End-of-day recap

November 5 paired a broad stock selloff with AppLovin's earnings rally. Investors reassessed AI data-center plans as the main indexes fell.

Nvidia closed at $181.60, down 9.26%, on 300.37M shares, with a $4.38T market cap. Yahoo Finance linked the drop to investor fears planned AI spending may stall as data-center projects face delays and tougher rules after the midterm elections.

The S&P 500 fell 4.33% to 7,355.84; the Nasdaq fell 5.52% to 24,315.00. The Dow fell 3.44%, the Russell 2000 fell 4.45%, and the VIX rose 69.66%. Reuters linked the rout to reassessed AI construction after Democratic election wins.

APP closed at $356.10, up 31.04%. Third-quarter EPS of $4.30 beat $4.07 expected, and revenue rose 55% to $2.19B. Benzinga linked the rally to those results and fourth-quarter revenue guidance above consensus; the board added $3.20B to its repurchase authorization.

SNDK closed at $806.43, down 22.26%, on 29.36M shares. Benzinga linked the fall to investors cutting AI-linked memory and semiconductor exposure amid concern election results could impede data-center construction. Sandisk supplies flash storage; its market cap was $114.75B.

The 2-year Treasury yield was 4.46%; the 10-year was 4.84% and the 30-year was 5.25%. Reuters said the stock rout pushed the fully priced timing of the next Fed hike to March. October jobs figures are due November 6.

ARM drew two November 5 target cuts. RBC Capital's Srini Pajjuri set $300, with shares at $165.07 when posted. Piper Sandler's David O'Connor set $270, with shares at $164.74 when posted. The quoted prices are intraday publication references.

MTSI drew three November 5 target cuts: Stifel's Tore Svanberg to $360, Needham's Quinn Bolton to $300, and Susquehanna's Christopher Rolland to $220. Shares were $197.43, $198.37, and $197.96 at the respective publication times. MACOM Technology Solutions had a $14.54B market cap.

Raymond James raised Unity Software's target to $60 and Planet Fitness's to $72 on November 5. Analysts Andrew Marok and Joseph Altobello issued the respective changes. U shares were $49.01 when posted; PLNT shares were $60.07 when posted.

BXMT director and CEO Timothy Steven Johnson bought 90K shares on November 4, 2026. A Form 4 filed November 5 reported the cash purchase at $11.50 per share, worth $1.04M in displayed total value. BXMT had a $1.90B market cap.

NVDA led listed options volume at 5.34M contracts, followed by TSLA 2.32M, MU 2.00M, SPCX 1.63M, INTC 1.51M, AAPL 1.48M, AMD 0.98M, AMZN 0.95M, IREN 0.76M, and PFE 0.72M. Nvidia's put/call volume ratio was 1.07.

The session closed with NVDA down 9.26% and APP up 31.04%.

Not financial advice. For informational and educational purposes only.