-quarter net revenue and a positive start to the fall season, fueled by successful marketing campaigns.