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Intel, Micron Tumble Amid Broad-Based Tech Sell-Off
Major technology and semiconductor stocks, including Intel Corp. (INTC) and Micron Technology Inc. (MU), experienced significant declines in Thursday trading, reflecting a broad-based sell-off in the sector. The downturn contributed to wider market weakness, with the tech-heavy Nasdaq Composite index trading notably lower.
Semiconductor Sector Under Pressure
The semiconductor industry faced significant headwinds, with several industry leaders posting steep losses. Intel shares were among the hardest hit, falling 6.97%.
Micron Technology saw its stock decline 6.32%. The drop occurred despite the company announcing the completion of new supply agreements with automotive partners, suggesting that broader market sentiment outweighed the positive company-specific news. Other related firms also fell, with Lam Research Corp. (LRCX) declining 5.66%.
The weakness extended to other mega-cap technology and financial names. Shares of Oracle Corp. (ORCL) fell 4.91%, while Goldman Sachs Group (GS) was down 5.12%.
M&A and Earnings Drive Small-Cap Gains
AdIn contrast to the large-cap weakness, several small-cap stocks surged on specific corporate developments. Manpower Inc. (MAN) was a standout performer, with its stock soaring 34.44% after the company reported an earnings beat and strong revenue growth.
Merger and acquisition activity also provided a major catalyst. ATAI Life Sciences BV (ATAI) shares jumped 32.56% following news that Eli Lilly plans to acquire its subsidiary AtaiBeckley for an upfront payment of $2.8 billion.
Other Notable Movers
Other company-specific events drove significant volatility. Bloom Energy Corp. (BE) saw its shares fall 14.07% following an announcement of a $1.7 billion investment in its fuel cells by IDF and Oaktree for Nebius AI.
In the public markets, Standard Nuclear (STDN) declined 9.67% in its market debut after the company priced its initial public offering at $15 per share.
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