Closing Bell: Mission Produce Jumps, Chip Stocks Tumble, SailPoint Slides

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Griefeld, Carol Massar and Emily Graffeo.

- Mission Produce (AVO) shares jumped as much as 13% on Tuesday, the most intraday since December 2024, after the avocado supplier said fruit supply has “normalized” and per unit margins are recovering after an unusually high avocado supply environment during the second quarter. The company also reported revenue for the second quarter that exceeded expectations.

- SailPoint (SAIL) shares are down 13% in premarket trading, after the software company reported its first-quarter results and gave an outlook. The report showed stronger-than-expected revenue, and the full-year forecast was raised on key metrics, but it may not have been robust enough to extend recent strength in the stock, which is up nearly 70% off an April low, as of last close.

- Major US technology and internet stocks fell on Tuesday, plunging in a broad-based selloff that was the latest example of heavy volatility in the sector. Chip maker Marvell Technology (MRVL) dropped 11%, having rallied 9.6% the previous session on the news that it would join the S&P 500 later this month. Among notable movers: Nvidia -3.9%, AMD -9.9%, Intel -9.1%, Arm -13%, Micron -9.3%, US-listed shares of TSMC -4.7%

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