May 13, 2026 · Market Brief

Pre-Market · May 13, 2026

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Semiconductor and AI infrastructure stocks dominated overnight gains, with SOXL jumping 7.81% on the back of individual performers like MRVL (+8.5%), ON (+10.1%), COHR (+8.9%), and ARM (+6.1%)—all riding analyst upgrades tied to data center demand and AI licensing tailwinds. Broader indices followed suit: QQQ +1.19%, SPY +0.72%. However, weakness emerged in software and services names—ACN (-6.7%), FDS (-6.5%), IT (-5.2%)—where forward guidance concerns and slowing client decision-making overshadowed earnings beats. Defensive picks like PANW (+5.4%) and GEN (+5.9%) managed gains by emphasizing AI integration, while healthcare and industrials showed mixed signals, with notable outliers like F (+15.8% on energy storage upside) and MRNA (-5.2% after hantavirus fears faded).

Recommendation

Buy:** Maintain or add to semiconductor and AI infrastructure exposure (MRVL, ARM, COHR, AKAM) while valuations benefit from sector momentum and proven demand drivers. **Sell/Reduce:** Trim positions in enterprise software and consulting names facing forward guidance headwinds (ACN, FDS) until management restores confidence. **Hold:** Cyclical plays like F and defensive tech (PANW, GEN) remain balanced bets pending clarity on macro sentiment.

Indices & ETFs

SPY$743.48

▲ 0.72%

7D ▲ 1.3%30D ▲ 8.4%6M ▲ 8.8%

QQQ$715.64

▲ 1.19%

7D ▲ 2.9%30D ▲ 15.9%6M ▲ 15.2%

TQQQ$77.63

▲ 3.56%

7D ▲ 8.5%30D ▲ 53.2%6M ▲ 39.2%

SOXL$186.00

▲ 7.81%

7D ▲ 12.1%30D ▲ 130.9%6M ▲ 325.5%

SPX$7456.09

▲ 0.74%

7D ▲ 1.2%30D ▲ 8.3%6M ▲ 8.8%

Top Movers20 movers

FFord Motor Company▲ 15.8%

Morgan Stanley upgraded Ford citing its energy storage business as undervalued, highlighting competitive battery technology advantages driving the surge.

Price

$11.99 → $13.89

Mkt Cap

$55.4B

P/E

N/A

▲ 14.1%

30D

▲ 14.2%

▲ 3.3%

ONON Semiconductor Corporation▲ 10.1%

ON Semiconductor rose 10.1% as semiconductor stocks broadly surged despite non-AI players facing weak results, driven by tech sector momentum.

Price

$104.11 → $114.67

Mkt Cap

$45.0B

P/E

84.4x

▲ 8.4%

30D

▲ 61.5%

▲ 132.7%

AKAMAkamai Technologies, Inc.▲ 9.6%

Bank of America upgraded Akamai to Buy, citing its successful pivot to an AI infrastructure platform following a $1.8 billion AI deal.

Price

$149.56 → $163.99

Mkt Cap

$23.8B

P/E

55.4x

▲ 34.4%

30D

▲ 72.7%

▲ 82.0%

COHRCoherent Corp.▲ 8.9%

Bank of America raised Coherent's price target to $400, citing a $1.7 trillion AI data center market forecast, boosting investor optimism.

Price

$374.01 → $407.48

Mkt Cap

$79.7B

P/E

195.0x

▲ 18.2%

30D

▲ 32.3%

▲ 160.1%

MRVLMarvell Technology, Inc.▲ 8.5%

Major analyst upgrade and semiconductor sector momentum from AI-driven growth expectations lifted Marvell stock today.

Price

$164.50 → $178.50

Mkt Cap

$156.0B

P/E

57.9x

▲ 3.7%

30D

▲ 35.9%

▲ 99.8%

HPEHewlett Packard Enterprise Company▲ 7.1%

HPE surged 7.1% on announcements of AI-native autonomous networking and expanded edge AI capabilities, capitalizing on strong industry AI demand.

Price

$30.21 → $32.35

Mkt Cap

$43.0B

P/E

N/A

▲ 6.5%

30D

▲ 30.4%

▲ 37.8%

PODDInsulet Corporation▼ 6.9%

Insulet's disappointing Q1 earnings announcement failed to impress investors despite strong revenue growth and raised guidance, triggering the 6.9% decline.

Price

$158.35 → $147.49

Mkt Cap

$10.2B

P/E

34.5x

▼ 2.5%

30D

▼ 25.4%

▼ 56.2%

ACNAccenture plc▼ 6.7%

Accenture likely declined 6.7% due to weak forward guidance concerns, similar to peer Genpact's post-earnings selloff despite beating estimates.

