September Stocks Get Going
CLOSING BELL
September Stocks Get Going
The market climbed on Wednesday, finally kick-starting what looked to be a slow September after Google’s court win acted like an adrenaline shot, sending the sector climbing higher.
Gold hit yet another record, and Bitcoin continued to rebound from nearly breaking $107k over the weekend. Earnings results showed consumers were resilient but cutting the smallest of purchases from their budgets, while software failed to meet really high expectations. 👀
Today’s Issue: Apple gets a win from Google’s court win, big earnings Wednesday, and more. 📰
3 of 11 sectors closed green, with communications $XLC ( ▲ 1.67% ) leading and energy $XLE ( ▼ 2.24% ) lagging.
$SPY ( ▲ 0.54% ) $QQQ ( ▲ 0.79% ) $IWM ( ▼ 0.1% ) $DIA ( ▼ 0.08% )
TECH
An Apple A Day, Keeps Chrome In Play
Apple rose 3% after Tuesday’s Google antitrust ruling preserved its $20B annual search deal.
Google pays big bucks for major tech companies to feature its search engine as the default option. In the court ruling, $GOOG ( ▲ 9.02% ) was not required to sell its Chrome browser, but it would have to share data with competitors. Most importantly, it could maintain its current deals to pay companies for featuring its search.
Gene Munster from Deepwater Asset Management said the payout makes up 15% of Apple’s operating income. Dan Ives said the fear that Apple would lose this hefty payoff is all but gone. “This was a black cloud worry over Apple’s stock as investors worried a Google Chrome breakup and/or forced to extinguish the search deal with Apple was potentially on the docket,” Ives said in a note.
Apple also benefited from after-market news from WSJ that said it is still working on AI tech of its own, an AI search tool for Siri that will eventually come to its Safari web browser. The stock $AAPL ( ▲ 3.81% ) saw its biggest one-day increase in a month. The tech giant is set to announce new tech, and likely the next version of the iPhone, on September 9th.
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EARNINGS REPORTS
For Whom Does The Market Bell Toll 🔔
Macy’s started the earnings day out with a positive note, $M ( ▲ 20.68% ) after raising its annual profit and sales forecast. CEO Tony Spring cited the resilient consumer. It was the first quarterly sales growth in three years, about a year after Spring took the Marcy’s chief chair in 2024.
Speaking of selective spending, Dollar Tree fell $DLTR ( ▼ 8.37% ) after its morning report beat street estimates and raised its guidance, but not high enough. CEO Mike Creedon said tariff volatility was a major hurdle. Prices have risen for years, and the lowest-end of customers were selecting to cut down. Sales on $1 range items grew at twice the rate of other segments.
“If you look at the lower-income consumer, and you look at the challenges that they’re facing every day, what things cost, it’s a cause for caution,” Creedon said.
Earnings After The Bell
Salesforce $CRM ( ▲ 1.42% ) fell after hours, reporting better-than-expected earnings and revenue but weak software guidance. The stock fell after a 23% drop this year so far, as the Street continues to expect more from software companies in the age of AI productivity promises. Enterprise value to free cash flow is at a 10-year low, according to Jefferies.
C3.ai $AI ( ▼ 0.83% ) fell with disappointing after-hours results. Revenue fell to $70.3M from $87.2M last year in the same quarter. The enterprise AI company said it would appoint Stephan Ehikian as its new CEO.
Figma $FIG ( ▲ 3.9% ) fell like a rock in its first full quarter report since its IPO, down about 13%. The company just broke even in the quarter on $249.6M in revenue. It pulled in $846k in net income, well above last years Q2 loss of $828M.
American Eagle $AEO ( ▲ 0.81% ) climbed 23% after market, reporting its Sydney Sweeney campaign brought impressive gains to consumer sales.
“The fall season is off to a positive start. Fueled by stronger product offerings and the success of campaigns with Sydney Sweeney and Travis Kelce, we have seen an uptick in customer awareness, engagement, and comparable sales,” CEO Jay Schottenstein said in a news release.
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MACRO
Fed Posts Most Boring Macro News 📔
The Fed posted the Beige Book summary of qualitative data from each of the twelve Federal Reserve Bank regions in the U.S. Basically, it documents what people are saying across the U.S. about the economy. It helps inform how the FOMC decides on monetary policy.
The ever-boring book said economic activity was mostly unchanged since the last report in July. Consumer spending was flat and falling, wages are slowing to keep up with price climbs, and tariffs are scaring people into indecision. AI data center buildings were pouring money into commercial real estate in Philadelphia, Cleveland, and Chicago, though. ⚡️
Labor was slowing down overall, and contacts across most districts reported it was harder to find immigrant labor. Some firms are passing tariff pricing along to consumers, while others are trying to keep prices low: All districts said tariffs are causing price climbs.
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Top Stocktwits News Stories 🗞️
Bank of America reiterated its warning that a September rate cut would be a “policy mistake,” citing persistent inflation and a supply-driven labor market slowdown.
Campbell’s rose nearly 5% after CEO Mick Beekhuizen flagged cautious consumer spending and highlighted a surge in home cooking and wellness demand, driving growth in its Meals and Beverages segment.
ConocoPhillips is preparing to lay off up to 25% of its workforce, with CEO Ryan Lance outlining the plans in an internal video ahead of Thursday’s town hall.
NuScale Power rose 8% after Canaccord raised its price target to $60, citing a major reactor deal to deploy six ENTRA1 Energy Plants across seven states.
US Bancorp resumed Bitcoin custody services for institutional clients after the SEC rescinded capital-holding guidance, expanding its offering to include bitcoin ETFs.
Wave Life Sciences fell 19% despite reporting successful RNA editing and durable protein production in all trial participants, as analysts cited investor disappointment over the magnitude of AAT protein increase.
Rocket Lab saw a 700% spike in retail chatter and hit top-trending status on Stocktwits after Roth Capital raised its price target to $60, citing Neutron launch progress and infrastructure readiness.
Polestar dropped 17% after reporting a $1.027B Q2 loss and warning of tariff-driven cost pressures, though CEO Lohscheller expressed optimism that the market will eventually price in EV cost increases.
Waymo announced plans to begin testing robotaxis in Seattle and Denver using a mixed fleet of Jaguar I-PACE and Zeekr RT vehicles equipped with its 5th- and 6th-generation autonomous driving systems.
Ford reported a 3.9% YoY jump in August U.S. vehicle sales, driven by strong SUV and truck demand, while EV sales rose 19.3% and hybrid sales climbed 14.5%.
Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️
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WHAT’S ON DECK
Tomorrow’s Top Things 📋
Economic data: ADP Nonfarm Employment Change (8:15 AM), Initial Jobless Claims (8:30 AM), Trade Balance (8:30 AM), S&P Global Composite PMI (9:45 AM), ISM Non-Manufacturing PMI (10:00 AM), Crude Oil Inventories (12:00 PM), FOMC Member Williams Speaks (12:05 PM), Fed’s Balance Sheet (4:30 PM). 📊
Pre-Market Earnings: Ciena ($CIEN). 🛏️
After-Market Earnings: Broadcom ($AVGO), Lululemon Athletica ($LULU), DocuSign ($DOCU), and UiPath ($PATH). 🌕️
P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍
Links That Don’t Suck 🌐
🎩 Florida to end all vaccine mandates, state officials say
Epstein accusers put pressure on Congress to release the files
📺️ Safe-haven gold rally gains further momentum after soft U.S. data
🏠️ What We Know About America’s Billionaires: 1,135 and Counting
🤖 Powerball jackpot soars to $1.3 billion. Here’s what the winner will take home after taxes.
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