Tech, Industrials See Broad Swings as Several Mega- and Small-Caps Move Sharply

Thursday's trading session produced pronounced moves across market-cap segments. Major technology and industrial names including Applied Materials and Broadcom recorded sizable declines, while select smaller companies such as IonQ and Longview Acquisition delivered double-digit gains. The list of notable movers includes earnings-driven drops, analyst actions, and company-specific operational news.

Key Points

Mega-cap technology and industrial names, including Broadcom and Applied Materials, recorded substantial declines during the session.
Several mid- and small-cap companies posted large gains, often tied to earnings beats, raised outlooks, or company-specific actions.
Analyst downgrades and earnings misses contributed to some of the sharper declines, affecting sectors such as technology, renewable equipment, and healthcare services.

Overview

Equity markets on Thursday displayed wide-ranging price action with heavy losses among several mega-cap technology and industrial stocks, and sharp advances among certain small- and mid-cap names. Company-specific developments and earnings-related outcomes influenced many of the largest percentage moves across market-cap buckets.

Mega-Cap Movers (Market Cap $200B+ USD)

Broadcom (AVGO); Broadcom ships first 2nm custom compute chip on 3.5D platform: -6.66%
Applied Materials (AMAT): -6.82%
Lam Research (LRCX): -6.81%
Nvidia (NVDA); Deepseek Withholds Latest AI Model From US Chipmakers Including Nvidia, Sources Say - Reuters: -4.9%
Caterpillar (CAT): -4.44%
Alibaba (BABA): -4.1%
Intel (INTC): -4.81%
GE Vernova (GEV): -4.18%
United Health Group (UNH): +1.3%
IBM (IBM): +3.24%

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

IonQ (IONQ); IonQ surges on revenue beat, raises 2026 outlook: +19.41%
Bentley Systems (BSY): +10.16%
Atlassian Corp (TEAM): +9.79%
Celsius Holdings (CELH): +11.64%
Donaldson Company (DCI); Donaldson shares fall over 4% on earnings miss and lowered guidance: -14.79%
Pure Storage (PSTG); Pure Storage surges 7% on strong Q4 results, Q1 guidance: -16.37%
Zoom Video Communications (ZM): -12.68%
Heico Corp (HEI): -12.99%
Universal Health Services (UHS): -9.34%
EMCOR Group (EME); Emcor Group rises nearly 4% on fourth quarter earnings beat: -10.76%

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

Sezzle Inc (SEZL); Sezzle soars on raised profit guidance: +29.65%
Warby Parker (WRBY): +17.96%
LeMaitre Vascular (LMAT): +17.85%
Primo Water Corp (PRMB): +14.47%
Frontdoor (FTDR); Frontdoor beats Q4 estimates but guides below expectations: +14.12%
Chime Financial (CHYM): +12.03%
Shift4 Payments (FOUR): -14.05%
Fs Investment (FSK): -14.3%
ACM Research (ACMR); ACM Research ships cleaning systems to Singapore foundry: -19.74%
B Riley Principal Merger II (EOSE): -40.3%

Small-Cap Stock Movers (Market Cap $300M-$2B USD)

Longview Acquisition (BFLY): +54.03%
Ibotta (IBTA): +41.41%
Krispy Kreme (DNUT); Krispy Kreme surges nearly 15% on earnings beat and turnaround progress: +31.61%
Opera Ltd (OPRA); Opera reports Q4 results, announces $300M buyback program: +20.34%
GigaCloud Technology (GCT): +23.36%
Hudson Pacific Properties (HPP): +25.31%
Procept BioRobotics (PRCT); BofA downgrades Procept BioRobotics stock rating on utilization concerns: -23.31%
Uniqure NV (QURE): -30.4%
Energy Recovery (ERII): -34.37%
Array Technologies (ARRY); Deutsche Bank downgrades Array Technologies stock rating on weak margin outlook: -38.08%

What to watch

Thursday's list of top movers underscores several recurring market drivers visible within the day's data: earnings beats and misses are generating outsized reactions in mid- and large-cap names; analyst downgrades are associated with pronounced declines among small-cap technology and renewable names; and company product or operational developments are tied to share movements in the semiconductor equipment and chipmaker groups. The session included both notable positive momentum among smaller issuers and material pullbacks among a swath of major technology and industrial companies.

Note: The percentages and company notes above reflect the session's reported moves and the specific headlines cited for certain names.

Risks

Earnings misses and lowered guidance drove significant negative moves for some companies, signaling uncertainty in earnings-driven sectors such as industrials and technology.
Analyst downgrades noted for specific small-cap names introduce downside risk for investors exposed to renewable equipment and medical device stocks.
Operational or product-related developments in the semiconductor supply chain and chipmaking industry contributed to volatility among major-cap equipment and chip firms.

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Key Points

Risks

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