Stock Market Update

[BRIEFING.COM] Not much change since the last update, as the major indices are tracking in a sideways direction near their lows for the session.

While weakness is the story of the day at the index level, there are some individual standouts rising above the fray. Autodesk (ADSK 309.83, +21.34, +7.40%) is the best-performing stock in the S&P 500 following its earnings report.

Other big winners following their earnings reports include Elastic (ESTC 86.14, -1.65, -1.88%), Alibaba (BABA 133.41, +13.84, +11.57%), Affirm (AFRM 89.58, +9.59, +11.99%), Ambarella (AMBA 83.94, +13.32, +18.85%), SentinelOne (S 18.42, +0.82, +4.63%), and Petco Health and Wellness (WOOF 3.96, +0.73, +22.60%).

On the flip side, Dell (DELL 122.83, -11.22, -8.37%) is the biggest laggard in the S&P 500 after seeing some gross margin pressure in its fiscal Q2 and issuing fiscal Q3 EPS guidance that was mostly below the consensus estimate. Oracle (ORCL 224.44, -15.88, -6.61%), which had risen as much as 120% from its April 7 low, is next in line among the biggest losers in the S&P 500 and is followed by Ulta Beauty (ULTA 497.24, -33.39, -6.29%), which adopted a cautious tone in discussing its second-half outlook, citing ongoing uncertainty around consumer spending.