After the official opening bell ceremony, Eric Yuan, founder of Zoom, poses in front the Nasdaq Building as Zoom's logo is displayed on the screen.
Take a look at the top midday traders.
Zoom shares fell more than 15% following its quarterly report showing slowing revenue growth. This was despite difficult year-over-year comparisons. CNBC spoke with Zoom's CFO who said there were headwinds in the company's mass markets, specifically small businesses and individual consumers. Zoom beat its estimates for earnings and raised its full-year guidance. However, shares fell.
After Jefferies began coverage on Virgin Galactic's space travel stock, shares of Virgin Galactic gained 8.3%. Jefferies' survey of people with more than $1 million in net wealth revealed that a third expressed interest in space travel, and 20% were willing to pay 5%.
Chico's FAS Chico shares fell nearly 17% despite better-than-expected quarterly earnings. Refinitiv consensus estimates for a loss of 8 cents per shares were beaten by an unexpected profit of 21c per share. Wall Street forecasts were also exceeded by revenue.
Designer Brands shares fell by more than 9% despite beating earnings. The quarterly earnings were 56 cents per share compared to the 24 cents per share Refinitiv consensus estimate. Analyst forecasts were also exceeded by revenue.
NetEase Chinese gaming company NetEase saw its stock rise 4.8% after it reported better-than-expected earnings in the second quarter, and revenue that was in line with expectations. The stock dropped Monday after China's National Press and Publication Administration published new rules that limit kids' online gaming time to three hours per week in order to protect their mental and physical health.
Textron Stocks of Textron rose 1.1% following Cowen's upgrade to the stock from market perform. Cowen cited strong demand for business jets as well as a compelling opportunity in electric aircrafts. The price target was raised to $95 per stock by Cowen from $75. This equates to a 32% upside over Textron's Monday closing prices.
Occidental Petroleum shares rose 1.4% following Citi's coverage of the stock. Citi gave the stock a buy rating. In a note to clients, the investment firm stated that the stock had more upside than other energy peers.
Support.com Support.com shares fell 12.3% after a 38% trading session that was fuelled by retail investors who coordinated in Reddit forums. Retail traders may have gathered around this small-cap stock because it has high levels of short interest.
Reporting by Tanaya Macheel and Yun Li of CNBC.
