Stock Market Today: WDC, DDOG Fall as NET Surges

**Sam Vadas** (0:00)
Welcome to The Wrap, I'm Sam Vadas, here to take you through today's market action. Let's take a look at where the markets closed to end the day. Stocks pulled back from the all time highs hit earlier this week as markets awaited developments from the US talks with Iran. The Dow fell almost 1% after a record close on Wednesday. The S&P 500 and the NASDAQ 100 each declined by less than half of a percent. Energy, healthcare and technology were the only sectors in the green, while industrials, materials, real estate were the worst performers. Now let's take a look at some of the stocks on the move. Western Digital fell over 10% after an earnings beat, but guidance did not exceed estimates by enough to please the street. Many sell side notes today mentioning that investors wanted, at a minimum, a match to Seagate's report from Western Digital.
DataDog tumbled nearly 20% after its full year sales guidance came in below Wall Street's estimates. The company says one of the biggest customers is reducing usage, which is weighing on its outlook. It still posted growth in the second quarter, but that wasn't enough to sway sentiment to the upside.
Postmarket shares of Cloudflare surged after strong second quarter earnings and raising its third quarter and full year guidance. Airbnb was up 10% in after hours trading after raising its third quarter outlook and expecting stronger full year growth than prior forecasts. Twilio surged 15% as it posted a double beat and boosted its full year growth range. The trade desk sank 20% after hours after missing on its second quarter earnings and lowering its third quarter outlook well below forecast. Let's take a look at what to watch for tomorrow. The big event comes pre-market as the July jobs report is released at 8.3 Eastern. On the earnings front, we'll hear from Okwo, Take2 Interactive and Under Armour. They're all due to report. That will do it for the wrap. I'm Sam Vadas. Remember to tune in 24x7 to schwabnetwork.com and subscribe to our YouTube channel.