Stock Markets April 8, 2026 10:31 AM

Chipmakers Lead Gains as Energy and Select Industrials Slip in Midweek Trading

Lam Research, Applied Materials and other semiconductor names rally while Exxon Mobil and several materials firms weigh on the market

By Sofia Navarro LRCX AMAT INTC MU KLAC
Chipmakers Lead Gains as Energy and Select Industrials Slip in Midweek Trading
LRCX AMAT INTC MU KLAC

Stocks moved sharply on Wednesday with notable strength among semiconductor equipment and memory names and pronounced weakness in certain energy and materials companies. Mega-cap chipmakers including Lam Research and Applied Materials posted double-digit and high-single-digit gains, respectively, while Exxon Mobil recorded a notable decline. Mid- and small-cap lists saw a mix of large advances and steep drops across travel, energy and consumer-related names.

Key Points

  • Semiconductor equipment and memory stocks led gains among mega-cap names, with Lam Research up 10.1% and Applied Materials rising 8.95%.
  • Travel and leisure names such as Carnival and United Airlines recorded double-digit advances, while several energy and materials companies posted some of the steepest declines.
  • Movements were evident across market-cap categories, from large-cap dividend-paying industrials to volatile small-cap issuers, indicating cross-sector dispersion in performance.

Wednesday's session featured wide swings across market-cap segments as investors reacted to company-specific news and broader market flows. The session's biggest percentage winners were concentrated in semiconductors and travel-related stocks, while several energy and chemicals names posted some of the day’s largest losses.


Mega-cap movers (market cap: $200 billion or higher)

  • Lam Research (LRCX) +10.1%
  • Applied Materials (AMAT) +8.95% - Applied Materials unveils chipmaking systems for 2nm GAA transistors
  • Intel (INTC) +8.19%
  • Micron Technology (MU) +8.19%
  • KLA-Tencor (KLAC) +7.52%
  • General Electric (GE) +6.48%
  • Home Depot (HD) +5.76%
  • Caterpillar (CAT) +5.5% - Caterpillar maintains quarterly dividend at $1.51 per share
  • Alibaba (BABA) +5.07%
  • Exxon Mobil (XOM) -6.16%

Large-cap movers (market cap: $10-$200 billion)

  • Carnival Corp (CCL) +13.0%
  • Bloom Energy (BE) +12.48%
  • United Airlines (UAL) +11.46%
  • RPM International (RPM) +12.38% - RPM International surges nearly 10% on earnings beat, strong guidance
  • Southwest Airlines (LUV) +9.48%
  • Tempur Sealy International (SGI) +10.68%
  • Venture Global (VG) -12.54%
  • LyondellBasell Industries (LYB) -13.69%
  • Apache Corp (APA) -10.96%
  • CF Industries (CF) -10.48%

Mid-cap movers (market cap: $2-$10 billion)

  • AXT Inc (AXTI) +23.53%
  • Vicor Corp (VICR) +14.99%
  • Inflection Point Acquisition II (USAR) +13.28%
  • Compass (COMP) +11.9%
  • Oscar Health (OSCR) +11.87%
  • Levi Strauss & Co (LEVI) +10.86% - Levi Strauss jumps 5% on Q1 earnings beat, raised guidance
  • Alaska Air (ALK) +10.84%
  • MakeMyTrip (MMYT) +16.41%
  • Patterson Uti Energy Inc (PTEN) -13.49%
  • Harmony Merger Corp (NEXT) -13.86%

Small-cap movers (market cap: $300 million - $2 billion)

  • Aehr Test Systems (AEHR) +27.41% - Aehr Test shares fall 5% on revenue miss despite bookings surge
  • Mega Fortune Co Ltd (MGRT) +25.77%
  • Bleichroeder Acquisition I (MRLN) +26.35%
  • SNXX (SNXX) +21.52%
  • Overstock.com (BBBY) +15.75% - Bed Bath & Beyond to acquire F9 Brands for nearly $150 million
  • MUU (MUU) +15.96%
  • Swiftmerge Acquisition (ANNA) -21.77%
  • Amplify Snack Brands Inc (BETR) -23.52%
  • W & T Offshore Inc (WTI) -16.27%
  • UVIX (UVIX) -18.37%

Across market-cap tiers, the session showed clusters of outsized gains in the semiconductor equipment, memory and travel sectors, while parts of the energy and materials complex experienced notable declines. The lists above capture the session’s largest percentage movers, from mega-cap blue chips to speculative small-cap names.

Risks

  • Sharp intraday moves create continued volatility risk for investors in small- and mid-cap names, which saw both large gains and steep losses.
  • Sector concentration in gains (semiconductor equipment and memory) and losses (energy and materials) may increase sector-specific exposure for portfolios.
  • Company-specific news both lifted and pressured individual stocks; reliance on single-company announcements introduces execution and guidance risk for traders and shareholders.

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