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Microsoft shares were under pressure midday Tuesday after Anthropic unveiled a slew of tools that rival the Washington-based giant's Office suite. The move by Anthropic comes after the Claude AI parent released an amended regulatory filing in the lead-up to its big initial public offering.
Nvidia shares also slumped on the day., alongside On Holding.
Follow below as CNBC breaks down the biggest stock market moves of the day:
Microsoft shares dropped 3% in a sudden move after Anthropic announced a slate of new workplace tools for Claude that could compete with Office.
Anthropic introduced Claude Sheets, Claude Whiteboards and Claude Data in a blog post.
"Starting today, Claude can build spreadsheets, whiteboards, and dashboards with your team," the post said.
Shares of On Holding fell 8% as investors looked beyond a one-time tariff refund of 52.6 million Swiss francs and focused on a direct-to-consumer sales miss.
Adjusted earnings rose from a year earlier and topped the FactSet consensus estimate. Net income increased 36.9% to 162.8 million Swiss francs.
Net sales at the Swiss sportswear and athletic-footwear company rose 17.2% to 931.4 million Swiss francs, slightly above the FactSet consensus estimate of 930.3 million Swiss francs.
Broken down by segments, direct-to-consumer generated revenue of 393.3 million Swiss francs, falling short of the StreetAccount estimate for 417.7 million Swiss francs.
The company reported a gross margin of 72.6%, or 66.9% excluding the tariff refund.
Shares of the chip giant tumbled more than 6% on the day, touching $166.52 a share in midday trading.
Nvidia has been skidding to start the week as traders assess the fallout from CEO Jensen Huang's extramarital affair with an alleged Chinese spy.
Shares of Trump Media & Technology Group climbed 7% after the company reported a profitable third quarter and a surge in revenue over the period.
The company posted net income of $409.7 million in the third quarter, which includes gains on digital assets, up from the year-ago loss of $54.8 million. Revenue came in at $3 million, up more than 200% from the year-ago period.
Companies tied to home construction tumbled after October's consumer inflation report came in hot and market expectations for a December rate hike climbed.
Fed funds futures now suggests a 100% likelihood of a rate increase in December. Such a move would influence the bond market and in turn rates on mortgages.
The iShares U.S. Home Construction ETF (ITB) fell more than 3%.
Homebuilders Lennar and D.R. Horton lost 5% and 4%, respectively, while Floor & Decor Holdings slid 3%.
Carlyle Group fell 1% after UBS downgraded the stock to neutral from buy, cutting its price target to $47 from its prior target of $60.
Analyst Michael Brown sees the risk/reward as balanced, noting that Carlyle's newer growth businesses are not yet large enough to offset its dependence on flagship fundraising. Carlyle is increasingly likely to miss its 2028 earnings, according to the analyst.
"We lowered our fee-related earnings multiple to 8 times and price-to-earnings multiple to 8 times in our 50/50 blended SoTP framework," Brown said. "This reflects an estimated 10.7% three-year CAGR in fee-related earnings from 2025 to 2028, reduced visibility into when flagship funds will begin generating fees and a less diversified growth strategy than faster-growing peers."
Data center power producer GE Vernova is sliding in Tuesday morning trading following revisions from SoftBank on its power equipment procurement strategy. Shares of GEV are down close to 7% as of 10:35 a.m. ET.
Share of Steel Dynamics were up 4% after the company announced an additional $3 billion authorization for share repurchases. The authorization is effective immediately and is additive to the previous $1.5 billion program, which had $216 million remaining authorized and available for repurchase on Sept. 30, 2026.
The company's board of directors also declared a quarterly cash dividend of 53 cents per common share. The dividend is payable to shareholders of record at the close of business on Dec. 31, and is payable on or about Jan. 8, 2027.
"These actions reflect the Board's and senior leadership's continued confidence in our ability to consistently provide meaningful, industry-leading free cash flow generation throughout all market environments, in order to both continue our strong growth strategy and provide significant shareholder returns," stated Mark D. Millett, Chairman and Chief Executive Officer.
Chipmaker Nvidia is sagging for the second day in a row after CEO Jensen Huang issued an apology in the wake of a report that he was the target of a potential Chinese spying operation. Shares of the company were down 4% as of 9:45 a.m. in Tuesday trading. On Monday, shares also dropped 4%. Shares are down 25% over the past month amid broader struggles in the tech trade.
Shares of American Airlines were flat, outperforming the broader market after Rothschild upgraded the airline to buy from neutral.
The firm cited American's improved network, investments in key hubs and potential for stronger margins and free cash flow. Resilient travel demand, disciplined industry capacity and a growing premium-seat mix should also support higher fares.
"We have found it increasingly difficult to justify a Neutral rating on American," analyst Gavin Tennant wrote in a Tuesday note. "Its reestablished network and investments in key hubs, coupled with a high-fare growth environment, provide room to expand revenues, return to delivering the balance sheet and generate sustainable margin expansion in outer years."
Casella Waste Systems fell more than 5% after its quarterly results fell short of expectations.
Quarterly earnings for the company totaled 35 cents per share, excluding certain items, below a FactSet forecast of 42 cents per share. Revenue of $559.2 million was also less than expected at $563.2 million.
Solid waste pricing for the quarter was up 5.5% from the same period in 2025, driven by 5.9% collection price growth and 4.8% disposal price growth.
