Cisco, SpaceX, Cerebras, Infleqtion, Coherent draw trading focus
Cisco, SpaceX, Cerebras, Infleqtion and Coherent were active in trading after Cisco, Cerebras, Infleqtion and Coherent reported quarterly results, while SpaceX disclosed Starlink subscriber growth.
Major U.S. indices closed mixed on Wednesday, with the Dow Jones Industrial Average slipping 0.04% to 53,770.27, while the S&P 500 gained 0.26% to 7,748.50 and the Nasdaq advanced 0.54% to 26,588.48 July CPI rose 3.4% year over year, easing from June's 3.5%, while core inflation slowed to 2.5% from 2.6%, with both readings matching expectations.
Monthly inflation rose 0.1%, as lower energy and gasoline prices offset increases in shelter and services, while market expectations for a September Fed rate hike fell to 43% from 54.4% a week earlier.
These are the top stocks that gained the attention of retail traders and investors through the day.
Cisco Systems Inc. (NASDAQ: CSCO ) Cisco's stock rose by 2.86% to close at $123.88, reaching an intraday high of $124.45 and a low of $122.26.
The stock's 52-week range is between $65.75 and $130.37.
In after-hours trading, the stock fell 4.07% to $118.84.
Cisco reported fourth-quarter revenue of $17.25 billion, surpassing analyst estimates of $16.82 billion.
The company's adjusted earnings of $1.22 per share also exceeded expectations.
Cisco highlighted a "networking supercycle" as a key driver of its success, with total product orders increasing by 35% year-over-year.
The company experienced double-digit growth across all geographies and customer markets, indicating strong demand for its technology.
The company guided for fiscal first-quarter revenue of $18 billion to $18.2 billion and adjusted EPS of $1.32 to $1.34, both above analyst estimates.
For fiscal 2027, the company expects revenue of $72.2 billion to $73.4 billion and adjusted EPS of $5.05 to $5.11, also ahead of expectations.
Read Also: Cathie Wood Calls Bitcoin 'Critical' Financial Infrastructure: 'Those Securing It Should Have Trusted Access to the Most Powerful AI Models' Space Exploration Technologies Corp. (NASDAQ: SPCX ) SpaceX shares surged 9.65% to $146.15, hitting an intraday high of $149.60 and a low of $134.01.
The stock's 52-week range is between $104.83 and $225.64.
The company announced that its Starlink service now serves over 13 million consumer subscribers, up from 12 million as of June 30.
SpaceX also supports approximately 22 million monthly Starlink Mobile users through partnerships with 36 mobile network operators, extending coverage to 167 markets.
The company's Falcon 9 and Falcon Heavy rockets have deployed over 90% of all mass placed into orbit worldwide, solidifying SpaceX's position as a leading launch service provider.
Cerebras Systems Inc. (NASDAQ: CBRS ) Cerebras Systems saw its stock jump 11.63% to $262.06, with an intraday high of $265.63 and a low of $240.88.
The stock's 52-week range is between $160.81 and $385.
In after-hours trading, the stock crashed 16.61% to $218.53.
Cerebras reported a second-quarter GAAP loss of $2.98 per share and revenue of $180.11 million, missing the $194.2 million analyst estimate.
However, core revenue more than doubled to $210 million, while its cloud business nearly quadrupled year-over-year.
Infleqtion Inc. (NYSE: INFQ ) Infleqtion's stock increased by 4.57% to $12.36, matching its intraday high and with a low of $11.83.
The stock's 52-week range is between $8.52 and $21.28.
In after-hours trading, the stock rose 2.83% to $12.01.
The company reported second-quarter revenue of $12.63 million, beating analyst estimates of $10.64 million.
Despite missing earnings per share estimates, Infleqtion highlighted a 116% year-over-year revenue increase, driven by quantum technology.
CEO Matt Kinsella emphasized the accelerating pace of quantum commercialization and the company's efforts to build applications with customers as they prepare for the next generation of quantum systems.
Coherent Inc. (NYSE: COHR ) Coherent shares rose 8.24% to $355.64, with an intraday high of $362.06 and a low of $338.73.
The stock's 52-week range is between $84.35 and $440.
The stock fell 2.71% to $345.99 in extended trading.
The company reported quarterly earnings of $1.74 per share, beating the consensus estimate of $1.61.
Quarterly revenue reached $2.05 billion, surpassing analyst expectations and marking an increase from $1.53 billion in the same period last year.
CEO Jim Anderson highlighted record revenue, significant margin expansion, and non-GAAP EPS growth that more than doubled the rate of revenue growth, despite the stock's slip.
Edge Stock Rankings indicate Cisco stock has a Momentum score in the 91st percentile and Value score in the 14th percentile.
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