WD-40 emerged as Friday’s top performer, while technology stocks experienced pullbacks as market participants secured profits from Thursday’s session.
Nasdaq 100 futures decreased 0.3%, dragging several technology leaders lower ahead of the market open.
Intel declined 3.5% while Micron retreated 2.7% during premarket activity. These semiconductor giants had demonstrated strong performance throughout 2026 prior to Friday’s downturn.
Corning decreased 0.7%, Marvell Technology shed 1.6%, and Sandisk tumbled 3.8%. These companies had all benefited from the artificial intelligence momentum during previous trading sessions.
The declines followed Thursday’s robust market performance. Market participants utilized Friday’s session as an opportunity to realize recent profits instead of extending the upward trajectory.
WD-40 claimed the title of Friday’s strongest performer, jumping approximately 15% following exceptional fiscal third-quarter financial results.
The household products manufacturer delivered adjusted earnings of $2.33 per share alongside revenue totaling $195.1 million. Revenue increased 24% year-over-year, surpassing analyst expectations across both metrics.
WD-40 provided fiscal year 2026 guidance, projecting revenue between $675 million and $690 million. The company anticipates non-GAAP earnings per share ranging from $6.05 to $6.35, exceeding the Wall Street consensus estimate of $5.99.
Executives revised gross margin projections downward, attributing the adjustment to elevated costs and product classification changes. Nevertheless, management indicated that pricing strategies and cost reduction measures should yield significant benefits throughout 2027.
Vodafone shares advanced approximately 10% following UAE telecommunications firm e&’s agreement to divest its 16.21% ownership position to an entity associated with French billionaire Xavier Niel’s family investment group for $5.95 billion.
The transaction was executed at 112.5 pence per share and should produce roughly $1.3 billion in net cash proceeds for e&. Post-transaction, e& confirmed it would relinquish its board representation at Vodafone.
Netflix increased 0.5% after the Wall Street Journal disclosed that company executives had explored incorporating live television channels and streaming package options into its service offering.
Solaris Energy Infrastructure appreciated approximately 3% following S&P Dow Jones Indices’ announcement that the firm will be added to the S&P SmallCap 600 index, with the inclusion effective July 15.
Fermi ranked among Friday’s weakest performers, plunging 22% after announcing an expanded $375 million convertible notes offering priced at a 30% premium relative to its July 9 closing price.
The convertible notes feature a 5% annual coupon rate and reach maturity in July 2031. The offering is scheduled to finalize on July 14, 2026.
Market sentiment Friday experienced additional pressure from emerging reports regarding escalating military confrontations between the United States and Iran, disrupting critical international shipping routes and generating renewed inflationary concerns.
The post Market Wrap: WD-40 Soars 15% While Tech Giants Intel (INTC) and Micron (MU) Retreat appeared first on Blockonomi.
