Markets Slide Into Month-End as Inflation Data Rattles Investors

Stock futures traded lower on Friday, following a down day for the S&P 500. Investors were digesting the latest inflation data, while the broader market heads toward a losing month after a turbulent February driven by growing concerns around AI stocks.

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Major Indexes: S&P 500 lower, Nasdaq lower, Dow lower, Russell 2000 lower

Leading Sectors: Energy

Lagging Sectors: Technology, Financial, Consumer Discretionary, Industrial, Health Care, Materials, Utilities, Communication Services

Netflix (NFLX): Netflix shares rose sharply after the streaming giant chose not to raise its bid for Warner Bros.' assets, stepping back from a bidding war with Paramount Skydance.

Paramount Skydance (PSKY): Paramount shares jumped after the company submitted a new, higher bid for Warner Bros.' assets, topping Netflix's offer.

Warner Bros. Discovery (WBD): Warner Bros. shares dipped slightly after Netflix declined to match Paramount's competing bid for the company's assets.

Block (XYZ): The payments company announced it is cutting more than 4,000 jobs, roughly half of its entire workforce. Shares surged in after-hours trading following the restructuring announcement.

Dell Technologies (DELL): Dell shares jumped after the company reported strong fourth-quarter earnings, beating analyst expectations on both profit and revenue. Dell earned $3.89 per share on an adjusted basis, well above the $3.53 analysts had expected.

Zscaler (ZS): Shares of the cloud security company fell after it missed key financial targets for the second quarter. Both its deferred revenue and billings came in below what analysts were expecting.

CoreWeave (CRWV): Shares tumbled after the cloud infrastructure company reported fourth-quarter earnings that fell short of analyst expectations. First-quarter revenue guidance also disappointed Wall Street.

Rocket Lab (RKLB): Shares slid after the space company issued a first-quarter outlook pointing to a wider-than-expected loss before interest, taxes, depreciation, and amortisation.

Flutter Entertainment (FLUT): Shares fell sharply after the online sports betting company missed fourth-quarter earnings and revenue expectations. Its full-year revenue forecast also came in below what analysts had anticipated.

Mara Holdings (MARA): Shares surged after the bitcoin miner announced a partnership with Starwood Capital Group to convert and expand some of its mining sites into artificial intelligence data centres, targeting significant power capacity in the near term.

Applied Optoelectronics (AAOI): Shares rose sharply in premarket trading after the company beat fourth-quarter 2025 estimates and issued 2026 revenue guidance above $1 billion, along with a target for improved profit margins by late 2027.

Figs (FIGS): Shares rose strongly in premarket trading after the healthcare apparel company beat fourth-quarter 2025 estimates, reporting earnings per share that surged compared to the same period last year alongside strong revenue growth. The company also issued positive 2026 revenue guidance.

Duolingo (DUOL): Shares fell sharply in premarket trading after Morgan Stanley and Evercore ISI both downgraded the language-learning app, with significant price target cuts. Analysts cited concerns over the company's user-growth-focused 2026 outlook and underwhelming guidance.

Ambarella (AMBA): Shares fell in premarket trading despite the semiconductor company beating fourth-quarter estimates on both profit and revenue. Investors appeared cautious about the company's full-year revenue growth guidance for fiscal 2027.

Carter's (CRI): Shares fell in premarket trading after the children's clothing company beat fourth-quarter expectations but issued a 2026 earnings outlook pointing to a meaningful decline compared to the prior year.

Kratos Defense (KTOS): Shares fell in premarket trading after the defence company announced a large share offering, pricing over 14 million new shares and expecting to raise around $1.17 billion in net proceeds. Share offerings dilute existing investors, which typically pressures the stock.

Dollar Tree (DG): Shares fell slightly after Citi downgraded the discount retailer from buy to neutral. Analysts said they still believe in the company's strategy but feel the stock has already rallied strongly since April 2025 tariff announcements, leaving little room for further upside.

Monster Beverage (MNST): Shares dipped slightly despite the energy drink maker beating profit and revenue estimates for the fourth quarter. Investors focused on the operating margin, which came in just below expectations.

Intuit (INTU): Shares fell after the maker of TurboTax issued third-quarter earnings guidance that missed analyst forecasts. The company also reaffirmed its full-year outlook, which similarly fell short of Wall Street's expectations.

Autodesk (ADSK): Shares ticked higher after the software company issued full-year revenue guidance above analyst expectations, while also beating on both profit and revenue in its fourth-quarter results.

Celsius Holdings (CELH): Shares rose after Bank of America issued a double upgrade on the energy drink maker, lifting its rating from underperform to buy. Analysts pointed to strong shelf space gains in North America heading into 2026.

(Stocks showing elevated volume and notable price movement)

Gainers: NCLH, ACHC

Losers: ZG

Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider consulting a financial professional before making investment decisions.