Midday trading highlights tech divergence as FMC plunges and deal-driven stocks rise

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Midday trading tech divergence

Highlights

Nvidia falls nearly 2%, AMD and Marvell down over 3%, dragging VanEck Semiconductor ETF 2% lower for its eighth straight loss as tech hardware sells off.
FMC plunges 32% after slashing Q3 revenue guidance to $65 million–$125 million, far below $868.5 million consensus, citing weaker demand and high channel inventories.
Bending Spoons surges after Berkshire Hathaway's $330 million investment, while The RealReal jumps 11% on securing $175 million in new financing to refinance 2029 notes.

Sector rotation and major stock movers

As reported by CNBC, chipmakers are falling on Thursday and dragging the broader tech sector lower, with the VanEck Semiconductor ETF down 2% and on track for an eighth straight losing day. Nvidia is losing nearly 2%, while Advanced Micro Devices and Marvell Technology are each down more than 3%.

Software shares are outperforming within technology, with the iShares Expanded Tech-Software Sector ETF adding about 1%. Salesforce is gaining almost 4%, Adobe is rising more than 3%, and Oracle is up 2%.

Consumer staples are also moving higher as investors shift toward more defensive areas of the market. Campbell's is adding about 5%, while General Mills and Conagra Brands are each gaining more than 3%.

Among individual names, FMC is tumbling 32% after cutting its third-quarter guidance. The chemical company now expects revenue of $65 million to $125 million, far below the FactSet consensus estimate of $868.5 million, and CEO Pierre Brondeau says demand in the quarter is weaker than expected because of difficult market conditions and elevated inventories held by some channel customers.

Intuit is up 6% after announcing a deal to acquire Sequence, a revenue management platform. Kimberly-Clark is gaining about 4% after issuing preliminary third-quarter results that exceed Wall Street expectations, reporting adjusted earnings of $1.70 per share on $4.13 billion in revenue, versus FactSet estimates of $1.58 per share and $4.09 billion.

Deals, financing and outlook drive broader market impact

Berkshire Hathaway is edging up 0.4% and heading for an 11th consecutive winning session after Bending Spoons announces a $330 million investment from Berkshire. That follows Berkshire's $600 million investment in July, when Bending Spoons debuted on the Nasdaq.

The RealReal is jumping 11% after securing a $150 million term loan and a $25 million senior secured revolving credit facility. The company says it will use the proceeds to refinance its 2029 senior secured notes.

Marsh & McLennan is rising 5% after posting third-quarter earnings and revenue above expectations, with adjusted earnings of $2.03 per share on $6.86 billion in revenue. The results are also lifting the SPDR Insurance ETF by 1% on the day.

Artificial intelligence infrastructure names remain under pressure, with CoreWeave down 2% for a second straight day as investors worry about borrowing tied to AI expansion. Nebius Group, Iren, Dell Technologies and Everpure are also declining, while SK Hynix is slipping 2% amid similar concerns and after a 7.6% overnight drop in South Korea's Kospi index.

Rocket Lab is dropping 11% after delaying the launch of its Neutron rocket to 2027. Penske Automotive is surging 8% after agreeing to be taken private by Motown Acquisition Corp., backed by Penske Corp. and Mitsui, for $212 per share in cash, a nearly 9% premium to Wednesday's close, with the transaction expected to close in the first quarter of 2027.

Elsewhere, Walmart is up more than 2% after Deutsche Bank upgrades the retailer to buy from hold, citing a favorable 2027 outlook, while Crocs is gaining 6% after Barclays upgrades the stock to overweight from equal weight on product innovation, category expansion and international growth.

In our earlier coverage of Deutsche Bank’s upgrade of Walmart to a buy, we noted that persistent inflation is reinforcing the retailer’s value proposition and helping it gain market share with budget-conscious shoppers. We also highlighted the bank’s view that Walmart’s higher-margin businesses, automation, and digital initiatives—including its AI-powered shopping assistant Sparky—could support incremental margin improvement and further upside for the stock.

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