Stock Market Update
07-May-26 14:30 ET
S&P 500 slips as earnings hit ZTS, TPR; Axon surges on raised outlook and strong demand moment
Dow -272.78
at 49637.81,
Nasdaq -40.48
at 25798.46,
S&P -29.51
at 7335.61
[BRIEFING.COM] The S&P 500 (-0.40%) is in second place on Thursday afternoon, down about 30 points.
Briefly, S&P 500 constituents Zoetis (ZTS 89.28, -21.94, -19.73%), Tapestry (TPR 132.26, -16.57, -11.13%), and Ciena (CIEN 521.49, -55.30, -9.59%) pepper the bottom of the average. ZTS and TPR fall after reporting earnings, while CIEN slides off recent all-time highs (shares were up +146% YTD into this morning's open).
Meanwhile, Axon (AXON 424.45, +38.59, +10.00%) is outperforming after reporting Q1 results that slightly beat expectations and, more importantly, raising its FY26 revenue growth outlook to 30-32% from 27-30%, signaling stronger demand momentum. The company also guided to solid cash flow generation and stable margins, reinforcing confidence in its ability to fund aggressive expansion and long-term R&D investments.
