FilippoBacci
U.S. stocks ended the week mostly higher, with the S&P 500 (+0.6%) and Nasdaq (+1.5%) setting new record highs, lifted by strong Q2 earnings and softer-than-expected inflation data. June retail sales also beat forecasts, helping offset worries over tariffs and Federal Reserve independence. The Dow Jones dipped slightly, ending the week down 0.1%.
Amid a positive week for the market, these were some of the trending stocks:
Rigetti Computing (RGTI) surged during Wednesday trading after achieving a new milestone, which places its quantum computing systems closer to achieving profitability. The Berkeley-based quantum computing company said it reached a key mid-year milestone, achieving 99.5% median two-qubit gate fidelity on its modular 36-qubit system.
Sarepta Therapeutics (SRPT) shares plunged after a third patient death was reported linked to the company’s gene therapies, intensifying scrutiny over the safety of its treatments, Bloomberg reported. The latest death occurred last month during an early-stage trial for a therapy targeting limb-girdle muscular dystrophy.
Lucid (LCID) shares advanced after it announced a partnership with Uber (UBER) to develop a “next generation premium global robotaxi program” using Nuro autonomous vehicle technology. As part of the deal, Uber (UBER) will invest $300M in Lucid (LCID) and a “multi-hundred-million dollar” investment in Nuro.
Netflix (NFLX) was in focus as the streaming giant beating expectations with its second-quarter results, while lifting its full-year outlook. The stock remains a strong performer, up nearly 50% since hitting a low in April.
ASML (ASML) slumped 7% despite reporting strong Q2 results, including a 23% Y/Y revenue increase. The chip-equipment maker guided Q3 sales between €7.4B and €7.9B with a gross margin of 50%–52%, and reaffirmed its 2025 outlook for 15% revenue growth and ~52% margin. However, CEO Christophe Fouquet cautioned that growing macro and geopolitical uncertainty makes the 2026 growth outlook too early to confirm.
Nvidia (NVDA) shares rose after the AI giant said it expects to resume H20 GPU sales to Chinese customers, citing U.S. assurances on export licenses. Rival AMD (AMD) also announced a similar move later, jumping over 7% after confirming it will resume shipments of its MI308 chips to China with U.S. government approval.
Elevance Health (ELV) fell after the managed care insurer cut its full-year earnings outlook alongside its second quarter results. The company now expects adjusted net income of $30 per diluted share, down from a prior range of $34.15–$34.85. The revision was driven by higher-than-expected costs in its Medicaid and ACA exchange businesses. The warning also weighed on shares of industry peers.
MP Materials (MP) rallied after securing a $500M commitment from Apple (AAPL). Under the agreement, MP Materials, the operator of the only U.S. rare earths mine, will supply Apple (AAPL) with magnets produced at its Fort Worth, Texas, facility using recycled rare earth feedstock processed at its Mountain Pass site in California.
Taiwan Semiconductor (TSM) drew attention after the chipmaker posted Q2 results, topping earnings expectations with a 60% jump in profit but missing on revenue. Despite the revenue miss, year-over-year growth came in strong at 38.6%. For Q3, TSMC guided revenue between $31.8B and $33B, with the midpoint ($32.4B) beating the $31.84B consensus.
Invesco (IVZ) stock jumped in Friday midday trading after the investment firm filed a proxy statement seeking to convert its QQQ Trust Series 1 (QQQ) to an open-end fund from a unit investment trust.