May 08, 2026 · Market Brief

Pre-Market · May 08, 2026

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The semiconductor sector dominated overnight gains, with memory chip leaders SNDK (+14.3%), MU (+13.3%), and INTC (+13.4%) surging on AI data center demand and supply constraints, while broader chip equipment plays AMAT (+5.7%) and KLAC (+5.9%) caught the wave. The Nasdaq 100 (QQQ) jumped 2.03% and the triple-leveraged semis ETF (SOXL) exploded 14.64%, reflecting concentrated strength in AI infrastructure beneficiaries. Outside tech, earnings beats proved mixed: MNST (+12.9%) impressed on energy drink strength, CORPAY (+11.0%) delivered on payments growth, and MRNA (+10.5%) rallied on vaccine progress, but MTD (-15.0%) and EXPE (-7.7%) tumbled despite beating on weak guidance, while MELI (-12.7%) fell on margin compression concerns.

Recommendation

Buy dips in tier-one semiconductor names (INTC, MU, AMAT) if volatility creates pullbacks—the AI infrastructure thesis remains structurally intact. Avoid chasing extended gains in already-parabolic semis; instead, look for quality earnings beats with raising guidance like CORPAY and MNST as safer rotation targets. Sell or reduce positions in beaten-down guidance providers (EXPE, MTD, ZTS) until forward outlooks stabilize, and stay cautious on consumer discretionary until broader margin pressures ease.

Indices & ETFs

SPY$736.55

▲ 0.68%

7D ▲ 2.2%30D ▲ 9.0%6M ▲ 9.8%

QQQ$709.04

▲ 2.03%

7D ▲ 5.2%30D ▲ 17.0%6M ▲ 16.3%

TQQQ$75.64

▲ 6.03%

7D ▲ 15.8%30D ▲ 57.6%6M ▲ 43.0%

SOXL$174.37

▲ 14.64%

7D ▲ 33.7%30D ▲ 158.3%6M ▲ 317.8%

SPX$7388.50

▲ 0.70%

7D ▲ 2.2%30D ▲ 8.9%6M ▲ 9.8%

Top Movers26 movers

MTDMettler-Toledo International Inc.▼ 15.0%

Despite beating Q1 earnings and raising 2026 guidance, MTD's modest revenue beat of 0.04% and analyst concerns about forward growth sustainability likely triggered the 15% selloff.

Price

$1319.29 → $1121.52

Mkt Cap

$22.7B

P/E

26.3x

▼ 11.5%

30D

▼ 15.2%

▼ 22.1%

SNDKSandisk Corporation▲ 14.3%

SanDisk surged on strong AI data center demand and analyst upgrades citing the memory chip supercycle opportunity.

Price

$1339.96 → $1531.00

Mkt Cap

$226.7B

P/E

52.4x

▲ 29.0%

30D

▲ 96.1%

▲ 539.3%

INTCIntel Corporation▲ 13.4%

Intel rose 13.4% as chip stocks rallied broadly amid positive market sentiment and potential AI infrastructure demand recovery.

Price

$109.62 → $124.30

Mkt Cap

$625.7B

P/E

N/A

▲ 24.8%

30D

▲ 110.9%

▲ 226.0%

MUMicron Technology, Inc.▲ 13.3%

Micron surged on strong AI demand for memory chips and limited supply, continuing its historic rally alongside broader semiconductor strength.

Price

$646.63 → $732.50

Mkt Cap

$825.8B

P/E

34.5x

▲ 35.1%

30D

▲ 80.1%

▲ 207.9%

MNSTMonster Beverage Corporation▲ 12.9%

Monster surged after beating Q1 earnings expectations and allaying investor concerns about energy-drink market saturation amid strong category growth.

Price

$75.97 → $85.75

Mkt Cap

$83.8B

P/E

41.4x

▲ 11.2%

30D

▲ 14.1%

▲ 23.0%

MELIMercadoLibre, Inc.▼ 12.7%

MercadoLibre fell 12.7% after Q1 earnings missed estimates despite revenue growth, due to margin compression from aggressive scaling investments in fintech and commerce.

Price

$1870.01 → $1632.16

Mkt Cap

$82.7B

P/E

41.4x

▼ 11.8%

30D

▼ 8.1%

▼ 22.6%

DELLDell Technologies Inc.▲ 11.8%

Trump's public endorsement urging Americans to "buy Dell" drove the stock surge as investors responded to the presidential backing.

Price

$230.27 → $257.55

Mkt Cap

$167.5B

P/E

29.7x

▲ 22.5%

30D

▲ 38.9%

▲ 75.6%

MSIMotorola Solutions, Inc.▼ 11.5%

Motorola Solutions' stock fell 11.5% despite beating Q1 earnings because weak forward guidance disappointed investors despite raising full-year forecasts.

Price

$433.20 → $383.27

Mkt Cap

$63.7B

P/E

30.9x

▼ 12.1%

30D

▼ 14.4%

▼ 1.9%

CPAYCorpay, Inc.▲ 11.0%

Corpay beat Q1 earnings and revenue estimates with 46% Corporate Payments growth and raised 2026 guidance, signaling long-term compounder potential.

Price

$305.75 → $339.50

Mkt Cap

$22.5B

P/E

22.6x

▲ 10.5%

30D

▲ 11.7%

▲ 22.8%

GENGen Digital Inc.▲ 10.7%

Gen Digital reported strongest fiscal year in a decade with growth in cybersecurity and trust-based solutions, plus AI-native product launches.

Price

$20.19 → $22.35

Mkt Cap

$13.5B

P/E

23.0x

▲ 15.4%

30D

▲ 18.3%

▼ 13.3%

MRNAModerna, Inc.▲ 10.5%

Moderna surged 10.5% on positive Phase 3 flu vaccine results and hantavirus outbreak concerns driving investor optimism about pipeline expansion.

