Stock Markets July 27, 2026 10:35 AM

Broad market swings push names from SanDisk to SpaceX lower while Baker Hughes and software names rally

Monday session sees sharp percentage moves across market-cap tiers, with losses among several large-cap chip names and outsized gains in software, energy and select small-cap biotech and SPACs

By Jordan Park
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SNDK LRCX AMAT SPCX BXBL

Stocks moved unevenly on Monday, with notable declines among several mega-cap technology and semiconductor-related names and gains concentrated in software, energy and select small-cap issues. SanDisk Corp-Exch, Lam Research and Applied Materials were among the larger decliners, while Baker Hughes and cloud and collaboration software providers including Workday and Atlassian posted solid advances. Small-cap biotechs and certain special purpose acquisition companies also recorded large percentage swings.

Broad market swings push names from SanDisk to SpaceX lower while Baker Hughes and software names rally
SNDK LRCX AMAT SPCX BXBL
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Key Points

  • Declines among several large-cap semiconductor and materials names drove notable negative moves at the mega-cap level, including SanDisk (SNDK), Lam Research (LRCX) and Applied Materials (AMAT).
  • Gains were prominent in cloud and enterprise software names and in energy services, with Workday (WDAY), Atlassian (TEAM) and Baker Hughes (BKR) among the top advancers.
  • Small-cap and mid-cap issues, including several biotechs and SPACs, experienced large percentage swings, highlighting higher volatility in lower market-cap segments.

Equity markets on Monday produced a mix of steep declines and sharp rallies across a range of market-cap segments. Several big technology and materials names stood out on the downside, while industrial and software issues advanced, and a number of small-cap and mid-cap companies posted outsized daily moves.


Highlights by market-cap category

Mega-Cap Movers ($200 billion USD or higher)

  • SanDisk Corp-Exch (SNDK): -11.04%
  • Lam Research Corp (LRCX): -6.11%
  • Applied Matls Inc (AMAT): -5.37%
  • SpaceX (SPCX): -4.95%

Large-Cap Stock Movers ($10-$200 billion USD)

  • FG Merger II (BXBL): -13.75%
  • dMY Technology Group III (IONQ): +8.5%
  • Workday Inc (WDAY): +7.84%
  • Atlassian Corp Plc (TEAM): +7.82%
  • Baker Hughes (BKR): +7.95%
  • Wayfair Inc (W): +6.53%
  • MicroStrategy Inc (MSTR): +5.51%
  • Jbs NV (JBS): +7.49%

Mid-Cap Stock Movers ($2-$10 billion USD)

  • SNXX (SNXX): -25.14%
  • MaxLinear Inc (MXL): -12.22%
  • Bitmine Immersion Tech (BMNR): +10.64%
  • DPCM Capital (QBTS): +16.41%
  • Braze (BRZE): +6.92%
  • CF Acquisition Corp VI (RUMBW): +2.33%

Small-Cap Stock Movers ($300 million - $2 billion USD)

  • Capricor Therap (CAPR): -66.6%
  • D Boral ARC Acquisition I (BCAR): -23.18%
  • Tocagen Inc (FBRX); TD Cowen downgrades Forte Biosciences stock rating on Argenx deal: +39.54%
  • First Tracks Biotherapeutics (TRAX): +18.43%
  • Omeros Corp (OMER): +11.54%
  • dMY Technology Group II (GENI): +13.12%
  • MSTU (MSTU): -4.7%

The session's list of movers spans chipmakers, materials suppliers, cloud software providers, oilfield services and a set of smaller biotechs and SPACs. Losses were concentrated among a handful of larger-cap semiconductor-related names, while advances were visible in business software and energy-related equities. Small-cap names displayed particularly wide intraday swings, with individual percentages that outpaced those seen in larger-cap cohorts.

This roundup focuses on the largest percentage moves by market-cap category and does not attempt to provide an exhaustive review of every security traded during the session.

Risks

  • Pronounced intraday volatility among small-cap and mid-cap issues increases price risk for investors in those segments, affecting sectors such as biotechnology and blank-check companies.
  • Significant declines concentrated in semiconductor and materials-related mega-caps indicate sector-specific downside risk for technology and chip-equipment suppliers.
  • Analyst actions and company-specific developments, such as the TD Cowen downgrade referenced for Forte Biosciences in the small-cap list, can drive abrupt security-specific moves and heighten uncertainty for affected healthcare and biotech names.

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