After-hours trading saw a mixed session Tuesday as traders digested a busy slate of earnings reports and positioned for Wednesday’s economic data. Micron (MU) held steady near the $1 trillion market cap mark it breached during regular trading, settling at $89.40 in extended hours — up 0.3% — as the AI memory trade continues to attract institutional accumulation. The broader tape was quiet but certain sectors saw notable movement.
The headline after-hours story comes from cybersecurity. CrowdStrike Holdings (CRWD) jumped 4.2% in extended trading after reporting fiscal Q1 earnings that beat consensus on both revenue and EPS. Revenue came in at $1.06 billion, above the $1.02 billion analyst estimates, while adjusted EPS of $0.98 topped the $0.91 consensus. The company raised its full-year guidance, citing accelerating demand for its Falcon platform as enterprise AI adoption drives a wave of new security spending. Palo Alto Networks (PANW) rode the coattails, gaining 1.8% in sympathy, while Zscaler (ZS) added 2.1%.
On the downside, energy names continued their modest after-hours drift. ExxonMobil (XOM) slipped 0.4% and Chevron (CVX) was off 0.3% as WTI crude futures eased another 0.5% following the regular session’s decline. The moves were modest — traders note the sector remains well-supported by the summer demand narrative, and today’s profit-taking is viewed as healthy consolidation after a strong three-week run. Diamondback Energy (FANG) was flat despite reporting a production beat after the bell, with the market apparently focused on the macro oil price trajectory rather than company-specific results.
Economic data due Wednesday morning includes MBA mortgage applications (7:00 AM ET) and the April durable goods orders report (8:30 AM ET). Consensus expects durable goods to show a 0.8% MoM decline, driven by weakness in aircraft orders, but core capital goods orders — a proxy for business investment — are forecast to rise 0.3%. Fed Governor Christopher Waller is also scheduled to speak at 1:00 PM ET, and markets will parse his remarks for any shift in the rate-cut timeline narrative.
