Late Night Market Recap

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•  03 Feb 2026
 

•   AMD  
   
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•   CMG  
   
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•   DIS  
   
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•   HOOD  
   
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•   MRK  
   
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$PYPL dominated the session with a dramatic selloff after a triple blow of negative catalysts. Fourth quarter earnings and revenue missed estimates, forward guidance disappointed, and the company announced a CEO transition replacing Alex Chriss with Enrique Lores effective March 1. Despite reporting higher net income year over year, investors focused on weaker transaction metrics and a soft 2026 outlook. The stock plunged more than 20% on massive volume exceeding 140 million shares, wiping out roughly $10 billion in market value and marking one of the sharpest single day reactions in large cap fintech this season.

$PLTR moved in the opposite direction, surging after another standout earnings report. Revenue jumped 70% year over year to $1.4 billion, driven by accelerating commercial demand and sustained AI momentum. Analysts responded quickly, with at least one major price target raised to $200. Strong margins and upbeat guidance reinforced the narrative that Palantir continues to execute at scale. Trading volume topped 111 million shares as investors rotated aggressively into the name, making it one of the Nasdaq 100’s strongest performers.

$AMD delivered a technical beat in the fourth quarter, posting revenue of $10.27 billion and exceeding earnings expectations by a wide margin. The company also outlined a path toward greater than 60% annual data center growth and multi billion dollar AI revenue by 2027. However, shares slipped as first quarter guidance failed to meet elevated expectations amid the ongoing AI spending boom. Roughly 41 million shares changed hands as the market signaled that in this environment, strong results are not enough without a clear upside surprise.

$HOOD extended its recent volatility, sliding more than 3% as sentiment around high beta fintech and trading platforms remained fragile. The stock is now trading at a steep discount to its 52 week highs, and the pullback has sparked debate among growth investors about valuation versus macro sensitivity. Volume reached over 36 million shares, reflecting active repositioning.

$CMG posted a solid earnings beat with revenue of $2.98 billion and EPS topping estimates. Management outlined plans to expand toward 7000 North American units and accelerate global growth in 2026. Still, comparable sales trends and cautious commentary around traffic weighed on sentiment. Shares finished modestly higher on more than 32 million shares traded, as investors balanced operational execution against softer near term consumer signals.

$SMCI reported a strong quarter with earnings and revenue comfortably beating expectations. Revenue growth outpaced forecasts by over 20% and earnings topped estimates by more than 40%, reinforcing the company’s positioning in AI optimized server infrastructure. Shares were relatively stable despite the beat, with about 31 million shares traded, suggesting the market had largely priced in strong performance.

$MRK delivered a fourth quarter earnings and revenue beat, with non GAAP EPS of $2.04 and revenue of $16.4 billion exceeding estimates. However, 2026 sales guidance came in below consensus due to patent headwinds, tempering enthusiasm. Shares gained modestly on roughly 22 million shares of volume as investors weighed near term pressure against a long-term portfolio transformation targeting a $70 billion revenue opportunity by the mid 2030s.

$DIS remained under pressure as the company confirmed another leadership transition. Bob Iger will step down next month, with parks chief Josh DAmaro set to take over as CEO. The announcement closes a prolonged succession process but adds fresh uncertainty around strategic direction. Shares edged lower on over 21 million shares traded as investors reassessed the impact of leadership change on streaming profitability and park performance.

$SNOW fell sharply after unveiling new AI tools and announcing a $200 million deal with OpenAI. Despite the product expansion aimed at accelerating enterprise AI adoption, broader software sector weakness and valuation concerns dominated trading. The stock dropped more than 9% on nearly 14 million shares, with some technical indicators flashing oversold conditions as growth investors reassess exposure.

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