Major U.S. stocks diverged sharply on Thursday, with mega-cap names posting mixed results as Walmart and Moderna led declines, while Marvell Technology and Coinbase Global advanced.
Walmart fell 9.05% to lead the mega-cap decliners, followed by CrowdStrike Holdings at -4.94% and GE Vernova at -4.14%. Tesla declined 2.46%, while Marvell Technology was the exception, rising 3.23%.
Among large-caps, Moderna slumped 23.53%, the steepest drop in the group. Innio Holding and Fortress Transport Infrastructure also declined, while Tempus AI surged 9.2% and Coinbase Global gained 7.51%. Moderna’s decline followed broader biotech weakness, though Morgan Stanley separately upgraded Merck’s stock rating on pipeline strength.
Mid-cap movers included Ethereum-linked ETHA, which rose 11.11%, and Marathon Digital, up 12.63%. AeroVironment and Karman Holdings were notable decliners, down 8.75% and 8.36%, respectively.
Small-caps saw more pronounced volatility. Golden Bull led gains with a 16.07% rally, while ScanSource surged 13.53% on a quarterly earnings beat and its acquisition of MicroAge. Maravai LifeSciences Holdings advanced 11.96%, but LSI Industries fell 14.21% despite beating revenue and earnings estimates. Wolfspeed dropped 13.2% after reporting a wider-than-expected fourth-quarter loss and revenue miss.
The mixed performance reflected sector-specific catalysts and broader market uncertainty, with no single theme dominating the day’s moves.
