Night movers — Jul 14: Chips rally as IBM's earnings warning crashes the old gua
Thesis
Semiconductor and AI-exposed names led the post-close gains after bullish analyst calls and China chip headlines lifted sentiment across the sector. IBM's brutal Q2 earnings warning dragged down legacy tech and medtech names, creating a sharply bifurcated session. ## Gainers - **LRCX +4.90%** — Morgan Stanley highlighted Lam Research as a top stock pick heading into second-quarter earnings, fueling bullish momentum. The endorsement signaled confidence in the semiconductor equipment maker's upcoming results. - **INTC +4.50%** — A retrospective on Intel investors finally exiting the red since the dot-com bubble drew attention to the stock's valuation turnaround. However, BofA cautioned that Intel faces near-term pain while AMD rides a server boom. - **NVDA +4.06%** — Nvidia rallied after Reuters reported ZTE was among Chinese firms licensed to purchase its H200 chips, easing China crackdown concerns. Micron and Nvidia were also spotlighted as the driving forces behind a $700 billion chip profit boom. - **MS +2.98%** — No matching ingested catalyst was found directly explaining Morgan Stanley's share price move. The supplied news covered Morgan Stanley raising its target on Merchants Bancorp and a Greg Fleming interview about Merrill Lynch, neither of which directly explains MS stock movement. - **AMD +2.57%** — BofA said AMD is riding a server boom while Intel and ARM face near-term pain, boosting optimism around the chipmaker. Analysts also predicted CEO Lisa Su would deliver great news for investors at an upcoming August 4 event. ## Losers - **IBM -25.21%** — IBM stock plummeted more than 25% after the company issued a Q2 earnings warning that stunned investors. The miss pummeled broader software and IT services stocks amid concerns about the sector's health. - **C -5.29%** — Citigroup posted record equities trading revenue of $2.3 billion, up 45% year over year, with EPS of $3.15 beating all estimates. Despite the strong results, the Q2 earnings call highlights suggest lingering concerns weighed on the stock post-report. - **MDT -5.11%** — No matching supplied catalyst was selected. This price move is shown without an attributed news explanation. - **BSX -4.52%** — No matching supplied catalyst was selected. This price move is shown without an attributed news explanation. - **BMY -4.03%** — Trump's drug-pricing deals are reshaping Big Pharma, creating uncertainty for companies including Bristol Myers Squibb. The policy-driven pricing pressure weighed on the stock alongside peers like Pfizer and AbbVie.
Strategy approach
Analyze the 10 liquid tracked names that moved most over the completed U.S. regular session and explain the news-grounded catalysts from the prior 24 hours.