May 29, 2026 · Market Brief

Pre-Market · May 29, 2026

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Dell's $60 billion AI server quarter and Snowflake's strong earnings sparked a broad software and infrastructure rally overnight. NTAP exploded 25.7% on blowout AI guidance, while infrastructure plays SMCI (+11.0%), HPE (+12.5%), and ORCL (+9.7%) surged on data center buildout tailwinds. Enterprise software names followed suit—WDAY, NOW, and CRM all gained 9-13%—as the "SaaSpocalypse" narrative dissolved and investors rotated into beaten-down cloud and AI-enabled names like DDOG (+8.5%), PANW (+8.4%), and CRWD (+8.1%). The only notable casualty was COHR (-6.9%), which saw profit-taking despite strong underlying photonics demand.

Recommendation

Buy AI infrastructure plays on any dip; the earnings catalyst confirms multi-year spending cycle momentum. Avoid chasing already-extended software names like NOW and WDAY at +13-14% overnight—lock in gains if you own them, or wait for pullback entries. Monitor COHR as a potential tactical buy if optics weakness continues, as the underlying demand thesis remains intact despite today's reversal.

Indices & ETFs

SPY$756.93

▲ 0.31%

7D ▲ 1.5%30D ▲ 6.4%6M ▲ 10.8%

QQQ$737.98

▲ 0.32%

7D ▲ 2.8%30D ▲ 11.5%6M ▲ 19.2%

TQQQ$84.49

▲ 0.97%

7D ▲ 8.5%30D ▲ 36.6%6M ▲ 54.9%

SOXL$221.68

▼ 1.31%

7D ▲ 16.3%30D ▲ 87.9%6M ▲ 437.3%

SPX$7586.80

▲ 0.31%

7D ▲ 1.5%30D ▲ 6.3%6M ▲ 10.8%

Top Movers21 movers

NTAPNetApp, Inc.▲ 25.7%

NetApp surged on blowout earnings guidance driven by surging AI demand and infrastructure spending.

Price

$142.40 → $178.97

Mkt Cap

$35.4B

P/E

28.1x

▲ 28.4%

30D

▲ 64.7%

▲ 60.4%

NOWServiceNow, Inc.▲ 13.5%

ServiceNow surged 14% as investors rotated into beaten-down enterprise software stocks following Dell's blowout earnings and accelerating enterprise AI demand.

Price

$108.73 → $123.42

Mkt Cap

$127.3B

P/E

73.0x

▲ 20.8%

30D

▲ 38.8%

▼ 24.0%

HPEHewlett Packard Enterprise Company▲ 12.5%

Dell's record AI server revenue and upgraded outlook sparked a sector-wide rally in AI infrastructure stocks, lifting HPE alongside competitors.

Price

$38.21 → $43.01

Mkt Cap

$57.0B

P/E

N/A

▲ 14.4%

30D

▲ 52.0%

▲ 96.6%

WDAYWorkday, Inc.▲ 12.0%

Snowflake's strong earnings eased "SaaSpocalypse" fears, boosting confidence in enterprise software stocks like Workday.

Price

$130.01 → $145.58

Mkt Cap

$36.0B

P/E

45.4x

▲ 13.6%

30D

▲ 18.9%

▼ 32.5%

SMCISuper Micro Computer, Inc.▲ 11.0%

Dell's record Q1 earnings and strong AI server demand sparked an industry-wide rally, benefiting Super Micro as a key AI infrastructure supplier.

Price

$41.30 → $45.85

Mkt Cap

$27.5B

P/E

24.1x

▲ 28.9%

30D

▲ 74.2%

▲ 35.5%

ORCLOracle Corporation▲ 9.7%

Oracle surged 9.7% as investors bet on its dominant position supplying database infrastructure for massive AI data center buildouts.

Price

$203.70 → $223.56

Mkt Cap

$642.5B

P/E

40.2x

▲ 16.4%

30D

▲ 36.5%

▲ 10.7%

CRMSalesforce, Inc.▲ 9.5%

Enterprise AI demand surge and capital rotation into software stocks following Dell's blockbuster $60 billion AI server quarter.

Price

$176.17 → $192.98

Mkt Cap

$157.8B

P/E

22.3x

▲ 7.2%

30D

▲ 6.5%

▼ 16.3%

PLTRPalantir Technologies Inc.▲ 9.5%

Palantir surged on Dell's stellar earnings beat, which validated their AI partnership, alongside broad software sector strength from Snowflake's results.

Price

$143.34 → $156.93

Mkt Cap

$376.6B

P/E

176.5x

▲ 14.6%

30D

▲ 13.7%

▼ 6.8%

HPQHP Inc.▲ 9.0%

HP gained 9% today as investors cheered better-than-expected earnings with stronger revenue and cash flow, though concerns about rising memory costs limit upside.

