Closing Bell Movers: HP Enterprise down 20% as guidance disappoints

Stock futures are modestly higher this evening as investors cheer further indication of delays to the widely maligned tariffs plans on Mexico and Canada from the White House, though the lack of clarity is confounding sentiment, particularly as the dreaded March non-farm payrolls report on Friday stands to spotlight the potential downdraft from federal government job loss. Dow futures are up 0.2%, S&P500 futures are up 0.4%, and Nasdaq 100 futures are up 0.5% in the first two hours of trading. Earlier in the regular session Nasdaq Composite became the first major index to enter a “correction” territory, or down 10% from all-time highs.  S&P500’s retreat from February 19 highs still amounts to about 7%.

Among the key earnings reports after market close, HP Enterprise disappointed investors with a soft outlook, sending the stock plunging 20% to its lowest levels since 2023. Costco shares were modestly lower on a slight earnings miss, while Broadcom offered a ray of hope to the beaten down Semiconductors space, with an earnings beat and better than expected guidance sending the stock higher by 12%.Check out this evening’s top movers from around Wall Street, compiled by The Fly.  

HIGHER AFTER EARNINGS – 

• The Gap (GAP) up 17.5%
• Broadcom (AVGO) up 11.9%
• AerSale (ASLE) up 5.8%

ALSO HIGHER –

• Walgreens Boots (WBA) up 5.8% after Sycamore Partners confirms acquisition at $11.45 per share

DOWN AFTER EARNINGS –

• HP Enterprise (HPE) down 20.0%
• Serve Robotics (SERV) down 11.0%
• Smith & Wesson Brands (SWBI) down 8.0%
• Samsara (IOT) down 5.2%
• The Cooper Companies (COO) down 4.9%
• Funko (FNKO) down 4.5%
• Costco (COST) down 1.4%

ALSO LOWER –

• Intuitive Machines (LUNR) down 27.7% on reports of complications in IM-2 lunar landing