US Open: Earnings season drives stock market gains 🗓📣

Major U.S. stock indices opened Wednesday’s session in the green, continuing the rally that has been underway since the start of the week. The relatively upbeat market sentiment is primarily driven by strong quarterly earnings from tech and industrial companies, many of which have exceeded analysts’ expectations. The standout performers among the latest reports include Astera Labs and Arista Networks, while AMD and Super Micro Computer lag behind.

Futures were already trending higher in early local trading and held their gains just before the cash session opened. Investors are pricing in positive earnings surprises as well as growing hopes for a “soft landing” of the U.S. economy in the second half of the year.

US100 (1H timeframe)

Nasdaq 100 (US100) futures attempted a rebound after a sharp correction at the start of the week, though the price remains below the key 100-period EMA, which serves as significant resistance. Today’s move is clearly bullish, and a test of this EMA is underway. In the coming days, a retest of early August levels is likely, suggesting the market is currently in a consolidation phase.

Source: xStation5

Company News:

Astera Labs (ALAB.US) gained 27.90% after surprising investors with strong Q2 2025 results that exceeded analysts’ expectations. Revenue surged 150% y/y to USD 191.9 million, while net income reached USD 51.2 million, up 238% from the same period last year. The company also issued a Q3 forecast of USD 206.5 million in revenue, above market consensus.

Uber (UBER.US) fell 1.50% despite beating Q2 expectations. Revenue rose 16% y/y to USD 10.7 billion, and net income came in at USD 1.02 billion, more than doubling year-over-year. The company also announced a USD 20 billion share buyback program, which was positively received by the market.

Arista Networks (ANET.US) rose 12.8% in premarket trading after posting strong Q2 results. Revenue increased 30% y/y to USD 2.205 billion, and EPS came in at USD 0.73, up 38% from a year earlier. The company raised its full-year revenue guidance from 17% to 25% growth, signaling strong demand for its data center and cloud infrastructure solutions.

Walt Disney (DIS.US) rose 2.5% after announcing a deal with the NFL to acquire NFL Network in exchange for a 10% stake in ESPN. While Q3 financial results beat expectations, investors remain cautious due to the ongoing decline in paid TV subscribers, which could impact future media segment revenues.

AMD (AMD.US) dropped 5.6% after posting Q2 results that were viewed as “mixed.” Despite revenue growth, analysts flagged concerns over increasing competition, particularly from Chinese firms, and the lack of clear guidance on resuming sales in the Asia-Pacific region.

Super Micro Computer (SMCI.US) fell 17.0% after its Q2 results came in below analysts’ expectations. The company lowered its full-year revenue forecast, citing delays in AI server orders—possibly indicating a slowdown in investment.