Price

$25.01 → $27.25

Mkt Cap

$24.9B

P/E

10.1x

▲ 8.0%

30D

▲ 35.3%

▲ 11.6%

DDOGDatadog, Inc.▲ 8.5%

Datadog surged 8.5% on broad-based AI-driven growth momentum, Goldman Sachs' raised price target, and strong cloud observability demand thesis.

Price

$225.24 → $244.45

Mkt Cap

$87.0B

P/E

643.5x

▲ 10.0%

30D

▲ 82.5%

▲ 52.8%

PANWPalo Alto Networks, Inc.▲ 8.4%

PANW likely surged on strong cybersecurity demand momentum following CrowdStrike's positive Q1 earnings outlook and broader AI security adoption trends.

Price

$257.77 → $279.33

Mkt Cap

$226.4B

P/E

155.1x

▲ 7.2%

30D

▲ 53.9%

▲ 46.9%

CDWCDW Corporation▲ 8.4%

CDW surged 8.4% as Q1 earnings beat expectations and a $1 billion share buyback authorization boost investor confidence amid improving macro conditions.

Price

$116.16 → $125.86

Mkt Cap

$16.1B

P/E

15.3x

▲ 13.6%

30D

▼ 7.2%

▼ 12.7%

CRWDCrowdStrike Holdings, Inc.▲ 8.1%

CrowdStrike surged as Snowflake's strong Q1 earnings eased "SaaSpocalypse" fears, signaling renewed investor confidence in software company valuations.

Price

$671.00 → $725.31

Mkt Cap

$184.7B

P/E

N/A

▲ 9.3%

30D

▲ 60.3%

▲ 42.5%

VEEVVeeva Systems Inc.▲ 7.4%

Veeva jumped on news that CDMO Kindeva adopted its Veeva Quality Cloud platform, driving optimism around enterprise cloud software adoption in life sciences.

Price

$164.38 → $176.61

Mkt Cap

$28.8B

P/E

32.5x

▲ 10.3%

30D

▲ 11.6%

▼ 26.5%

COHRCoherent Corp.▼ 6.9%

Coherent stock fell as investors rotated out of AI optics names amid profit-taking, despite strong underlying demand for photonics infrastructure.

Price

$376.95 → $350.91

Mkt Cap

$68.7B

P/E

166.3x

▼ 7.1%

30D

▲ 15.1%

▲ 113.6%

ADBEAdobe Inc.▲ 6.8%

Adobe surged on evidence that its AI tools drive higher retail conversion rates and positive analyst backing despite earlier concerns about AI disrupting its core business.

Price

$241.44 → $257.93

Mkt Cap

$104.3B

P/E

15.0x

▲ 5.4%

30D

▲ 5.9%

▼ 19.4%

APTVAptiv PLC▲ 6.2%

Aptiv surged 6.2% following Q1 2026 profit turnaround, positive guidance updates, and a new automation partnership with Comau.

Price

$63.67 → $67.63

Mkt Cap

$14.3B

P/E

40.3x

▲ 17.9%

30D

▲ 15.9%

▼ 12.8%

ACNAccenture plc▲ 5.4%

# Accenture (ACN) +5.4% Today **Investor appetite for dividend stocks increased amid strong market conditions and AI-driven enterprise spending growth.**

Price

$178.40 → $188.07

Mkt Cap

$115.8B

P/E

15.4x

▲ 4.9%

30D

▲ 4.3%

▼ 24.8%

CLXThe Clorox Company▼ 5.4%

Clorox CEO Linda Rendle is stepping down for health reasons, creating leadership uncertainty and triggering investor concern about company direction.

Price

$96.20 → $91.05

Mkt Cap

$11.0B

P/E

14.8x

▼ 4.3%

30D

▼ 3.9%

▼ 15.6%

INTUIntuit Inc.▲ 5.3%

Intuit's AI-driven financial tools and integration with ChatGPT's banking features are driving investor confidence in its competitive positioning.

Price

$313.00 → $329.56

Mkt Cap

$90.2B

P/E

20.1x

▲ 3.0%

30D

▼ 16.6%

▼ 48.0%

FFord Motor Company▲ 5.2%

Ford's stock surge is driven by investor enthusiasm over its energy storage and battery business pivoting toward AI data center power infrastructure demand.

Price

$16.65 → $17.51

Mkt Cap

$69.8B

P/E

N/A

▲ 17.3%

30D

▲ 43.1%

▲ 31.9%

All Reports

Updated 12:31 PM · May 29, 2026