Market context: Stocks snapped back from Wednesday’s selloff: the S&P 500 rose 1.7%, the Nasdaq 2.8%, and the Dow 1.2%. The watchlist was split by earnings—Amazon surged after its report, while Reddit fell sharply after hours despite strong reported growth.
Regular closes and five-session comparisons are from Yahoo Finance. After-hours indications were checked near 5:00 PM PT and are indicative only.
Microsoft (MSFT)#
- Close: $451.10, up 15.5%; after hours $448.47 (-0.6%).
- Price context: Up about 18% over five sessions—a decisive earnings-driven breakout. At 19% below the 52-week high and 29% above the low, it has moved into the upper range.
- What mattered: Wednesday’s fiscal Q4 release showed Azure growth of 43% and drove the re-rating; Thursday’s advance confirmed the market’s favorable read (Microsoft results).
- Stance: Hold — medium confidence. The fundamental read is excellent, but a two-day, high-teens move has materially reduced the near-term margin of safety.
Reddit (RDDT)#
- Close: $178.04, essentially flat; after hours $159.50 (-10.4%).
- Price context: Up roughly 5.5% over five sessions, but still chopping sideways rather than breaking out. At 37% below the 52-week high and 49% above the low, it remains mid-range.
- What mattered: Q2 revenue grew 61% to $805 million, DAUq rose 18% to 130.3 million, and Q3 revenue guidance was $860–870 million (SEC-filed release). The after-hours selloff says the result/guidance bar was higher than the headline growth alone.
- Stance: Hold — medium confidence. Operating momentum is unusually strong, but the post-report price reaction argues for waiting for the call and the next regular-session verdict.
Cloudflare (NET)#
- Close: $283.39, up 4.8%; after hours $283.39 (flat).
- Price context: Up about 8% over five sessions—grinding higher into a test of the highs. At just 3% below the 52-week high and 78% above the low, NET is near highs.
- What mattered: NET participated in Thursday’s software/AI rebound without a fresh company disclosure. Q2 results are due after the close August 6.
- Stance: Hold — medium confidence. Momentum is strong, but a near-high valuation setup needs an excellent earnings confirmation.
Amazon (AMZN)#
- Close: $235.50, up 3.9%; after hours $257.95 (+9.5%).
- Price context: Up roughly 0.8% over five sessions—a volatile sideways-to-recovery stretch after the prior pullback. At 15% below the 52-week high and 20% above the low, it remains mid-to-lower range at the close.
- What mattered: Q2 net sales rose 20%, AWS sales accelerated 37%, and operating income rose 43%; Q3 guidance calls for $197–202 billion of sales and $22.5–26.5 billion of operating income (SEC-filed release). The strong after-hours response centers on the AWS acceleration.
- Stance: Buy — medium-high confidence. The cloud growth re-acceleration and still-sub-peak closing range make the fundamental setup more attractive, despite the after-hours gap.
Meta Platforms (META)#
- Close: $539.03, down 8.0%; after hours $542.78 (+0.7%).
- Price context: Down about 11% over five sessions—a sharp rollover. At 32% below the 52-week high and only 4% above the low, META is near lows.
- What mattered: The regular session extended Wednesday evening’s post-results reset as investors weighed the softer outlook and elevated AI spending. There was no material recovery in extended trading.
- Stance: Hold — medium confidence. The range placement is now compelling, but the market needs evidence that the spending cycle will translate into returns before a more aggressive add.
Bottom line: Thursday repaired the broad tape, but earnings reshaped the portfolio: MSFT’s move is now confirmed, AMZN’s AWS acceleration is the strongest fresh positive, and RDDT’s after-hours reaction is the immediate risk to monitor. NET reports next Wednesday; META remains the group’s clearest technical repair project.