Midday trading saw sharp moves across a range of U.S. equities, with investors reacting to earnings updates, analyst rating changes and guidance revisions. Coinbase shares jumped after a post-earnings reassessment of crypto trading activity, while Shopify slid on subscription and merchandise indicators that missed expectations.
Key takeaways
- Coinbase surged as investors digested third-quarter results pointing to weaker crypto trading volumes.
- Shopify fell after it missed estimates for subscription gross profit and gross merchandise volume.
- Bloom Energy jumped following a Barclays upgrade to overweight, driven by higher-than-expected demand.
- Several AI-linked stocks rebounded after a period of heavy selling, including Nvidia and Advanced Micro Devices.
- DuPont climbed after raising its outlook, supporting sentiment in select industrial names.
What drove the moves
Crypto and platforms led the early swings. Coinbase rallied about 8%, rebounding after a recent selloff and following third-quarter results released last Thursday. The company reported weaker crypto trading volumes, prompting Morgan Stanley to cut its rating to underweight and reduce its price target by 53% on Monday. Despite that, the stock’s rebound suggests investors may have been focused on the near-term setup after the prior decline rather than solely on the volume data.
Shopify weighed on the market after a mixed revenue picture. The e-commerce platform fell more than 5% after missing estimates on subscription gross profit and gross merchandise volume. Quarterly revenue came in at $3.74 billion, slightly below LSEG’s estimate of $3.75 billion. Shopify also pointed to revenue growth in the “low thirties” year over year for the fourth quarter, compared with LSEG’s 32.1% expectation, and said it expects free cash flow margin to be consistent with the fourth quarter of 2025.
Analyst upgrades supported select industrial and energy names. Bloom Energy rose nearly 10% after Barclays upgraded the company to overweight from equal weight. The bank cited higher-than-expected demand, while lowering its 12-month price target to $289 from $319—still indicating upside of roughly 47% from Monday’s close.
Battery and chemical demand expectations also influenced sentiment. DuPont shares climbed about 9% after it reported third-quarter results and raised its full-year financial outlook. The company posted adjusted earnings of $2.09 on revenue of $1.87 billion, above the FactSet consensus of $1.87 per share on $1.84 billion in revenue. DuPont expects organic growth of about 4.5%.
Earnings reactions across financials, tech and healthcare
Financial services and fintech delivered a bright note. Fiserv gained about 12% after third-quarter earnings beat expectations. Adjusted earnings were $1.75 per share versus a FactSet estimate of $1.72, and the company authorized a $500 million common stock repurchase during the fourth quarter under an existing buyback authorization.
Thomson Reuters fell on earnings softness. Shares slipped 7.5% after the company reported weaker-than-expected earnings. In the third quarter, adjusted earnings were 81 cents compared with 83 cents expected by analysts polled by FactSet. Revenue was $1.83 billion, in line with estimates.
On Semiconductor moved higher on stronger results. On Semiconductor advanced about 4% after posting third-quarter results that topped estimates. Adjusted earnings were 90 cents per share on $1.72 billion in revenue. Analysts polled by LSEG expected 88 cents a share on $1.70 billion.
Revvity lifted guidance, while Pfizer lagged modestly. Revvity rose 11% after raising full-year pro forma adjusted earnings per share guidance to $5.40–$5.45 from $5.30–$5.40. Pfizer eased about 1% after reporting third-quarter results: 87 cents per share excluding one-time items on revenue of $16.58 billion. LSEG had expected 73 cents per share on $15.87 billion.
DuPont’s guidance raise contrasted with markdowns in select tech and data names. Gartner shares slid 13% even though the company reported third-quarter results that beat expectations. Gartner also issued better-than-expected adjusted earnings and revenue guidance for the full year, but the stock’s drop indicated investors were still focused on other forward-looking considerations. Palantir also fell about 2% despite third-quarter adjusted earnings topping Wall Street expectations, even as its U.S. commercial revenue rose 148% to $984 million and it projected fourth-quarter revenue of about $2.65 billion and $8.53 billion for all of 2026.
AI-linked rebound and market-wide implications
AI-related equities bounced after recent selling. A slate of stocks tied to the AI trade gained traction after several days of hard selling. The iShares AI Innovation and Tech Active ETF rose about 2%. Nvidia and Advanced Micro Devices jumped roughly 3% and 5%, respectively. Memory stock Sandisk advanced nearly 4%, while neocloud names Nebius and Ire rose about 7% and 9%.
Broader chip strength contrasted with specific margin pressure. The moves in AI-linked semiconductors followed company-by-company and sector-level reassessments, while other hardware and retail-linked names faced pressure. Zebra Technologies dropped about 6% after its adjusted gross margin in the third quarter came in at 46%, below the FactSet consensus of 47.7%. The company beat expectations on top- and bottom-line results, but the margin gap appears to have outweighed the beats.
What to watch next
Investors will likely focus on whether guidance revisions—particularly in consumer platforms, industrials and AI-exposed semiconductors—continue to validate midday stock moves. Upcoming catalysts include additional company earnings and guidance updates, as well as broader macro data that can influence rate expectations and risk appetite across growth and tech-heavy portfolios.
