Cloudflare (down 12%), Fastly (down 12.3%), Oracle (down 5.3%), JFrog (down 8.8%) and Okta (down 7.9%) fell in the afternoon session after underwhelming earnings from Amazon and Intel, which followed mediocre reports from Alphabet and ServiceNow. Investors worried about heavy AI spending and sustained cash burn, and questioned when large AI infrastructure investments would produce meaningful revenue and profit growth, according to CNBC. For Fastly, which has had 81 moves greater than 5% over the past year, the article says this drop is rare enough to indicate the news significantly affected the market's view of the business. The article also cites CNBC reporting that Anthropic generated $16.8 billion in third-quarter revenue, fueling concern that enterprise technology budgets are shifting toward foundation model providers.
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Related tickers and likely impact
MSFT
• NeutralMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/30/2026 | 521.90 |
| Change that session | -1.55% |
QQQ
• NeutralInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/30/2026 | 690.49 |
| Change that session | -3.47% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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