Stocks Rebound After Tech Tumble, Bitcoin Fears Fade

Stock prices bounced back as investors believed the recent three-day drop was too severe. After a turbulent week where technology stocks disappointed and fears of a cryptocurrency crash rattled markets, stocks were set to end Friday on a positive note.

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

Leading Sectors: Technology, Materials, Health Care, Industrial, Energy, Financial, Utilities, Real Estate

Lagging Sectors: Consumer Discretionary, Consumer Staples, Communication Services

Amazon (AMZN): Shares dropped sharply after the company's quarterly profit fell slightly short of Wall Street expectations. Amazon also announced plans to spend $200 billion on infrastructure and technology investments in 2026.

Molina Healthcare (MOH): The health insurance company's stock plunged after reporting a quarterly loss instead of expected profit, hurt by payment adjustments in its Medicaid business and rising costs in Medicare. The company also lowered its full-year revenue forecast below analyst expectations.

Reddit (RDDT): The social media platform's shares jumped after reporting better-than-expected quarterly results, providing optimistic guidance for 2026, and announcing a $1 billion stock buyback program.

Strategy (MSTR): Shares of the bitcoin-focused company rebounded as bitcoin itself recovered, following a sharp drop in the previous session.

Doximity (DOCS): The healthcare networking platform exceeded expectations on revenue and profit and announced a $500 million buyback program, but shares dropped sharply after disclosing its CFO is taking medical leave.

Novo Nordisk (NVO) & Eli Lilly (LLY), Hims & Hers Health (HIMS): FDA Commissioner announced plans to crack down on unauthorized copycat versions of FDA-approved drugs. This benefited major pharmaceutical companies Novo Nordisk and Eli Lilly, while negatively impacting Hims & Hers Health.

Under Armour (UAA): The athletic apparel company reported quarterly results and updated its full-year outlook, including adjustments to restructuring costs and tax-related items.

Hub Group (HUBG): Shares plunged after the logistics company delayed its earnings release due to an accounting review. The company will restate previous quarterly results after discovering it understated transportation costs and payables by $77 million.

QuinStreet (QNST): The digital marketing company beat expectations, completed an acquisition, and provided optimistic revenue guidance for the quarter and full year.

Envista Holdings (NVST): The dental products company exceeded expectations on both profit and revenue, with strong growth in core revenue and profitability, while providing 2026 guidance.

Roblox (RBLX): The gaming platform reported quarterly results that exceeded expectations for both profit and revenue, with revenue growing strongly year-over-year.

Bloom Energy (BE): The energy technology company exceeded profit and revenue expectations, reported record annual revenue and a large order backlog, then provided optimistic 2026 guidance above analyst estimates.

Atlassian (TEAM): The software company increased its annual revenue growth forecast and reported strong quarterly results, but shares fell on weaker-than-expected billings (advance payments from customers).

Canopy Growth (CGC): The cannabis company reported flat revenue but showed improvement in its cannabis business and narrowed its losses, reiterating plans to achieve profitability in fiscal 2027.

Centene (CNC): The health insurance company posted a smaller quarterly loss than expected, provided full-year revenue guidance, and projected improved profitability for 2026.

Biogen (BIIB): The biotech company's shares rose after quarterly and annual results exceeded expectations, with 2026 profit guidance above analyst estimates.

nVent Electric (NVT): The electrical products company reported quarterly and full-year sales figures.

Affirm (AFRM): The buy-now-pay-later company beat expectations on quarterly profit and revenue, with revenue growing strongly, but shares fell due to concerns about rising credit losses. The company also announced a new partnership with Virgin Media O2.

Microchip Technology (MCHP): The chipmaker exceeded quarterly expectations but provided below-consensus guidance for the current quarter, citing a global memory supply shortage. The company also announced a partnership with Hyundai for automotive technology.

Roivant Sciences (ROIV): Shares jumped after the biotech company reported positive clinical trial results for its drug candidate and filed for regulatory approval for another treatment.

IREN (IREN): Shares declined after the company reported revenue below expectations and a significant quarterly loss, including losses related to financial derivatives and equipment write-downs as it transitions from cryptocurrency mining hardware to data center GPUs. The company secured $3.6 billion in financing for GPU expansion tied to its Microsoft partnership.

Plains All American Pipeline (PAA): The energy infrastructure company reported quarterly and annual results, raised its dividend, and lowered its distribution coverage target.

(Stocks showing elevated volume and notable price movement)

Gainers: LUV, SYY

Losers: HOOD, SOFI, HUBS, CVLT, PAR, PINS, CEG, MNDY, FIG

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