Midday Market Movers: Notable Shifts in Skyworks, Axon, Revvity, and Dave & Buster’s Shares

Chipmakers Skyworks Solutions and Qorvo rebounded from the previous session’s sell-off driven by safety concerns surrounding the artificial intelligence trade. Skyworks shares rose 10%, while Qorvo advanced 7%.

Axon Enterprise shares slid 9% after the Taser manufacturer announced the sale of $1 billion in convertible senior notes.

Revvity shares jumped 7% to reach a fresh 52-week high. The life sciences equipment provider shared its outlook for the remainder of the year at Baird’s healthcare conference. The company ended the second quarter with a strong backlog, and orders that were not completed during that period are expected to ship in the third and fourth quarters.

Dave & Buster’s Entertainment shares plunged 17% after the arcade and restaurant company’s second-quarter results disappointed investors. Reported revenue of $544.1 million missed the $556.8 million FactSet consensus estimate. Adjusted EBITDA of $98.9 million also fell short of the expected $120.4 million. The company posted an unexpected adjusted loss of 27 cents per share, missing the profit of 18 cents a share anticipated by analysts.

Enova International shares tumbled more than 25% after the online provider of loans and credit services said it is withdrawing its regulatory applications for the proposed acquisition of Grasshopper Bancorp. Enova reaffirmed its third-quarter and full-year guidance and announced an intention to accelerate share repurchases.

Sysco shares slid 3% after the wholesale distributor to restaurants, hospitals, and schools announced a common stock offering of 12.3 million shares priced at $81 apiece.

Alignment Healthcare shares tanked 18%. Leadership called out headwinds in its institutional acute business and noted that the length of stays rose in its skilled nursing category. While Alignment does not expect those trends to persist into 2027, the company will not change its 2026 guidance for now.

Waystar shares advanced more than 8%. Reuters reported, citing sources, that the healthcare software provider is exploring a potential sale that could take the company private. The news comes as the stock has shed 17% in 2026. Waystar’s software is used by hospitals and doctors to manage payments.

Crypto-linked stocks fell as Bitcoin and stocks tied to the flagship cryptocurrency tumbled ahead of the Senate’s vote on the Clarity Act, a piece of legislation aimed at creating a regulatory framework for the crypto market. Shares of trading platform Coinbase dropped more than 5%, while shares of crypto miner Riot Platforms slid 4%. Bitcoin treasury play Strategy saw its stock fall 3%.

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