Cisco Systems dropped 2% after HSBC downgraded its rating to hold and cut its price target to $120 from $137. Drone manufacturers rallied after Trump imposed import tariffs on foreign-made drones, with Unusual Machines surging 24%, Red Cat gaining 8%, and AeroVironment jumping 2%. Reddit surged 12% following its addition to the S&P 500 starting August 18. Applied Materials fell 5% after disappointing quarterly results, while Sandisk rose 6% following a JPMorgan upgrade. York Space Systems plunged 12% due to earnings missing estimates and a full-year guidance cut.
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