Intel Corp. (NASDAQ: INTC) tumbled 6.82% to $120.61, leading a broad chip-sector pullback after a hotter-than-expected April CPI print sent the iShares Semiconductor ETF (SOXX) down 3.15%. The S&P 500 closed 0.16% lower at 7,400.96 and the Nasdaq Composite gave back 0.71% to 26,088.20 as the 3.8% headline inflation read versus a 3.7% consensus pushed rate-cut expectations later in the year.
Today's biggest movers
| Ticker | Close | Day | 1mo | YTD |
|---|---|---|---|---|
| $MDB | $308.72 | +4.78% | +32.16% | -22.75% |
| $PANW | $215.60 | +0.91% | +33.42% | +20.20% |
| $CRWD | $546.18 | +0.72% | +37.06% | +20.42% |
| $META | $603.00 | +0.69% | -8.98% | -7.29% |
| $NVDA | $220.78 | +0.61% | +12.35% | +16.91% |
| $INTC | $120.61 | -6.82% | +89.01% | +206.27% |
| $BIDU | $139.94 | -4.01% | +18.36% | -6.89% |
| $ORCL | $186.83 | -3.62% | +14.62% | -4.54% |
| $NET | $186.79 | -3.48% | +4.56% | -4.71% |
| $CRM | $171.31 | -3.48% | +0.00% | -32.45% |
Intel falls 6.82% on valuation reset after multi-month run
Intel led the decliners with a 6.82% drop to $120.61, taking back a single session of a months-long run that still leaves the stock up 89.01% over the past month and 206.27% year to date. The slide came a day after RBC Capital reiterated its Sector Perform rating with an $80 price target, well below the current quote, and after multiple desks flagged stretched valuation following CEO Lip-Bu Tan's NVIDIA Corp. (NASDAQ: NVDA) collaboration announcement and a preliminary chip-production deal with Apple. According to Marketbeat, the consensus 12-month median price target across 34 analysts sits at $65, with a high of $124 and a low of $25. Q1 2026 results, reported in April, beat with 29 cents in adjusted EPS versus a 1-cent consensus and $13.58 billion in revenue against $12.42 billion expected, per CNBC. Today's session traded a $115.00 to $129.76 range, on volume of 171 million shares.
MongoDB rallies 4.78% on AI agent platform launch and Citi upgrade
MongoDB Inc. (NASDAQ: MDB) was the day's standout gainer, rising 4.78% to $308.72 after launching a new tranche of AI data-platform capabilities last Thursday aimed at production AI agents: automated embeddings, persistent agent memory, enhanced database performance, and cross-region private connectivity, per the company's investor relations release. Citi raised its price target on the stock to $450 earlier this month, citing AI-driven demand for the Atlas cloud database. The rally narrows MongoDB's year-to-date decline to 22.75% ahead of first-quarter fiscal 2027 earnings, due after the close on May 28. The company has guided $659 to $664 million in revenue (20% to 21% year-over-year growth), $105 to $109 million in non-GAAP operating income, and $1.15 to $1.19 in non-GAAP EPS.
Baidu drops 4.01% on China-AI overhang before Trump visit
Baidu Inc. (NASDAQ: BIDU) fell 4.01% to $139.94, the second-largest decliner in the cohort, as investors trimmed China-exposed AI names ahead of President Trump's scheduled visit to Beijing later this week. The trip, his first in nearly nine years, comes against a backdrop of unresolved tariff policy after a Court of International Trade ruling last week threatened to invalidate the administration's 10% global tariff, per the Washington Post. Baidu reports first-quarter 2026 results on May 18, with consensus expecting $1.69 in EPS. Separately, the company is pursuing a $14.7 billion IPO for its chip unit, per Yahoo Finance reporting.
Oracle slides 3.62% as cloud names track software sell-off
Oracle Corp. (NYSE: ORCL) shed 3.62% to $186.83, the largest single-day drop in the cloud-platform cohort, even as the stock holds a 14.62% one-month gain. No company-specific catalyst, the decline tracked the broader software sell-off as the April CPI print at 3.8% versus 3.7% expected pushed rate-cut expectations later and dragged duration-sensitive multiples. Oracle remains down 4.54% year to date.