The S&P 500’s top gainers on July 26 were:
- Advanced Micro Devices (AMD) gained 14.33%.
- Arconic (ARNC) gained 11.01%.
- D.R. Horton (DHI) gained 10.88%.
- Xilinx (XLNX) gained 9.59%.
- Alaska Air Group (ALK) gained 9.56%.
Advanced Micro Devices
Advanced Micro Devices, which develops computer processors and related technologies for business and consumer markets, was the S&P 500’s top gainer on July 26. Advanced Micro Devices started this week on a stable note and declined as the week progressed. However, Advanced Micro Devices opened higher on Thursday and rose to 11.5-year high price levels.
Strong second-quarter earnings
The buying pressure in Advanced Micro Devices increased on Thursday amid the release of the stronger-than-expected second-quarter earnings report. The revenues in the second quarter were $1.76 billion—53% growth YoY (year-over-year). The revenues were higher than analysts’ estimated revenues of $1.72 billion. The revenues from the computing and graphics segment rose 64% YoY in the last quarter to $1.09 billion. The enterprise, embedded, and semi-custom segment recorded revenues of $670 million—37% growth YoY.
The non-GAAP EPS in the second quarter was $0.14—better than the non-GAAP EPS of -$0.01 reported in the same period a year ago. The second quarter non-GAAP EPS also beat analysts’ estimate of $0.13. In the third quarter, the sales growth in Ryzen and EPYC CPUs are expected to offset the declining sales of GPUs used in cryptocurrency mining. Management expects the third-quarter revenues to be ~$1.7 billion—7% growth compared to the revenues in the third quarter of 2017.
Amid the improved sentiment on July 26, Advanced Micro Devices gained 14.33% and closed the day at $18.35. Advanced Micro Devices is part of the NASDAQ Composite Index (QQQ), which declined 1.01% on Thursday.
Next, we’ll discuss the S&P 500’s top losses on July 26.