Stock Market Today: MU Earnings Beat, HPE Gets AMD Order, BA Navy Contract

Sam Bardis (0:00)

Welcome to The Wrap. I'm Sam Bardis. Here to take you through today's market action. Stocks closed mixed in Wednesday's session with the Nasdaq 100 rising a quarter point, the S&P 500 falling a quarter of a point, while the Dow dropped nearly 1%.

Tech and communications were the only positive sectors, while staples, healthcare, industrials, real estate and financials all dropped over 1% for the month of September. The Nasdaq 100 gained over 3% for the month, Dow dropped 4% and the S&P 500 slipped half a percent.

Micron shares were little changed after hours, despite reporting better than expected. Fourth quarter results adjusted earnings coming in at $33.42 per share on $54 billion worth of revenue, both above Wall Street estimates. Revenue surged 379% from a year ago, driven by strong demand for memory and storage chips used in AI data centers. Boeing closed down 1% despite getting a big win from the US. Navy. The aerospace giant has been awarded a $20 billion contract by the Pentagon to develop the next generation of fighter jets for both the Navy and Air Force. Boeing beat out Northrop Grumman to win the deal. HPE rallied 5% after announcing it had secured its first order to deploy its AMD Helios AI rack by HPE Systems. The $1.2 billion order from Volta comes as HPE held its Investor Day today. Management also raised its full year 27 networking segment revenue growth outlook to between the high teens and low 20s contributing to that move higher. Let's take a look at what to watch on Thursday. Weekly jobless claims. PMI manufacturing and ISM manufacturing data will be released while Accenture, McCormick and Nike report earnings. That will do it for the wrap. I'm Sam Vardas. Remember to tune in 24-7 to schwabnetwork.com and subscribe to our YouTube channel.