Price

$169.77 → $158.34

Mkt Cap

$97.4B

P/E

13.0x

▼ 9.3%

30D

▼ 17.5%

▼ 35.8%

FDSFactSet Research Systems Inc.▼ 6.5%

# FDS Decline Reason FactSet's own research showing investors punishing earnings misses more severely than rewarding beats may signal market concerns about FDS meeting heightened earnings expectations.

Price

$215.92 → $201.88

Mkt Cap

$7.3B

P/E

12.9x

▼ 4.7%

30D

▼ 10.8%

▼ 25.7%

TECHBio-Techne Corporation▼ 6.3%

Bio-Techne's Q3 earnings missed expectations despite profit growth, with weakness in emerging biotech spending offsetting pharmaceutical strength.

Price

$47.42 → $44.45

Mkt Cap

$7.0B

P/E

63.4x

▼ 6.2%

30D

▼ 22.7%

▼ 27.6%

APPAppLovin Corporation▼ 6.3%

# AppLovin Stock Down 6.3% Based on the provided articles, a likely reason for the decline is: **AppLovin's revenue growth trajectory is diverging negatively compared to competitors like The Trade Desk, signaling investor concerns about competitive positioning.**

Price

$490.69 → $460.01

Mkt Cap

$154.5B

P/E

40.1x

▼ 1.9%

30D

▲ 10.2%

▼ 21.3%

CEGConstellation Energy Corporation▼ 6.2%

Investors are selling despite strong earnings due to concerns over AI data center demand delays and grid interconnection uncertainties affecting future growth.

Price

$293.60 → $275.41

Mkt Cap

$99.5B

P/E

23.9x

▼ 14.7%

30D

▼ 5.6%

▼ 22.2%

ARMArm Holdings plc▲ 6.1%

KeyBanc raised ARM's price target to $300, citing strong AI and data center demand accelerating licensing growth.

Price

$207.92 → $220.65

Mkt Cap

$235.0B

P/E

259.8x

▼ 7.0%

30D

▲ 40.0%

▲ 48.3%

TRIThomson Reuters Corporation▼ 6.1%

TRI declined 6.1% despite strong Q1 earnings and raised dividend, likely due to investor concerns that Anthropic's expanded legal AI tools threaten Thomson Reuters' competitive moat.

Price

$87.27 → $81.97

Mkt Cap

$35.8B

P/E

23.6x

▼ 10.7%

30D

▼ 6.2%

▼ 40.7%

GENGen Digital Inc.▲ 5.9%

Gen Digital's strongest fiscal year in a decade, driven by core cybersecurity growth and AI-enhanced Norton Neo browser features, likely boosted investor confidence.

Price

$22.04 → $23.34

Mkt Cap

$14.1B

P/E

14.8x

▲ 19.4%

30D

▲ 23.5%

▼ 13.5%

JJacobs Solutions Inc.▼ 5.7%

Despite winning a Nashville contract and posting strong Q2 earnings with record backlog, Jacobs shares fell 5.7%, likely due to valuation concerns offsetting positive fundamentals.

Price

$114.15 → $107.68

Mkt Cap

$12.7B

P/E

31.7x

▼ 15.0%

30D

▼ 14.1%

▼ 30.4%

PANWPalo Alto Networks, Inc.▲ 5.4%

# Palo Alto Networks (PANW) +5.4% Gain Investors responded positively to PANW's AI and integration updates, with analysts raising fair value targets amid optimistic sentiment around the company's evolving AI-driven cybersecurity strategy.

Price

$215.60 → $227.35

Mkt Cap

$184.5B

P/E

127.1x

▲ 23.8%

30D

▲ 39.9%

▲ 8.2%

ITGartner, Inc.▼ 5.2%

Gartner's stock declined 5.2% despite beating Q1 earnings estimates, likely due to management's warning that client decision-making slowed in March amid geopolitical uncertainty.

Price

$152.96 → $145.02

Mkt Cap

$9.7B

P/E

14.3x

▼ 4.0%

30D

▼ 6.0%

▼ 37.0%

MRNAModerna, Inc.▼ 5.2%

Hantavirus trade enthusiasm faded as health officials downgraded outbreak risk to "low" to "very low," eliminating near-term revenue prospects.

Price

$53.27 → $50.52

Mkt Cap

$20.0B

P/E

N/A

▲ 3.5%

30D

▼ 0.3%

▲ 89.1%

CVNACarvana Co.▼ 5.0%

Carvana's 5-for-1 stock split began trading today, causing the 5% decline as prices adjusted to the split-adjusted basis.

Price

$73.72 → $70.02

Mkt Cap

$55.6B

P/E

40.5x

▼ 10.1%

30D

▼ 2.6%

▲ 6.7%

All Reports

Updated 12:31 PM · May 13, 2026