Stock Markets February 25, 2026

Markets See Broad Swings; Oracle and Netflix Rally While Several Other Names Slip

Mega-cap tech and chip stocks post gains amid analyst moves and deal chatter; retailers and select small-caps show notable weakness

By Nina Shah ORCL NFLX MU AMAT
Markets See Broad Swings; Oracle and Netflix Rally While Several Other Names Slip
ORCL NFLX MU AMAT

Equities experienced uneven trading Wednesday as a mix of analyst upgrades, deal speculation and company-specific earnings and guidance moves drove sharp gains in several technology and semiconductor names, while retailers and a number of small- and mid-cap companies posted steep declines. The action spanned mega-caps through small-caps, with individual headlines — upgrades, contract awards, and revised offers — underpinning many of the largest percentage moves.

Key Points

  • Analyst upgrades and deal-related news drove notable gains among mega-cap technology and semiconductor stocks, including Oracle and several chipmakers.
  • Earnings results, guidance and company-specific operational updates produced outsized volatility in large-, mid- and small-cap names, with both steep rallies and sharp declines observed across market-cap segments.
  • Retail and certain small-cap companies registered significant declines amid weak guidance, revenue misses or downgrades, highlighting that firm-level results remain a primary driver of share-price moves.

U.S. equity trading on Wednesday produced a wide range of individual stock moves, with strength concentrated in technology and semiconductor names while several consumer and smaller-cap issues weakened. Analyst upgrades, corporate announcements and deal-related news were among the catalysts pushing some mega-cap and mid-cap names higher, and weighing on others.


Mega-cap movers (Market cap: $200 billion or higher)

  • Oracle Corp (ORCL) - Up 3.75% after Oppenheimer upgraded the stock, citing strength in the company’s positioning around artificial intelligence and assigning a $185 price target.
  • Netflix, Inc. (NFLX) - Up 4.9% as reports indicated Warner Bros. Discovery is considering a revised offer involving Paramount and Skydance, a development that appears to have supported streaming-related names.
  • Micron Technology (MU) - Up 3.72%.
  • Applied Materials Inc (AMAT) - Up 4.06%.
  • Lam Research Corp (LRCX) - Up 3.58%.
  • IBM (IBM) - Up 3.22% following an upgrade from UBS, which described a balanced risk-reward profile for the stock.
  • Palantir Technologies Inc (PLTR) - Up 3.97%.
  • Avago Technologies (AVGO) - Up 2.18%.
  • Home Depot (HD) - Down 3.18%.
  • United Tech (RTX) - Down 2.09%; a unit of RTX won a DARPA contract focused on long-range X-ray imaging technology.

Large-cap movers (Market cap: $10-$200 billion)

  • Taser Intl (AXON) - Shares surged 20.43% after a strong fourth quarter and an upbeat outlook.
  • Circle Internet Group Inc (CRCL) - Up 19.13%.
  • Jazz Pharmaceuticals (JAZZ) - Up 9.8% on results driven by growth in Xywav.
  • United Therapeutics Corp (UTHR) - Listed with a 9.09% move; the stock was also described as falling nearly 5% on a revenue miss despite an earnings beat in its company update.
  • Lumentum Holdings Inc (LITE) - Up 8.75%.
  • Figma Inc (FIG) - Up 9.66%.
  • Coherent (COHR) - Up 6.96%.
  • GoDaddy Inc (GDDY) - Down 15.86% after revenue guidance trailed estimates.
  • First Solar Inc (FSLR) - Down 14.02% following weak 2026 revenue guidance after a quarterly earnings miss.
  • MercadoLibre (MELI) - Down 9.49%.

Mid-cap movers (Market cap: $2-$10 billion)

  • Clear Secure (YOU) - Up 24.26% after beating fourth-quarter estimates on revenue growth.
  • Dragoneer Growth Opp (CCC) - Up 23.52%.
  • Everus Construction (ECG) - Up 22.08% following a fourth-quarter earnings beat.
  • CAVA Group Inc (CAVA) - Up 21.8% as fiscal-year revenue topped $1 billion for the first time.
  • Resideo Tech (REZI) - Up 12.72% on upbeat 2026 guidance despite missing Q4 estimates.
  • Photronics (PLAB) - Up 15.87%.
  • Klarna (KLAR) - Up 10.95%; the move coincided with news that a PriceRunner antitrust damages case against Google is approaching a verdict.
  • Inflection Point Acquisition (LUNR) - Down 17.83% after Intuitive Machines secured a $175 million equity investment.
  • Gores Holdings II Incorporated (VRRM) - Verra Mobility fell 13.9% on an earnings miss and weak guidance.
  • Highland HFR Event Driven (DRVN) - Down 35.61%.

Small-cap movers (Market cap: $300 million - $2 billion)

  • Braiin (BRAI) - Up 94.57%.
  • Zafgen Inc (LRMR) - Up 42.01%.
  • Rayonier Advanced Materials (RYAM) - Up 39.75%.
  • Acadia Healthcare (ACHC) - Up 24.67% after reporting a fourth-quarter revenue beat alongside an earnings miss.
  • Sigma Lithium US (SGML) - Up 22.3%.
  • Novocure Ltd (NVCR) - Up 21.04%.
  • Oddity Tech (ODD) - Down 51.76% after a downgrade from Jefferies related to disruption in its advertising algorithm.
  • MannKind Corp (MNKD) - Down 37.45%.
  • Allot Communications (ALLT) - Down 23.04%.
  • Camping World Holdings Inc (CWH) - Down 21.75% on a fourth-quarter earnings miss.

The day’s movers demonstrate how disparate headlines - from analyst upgrades and contract awards to earnings beats, misses and revised guidance - can sharply move individual stocks across market-cap ranges. Technology and semiconductor names accounted for a substantial share of the upside among large-cap issues, while guidance shortfalls and company-specific operational challenges weighed more heavily on a subset of retail and small-cap names.

Risks

  • Earnings and guidance volatility - Several large and small companies in the report moved sharply on quarterly results and forward guidance, indicating ongoing earnings-driven market risk for equity investors, particularly in retail and small-cap segments.
  • Analyst actions and deal speculation - Upgrades, downgrades and deal chatter produced pronounced moves in mega- and large-cap stocks, underscoring the risk that market sentiment can shift rapidly on news flow in the technology and media sectors.
  • Liquidity and concentration risk in small-caps - The very large percentage swings reported for some small-cap names suggest higher volatility and potential liquidity constraints that can amplify price moves for smaller issuers.

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