The vertically integrated solid waste services company attributed the underperformance partly to weaker results in the Mid-Atlantic region.
Shares of Aaon moved higher after the HVAC solutions provider reported stronger-than-expected results and raised its full-year outlook.
The company posted net sales for the third quarter of 2026 increased 84.1% to a record $707.4 million, compared with a $601.2 million estimate from FactSet. Aaon also earned an adjusted 83 cents per share, beating a FactSet forecast of 57 cents per share.
Growth was driven by strong demand for both the AAON and BASX brands, increased manufacturing throughput, and greater utilization of recently expanded production capacity.
"Our third quarter results reflect strong execution and continued progress turning the investments we have made into stronger operating performance," said Matt Tobolski, President and CEO of The Aaon Group. "We delivered record net sales, more than doubled operating income and diluted EPS, improved gross margin 60 basis points sequentially, generated strong cash flow and raised full-year outlook. The improvement was broad-based, with both AAON and BASX delivering strong growth.
Shares of Qualys fell nearly 7% even after the cybersecurity company reported third-quarter results that topped analyst expectations.
The company earned an adjusted $2.12 per share on revenue of $188 million. Analysts expected a profit of $1.96 per share on revenue of $186.6 million.
Management expects revenues for the full year of 2026 to be in the range of $736.9 million to $738.9 million, representing 10% growth over 2025. That's also up from prior 2026 guidance the company had issued.
Skydance shares fell more than 2% after the entertainment conglomerate formed from Paramount and Warner Bros. Discovery said that it plans to cut $6 billion in costs over the next three years. The company said it would cut its marketing spend and consolidate its streaming and broadcast operations.
Paramount Skydance, the predecessor company of Skydance, also reported third-quarter revenue that fell short of expectations. Revenue in the period came in at $7.03 billion, while analysts polled by StreetAccount sought $7.04 billion.
Shares of Rocket Lab were fell nearly 6% after the aerospace manufacturer reported adjusted EBITDA loss of $18 million for the third quarter.
Rocket Lab has pushed Neutron's inaugural flight into 2027 following manufacturing and testing challenges involving the vehicle's first-stage composite structures.
The company reported quarterly revenue of $268 million, a 73% increase year-on-year and a record backlog of approximately $3.6 billion, a 52% increase since end of Q2 2026. Positive GAAP operating cash flow for the company was $7.2 million. Approximately $1 billion in new launch contracts have been signed across Electron, HASTE, and Neutron, bringing Rocket Lab's total launch backlog to 117 launches: a new record.
The company said it secured more than $515 million of Neutron launch contracts during the quarter, increasing the rocket's backlog to 16 missions before its debut.
Shares of Taiwan Semiconductor Manufacturing Co. were up marginally after the world's largest contract chipmaker reported strong October sales. Revenue reached approximately $17.88 billion, rising 59.7% from a year earlier and 14.7% from September.
The world's largest contract chipmaker benefited from strong demand for advanced semiconductors, as major technology companies continue to invest heavily in AI.
The chipmaker expects capital expenditure from 2026 to 2028 to be significantly higher than in the previous three years as it continues to invest to support customer demand. Its third-quarter operating margin reached 58.7%, exceeding the upper end of its guidance range.
Shares of Riot Platforms were up nearly 2% after a Jefferies upgraded to buy from hold.
Jefferies highlighted Riot's Corsicana-powered land lease, which it estimates will generate an average yield of roughly 33%. Jefferies estimates capital expenditure of approximately $6 million per megawatt of IT capacity, compared with $11 million to $15 million for a typical data-center build.
Corsicana alone could be worth approximately $16 per Riot share, according to analysts.
Sanmina soared 19% after the electronic manufacturing services provider rolled out an outlook that came in ahead of the Street's expectations.
The company sees full-year earnings in a range of $15.50 to $17.50 per share, topping the FactSet consensus estimate of $14.07 a share. The company's revenue forecast of $17.5 billion to $19.5 billion also came in ahead of the $16.61 billion consensus estimate.
Take-Two Interactive Software traded 4% higher after its fiscal second-quarter earnings and revenue beat analyst expectations. Adjusted earnings per share came in at $1 on revenue of $1.60 billion. Analysts polled by LSEG expected a profit of 94 cents per share on revenue of $1.58 billion.
Shares of Hims & Hers Health fell 2% after the company issued weaker-than-expected guidance for the fourth quarter.
The company expects revenue in a range of $875 million to $895 million, well below a FactSet consensus of $953.8 million. Adjusted EBITDA guidance ranges between $70 million and $90 million, also below an estimate of $105.8 million.
Tokenization platform Securitize climbed about 10% after reporting third quarter growth alongside increased operating expenses, and announcing an expansion into asset-backed finance through a strategic acquisition.
Miami-based Securitize, which made its public market debut in July, operates in the relatively new corner of the crypto equity universe involved in institutional tokenization infrastructure. Tokenized assets on the platform grew 9% in the third quarter, to $4.8 billion, from the same period a year ago. Aggregate transaction volume rose 20% from a year ago, to $4.3 billion. Revenue of $11.5 million was up 28% from last year.
Also on Monday, the Securitize board authorized a $50 million share buyback and announced the acquisition of River One, an institutional asset-backed financing platform developing technology to connect stablecoin capital with traditional lending markets. Terms were not disclosed.
Read the full story and watch our exclusive interview with Securitize CEO Carlos Domingo here.