Anfernee Simons #2 of the Chicago Bulls dribbles during the second half of their NBA game against the Toronto Raptors at Scotiabank Arena on February 5, 2026 in Toronto, Ontario, Canada.

(Cole Burston/Getty Images)

Stocks bounce back powered by tech rebound

Tech rose amid AMD and Meta’s chip deal, and software stocks recovered as investors shook off yesterday’s dystopian AI report.

Tasha Matsumoto

The S&P 500, Nasdaq 100, and Russell 2000 each rose as stocks bounced back amid abating AI anxiety.

Today’s rally lifted shares in all sectors except for energy and healthcare. Consumer discretionary was the best-performing sector, lifted by gains in Amazon and Tesla, followed by industrials, then tech. Alphabet was the only Magnificent 7 stock to close in the red.

Bitcoin stabilized after falling below $63,000 early this morning, a 50% drop from its October 6 all-time high.

Stocks that moved higher:

Advanced Micro Devices soared as it struck an AI infrastructure deal with Meta valued at over $100 billion.
Beleaguered business software stocks IBM (which suffered its biggest one-day drop since 2000 yesterday), Salesforce, ServiceNow, and Oracle bounced up as Anthropic announced a series of new plug-ins tying Claude Cowork into third-party platforms like Salesforce’s Slack, Google’s apps, LegalZoom, and DocuSign, among others.
Taiwan Semiconductor hit a new all-time high as Apple plans to purchase “well over 100 million” chips from TSMC’s Arizona facility this year.
Nuclear power plant operator Constellation Energy rose after reporting better-than-expected earnings and revenue this morning. The company declined to give full-year 2026 guidance until a call slated for the end of March.
Keysight Technologies skyrocketed after raising its outlook on strong AI demand.
Despite announcing disappointing Q4 results after the bell yesterday, Cipher Mining soared.
Klaviyo jumped on news of a partnership with Google aimed at autonomous customer experiences.

Stocks that moved lower:

Sandisk fell as Citron Research, short seller Andrew Left’s firm, announced it was short the stock. The shares fell further after a product release failed to live up to the hype.
Budget carriers Frontier Airlines and JetBlue dipped as Spirit Airlines reached a deal with lenders to emerge from its second bankruptcy.
Hims & Hers ticked lower after issuing soft full-year guidance and disclosing after the bell yesterday that it is under investigation by the SEC.

Max Knoblauch1h

Lucid reports Q4 earnings miss, revenue beat

Luxury EV maker Lucid reported its fourth-quarter earnings after the bell Tuesday. Shares fell more than 6% in after-hours trading.

The company posted an adjusted loss of $3.08 per share, wider than the $2.63 loss expected by analysts polled by FactSet. Lucid booked $522.7 million in revenue, beating the consensus estimate of $459.5 million.

Lucid issued a full-year 2026 production outlook of between 25,000 to 27,000 vehicles, representing 40% to 51% growth from 2025’s figures. Lucid downwardly revised its full-year 2025 production numbers from 18,378 to 17,840 vehicles due to internal validation issues.

The company maintained the timeline of its unnamed midsize SUV due to begin production later this year. That schedule puts it close to rival Rivian’s planned second-quarter release of its R2 SUV.

Lucid did not issue an update to its ongoing CEO search. The company has been led by interim CEO Marc Winterhoff for the past year, after it abruptly announced in its fourth-quarter 2024 report that then CEO Peter Rawlinson would step aside.

The stock has fallen to all-time lows this month and is down 98% from its high in 2021. Last week, the company announced it would lay off 12% of its US workforce in an effort to improve profitability.

Matt Phillips1h

Tempus AI slides after missing Q4 EBITDA target

Cancer diagnostics company and sometimes retail shareholder favorite Tempus AI reported soft Q4 adjusted EBITDA numbers late Tuesday, sending shares lower in the after-hours session.

It reported:

Q4 revenue of $367.2 million vs. FactSet’s expectation of $362.8 million.
An adjusted loss per share of $0.04 vs. the $0.04 loss estimated.
Adjusted EBITDA of $12.9 million vs. expectations for $22 million, per FactSet.

Since going public in June 2024, Tempus has been a volatile stock that has both doubled — and cratered — on multiple occasions. That spectacle has at times captured the attention of retail traders who’ve tried to ride the waves.

Of late, the wave has been breaking bad, with shares down more than 30% since the stock hit a record high on October 8, 2025

Still, the company is now adjusted EBITDA positive. That, CEO Eric Lefkofsky told us last year, is the first milestone on Tempus’ journey to profitability, a mark that analysts think will take until at least next year for the company to hit.

Matt Phillips3h

Sandisk sinks more as product release underwhelms market

Sandisk’s online event marking its one-year anniversary since being spun off from Western Digital seems to be something of a damp squib.

You have to announce something big to live up to the hype. This is nothing.
— JP Gola (@jpgola) February 24, 2026

The shares, already down a fair bit following the Citron Research short announcement, fell further after the company announced an upgrade to its consumer solid state memory drives alongside a YouTube-based presentation aimed at highlighting all the things one might do with, well, access to additional digital storage.

The stock — which is still up more than 150% in 2026 — was down more than 7% shortly after the company’s post at 2 p.m. ET. That was in stark contrast to the bump software stocks were riding following Anthropic’s product announcement earlier on Tuesday.

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Matt Phillips

Matt Phillips7h

Sandisk slides on Citron short announcement

Sandisk’s roughly 1,200% run-up over the last year — it was spun off from Western Digital exactly a year ago — took a breather early Tuesday, after well-known stuff-stirrer Citron Research, short seller Andrew Left’s firm, announced it was short the stock.

In a post on X, Citron suggested that while Sandisk has benefited from the parabolic price increase for memory chips, it’s only a matter of time before giant contract chip manufacturers like Samsung Electronics and TSMC turn on the taps:

“The market is pricing SanDisk like it’s $NVDA. There’s one problem: NVIDIA has a moat. SanDisk sells a commodity. We’ve seen this movie before 2008, 2012, 2018. It’s never different this time. Memory is a cycle, and cycles peak.”

That’s true historically speaking, but Wall Street seems to see the memory price spike continuing for at least a couple more years. Analysts have ratcheted up their earnings expectations over the next few years, in line with the guidance Sandisk issued in its latest earnings report. And shorting a stock with this much momentum — it’s up more than 150% this year alone! — is treacherous indeed.

Citron Research on X: "Citron is Short $SNDK — They Don't Ring a Bell at the Top We don't need Anthropic to announce they're making NAND. Samsung is already the 800-pound gorilla...