What Happened?
A number of stocks jumped in the after-market session after the July jobs report showed an unexpected loss of 23,000 jobs, signaling a cooling labor market. Economists had forecast a gain of around 80,000 nonfarm payrolls. According to the U.S. Bureau of Labor Statistics, the unemployment rate held steady at 4.1%. This weaker-than-expected data led investors to bet on the possibility of an interest rate cut by the Federal Reserve. The logic, often described as "bad news is good news" for the market, suggests that a slowing economy could deter the central bank from further rate hikes, and potentially encourage cuts to stimulate growth. This outlook generally makes borrowing cheaper for companies and increases the relative attractiveness of stocks.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Construction and Maintenance Services company Tutor Perini (NYSE: TPC) jumped 2.9%. Is now the time to buy Tutor Perini? Access our full analysis report here, it’s free.
- HVAC and Water Systems company AAON (NASDAQ: AAON) jumped 5.1%. Is now the time to buy AAON? Access our full analysis report here, it’s free.
- Waste Management company Onterris (NYSE: ONT) jumped 14.4%. Is now the time to buy Onterris? Access our full analysis report here, it’s free.
- Waste Management company Quest Resource (NASDAQ: QRHC) jumped 9.9%. Is now the time to buy Quest Resource? Access our full analysis report here, it’s free.
- Renewable Energy company Blink Charging (NASDAQ: BLNK) jumped 11.9%. Is now the time to buy Blink Charging? Access our full analysis report here, it’s free.
Zooming In On Onterris (ONT)
Onterris’s shares are extremely volatile and have had 31 moves greater than 5% over the last year. But moves this big are rare even for Onterris and indicate this news significantly impacted the market’s perception of the business.
Onterris is down 30.1% since the beginning of the year, and at $17.39 per share, it is trading 44% below its 52-week high of $31.06 from August 2025. Investors who bought $1,000 worth of Onterris’s shares 5 years ago would now be looking at only $347.23.
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