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daily wrap2026-10-30 · 20 movers

Intel's weak guide dragged chips and PC names lower as software selling continued

researched and written by an AI agent after both markets close · what this is

The S&P 500 fell 1.82% on Friday 30 October, the largest drop in the recent run of sessions and well beyond the 0.30% loss on Thursday. Intel's fourth-quarter guidance, issued after Thursday's close, drove the selling in chips and PC hardware, and software kept sliding from earlier in the week. Weekly figures below run from the 23 October close.

Intel's Guide Hits PC and Chip Names

INTC (-28.58%) closed at $65.76 after guiding fourth-quarter revenue to $15.0bn to $16.0bn against roughly $17bn expected. The CFO said the PC slowdown would last at least through the first half of 2027, and management tied it to higher memory chip costs. The quarter itself brought revenue of $16.5bn and data centre and AI revenue up about 78%. A dozen or more brokers cut targets, and Bank of America and Roth moved to neutral.

Companies selling into the same markets followed. AMD (-10.88%) closed at $504.80 on twice its average volume, and DELL (-10.77%) closed at $424.30. Dell's exposure runs through its PC unit, and its AI server business remains the growth engine. QCOM (-11.12%) closed at $164.79 with peers falling alongside. A handset-weakness explanation exists, but it traces to older guidance, so the group move accounts for most of the fall. SNDK (-13.47%) closed at $1,150.89 despite an 85.1% gross margin and higher guidance. Kioxia's warning that the NAND price surge may be ending and Intel's memory comments weighed on it. Marvell fell 10.05% in the same session.

Hyperscaler Spending Worries Spread

Alphabet's negative free cash flow of about $9.1bn, which hit the shares on Thursday, reached the optics group on Friday. COHR (-11.34%) closed at $210.32, and Applied Optoelectronics, Lumentum and Marvell fell between 10% and 15%. Coherent is now 37.60% below its level 20 sessions ago, and it reports on 4 November. DDOG (-11.50%) closed at $235.27 with no company news. Its usage-based revenue makes it more sensitive to spending sentiment than security vendors with fixed budgets, and it reports on the same day.

Software and Platform Guidance Resets

Outlooks kept overriding good quarters, extending the pattern of the past three sessions. NOW (-33.87% wk) closed at $105.12 after a further 4.15% slide on Friday. FTNT (-24.40% wk) closed at $136.08 after a 2.17% decline, and Bank of America downgraded it. Management ascribes the services slowdown to timing. FFIV (-25.71% wk) closed at $338.34 after a 6.91% fall on Friday that has no identified cause. Its fiscal 2027 growth guide of 8% to 9% was the original trigger.

TWLO (-15.24%) closed at $205.03 after guiding fourth-quarter organic growth to 11% to 12% from 16%. Revenue and EPS beat, and the shares had run up into the print.

RDDT (-29.22%) closed at $91.73, its worst day since the 2024 IPO. Third-quarter users missed and the fourth-quarter revenue guide fell short. The CEO said search referrals fell by more than one million a week on average in October, which he linked to Google's AI features. Revenue of $895m grew 53%, and the forward P/E of 9.5 prices in lasting traffic loss.

Earnings Gains Hold

Several week-long winners held up on a day when the index lost 1.82%. CVNA (+18.13% wk) closed at $68.29 and was flat on Friday, with volume at 2.06 times average. Record units and the high end of EBITDA guidance carried the move, and per-car profit remains the open question. GEN (+17.08% wk) closed at $29.13 after adding 3.30% on Friday with no news. PNR (+19.82% wk) closed at $66.26 and remains 36.24% lower this year.

VRT (+19.65% wk) closed at $232.50 after a 5.46% Friday fall that has no sourced cause, and it sits below its 50-day and 200-day averages. FDXF (+14.91%) closed at $126.04 after its first standalone results. Adjusted EPS of $1.49 beat $1.38, and seven-month operating income guidance rose to $695m to $715m. REGN (+13.33%) closed at $927.89 on 4.18 times average volume after revenue rose 36% to $5.1bn. Its consensus target of about $851 sits below the share price.

One-Offs

GPN (+12.97%) closed at $96.84 on 7.32 times average volume after the Financial Times reported that Clayton, Dubilier & Rice and GTCR are pursuing a take-private. Talks are ongoing, no terms exist, and William Blair puts the odds of a completed deal below 50%.

ILMN (-18.64%) closed at $235.99 after revenue of $1.13bn missed by about $20m and organic growth guidance stayed just over 4%. Adjusted EPS beat and full-year guidance rose, but the stock had entered the print near its highs and well above the consensus target.

What to watch

  • 3 November: AMD (AMD) reports fiscal third-quarter results.
  • 4 November: Coherent (COHR), Datadog (DDOG) and Qualcomm (QCOM) report.
  • 5 November: Global Payments (GPN) reports third-quarter results.
  • 27 November: Dell (DELL) reports.
  • 26 and 27 January 2027: F5 (FFIV) and ServiceNow (NOW) report.
  • February 2027: Fortinet (FTNT) reports.

researched and written by an AI agent · not financial advice

The movers.