Price

$48.54 → $53.63

Mkt Cap

$21.3B

P/E

N/A

▲ 18.2%

30D

▲ 2.9%

▲ 118.6%

HUMHumana Inc.▲ 9.9%

Humana likely gained on positive managed care sector momentum and completion of its share buyback program, signaling confidence despite prior earnings miss and guidance cut.

Price

$247.12 → $271.55

Mkt Cap

$32.6B

P/E

29.0x

▲ 16.2%

30D

▲ 36.9%

▲ 7.7%

AMDAdvanced Micro Devices, Inc.▲ 9.1%

Chip stocks surged on AI trade enthusiasm and a report of an Apple-Intel deal, lifting AMD alongside the semiconductor sector rally.

Price

$408.46 → $445.61

Mkt Cap

$727.1B

P/E

149.6x

▲ 23.6%

30D

▲ 92.2%

▲ 90.8%

XYZBlock, Inc.▲ 8.0%

Block beat earnings expectations with strong Cash App and Square performance, while investors rewarded its AI-driven restructuring strategy.

Price

$70.14 → $75.77

Mkt Cap

$45.2B

P/E

36.1x

▲ 5.5%

30D

▲ 20.6%

▲ 15.8%

EXPEExpedia Group, Inc.▼ 7.7%

Despite beating Q1 earnings, Expedia's weak Q2 guidance and Middle East travel disruptions spooked investors, causing the selloff.

Price

$252.79 → $233.29

Mkt Cap

$28.1B

P/E

23.9x

▼ 7.4%

30D

▼ 1.5%

▼ 9.7%

FISFidelity National Information Services, Inc.▼ 7.6%

Despite beating Q1 earnings and revenue estimates, FIS declined 7.6%, likely due to disappointing forward guidance or margin concerns offsetting the positive quarterly results.

Price

$47.25 → $43.65

Mkt Cap

$22.6B

P/E

59.8x

▼ 6.2%

30D

▼ 7.1%

▼ 32.6%

QCOMQUALCOMM Incorporated▲ 7.5%

QCOM surged 7.5% as chip stocks rallied on stronger-than-expected April jobs data and continued semiconductor sector momentum.

Price

$202.55 → $217.73

Mkt Cap

$229.7B

P/E

23.4x

▲ 23.0%

30D

▲ 70.8%

▲ 27.4%

HPQHP Inc.▲ 6.9%

HP stock likely surged 6.9% today as investors reassess its AI potential amid broader market enthusiasm for old tech companies capitalizing on AI demand.

Price

$20.99 → $22.44

Mkt Cap

$20.6B

P/E

8.5x

▲ 7.7%

30D

▲ 18.8%

▼ 14.6%

APPAppLovin Corporation▼ 6.3%

AppLovin likely fell 6.3% as investors took profits following strong Q1 earnings, with some rotation toward undervalued ad-tech peers like Trade Desk despite its guidance miss.

Price

$498.87 → $467.61

Mkt Cap

$157.2B

P/E

40.6x

▲ 1.7%

30D

▲ 19.5%

▼ 24.6%

ZTSZoetis Inc.▼ 6.0%

Zoetis cut 2026 guidance after Q1 earnings missed expectations, citing softer U.S. pet demand outlook.

Price

$87.31 → $82.05

Mkt Cap

$34.7B

P/E

13.5x

▼ 28.1%

30D

▼ 31.5%

▼ 31.8%

MRVLMarvell Technology, Inc.▲ 5.9%

Marvell surged on Nvidia's $2 billion investment, AI chip collaborations with Alphabet, and strategic acquisitions strengthening data center capabilities.

Price

$160.01 → $169.49

Mkt Cap

$148.3B

P/E

55.2x

▲ 2.8%

30D

▲ 48.1%

▲ 86.4%

KLACKLA Corporation▲ 5.9%

KLA stock likely rose on strong Q3 earnings, positive guidance, and investor optimism about AI-driven advanced packaging growth opportunities.

Price

$1763.25 → $1867.10

Mkt Cap

$243.8B

P/E

52.9x

▲ 8.2%

30D

▲ 11.6%

▲ 56.5%

AXONAxon Enterprise, Inc.▼ 5.8%

AXON fell 5.8% despite raising 2026 revenue guidance, likely due to Q1 earnings miss driven by tariff-related margin compression.

Price

$426.89 → $402.02

Mkt Cap

$32.4B

P/E

162.0x

▼ 0.1%

30D

▲ 2.7%

▼ 33.3%

AMATApplied Materials, Inc.▲ 5.7%

Applied Materials received a new high price target from Seaport, highlighting its nearly irreplaceable role in AI semiconductor manufacturing equipment.

Price

$410.64 → $434.16

Mkt Cap

$344.6B

P/E

44.6x

▲ 11.6%

30D

▲ 12.6%

▲ 88.7%

CSGPCoStar Group, Inc.▼ 5.5%

CoStar's 5.5% decline likely reflects profit-taking after recent strong earnings, raised guidance, and CEO confidence signals drove shares higher.

Price

$34.98 → $33.06

Mkt Cap

$13.5B

P/E

472.4x

▼ 4.8%

30D

▼ 14.9%

▼ 51.0%

FTNTFortinet, Inc.▲ 5.4%

# Fortinet Stock Rise Fortinet upgraded to Zacks Rank #2 (Buy) on optimism about improved earnings prospects, driving investor confidence.

Price

$107.97 → $113.82

Mkt Cap

$83.3B

P/E

47.0x

▲ 31.9%

30D

▲ 36.3%

▲ 39.2%

All Reports

Updated 12:31 PM · May 8, 2026