U.S. stocks extended their impressive rally this Thursday, with the S&P 500 and Dow Jones Industrial Average carving out fresh record highs. Tech stocks overall showed resilience, even as Nvidia Corp. (NASDAQ:NVDA) underperformed following muted quarterly results.
Major indices closed higher on Thursday, with the Dow Jones Industrial Average rising 0.2% to 45,636.90. The S&P 500 added 0.3% to finish at 6,501.86, while the Nasdaq climbed 0.5% to 21,705.16.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Offerpad Solutions Inc. (NYSE:OPAD)
Offerpad shares surged 85.42% to close at $6.23 after an intraday range of $3.56 to $6.35, notching both its intraday high and new 52-week high at $6.35, while its 52-week low remains $0.91. In the after-hours trading, the stock tanked over 26% to $4.57.
Shares of the iBuyer climbed sharply as traders responded to sector-wide optimism fueled by Federal Reserve comments indicating potential interest rate cuts; optimism in the real estate technology segment spilled over from Opendoor Technologies, amplifying volatility. Momentum in the housing market and fluctuations in mortgage rates continue to tie this high-beta stock's fate to broader rate-sensitive trends.
Affirm Holdings Inc. (NASDAQ:AFRM)
Affirm’s stock spiked 3.09% to close at $79.99, registering an intraday high of $81.05 and low of $78.00, with a 52-week high of $82.53 and low of $30.90. In the after-hours session, the stock climbed 17% to $93.33.
The digital payments innovator rallied following the release of quarterly results that smashed analyst forecasts, including $0.20 EPS and $876 million in revenue. Improved merchant network reach and a strong focus on direct-to-consumer products were reported, alongside enhanced credit performance. The company reported earnings of 20 cent per share, which beat estimates of 10 cents.
Marvell Technology, Inc. (NASDAQ:MRVL)
The company’s shares rose 3.26% to finish at $77.23, with intraday movement from $75.05 to $78.08, sitting notably below its 52-week high of $127.48 but well above its low at $47.09. In the after-hours trading, the stock dipped over 11% to $68.52.
Marvell reported earnings of 67 cents per share, which beat the analyst estimates of 66 cents per share. The quarterly revenue came in at $2.006 billion, missing the Street estimate of $2.009 billion. The company expects third-quarter adjusted earnings in the range of 69 cents and 79 cents per share, compared to the 72-cent estimate.
Ulta Beauty, Inc. (NASDAQ:ULTA)
The stock declined 0.60% to $530.63, trading between $526.17 and $538.59, which also marks its new 52-week high, while the 52-week low remains $309.01. The shares rose 3.8% to $551 in the after-hours trading.
The specialty beauty retailer's latest quarterly report beat consensus with both EPS and revenue, driven by broad category growth and improving comparable sales. Revenue was reported at $2.79 billion, beating the consensus estimate of $2.67 billion. Store expansion and increased inventories highlight the company's confidence, as leadership signaled raised full-year guidance while sharing cautious optimism about consumer demand's evolution.
Dell Technologies Inc. (NYSE:DELL)
The Michael Dell-led company’s shares advanced 1.17% to $134.05, fluctuating between a low of $130.65 and a high of $135.18, keeping its 52-week record at $147.66 and 52-week low at $66.25. In the after-hours trading, the shares slipped 5.3% to $127.
Dell posted strong second-quarter results with record revenue in its Servers and Networking division, thanks to explosive demand for AI solutions. Leadership raised guidance for both quarterly and annual revenue, crediting substantial progress on AI product shipments. In the second quarter, the company reported revenue of $29.78 billion, which beat the consensus estimate of $29.17 billion.
Benzinga's Edge Stock Rankings indicate Offerpad stock checks out on Short, Medium and Long Price Trends. Here is how it stacks up against another recent retail favorite, Opendoor Technologies.
Prepare for the day's trading with top premarket movers and news by Benzinga.
Photo Courtesy: MMD Creative on Shutterstock.com
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
