Late Night Market Recap Where the Big Moves Happened Today

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•  06 May 2026
 

$AMD was the undisputed star of the session, surging roughly 16% on a blowout earnings report that sent the broader semiconductor sector into rally mode. Revenue and guidance both cleared estimates by a wide margin, CEO Lisa Su confirmed the company has secured critical AI memory supply, and she projected a server CPU revenue opportunity exceeding $120 billion driven by agentic AI demand. Volume hit 79 million shares, nearly double the average, confirming this was institutional conviction and not retail noise. Cathie Wood sold $16 million worth of the stock into the strength, which is worth noting, but the market largely shrugged and kept buying.

$SMCI rode the semiconductor wave with a 24% gain and volume of 116 million shares making it the most actively traded name on the tape today. The company reported mixed Q3 results with earnings of $0.84 per share but delivered upbeat guidance that was enough to send the stock sharply higher. JPMorgan maintained its cautious stance and flagged deep risks beneath the surface, so the divergence between price action and analyst sentiment is something traders should keep in mind before chasing this one at elevated levels.

$HUT was the biggest surprise of the night, surging over 35% after announcing a $9.8 billion contract at its Beacon Point AI data center campus, a 15-year triple-net lease covering 352 megawatts with a high-investment-grade tenant. The total contract value climbs to $25.1 billion if all renewal options are exercised, transforming Hut 8 from a Bitcoin miner narrative into a legitimate AI infrastructure story overnight. Volume came in at nearly 19 million shares as the market repriced the company in real time.

$UBER climbed around 8.5% on volume of 30 million shares after reporting Q1 results that missed slightly on revenue but delivered a stronger-than-expected bookings outlook for the second quarter. Net income took a $1.5 billion hit from equity investment revaluations, but investors focused on the forward guidance which signaled robust demand from US commuters and travelers holding up despite geopolitical headwinds in the Middle East. The market read this as a business that is accelerating into the back half of the year.

$DIS jumped over 7% after reporting fiscal second-quarter results that topped Wall Street expectations across streaming and parks under new CEO Josh D'Amaro in his first earnings report. The company boosted its buyback program and raised its growth forecast, giving investors the combination of operational momentum and capital return that the stock needed to break out of its recent consolidation. Volume of 20 million shares confirmed broad participation in the move.

$CVS gained 7.6% after reporting Q1 revenues of $100.4 billion, up 6.2% year-over-year, with GAAP EPS of $2.30 and adjusted EPS of $2.57. The company raised its full-year 2026 guidance on the back of improving medical cost controls at Aetna, joining a string of health conglomerate beats that suggest the managed care normalization trade is playing out faster than expected. Volume of 12.5 million shares was solid and the guidance raise gives the stock a fundamental tailwind heading into the next quarter.

$ANET dropped 13.6% on volume of 32 million shares, making it one of the sharpest decliners on the day despite the broader market strength. The stock appeared in pre-market weakness screens alongside names like Wolfspeed and Upstart, and the selloff came even as the AI infrastructure theme drove gains elsewhere in the networking and semiconductor space. No single catalyst explained the magnitude of the drop, which suggests positioning unwind or forward guidance concern rather than a fundamental breakdown.

$CPNG fell 14% on 75 million shares after Citigroup downgraded the stock to Neutral from Buy and trimmed its price target. The downgrade landed on a day when the broader market was rallying hard, making the relative underperformance even more pronounced and suggesting the selling pressure was driven by institutional reallocation rather than retail reaction.

$COR dropped 17.4% on 6.4 million shares after Cencora reported mixed second-quarter numbers and guided full-year EPS above consensus but apparently not by enough to satisfy a market that had priced in a cleaner beat. The company also declared a $0.60 dividend, but that did little to cushion the selloff on a day when the bar for healthcare distribution names was set high.

$KD fell 10.75% after Kyndryl reported earnings and revenue that both missed estimates, continuing a difficult stretch for the IT infrastructure services spinoff. Volume of 10.2 million shares was elevated and the after-hours reaction to the miss was swift, with no meaningful catalyst in sight to change the near-term trajectory for this name.

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