Your Evening Briefing

February 27, 2026

Tech and financials weigh on stocks as credit risks rise

The S&P 500 and Nasdaq 100 were both down for the day, week, and month while the Russell 2000 was down on the day and week, but gained for the month as February trading came to a close.

Healthcare was today’s best-performing sector as crude oil rose on tensions with Iran. Financials and tech were the worst-performers as rising credit risks weighed on upstart growth companies. Hit particularly hard were neoclouds and data center companies like Nebius, IREN, Applied Digital, and Cipher Mining as well as quantum computing companies including IonQ, D-Wave Quantum, Rigetti Computing, and Infleqtion.

Bitcoin continued its downward trend and headed for its fifth consecutive losing month.

Stocks that moved higher:

Dell was the best-performing stock in the S&P 500 today as shares skyrocketed as analysts applauded its "exceptional beat+raise.”
Paramount Skydance was the benchmark index’s second-best performer after winning the war for Warner Bros. Discovery after Netflix declined to raise its bid. Paramount paid a $2.8 billion breakup fee to Netflix, whose shares also surged.
Block soared after cutting more than 4,000 jobs as part of its plans to "replace human labor with compute power.”
Power producer AES Corp. jumped after Bloomberg reported that BlackRock-owned Global Infrastructure Partners and equity firm EQT AB are close to acquiring the utility.
MARA Holdings spiked as the bitcoin miner plans to pivot to AI, partnering with the investment firm Starwood to convert sites into data centers.
Rocket Companies ticked higher on a Q4 earnings beat and strong Q1 2026 guidance.

Stocks that moved lower:

CoreWeave plummeted after its Q4 capex exceeded estimates and its 2026 investment budget was higher-than-anticipated .
Figure Technology Solutions sank on underwhelming Q4 results as analysts cut their price targets to $55 (from $62 and $71).
Zscaler dropped as its second-quarter net loss widened as spending rose.
Sweetgreen tumbled after weak Q4 results as its outlook for established restaurant sales is expected to contract by 2% to 4% this year.
Rocket Lab slumped despite an earnings beat after revealing the launch of its new, larger Neutron rocket is delayed.
FanDuel parent Flutter Entertainment dropped after its Q4 revenue and earnings missed estimates.
Duolingo plummeted after forecasting a sharp slowdown in bookings growth.
Grindr Inc. dropped despite reporting both an earnings and revenue beat after the bell yesterday.

Energy drink sales are soaring — but Red Bull’s still fly the highest

The Wiiings seller’s rivals reported record sales this week, but none come close to the biggest name in the game. Read more.

McDonald’s pivoted to value and won. Now it's taking a big, beefy gamble on the Big Arch

The fast food giant’s biggest-ever burger has a premium price tag in a value-driven time. Can it deliver a big bump in sales or will it be a repeat of McDonald’s most famous flop?

Read more.

OpenAI secures blockbuster $110 billion funding round valuing company at $730 billion
This investment includes $50 billion from Amazon, $30 billion from SoftBank, and $30 billion from Nvidia.
Meta reportedly strikes multibillion-dollar AI chip deal with Google as it struggles to design its own
Google is aggressively moving into Nvidia’s territory by leasing and selling training chips.
Urban Outfitters might have worked out how to sell clothes to young people again
The brand notched four consecutive quarters of sales growth for the first time since 2021.
Archer teams up with Starlink to bring internet access to its Midnight air taxi
The announcement marks an “industry-first collaboration,” says Archer.
Delays in permitting, power, and zoning cause first drop in data center construction since 2020
Community engagement is another factor that led to the decline, despite strong demand.
Rolls-Royce’s profits surge to record highs as AI and jet demand power turnaround
Operating profit jumped 40% in 2025, driven by civil aerospace, defense spending, and the data center boom.
More US teens are using AI for studying. Not all of them feel great about it.
A new survey finds over half of Americans aged 13 to 17 use AI chatbots to help with school.

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