WMT Tumbles 6% on Outlook Miss; Crypto Stocks Surge 8-10%

Moderna opened 10% lower Thursday, retracing some of Wednesday's 177% gain after the company and Merck reported promising melanoma vaccine trial results. Traders called it profit-taking on a move that had no follow-through catalyst before the next data readout.

Coinbase rose 8%, Robinhood 5.8%, and Strategy 10% after President Donald Trump urged Congress to pass comprehensive crypto legislation. Bitcoin jumped 9% to around $71,000, its highest since June 2. The Treasury Department added to the bid by expanding planned longer-maturity Treasury repurchases to at least $4 billion per operation, pushing long-end yields lower.

Circle Internet Group gained 5%; Riot Platforms and Mara Holdings each rose 3% to 5%.

Walmart fell 6.1% despite raising its full-year forecast. The revised outlook still trailed analyst consensus, overshadowing a clean second-quarter earnings beat. The stock's slide dragged the consumer staples sector.

Alibaba dropped 1.9% after fiscal first-quarter results missed estimates. AI revenue growth was strong, the company said, but not enough to offset the broader miss.

Webull was Thursday's standout, surging 14% after reporting record Q2 revenue of $198.8 million, above the $180.7 million analysts expected. Equity trading activity rose 73% from a year earlier.

Ultragenyx Pharmaceutical jumped 12% after the FDA granted accelerated approval to Genglycos, its gene therapy for glycogen storage disease. The drug is the first to target the root cause of the rare metabolic disorder.

Wolfspeed slid 10% after posting a quarterly adjusted loss of $2.26 a share, well wider than the $1.47 consensus.

Coty fell about 9% to 10% after forecasting a larger-than-expected loss and projecting lower revenue and gross margin for the current quarter.

Deere bucked the broader selloff, rising 1.2% on a better-than-expected fiscal third quarter.

Index futures weakened as Brent crude climbed above $92 a barrel on heightened Middle East tensions, keeping inflation worries in focus. The S&P 500 futures were down 0.3% in early trading.

WMT shows an Alpha Score of 65/100, rated Moderate, according to AlphaScala's proprietary model. MRNA scores 52/100, rated Mixed. BABA scores 51/100, also Mixed. The crypto-sector rally pushed several names into overbought territory on the daily RSI, traders said, raising the risk of a pullback if Bitcoin fails to hold $70,000 through the New York close.