Major U.S. stock indexes were mixed Tuesday. The technology and communications sectors outperformed ahead of a flurry of earnings reports, but other sectors, including energy and utilities, lost ground.

The S&P 500 closed the session up 0.2%. Strength in the technology sector helped the Nasdaq gain 0.8%, taking the index to an all-time closing high. The Dow did not fare as well, falling 0.4%.

Cadence Design Systems shares (CDNS) jumped 12.5% ​​on Tuesday to the best daily performance of any S&P 500 stock after the electronic design automation company reported better-than-expected quarterly results and improved its full-year forecast . Revenue from the company’s Cadence.AI portfolio, which integrates generative AI and big data analytics into design processes, more than tripled year over year.

Although Incyte (INCY) reported third-quarter profits below analysts’ forecasts, the pharmaceutical company’s revenue for the period beat expectations and its shares jumped 12.0%. Incyte said its two key products – cancer drug Jakafi and topical eczema treatment Opzelura – benefited from strong demand and strong sales trends during the period.

F5 Application Delivery Company (FFIV) reported higher quarterly sales and profits for its fiscal fourth quarter, and its shares jumped 10.1%. F5’s CEO touted the company’s transformation from a hardware focus to a security and software solutions provider better suited to today’s hybrid and cloud technology environment.

Leidos Holdings (LDOS) shares added 9.5% after the IT services provider beat consensus estimates with its third-quarter sales and profit. The strong bookings numbers for the quarter also suggest that Leidos is poised for additional growth, and the company has raised its outlook for the full year. Securing major defense contracts in the United States contributed to the strong performance and optimistic guidance.

Shares of tool maker Stanley Black & Decker (SWK) fell 8.8%, the biggest drop in the S&P 500, following a disappointing quarterly update. The company said weak consumer and auto industry demand weighed on its performance, contributing to a shortfall in quarterly earnings and sales. Tuesday’s drop plunged Stanley Black & Decker into the negative for 2024.

Ford engine (F) shares skidded Tuesday, falling 8.4% after the automaker announced lower-than-expected third-quarter profits. Following the earnings miss, JPMorgan and Bank of America cut their price targets on Ford shares. However, analysts pointed to some reasons for optimism, noting that high warranty expenses contributed to the revenue shortfall and highlighting the potential of the Ford Pro division.

Home builder DR Horton (DHI) reported year-over-year decline in revenue and net profitbelow the estimates on the top and bottom lines. The company also issued lower-than-expected full-year sales forecasts, indicating it is seeing pressure from potential buyers who are waiting for lower mortgage rates. Shares of DR Horton fell 7.2%.