Late Night Market Recap

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  Night.Owl
 
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•  26 Nov 2025
 

•   ADSK  
   
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•   CLSK  
   
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•   DELL  
   
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•   MRVL  
   
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•   NIO  
   
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$DELL AI server business exploded past expectations. Dell Technologies reported third-quarter fiscal 2026 earnings of $2.59 per share, beating estimates of $2.47, but the real story was AI server revenue rocketing over 100% year-over-year. Management raised full-year guidance with fourth-quarter EPS expectations of $3.50, well above consensus. Goldman Sachs analysts expressed surprise at the strength, while Bank of America Securities lifted their price target to $163, maintaining a buy rating as Dell cements its position in the AI infrastructure buildout.

$CLSK jumped on its strategic pivot toward AI infrastructure. The bitcoin mining company outlined plans for AI campus expansion backed by a $1.15 billion convertible note offering, with multibillion-dollar colocation deals reportedly in the works. Needham maintained their buy recommendation, forecasting over 116% upside as CleanSpark transitions beyond pure-play crypto mining.

$NTNX plummeting 17.75% after missing first-quarter revenue estimates and cutting fiscal 2026 guidance. Nutanix posted $670.58 million in revenue versus expectations of $676.75 million, with timing delays blamed for the shortfall. Despite raising free cash flow targets to $800 million to $840 million, investors punished the stock as KeyBanc lowered their price target to $65.

$ADSK delivering strong fiscal third-quarter results. Autodesk reported adjusted EPS of $2.67 against expectations of $2.50, while revenue climbed 18% to $1.85 billion. Direct sales surged 85% driven by the company's online store, and strength in Architecture, Engineering, Construction, and Operations continues validating the growth story. Management raised full-year guidance, prompting analysts to increase their forecasts.

$NIO despite beating earnings expectations with a loss of $0.16 per share versus estimates of negative $0.22. The Chinese EV maker's weak fourth-quarter revenue forecast overshadowed the beat, and investors remained concerned about the path to profitability despite strategic moves including Thailand market entry and Firefly EV's expansion into right-hand drive markets to avoid tariffs.

$MRVL HSBC initiated coverage with a hold rating and $85 price target, calling Marvell an important AI player though not a top contender. Options activity suggested institutional positioning for significant movement in the stock.

$NTAP declined despite beating second-quarter estimates with EPS of $2.05 versus expectations of $1.89. NetApp raised fiscal 2026 guidance and declared a $0.52 dividend, highlighting AI demand and all-flash storage strength, but analysts remained uncertain about fiscal 2027 prospects.

The broader market closed higher with the Dow gaining over 350 points, while the Fear and Greed Index remained in extreme fear territory despite some easing in sentiment.

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