Some days the market feels like a tug of war, and today the rope snapped in a few surprisingly interesting places. Money ran from the crowd favorites toward calmer corners of the market, and a few household names had a rough and noisy shift.

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Investors sprinted away from tech and into almost everything else, and the bond market was the happy landing spot. Even long-battered homebuilders caught a welcome bid.

The 10-year Treasury yield slid below 5% for the first time in nearly a month, its sharpest one-day drop in over three years. Chipmakers took the brunt, with the main semiconductor index sinking more than 6% as Nvidia and Intel sold off.

Meta added to the jitters by promising billions more in AI spending and a new class of nonvoting stock to help pay for it, sending shares down about 7%.

Moderna tumbled after details of its melanoma vaccine study leaked on social media. Brent crude hovered near $113 after fresh strikes on Saudi Arabia.

Spotify expects to add approximately 10 million premium subscribers in the fourth quarter, taking its paying audience to 316 million, as personalized listening features support growth and the company forecasts €820 million in operating profit.

Comcast expects more than $1 billion in fourth-quarter restructuring charges as it redesigns its business amid broadband subscriber losses, while Peacock’s revenue rose 34% to $1.82 billion, strengthening its streaming operation.

PepsiCo renewed its U.S. beverage partnership with Taco Bell through 2036, covering participating restaurants, Cantina locations and Live Más Cafes, with plans to expand crafted, functional and energy beverages alongside established Mountain Dew offerings.

Procter & Gamble raised its expected annual cost headwind to $1.4 billion from $1 billion, as higher commodity, energy and freight expenses pressure profitability, although stronger beauty and home-care demand helped quarterly sales exceed expectations.

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Devon Energy faces activist pressure to sell another $10 billion of noncore assets or consider selling the company, with Kimmeridge calling its recent Eagle Ford divestment insufficient following the producer’s acquisition of Coterra.

ExxonMobil and Shell’s jointly owned chemicals business Infineum is reportedly exploring an $8 billion sale, with Bank of America advising on the potential transaction, as discussions remain preliminary and no sale has been agreed.

Korro Bio [KRRO] $12.05 (+29.71%)

Korro Bio, the RNA editing outfit that took a brutal beating last year, staged a big rebound.

The company announced preclinical results for KRRO-111, an investigational treatment for alpha-1 antitrypsin deficiency, according to a press release statement issued today. It also looks like traders are wading back into a bruised biotech, one cautious toe at a time.

Tucows [TCX] $11.91 (+25.50%)

Tucows agreed to hand off its dark fiber lease in Colorado Springs, with the deal expected to close by the end of March 2027.

The move fits its ongoing strategic process for Ting, and investors cheered like a landlord who finally found a taker. Less fiber to fund, more room to breathe. Customers keep service through the transition.

Biohaven [BHVN] $14.69 (+25.02%)

Biohaven just got a second shot at the finish line. The FDA accepted its resubmitted application for troriluzole, a rare ataxia drug, with a decision date set for early 2027 and an advisory committee meeting on the way.

After last November’s rejection letter, shareholders are treating this as a comeback storyline. Whether it ends in applause is a 2027 problem.

Avalo Therapeutics [AVTX] $7.45 (-39.23%)

Avalo got hit by friendly fire. AbbVie’s rival skin drug posted an underwhelming result in hidradenitis suppurativa, a chronic skin condition, and investors wondered if Avalo’s own antibody, abdakibart, might stumble the same way.

One analyst argued Avalo’s approach looks sturdier. Wall Street chose to sell first and ask for proof later, as it so often does.

NVE Corporation [NVEC] $68.36 (-33.68%)

NVE reported a quarter where revenue slid 8% from last year, and a stock priced for smooth sailing did not take it well.

The spintronics chipmaker still grew sales by roughly a third over the first six months and kept its dividend at $1.00 a share. Still, one soft quarter made investors forget the bigger picture.

TTM Technologies [TTMI] $73.89 (-27.67%)

TTM Technologies did everything but get a standing ovation. Third quarter sales jumped 60% to a record $1.2 billion and the company also raised its full-year outlook.

The stock tanked anyway because the fourth quarter revenue midpoint landed a hair below expectations. When a stock is priced for perfection, even a hair is a haircut.

Layoffs and belt-tightening usually register in share prices well ahead of the evening news.

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