Late Night Market Recap

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•  23 Feb 2026
 

•   ABT  
   
  -0.52%
•   ACLX  
   
  +0.04%
•   D  
   
  -0.86%
•   GILD  
   
  -1.12%
•   HD  
   
  +2.93%

$NVO Novo Nordisk led the day declines, falling 16.43% to close at $39.63 after its next-generation weight-loss drug failed to meet the primary endpoint in a head-to-head trial against Eli Lilly tirzepatide. Trading volume spiked to 89.9M shares, signaling heavy investor reaction as the disappointment erased prior gains from the Wegovy era. The sell-off impacted broader market sentiment, particularly in healthcare-focused indices, highlighting the sensitivity of biotech equities to clinical trial outcomes.

$ACLX Arcellx surged 77.43% on volume of 30.7M shares amid news that Gilead Sciences agreed to acquire the company to advance its next-generation myeloma drug. The jump reflects strong M&A-driven demand and investor confidence in the strategic partnership, with markets rewarding the clear path to commercialization and the expected value unlocked from the transaction. Such moves reinforce the premium investors are willing to pay for biotech assets with near-term catalysts.

$VRE Veris Residential jumped 12.28% to $12.28 on 18.5M shares as the company announced it will be acquired by an Affinius Capital-led consortium for $3.4B in cash, translating to $19 per share for investors. The deal emphasizes the strength of the REIT portfolio and the appeal of stable, income-generating real estate assets in current market conditions. Volume and price action indicate decisive buying as investors position for the deal close.

$IBM International Business Machines Corporation fell 13.15% to $166.34M on unusually heavy volume of 16.6M shares as AI-related concerns spurred a market-wide sell-off. The reaction was driven by investor apprehension over new AI tools challenging legacy software offerings, with shares experiencing their worst single-day drop in over 25 years. This highlights the growing sensitivity of tech giants to emerging AI competitors and market volatility around innovation disruption.

$SNOW Snowflake slipped 8.64% on 9.85M shares as investors weighed the upcoming Q4 earnings against market expectations. While the underlying business continues to grow, the muted pre-earnings price action suggests caution ahead of results, reflecting broader investor attention to tech valuations and guidance reliability.

$D Dominion Energy edged down 2.62% to $74.37M with 7.44M shares traded despite reporting Q4 EPS of $0.68 beating estimates by $0.01 and revenues of $4.09B surpassing expectations by $370M. Shares reacted mildly negative as the market digested forward guidance of $3.45–$3.69 per share for 2026, showing that strong fundamentals do not always translate into immediate upside in defensive sectors amid broad market weakness.

$ABT Abbott Laboratories gained 2.74% on 6.18M shares as investors focused on the consistent dividend payments and resilient healthcare operations. The quarter 63-cent dividend underscores the reliable income profile that continues to attract long-term investors, particularly in a market with elevated volatility.

$GILD Gilead Sciences dipped 1.04% on 4.38M shares despite the strategic acquisition of Arcellx, reflecting minor profit-taking and measured investor response to the deal impact on longer-term growth prospects. The modest decline amid positive news indicates disciplined positioning by institutional holders.

$HD Home Depot fell 1.38% on 3.93M shares ahead of its Q4 earnings release. Analysts expect EPS of $2.53 per share, and the slight pullback reflects cautious positioning by traders awaiting confirmation of seasonal strength and broader housing market trends.

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