Drone companies including AeroVironment, Aevex, and Unusual Machines rose on news that the Trump administration plans to apply a 100% tariff on imports of unmanned aircraft systems and their components. Applied Materials fell despite an earnings forecast that topped estimates, with investors showing a muted reaction even though the stock has more than doubled this year. Gemini Space Station fell as the crypto platform's earnings report faced crypto market headwinds and a wider-than-expected adjusted EBITDA loss. Reddit climbed on news that the stock is set to be included in the S&P 500 index.
