Stock Markets May 29, 2026 02:01 PM

Market Movers: Dell, IBM Lead Broad Gains as Stocks Swing Across Caps

AI-related upgrades and earnings updates power rallies while guidance misses and offerings weigh on some names

By Avery Klein DELL IBM ORCL PLTR

Stocks experienced pronounced movement on Friday, with large-cap technology names such as Dell and IBM among the leaders to the upside. Gains were broad across market-cap categories, led by upgrades and earnings beats, while a separate group of companies fell after revenue shortfalls, guidance misses or equity offerings. The day’s action produced substantial swings from mega-caps to small-caps.

Market Movers: Dell, IBM Lead Broad Gains as Stocks Swing Across Caps
DELL IBM ORCL PLTR

Key Points

  • Large-cap technology stocks led gains, with Dell and IBM among the session’s top performers.
  • Earnings beats, analyst upgrades and corporate actions (including equity offerings) drove much of the intraday volatility across market-cap categories.
  • Retail and certain mid-cap names fell after revenue shortfalls or guidance concerns, while biotech and small-cap names saw some of the largest percentage moves.

Friday’s trading session produced notable volatility, with a number of individual equities moving sharply amid company-specific news and market reaction. Technology-related names were prominent among the gainers, while retailers and certain mid-cap names slid after revenue and guidance disappointments or capital-raising announcements.


Mega-Cap Movers ($200B+ Market Cap)

  • Dell Inc (DELL) - Susquehanna upgraded Dell’s rating on expectations for AI server growth, with the stock up +28.66%.
  • IBM (IBM) +9.41%
  • Oracle Corp (ORCL) +9.09%
  • Palantir Technologies Inc (PLTR) +8.72%
  • Palo Alto Networks (PANW) +7.33%
  • Arm (ARM) +4.43%
  • Qualcomm Inc (QCOM) +3.94%
  • Microsoft Corp (MSFT) +3.61%
  • Costco Wholesale Corp (COST) -4.55%
  • GE Vernova LLC (GEV) -4.31%

Large-Cap Stock Movers ($10B-$200B Market Cap)

  • Okta Inc (OKTA) +28.69%
  • Network Appliance Inc (NTAP) - NetApp soars 11.5% on an earnings beat and strong guidance, listed here at +26.59%
  • Servicenow Inc (NOW) +13.48%
  • Atlassian Corp Plc (TEAM) +14.5%
  • Hewlett Packard Enterprise Co (HPE) +11.91%
  • Workday Inc (WDAY) +11.63%
  • Rubrik (RBRK) +10.12%
  • Forgent Power Solutions Inc (FPS) - Forgent prices $2 billion stock offering at $47 per share, +10.75%
  • HubSpot Inc (HUBS) +10.68%
  • New Providence Acquisition Corp N (ASTS) -16.76%

Mid-Cap Stock Movers ($2B-$10B Market Cap)

  • BBB Foods (TBBB) +13.14%
  • Zeta Global Holdings (ZETA) +10.98%
  • SailPoint Tech (SAIL) +9.85%
  • Ambarella Inc (AMBA) - the company fell after its revenue guidance midpoint trailed estimates; listed at -21.18%
  • Gap Inc. (GAP) - shares tumbled after Q1 revenue failed to meet analyst expectations, -17.7%
  • American Eagle Outfitters (AEO) - fell on mixed brand performance, -12.46%
  • Karman Holdings (KRMN) - stockholders launched a 13.5 million share offering, -11.93%
  • CECO Environmental (CECO) -11.9%
  • AXT Inc (AXTI) -10.46%
  • Fluence Energy (FLNC) -11.33%

Small-Cap and Additional Movers

The session’s broader small-cap list and other individual movers included a wide range of outcomes, with several very large percentage moves recorded:

  • DELL +29.79%
  • NTAP +26.99%
  • NOW +13.69%
  • MSFT +3.69%
  • ORCL +8.85%
  • QCOM +4.39%
  • COST -4.5%
  • GAP -17.54%
  • IBM +9.69%
  • AXTI -10.14%
  • CECO -10.98%
  • AEO -12.72%
  • WDAY +11.54%
  • AMBA -20.48%
  • PANW +7.6%
  • HUBS +11.19%
  • HPE +12.75%
  • TEAM +15.06%
  • OKTA +30.01%
  • SPCE +38.41%
  • REPL +84.83%
  • PD +32.86%
  • ASTS -16.37%
  • PLTR +8.83%
  • CCCC +20.63%
  • ZETA +10.98%
  • 601728 +1.34%
  • FLNC -11.61%
  • ARM +5.26%
  • TBBB +13.17%
  • GEV -4.2%
  • RBRK +10.03%
  • KRMN -12.35%
  • SAIL +10.15%
  • ORCX +17.57%
  • ASTX -32.46%
  • PURR +18.09%
  • FPS +11.19%

Notable company-specific headlines from the session

  • Replimune Group Inc (REPL) - reached an agreement with the FDA on a melanoma drug resubmission, registering a move listed at +83.97%.
  • PagerDuty Inc (PD) - reported Q1 earnings and revenue that topped estimates, with the stock noted at +32.39%.
  • Social Capital Hedosophia (SPCE) - Virgin Galactic received preliminary approval for a $2.75M settlement, with SPCE listed at +28.26%.
  • China Telecom Corp Ltd (CHA) +24.31%
  • C4 Therapeutics Inc (CCCC) +20.25%
  • ORCX (ORCX) +17.94%
  • Hyperliquid Strategies (PURR) +17.39%
  • PLTU (PLTU) +17.38%
  • ASTX NYSE (ASTX) +4.97% (also shown elsewhere with a -32.46% move)

The session’s action underlines how discrete corporate developments - from analyst upgrades tied to AI server demand to earnings beats and capital raises - can produce outsized percentage moves across market-cap segments on a single trading day. Movements ranged from large gains in AI and software-related names to notable declines in retailers and several mid-cap industrials.

Risks

  • Revenue and guidance misses can drive sharp declines in sector-exposed stocks, affecting retailers and select mid-caps (e.g., GAP, AMBA).
  • Equity offerings and shareholder stock placements can weigh on share prices for affected issuers, as shown by Karman Holdings and Forgent Power Solutions.
  • High single-day volatility creates uncertainty for investors in small-cap and biotech names where regulatory or event-driven news (e.g., FDA resubmission developments) can trigger outsized moves.

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