Nasdaq Stays Strong, but These 2 Stocks Are Weighing on the Market Friday

The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been doing extremely well lately, climbing to an all-time high on Thursday. Moreover, even amid rising concerns about the spike higher in COVID-19 cases in Europe, the Nasdaq looked poised to move higher again on Friday. As of 8:30 a.m. ET, Nasdaq futures were up another 74 points to 16,555.

Yet there were some stocks that trade on the Nasdaq that contributed to the broader market's lack of conviction on Friday morning. Both Workday (NASDAQ: WDAY) and Applied Materials (NASDAQ: AMAT) saw significant declines in their share prices as the two businesses reported financial results that failed to satisfy their investors. Below, we'll look more closely at what Workday and Applied Materials said and how their reports could affect broader market sentiment.

Shares of Workday were down more than 7% in premarket trading Friday morning. The software-as-a-service human resources platform provider continued to see solid growth, but it fell short of the ambitious targets many shareholders had set for the company.

Source Fool.com