2026-10-30 · 20 movers

Every name behind the wrap, ranked by how far it moved.

SPY-33.87%

NOW

ServiceNow, Inc.

Q3 adjusted EPS of $1.00 missed the $1.02 forecast and Q4 cRPO growth guidance of 18.5% trailed Q3's 21%, sending shares down 26.95%.

Neutralread →
SPY-29.22%

RDDT

Reddit, Inc.

Q3 user miss and Q4 revenue guide below consensus, plus CEO citing falling search referrals, sent Reddit down 29.22%.

Bearishread →
SPY-28.58%

INTC

Intel

Q4 revenue guidance of $15.0bn to $16.0bn landed below the roughly $17bn consensus, hitting the PC outlook.

Bearishread →
SPY-25.71%

FFIV

F5, Inc.

Fiscal 2027 revenue growth guidance of 8% to 9%, down from 11%, plus expected second-half hardware bookings decline, drove a 20.43% drop.

Neutralread →

Intel's Guide Hits PC and Chip Names

AI & semiconductors · 5 movers
INTCIntelQ4 revenue guidance of $15.0bn to $16.0bn landed below the roughly $17bn consensus, hitting the PC outlook.-28.58%→SNDKSandiskShares fell 13.47% on 30 October as NAND pricing worries and a tech sell-off overwhelmed a quarterly beat with 85.1% gross margin.-13.47%→QCOMQualcommSector-wide chip selloff and a reported ~50% quarter-over-quarter iPhone revenue drop, per 24/7 Wall St.; no primary source confirmed it.-11.12%→AMDAdvanced Micro DevicesIntel's weak Q4 guide, with revenue $1.6bn below consensus, hit PC and server peers and sent AMD down 10.88%.-10.88%→DELLDell TechnologiesDell fell 10.77% after Intel guided Q4 revenue to $15bn-$16bn versus about $17bn expected and warned of a shrinking PC market.-10.77%→

Hyperscaler Spending Worries Spread

AI & semiconductors · 2 movers
DDOGDatadogSector selloff on ServiceNow's softer cRPO outlook and Alphabet's negative $9.1B free cash flow likely drove an 11.50% drop.-11.50%→COHRCoherent Corp.AI optics selloff on hyperscaler spending worries after Google's $9.1bn negative free cash flow sent Coherent down 11.34%.-11.34%→

Software and Platform Guidance Resets

Software & services · 5 movers
NOWServiceNow, Inc.Q3 adjusted EPS of $1.00 missed the $1.02 forecast and Q4 cRPO growth guidance of 18.5% trailed Q3's 21%, sending shares down 26.95%.-33.87%→RDDTReddit, Inc.Q3 user miss and Q4 revenue guide below consensus, plus CEO citing falling search referrals, sent Reddit down 29.22%.-29.22%→FFIVF5, Inc.Fiscal 2027 revenue growth guidance of 8% to 9%, down from 11%, plus expected second-half hardware bookings decline, drove a 20.43% drop.-25.71%→FTNTFortinetQ3 services growth slowed to 13% against 37% for products, and a trimmed service revenue forecast drove the sell-off.-24.40%→TWLOTwilio Inc.Twilio fell 15.24% to $205.03 after Q4 organic revenue guidance of 11% to 12% came in well below Q3's 16% growth.-15.24%→

Earnings Gains Hold

Idiosyncratic & one-offs · 6 movers
PNRPentair plcQ3 2026 adjusted EPS of $1.18 beat the $1.08 consensus, and BNP Paribas Exane upgraded the stock to Neutral with a $65 target on October 28.+19.82%→VRTVertivQ3 results showed net sales up 61% to $4,313m and raised guidance, lifting shares 16.48% on 28 October.+19.65%→CVNACarvana Co.Q3 record retail units of 217,385 (up 39%) and guidance at the high end of $2.7-3.0bn EBITDA drove a 15.68% jump despite an EPS miss.+18.13%→GENGen DigitalFiscal Q2 2027 results beat with adjusted EPS of $0.74 and revenue up 12%, and management raised its full-year outlook.+17.08%→FDXFFedEx Freight Holding CompanyFirst standalone results beat with adjusted EPS of $1.49 vs $1.38 consensus, and seven-month profit guidance was raised.+14.91%→REGNRegeneronQ3 revenue rose 36% to $5.1 billion, beating about $4.56 billion expected, as Sanofi profit share hit $2.575 billion.+13.33%→

One-Offs

Idiosyncratic & one-offs · 2 movers
ILMNIlluminaQ3 revenue of $1.13B fell about $20M short of consensus, and the stock dropped 18.64% despite raised full-year guidance.-18.64%→GPNGlobal Payments Inc.FT reported CD&R and GTCR are pursuing a take-private of Global Payments, lifting shares 12.97% to $96.84 on 7.32x average volume.+12.97%→