Stock Market Update

[BRIEFING.COM] The major averages trade in a stable manner as the market approaches midday. 

While much of today's buzz has centered around Oracle's (ORCL 338.74, +97.23, +40.26%) stellar post-earnings performance, not all of the companies that reported yesterday afternoon or this morning fared as well.

Shares of Synopsys (SNPS 395.59, -208.78, -34.55%) have plummeted after the company reported dismal Q3 results and issued weak guidance for Q4, triggering a wave of downgrades. The stock fell past its 50-day (593.07) and 200-day (511.71) moving averages to its lowest level since early April.

Chewy (CHWY 34.79, -7.31, -17.36%) also trades sharply lower after posting mostly in-line Q2 results and issuing modest guidance revisions.