Three technology companies—Grid Dynamics Holdings (GDYN), Western Digital (WDC), and Confluent (CFLT)—received bullish analyst ratings. J.P. Morgan, TD Cowen, and other firms assigned Buy ratings with price targets ranging from $13.00 to $31.00, reflecting optimism about their stock potential.

Capital One Financial reduced its rating for Confluent (NASDAQ:CFLT) from strong-buy to hold, while other analysts maintained or adjusted their ratings. Confluent reported quarterly earnings exceeding estimates, with revenue up 20.1% YoY. Insiders sold shares, and institutional investors adjusted their positions in the company.

The article discusses a market sell-off triggered by the White House's announcement of new global tariffs and a weak July jobs report, leading to declines in stocks of several tech companies including 8x8, Monday.com, Confluent, ON24, and Dayforce. The tariffs and economic concerns created a 'risk-off' environment, prompting investors to avoid growth sectors.

The article highlights updates from several technology and business firms, including TD Synnex expanding refurbished PC offerings, Insight reporting Q2 financial results, Kite Distribution partnering with DigiCert, Cynomi launching a new partner program after a $37m funding round, Fortinet surpassing 3,000 integrations in its partner program, and Confluent investing $200m in partner growth.

Several tech stocks, including Datadog, Palo Alto Networks, Sprout Social, Monday.com, and Braze, fell in the afternoon session following Confluent's disappointing quarterly results, which signaled broader challenges in the tech sector. The market reacted to concerns about cloud spending optimization, AI-native client shifts, and revenue guidance misses, leading to significant share price declines.