SanDisk, Marvell among market cap stock movers on Tuesday

On Tuesday, significant declines were observed across various stock categories in the market. Notably, mega-cap stocks such as SanDisk and Marvell experienced a substantial drop, with SanDisk Corp (SNDK) falling by 9.82% and Marvell Technology Group Ltd (MRVL) decreasing by 9.31%. Additionally, Intel Corp (INTC) saw a 7.5% decline.

On the flip side, some large-cap companies also faced steep declines. Fabrinet (FN) topped its Q4 estimates, but its shares dropped over 5%, closing at a loss of 21.37%. Similarly, Cerebras Systems Inc (CBRS) saw an 14.32% decrease. Other significant movers included Semtech Corp (SMTC) down by 13.24%, FormFactor (FORM) declining by 12.59%, and 21Vianet Group (VNET) which fell 6% due to a miss in Q2 earnings and weak guidance.

Aehr Test Systems (AEHR) and MaxLinear Inc (MXL) also saw declines of 16.47% and 14.9% respectively. However, Flexsteel Industries (FLXS) had a notable gain, surging 11% on better-than-expected Q4 results and a projected 20.19% growth in guidance. MVLL (MVLL) and MULL (MULL) both saw a 18.43% and 15.99% drop respectively. INTW (INTW) and IMC Rare Earths (IMC) also experienced declines of 14.74% and 11.06% respectively.