Stock Market Update
22-Jul-26 12:05 ET
Notable post-earnings laggards
Dow +172.30
at 52396.94,
Nasdaq -11.77
at 25846.44,
S&P +12.13
at 7521.33
[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (-0.1%), and DJIA (+0.3%) now lean mostly higher at midday.
The latest batch of earnings reports included some notable misses, including GE Vernova (GEV 1001.54, -77.27, -7.16%). The stock is trading sharply lower despite a Q2 report that reinforced the strong tailwinds from rising global electricity demand, including robust demand for gas turbines, grid equipment, and data center infrastructure. GAAP EPS of $2.47 missed expectations, while revenue jumped 21.9% year-over-year to $11.10 billion, nicely above expectations.
Pegasystems (PEGA 26.36, -4.58, -14.79%) is another laggard after missing both EPS and revenue expectations. The company said unprecedented changes in the AI market caused clients to delay their purchasing decisions, which has weighed on the broader software space today. The iShares Expanded Tech Software ETF (IGV) is down 2.5%.
