Tuesday's U.S. equity session saw a wide dispersion of performances across market-cap brackets, with several notable losers among mega-cap technology and semiconductors and outsized winners among some large-, mid- and small-cap names driven by earnings reports, analyst moves and clinical trial updates.
Mega-cap movers (market cap $200B+)
- Arm (ARM) - The stock fell sharply, down 7.57% in the session.
- Applied Materials Inc (AMAT) - Shares declined 5.48%.
- Arista Networks (ANET) - The stock eased 5.19%.
- Avago Technologies (AVGO) - Declined 4.72%.
- Micron Technology (MU) - The stock moved lower by 3.48%; DA Davidson initiated coverage with a buy rating citing AI memory demand.
- Lam Research Corp (LRCX) - Shares slid 3.65%.
- GE Vernova LLC (GEV) - The stock dropped 3.68%.
- Kla-tencor Corp (KLAC) - Declined 3.55%.
- Coca-Cola Co (KO) - One of the exceptions among mega-caps, KO rose 5.45%.
- UnitedHealth Group (UNH) - Also an outlier, UNH climbed 3.77%.
Large-cap movers (market cap $10B-$200B)
- Rambus Inc (RMBS) - The biggest decliner in this group, Rambus fell 20.71% after Baird downgraded the stock, citing concerns tied to a DRAM shortage.
- Spotify Technology (SPOT) - The stock slipped 13.46%.
- Pentair (PNR) - Shares dropped 11.09%.
- Zimmer Holdings (ZBH) - Although ZBH beat Q1 estimates and raised guidance, the stock was listed with a 10.75% move to the downside in the day's movers list.
- Vicor Corp (VICR) - Fell 8.79%.
- Iris Energy (IREN) - Declined 9.25%.
- FormFactor (FORM) - Down 7.90%.
- Sanmina-SCI Corp (SANM) - Moved higher sharply, with the firm noted as soaring 12.5% on a Q2 earnings beat and strong guidance; the movers list shows a 13.64% gain.
- Centene (CNC) - The stock rose after an earnings beat and raised guidance, listed with a gain of 13.93%.
- Revolution Medicines Inc (RVMD) - Advanced 10.84%.
Mid-cap movers (market cap $2B-$10B)
- Erasca (ERAS) - The company reported positive early trial data for a pan-RAS drug; its shares plunged 47.81% in the session.
- Live Oak Acquisition (NVTS) - Fell 16.72%.
- Relay Therapeutics Inc (RLAY) - Down 11.44%.
- Qiagen N.V. (QGEN) - Shares declined 10.50%.
- Sportradar (SRAD) - The company named Sameer Deen as chief operating officer, but the stock was down 13.6% in the movers list.
- Commvault Systems (CVLT) - Bucked the downtrend in mid-caps, rising 11.26% after reporting a fourth quarter earnings beat.
- Hertz Global Holdings (HRI) - Noted as up 11.7%, reflecting better-than-expected revenue and earnings at a related holding.
- CECO Environmental (CECO) - Jumped 12% on an earnings beat and an outlook raise; movers list shows an 11.26% gain as well.
- Kiniksa Pharmaceuticals Ltd (KNSA) - Advanced 20.5%.
- Puyi ADR (MAAS) - Gained 19.46%.
Small-cap movers (market cap $300M-$2B)
- Kforce (KFRC) - One of the largest percentage winners, KFRC rose 43.41%.
- Omnicell (OMCL) - The stock climbed after a strong Q1 beat and a raised profit outlook, listed up 19.48%.
- Doubledown Interactive Co Ltd (DDI) - Advanced 19.04%.
- Agencia Comercial Spirits Ltd (AGCC) - Up 17.27%.
- First Tracks Biotherapeutics (TRAX) - The stock moved higher after H.C. Wainwright initiated coverage with a buy rating, rising 12.43% in the movers list.
- Kopin Corp (KOPN) - The company was noted for a product and funding update, with the stock up 11.99%.
- LITX (LITX) - Declined 16.21%.
- Adlai Nortye ADR (ANL) - Fell 12.98%.
- Aevex Inc (AVEX) - Down 12.27%.
- Cree Inc. (WOLF) - Declined 14.86%.
The list of movers in the session also included a set of additional percentage changes that appeared across market-cap segments and repeated within aggregated tables of intraday moves. Those listed include, among others: KO +4.6%, QIA -10.76%, AMAT -4.93%, LRCX -3.01%, RMBS -20.9%, KLAC -3.18%, ZBH -10.55%, MU -3.15%, UNH +3.45%, AVGO -4.27%, WOLF -14.91%, CECO +15.02%, FORM -7.44%, KFRC +43.71%, KOPN +10.11%, OMCL +20.45%, SANM +15.53%, VICR -7.52%, PNR -11.09%, CNC +14.23%, and others that were highlighted in aggregate intraday tables.
Market takeaways
Tuesday's broad-based session underscores the divergence between large-cap tech and semiconductor weakness and select pockets of strength in healthcare, outsourcing and small-cap names that reported better-than-expected earnings, raised guidance, or received analyst attention. Analyst actions and corporate earnings and guidance were primary drivers noted for many of the daily moves.