Thursday’s market action saw a mixed performance across major indices. The S&P 500 (ES) and Nasdaq 100 (NQ) both dipped by 0.2%, while the Russell 2000 (RTY) remained flat. Investors navigated earnings results, regulatory headwinds, and shifting stakes in key tech stocks.

Nvidia Reshuffles Its Portfolio

Nvidia made notable changes to its investment holdings:

• Exited positions: Sold off its stake in SERV (-30%) and SOUN (-12%)
• Trimmed holdings: Reduced its stake in ARM (-1%)
• New investments: Initiated positions in NBIS (+6%) and WRD (+106%)

Earnings Movers: Winners and Losers

Under Pressure

• Applied Materials (AMAT) -5%: The semiconductor equipment giant issued weaker-than-expected revenue guidance for next quarter, citing tighter U.S. export restrictions on chipmaking technology. Sales in its largest market, China, also declined.
• Palo Alto Networks (PANW) -5%: Investors reacted negatively to a light full-year profit outlook.
• Twilio (TWLO) -9%: The cloud communications company missed earnings expectations and provided a disappointing outlook for the next quarter.
• Moderna (MRNA) -4%: The biotech firm reported an earnings miss and a weaker-than-expected full-year revenue forecast.
• Bristol-Myers Squibb (BMY) -0.5%: A setback in its Phase 3 Relativity-098 trial, which failed to meet its primary endpoint, weighed on shares.

Standout Performers

• Roku (ROKU) +16%: The streaming platform crushed expectations, driven by strong subscriber growth and robust advertising revenue.
• Airbnb (ABNB) +13%: The company posted earnings and revenue beats but warned of slower Q1 growth due to foreign exchange headwinds and Easter’s timing shift.
• DraftKings (DKNG) +5.5%: The sports betting company delivered a profit beat and raised its full-year revenue guidance.

Other Notable Moves

• Meta (META) -0.3%: The social media giant raised its quarterly dividend by 5%.

Regulatory and Tech Updates

In a significant policy shift, Apple (AAPL) and Google (GOOGL) will restore TikTok to their app stores on February 14th, a move that could reignite discussions around data privacy and national security concerns.

With earnings season in full swing and regulatory changes shaking up the tech landscape, investors are bracing for more volatility in the weeks ahead. Stay tuned for further updates as the market digests these developments.