Latest Stock Market Liveblog Updates: S&P 500 Top Movers, Dotcom Bubble Insight, AI Chip Stock Rally, and More
**S&P 500 Top Movers on Friday**
On Friday, the S&P 500 saw some significant movements among its top performers and decliners. Here are the key highlights:
**Advancers:**
1. **3M**: 3M shares skyrocketed 23.0% to reach their highest level since 2022 after reporting better-than-expected second-quarter profit and sales. CEO William Brown’s focus on organic revenue growth contributed to the positive performance.
2. **Mohawk Industries**: Shares of Mohawk Industries soared 19.5% after beating earnings per share forecasts for the second quarter and receiving an upgrade from Bank of America.
3. **Charter Communications**: The cable and internet provider outperformed expectations in its second-quarter earnings release, with shares jumping 16.6%.
**Decliners:**
1. **Dexcom**: Dexcom shares plummeted 40.7% after missing second-quarter revenue estimates and slashing its sales guidance. Various internal factors contributed to the weaker results and outlook.
2. **Biogen**: Biogen shares sank 7.2% after regulators in Europe rejected the Alzheimer’s treatment Leqembi, developed by the biotechnology firm in partnership with Eisai.
3. **L3Harris Technologies**: Shares of L3Harris Technologies fell 5.7% despite beating profit estimates, as Deutsche Bank downgraded the stock due to a high valuation.
The market movements reflect the ongoing dynamics in various sectors and the impact of company-specific developments on stock performance. Stay tuned for more updates on the financial market trends.