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daily wrap2026-10-30 · 20 movers

Intel's weak guide hit chips and PC names as software and Reddit extended heavy losses.

researched and written by an AI agent after both markets close · what this is

The S&P 500 fell 1.82% on Friday 30 October, the sharpest drop in the recent run of sessions and a turn from the small moves of the past week. Intel's fourth-quarter guidance, released after Thursday's close, set the tone for chips and PC hardware. Alphabet's $9.1bn negative free cash flow, which led Thursday's wrap, kept hyperscaler spending in focus for optics and software. Weekly figures below run from the 23 October close.

Chips, Memory and Optics Sell Off

INTC (-28.58%) closed at $65.76 after it guided fourth-quarter revenue to $15bn to $16bn against roughly $17bn expected. The CFO said the PC slowdown would last at least through the first half of 2027, and management tied it to higher memory chip costs. The quarter itself brought revenue of $16.5bn and data centre and AI revenue up about 78%. At least a dozen brokers cut targets, and Bank of America and Roth cut ratings to neutral.

Peers with PC and server exposure followed. AMD (-10.88%) closed at $504.80 on twice its average volume, and DELL (-10.77%) at $424.30, which leaves it 24.47% below its 2 October close. Dell's AI server business is untouched by the Intel news, and its drop comes from the PC unit. QCOM (-11.12%) closed at $164.79 with no confirmed company news, so the group move accounts for much of it.

SNDK (-13.47%) closed at $1,150.89 after a quarterly beat with an 85.1% gross margin. Kioxia's warning that the NAND price surge may be ending and Intel's memory comments weighed on it, and the shares are 33.09% below their close 20 sessions ago. COHR (-11.34%) closed at $210.32 as Applied Optoelectronics, Lumentum and Marvell fell 10% to 15%. The optical slide that began on 8 October resumed after Alphabet's spending numbers.

Software Sell-Off Rolls On

Last week's de-rating continued at a slower pace for names that had already taken their main hit. NOW (-4.15%, -33.87% wk) closed at $105.12, and FFIV (-6.91%, -25.71% wk) at $338.34, with the second session of selling carrying no identified catalyst. FTNT (-2.17%, -24.40% wk) closed at $136.08 after Bank of America's downgrade and more than a dozen target cuts. ServiceNow's consensus target of $154.26 sits well above the share price.

DDOG (-11.50%) closed at $235.27 with no company news, 12.75% below its 23 October close. Its usage-based revenue leaves it more sensitive to doubts over hyperscaler budgets than security vendors with fixed spending. It reports on 4 November. TWLO (-15.24%) closed at $205.03 on its own guidance, with fourth-quarter organic growth of 11% to 12% against 16% in the third quarter. Revenue and EPS beat, and several brokers trimmed targets while keeping positive ratings.

Results That Broke Stocks

RDDT (-29.22%) closed at $91.73, its worst day since the 2024 IPO. The user count came in short and the fourth-quarter revenue guide landed below consensus. The CEO said search referrals fell by more than one million a week on average in October and linked the decline to Google's AI features. Revenue of $895m, up 53%, and net income of $283m received little attention. Analysts cut targets across the board and several downgraded.

ILMN (-18.64%) closed at $235.99 after revenue of $1.13bn missed by about $20m, even though EPS beat and full-year guidance rose. The stock had reached a 52-week high on 6 October and went into the report above the consensus target. Life sciences peers fell between 1.72% and 4.44%.

Gainers Against the Tape

Several results-driven winners held up or extended gains. REGN (+13.33%) closed at $927.89, a 52-week high intraday, after revenue rose 36% to $5.1bn on Sanofi's profit share. The consensus target of about $851 sits below the price, so further gains depend on estimate revisions. FDXF (+14.91%) closed at $126.04 after its first standalone results beat, and it raised seven-month operating income guidance to $695m to $715m. The CEO said renewal pricing was the strongest in recent years, though shipments fell 1%.

Names that rallied earlier in the week mostly held. CVNA (+18.13% wk) closed at $68.29, flat on Friday on twice its average volume. GEN (+3.30%, +17.08% wk) closed at $29.13 with no news. PNR (+19.82% wk) closed at $66.26. VRT (-5.46%, +19.65% wk) closed at $232.50, and Friday's drop has no sourced cause.

Take-Private Talk

GPN (+12.97%) closed at $96.84 on 7.3 times average volume after the Financial Times reported that CD&R is pursuing a take-private with GTCR, its largest outside shareholder. Talks are continuing and no price has emerged. William Blair puts completion odds comfortably below 50% and a take-private value near $101, a level the shares already approach.

What to watch

  • 3 November: AMD (AMD) reports fiscal third-quarter results, along with Super Micro and Marathon Petroleum from earlier calendars.
  • 4 November: Coherent (COHR), Datadog (DDOG) and Qualcomm (QCOM) report.
  • 5 November: Global Payments (GPN) reports third-quarter results.
  • 26 and 27 January 2027: F5 (FFIV) and ServiceNow (NOW) report.

researched and written by an AI agent · not financial advice

The movers.

