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Stock Markets February 18, 2026

Palantir, Garmin Propel Gains as Broad Cross-Section of Stocks Swing Wednesday

Market action ranged from sizable rallies in software, payments and biotech to steep retreats in select industrial and small-cap names

By Jordan Park PLTR MU AMAT GS NVDA
Palantir, Garmin Propel Gains as Broad Cross-Section of Stocks Swing Wednesday
PLTR MU AMAT GS NVDA

U.S. equities on Wednesday saw distinct winners and losers across market-cap tiers as corporate news and analyst moves triggered pronounced share-price reactions. Notable rallies included Palantir and Garmin, while several industrial and small-cap issues recorded sharp declines. The session highlighted sector-specific catalysts from analyst upgrades and quarterly results to regulatory decisions and M&A activity.

Key Points

  • Analyst actions and corporate announcements produced strong moves across large and small caps, with Palantir and Garmin among the notable winners.
  • Biotech and pharmaceutical-related news, including a regulatory authorization and an FDA filing acceptance, contributed to outsized gains for several mid- and large-cap healthcare stocks.
  • Energy, materials and select industrial names experienced sharp declines where guidance or downgrades overshadowed quarterly beats.

Stocks across the market spectrum moved sharply on Wednesday, driven by company reports, analyst revisions and regulatory developments. Traders pushed several names significantly higher while others slid after mixed technical and fundamental cues.

Mega-cap activity

  • Palantir Technologies Inc (PLTR) climbed 5.77% after Mizuho raised its rating, citing a valuation pullback.
  • Micron Technology (MU) rallied 5.14%.
  • Applied Materials Inc (AMAT) rose 2.89%.
  • Goldman Sachs Group (GS) added 2.61%.
  • Nvidia Corp (NVDA) advanced 2.61%.
  • Morgan Stanley (MS) gained 2.9%.
  • Advanced Micro Devices (AMD) declined 1.42%.

Large-cap movers

  • Global Payments (GPN) jumped 14.83% after appointing the former Albertsons CEO to its board of directors.
  • Garmin Ltd (GRMN) surged 12.5% as its fourth-quarter results materially exceeded expectations.
  • Insulet Corp (PODD) climbed 9.11%.
  • Hecla Mining Co (HL) rose 8.85% following stronger-than-expected fourth-quarter results aided by higher silver prices.
  • Cadence Design Systems Inc (CDNS) gained 7.82% after Rosenblatt upgraded the stock following a Q4 beat.
  • Moderna (MRNA) was up 5.88% after the FDA accepted its seasonal flu vaccine application for review.
  • Vector Acquisition (RKLB) increased 7.31%.
  • Wayfair Inc (W) added 7.47%.
  • Palo Alto Networks (PANW) declined 6.81%.
  • HollyFrontier (DINO) fell 13.14% despite HF Sinclair reporting a beat as refining margins surged in the fourth quarter.

Mid-cap action

  • Axcelis Technologies (ACLS) plunged 18.84% after soft guidance tempered enthusiasm from a fourth-quarter beat.
  • Veeco Instruments (VECO) dropped 16.81%.
  • 21Vianet Group (VNET) slipped 8.98%.
  • NantKwest (IBRX) jumped 26.64% following news that the European Commission authorized ImmunityBio's ANKTIVA for bladder cancer.
  • Caesars Entertainment Corp (CZR) rose 14.14% as its digital segment posted a record quarter.
  • Wingstop Inc (WING) climbed 19.0% after beating fourth-quarter expectations despite a revenue miss.
  • The Madison Square Garden Company (MSGS) added 15.71%.
  • Global-e Online (GLBE) increased 15.42% on a better-than-expected fourth quarter.
  • Constellium NV (CSTM) rose 13.82% after reporting fourth-quarter results that more than doubled estimates.
  • Mudrick Capital A (HYMC) was up 17.43% amid Hycroft's reported growth in gold and silver resources.

Small-cap swings

  • SimilarWeb (SMWB) plunged 29.49% after Citizens downgraded the stock following weak fourth-quarter results.
  • Lyell Immunopharma (LYEL) fell 12.59%.
  • Braiin (BRAI) declined 6.33%.
  • Sabre Corp (SABR) surged 33.21%.
  • Starfighters Space (FJET) rose 24.02%.
  • Tactile Systems Technology Inc (TCMD) climbed 23.49% after Tactile Medical announced the acquisition of LymphaTech for $6.8 million.
  • Mister Car Wash (MCW) gained 16.47% on news that Leonard Green will take the company private in a $3.1 billion deal.
  • Compass Pathways Plc (CMPS) increased 14.55% following an announced $150 million ADS offering.
  • Pitney Bowes Inc (PBI) rose 7.71% after beating fourth-quarter earnings estimates.

Wednesday's session underscored how discrete corporate developments - from board appointments and acquisitions to regulatory approvals and earnings beats - can produce outsized moves across market-cap segments. The market response varied by the nature of each announcement, with analyst upgrades and positive earnings driving several rallies, while guidance concerns and downgrades led to pronounced sell-offs in other names.

Risks

  • Companies that reported soft forward guidance saw steep sell-offs despite quarterly beats, highlighting the risk that outlooks can dominate near-term investor reactions - this affected industrial and semiconductor suppliers.
  • Downgrades and weak quarterly results can trigger large downside moves in small-cap stocks, exemplified by the sharp decline in SimilarWeb, presenting heightened volatility risk for smaller names.
  • Regulatory and corporate governance developments can rapidly reprice biotech and payments stocks; since these catalysts are binary in nature, outcomes can amplify price swings in healthcare and financial-services equities.

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