Stock Markets February 5, 2026

Mega-cap declines drive market swings as select names post sharp moves

Eli Lilly and Oracle among the largest decliners while a handful of tech and industrial names buck the trend

By Derek Hwang LLY PLTR ORCL AMZN
Mega-cap declines drive market swings as select names post sharp moves
LLY PLTR ORCL AMZN

Stocks across market-cap tiers shifted sharply on Thursday, with major healthcare and technology names leading declines and several mid- and small-cap companies recording outsized moves in both directions. Mega-cap names such as Eli Lilly and Oracle fell steeply, while Avago Technologies and a few mid- and large-cap firms posted gains.

Key Points

  • Mega-cap technology and healthcare names led declines, with Eli Lilly, Oracle and Palantir among the largest fallers.
  • Select industrial, healthcare-services and semiconductor-related companies showed strong upside amid broad weakness, including McKesson, FormFactor, SiTime and Polestar.
  • Movers spanned market-cap tiers — from mega-cap to small-cap — reflecting firm-specific news, analyst actions and earnings or strategic announcements.

Equity markets saw a broad mix of moves on Thursday as headline names and smaller issuers registered notable percentage shifts. The session featured pronounced declines among several mega-cap stocks, offset by gains in a limited set of technology and industrial companies. Below is a categorized rundown of the largest movers by market-cap segment.


Mega-Cap Movers (Market Cap: $200 billion USD and above)

  • Eli Lilly (LLY) -6.89%
  • Palantir Technologies (PLTR) -5.73%
  • Oracle Corp (ORCL) -5.71%
  • Amazon (AMZN) -4.3%
  • Advanced Micro Devices (AMD) -4.45%
  • Stifel downgrades Microsoft stock to Hold on Azure concerns; Microsoft (MSFT) -3.34%
  • Avago Technologies (AVGO) +2.58%
  • United Health Group (UNH) -2.8%
  • Thermo Fisher Scientific (TMO) -2.83%
  • JP Morgan Chase (JPM) -2.71%

Large-Cap Stock Movers (Market Cap: $10-$200 billion USD)

  • Estee Lauder (EL) -20.09%
  • Mckesson Corp (MCK) +16.54%
  • MicroStrategy Inc (MSTR) -14.7%
  • Amerco (UHAL) -14.61%
  • Regal Beloit Corp (RRX) +12.58%
  • Ares Management LP (ARES) -11.49%
  • Huntington Ingalls Industries Inc (HII) -10.78%
  • dMY Technology Group III (IONQ) -11.23%
  • IBIT NASDAQ (IBIT) -9.86%
  • FBTC NYSE (FBTC) -9.83%

Mid-Cap Stock Movers (Market Cap: $2-$10 billion USD)

  • Fluence Energy; Fluence Energy shares plunge 9% on wider-than-expected Q1 loss; Fluence Energy (FLNC) -31.29%
  • Ralliant (RAL) -29.89%
  • dMY Technology Group II (GENI) -27.99%
  • Peloton Interactive Inc (PTON) -25.8%
  • FMC Corp; FMC explores strategic options as it reports 2025 results; FMC Corp (FMC) -19.63%
  • FormFactor; FormFactor shares soar as Q4 earnings, revenue top estimates; FormFactor (FORM) +17.54%
  • SiTime Corporation; SiTime shares soar after beating earnings, announcing acquisition; SiTime Corporation (SITM) +16.88%
  • Maximus Inc; Maximus beats Q1 earnings, narrows revenue outlook for 2026; Maximus Inc (MMS) -15.28%
  • Marathon Pa (MARA) -14.67%
  • EnerSys; EnerSys tumbles 8% as revenue misses estimates despite profit beat; EnerSys (ENS) -13.06%

Small-Cap Stock Movers (Market Cap: $300 million - $2 billion USD)

  • Cerence Inc (CRNC) -30.89%
  • ETHU (ETHU) -20.7%
  • Polaryx Therapeutics Inc (PLYX) -21.82%
  • CONL (CONL) -20.86%
  • BITX (BITX) -19.97%
  • Kimball Electronics (KE) -20.48%
  • ScanSource (SCSC) -19.17%
  • Marine Products Corp (MPX) -17.06%
  • Polestar Automotive Holding Plc (PSNY) +28.85%
  • MSTU (MSTU) -6.51%

The session’s distribution of movers highlights heavy downward pressure among several large-cap healthcare and technology names, while some industrial and semiconductor-related companies posted gains. The list includes both straightforward percentage moves and company-specific notes tied to earnings, strategic reviews, and analyst actions that accompanied individual stock moves.

Market participants should note that some entries include company commentary or event notes alongside the price move. Where those annotations appear, they are part of the market action as reported for the session.


Summary

Thursday’s market action was characterized by notable declines among mega-cap stocks, including sharp drops for Eli Lilly and Oracle, while a smaller set of companies such as Avago Technologies, McKesson, Regal Beloit, FormFactor, SiTime and Polestar recorded meaningful gains across large-, mid- and small-cap segments.

Risks

  • Continued volatility in large-cap technology and healthcare stocks could weigh on broader market performance - sectors affected: technology, healthcare.
  • Sharp moves in mid- and small-cap names tied to earnings or strategic announcements suggest company-specific risks remain elevated - sectors affected: industrials, semiconductors, consumer.
  • Analyst actions and strategic-review headlines may trigger further re-rating of individual stocks, increasing uncertainty for portfolio exposure to those names - sectors affected: financials (brokerage/analyst coverage), diversified industrials.

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