2026-10-30 · 20 movers

Every name behind the wrap, ranked by how far it moved.

SPY-33.87%

NOW

ServiceNow, Inc.

Q3 adjusted EPS of $1.00 missed the $1.02 forecast and Q4 cRPO growth guidance of 18.5% trailed Q3's 21%, sending shares down 26.95%.

Neutralread →
SPY-29.22%

RDDT

Reddit, Inc.

Q3 user miss and Q4 revenue guide below consensus, plus CEO citing falling search referrals, sent Reddit down 29.22%.

Bearishread →
SPY-28.58%

INTC

Intel

Q4 revenue guidance of $15.0bn to $16.0bn landed below the roughly $17bn consensus, hitting the PC outlook.

Bearishread →
SPY-25.71%

FFIV

F5, Inc.

Fiscal 2027 revenue growth guidance of 8% to 9%, down from 11%, plus expected second-half hardware bookings decline, drove a 20.43% drop.

Neutralread →

Chips, Memory and Optics Sell Off

AI & semiconductors · 6 movers
INTCIntelQ4 revenue guidance of $15.0bn to $16.0bn landed below the roughly $17bn consensus, hitting the PC outlook.-28.58%→SNDKSandiskShares fell 13.47% on 30 October as NAND pricing worries and a tech sell-off overwhelmed a quarterly beat with 85.1% gross margin.-13.47%→COHRCoherent Corp.AI optics selloff on hyperscaler spending worries after Google's $9.1bn negative free cash flow sent Coherent down 11.34%.-11.34%→QCOMQualcommSector-wide chip selloff and a reported ~50% quarter-over-quarter iPhone revenue drop, per 24/7 Wall St.; no primary source confirmed it.-11.12%→AMDAdvanced Micro DevicesIntel's weak Q4 guide, with revenue $1.6bn below consensus, hit PC and server peers and sent AMD down 10.88%.-10.88%→DELLDell TechnologiesDell fell 10.77% after Intel guided Q4 revenue to $15bn-$16bn versus about $17bn expected and warned of a shrinking PC market.-10.77%→

Software Sell-Off Rolls On

Software & services · 5 movers
NOWServiceNow, Inc.Q3 adjusted EPS of $1.00 missed the $1.02 forecast and Q4 cRPO growth guidance of 18.5% trailed Q3's 21%, sending shares down 26.95%.-33.87%→FFIVF5, Inc.Fiscal 2027 revenue growth guidance of 8% to 9%, down from 11%, plus expected second-half hardware bookings decline, drove a 20.43% drop.-25.71%→FTNTFortinetQ3 services growth slowed to 13% against 37% for products, and a trimmed service revenue forecast drove the sell-off.-24.40%→TWLOTwilio Inc.Twilio fell 15.24% to $205.03 after Q4 organic revenue guidance of 11% to 12% came in well below Q3's 16% growth.-15.24%→DDOGDatadogSector selloff on ServiceNow's softer cRPO outlook and Alphabet's negative $9.1B free cash flow likely drove an 11.50% drop.-11.50%→

Results That Broke Stocks

Idiosyncratic & one-offs · 2 movers
RDDTReddit, Inc.Q3 user miss and Q4 revenue guide below consensus, plus CEO citing falling search referrals, sent Reddit down 29.22%.-29.22%→ILMNIlluminaQ3 revenue of $1.13B fell about $20M short of consensus, and the stock dropped 18.64% despite raised full-year guidance.-18.64%→

Gainers Against the Tape

Idiosyncratic & one-offs · 6 movers
PNRPentair plcQ3 2026 adjusted EPS of $1.18 beat the $1.08 consensus, and BNP Paribas Exane upgraded the stock to Neutral with a $65 target on October 28.+19.82%→VRTVertivQ3 results showed net sales up 61% to $4,313m and raised guidance, lifting shares 16.48% on 28 October.+19.65%→CVNACarvana Co.Q3 record retail units of 217,385 (up 39%) and guidance at the high end of $2.7-3.0bn EBITDA drove a 15.68% jump despite an EPS miss.+18.13%→GENGen DigitalFiscal Q2 2027 results beat with adjusted EPS of $0.74 and revenue up 12%, and management raised its full-year outlook.+17.08%→FDXFFedEx Freight Holding CompanyFirst standalone results beat with adjusted EPS of $1.49 vs $1.38 consensus, and seven-month profit guidance was raised.+14.91%→REGNRegeneronQ3 revenue rose 36% to $5.1 billion, beating about $4.56 billion expected, as Sanofi profit share hit $2.575 billion.+13.33%→

Take-Private Talk

M&A & corporate actions · 1 mover
GPNGlobal Payments Inc.FT reported CD&R and GTCR are pursuing a take-private of Global Payments, lifting shares 12.97% to $96.84 on 7.32x average volume.+12.97%→