Arista Networks Stock Surges, Supermicro Plunges After Earnings Reports

Major U.S. equities indexes pushed higher in the midweek trading session, bolstered by strength in the tech sector following reports that Apple (AAPL) was preparing to announce major investments in domestic manufacturing.

The S&P 500 advanced 0.7% on Wednesday. The Dow was up 0.2%, while the tech-heavy Nasdaq Composite powered 1.2% higher.

Arista Networks (ANET) shares secured Wednesday’s top performance in the S&P 500 with a surge of 17.5%, reaching a record high. The maker of computer networking equipment reported better-than-expected year-over-year revenue growth of 30% for the second quarter, while net profit per share was up 35% from a year ago, reflecting an expansion in gross margins and also topping analysts’ forecasts. Strong demand related to artificial intelligence and cloud computing helped drive Arista’s solid performance. The company also raised its full-year revenue guidance, and an array of Wall Street analysts raised their price targets on Arista stock following the earnings report.

Shares of Assurant (AIZ) jumped 11.2% after the insurance firm surpassed forecasts with its second-quarter revenue and net operating income results. The specialist in protecting consumers’ major purchases—from homes and automobiles to connected devices—benefitted from strength across its global lifestyle and global housing segments. Gains in net earned premiums, fees and other income, and net investment income contributed to the Assurance’s performance.

Match Group (MTCH) shares climbed 10.5% in the wake of the online dating platform operator’s quarterly earnings release. While earnings per share matched expectations, revenue came in ahead of forecasts. Match Group’s new CEO Spencer Rascoff highlighted the positive momentum of the company’s Hinge app, which generated a 25% jump in revenue from the year-ago period and a 20% increase in monthly active users in the first half of 2025. Since its launch in March, Hinge’s AI-powered algorithm has helped boost matches and contact exchanges on the platform.

Shares of Super Micro Computer (SMCI) suffered the steepest decline of any S&P 500 constituent on Wednesday, plunging 18.3%. The server maker’s revenue and adjusted earnings per share for its fiscal fourth quarter came in below consensus estimates. Supermicro cited tariff-related costs, specification changes from a major customer, and constraints on capital that hindered its capacity to scale up production as factors behind the lackluster quarterly results.

NRG Energy (NRG) shares dropped 13.6% following the power generator’s quarterly earnings disclosure. Although the company’s revenue and adjusted profits came in ahead of expectations, NRG reported a GAAP net loss, reflecting non-recurring charges for legal issues and unrealized non-cash losses related to economic hedges. Although NRG said it will supply power to data centers at two company-owned sites in Texas, analysts suggested the plans were small compared with major data center agreements announced by competitors like Constellation Energy (CEG).

Mosaic (MOS), a producer of crop nutrients for agricultural markets, reported lower-than-expected revenue and adjusted profit for the second quarter. A year-over-year decline in phosphate volumes pressured Mosaic’s performance during the period, and the company noted that tariffs were having an impact on its business. Mosaic shares tumbled 13.3% on Wednesday.