Cisco (CSCO-US) reported memory price inflation squeezed its gross margin, sending its stock down over 12% on Thursday, February 12, 2026, and拖累 peers Dell (DELL-US), Hewlett Packard Enterprise (HPE-US), and Arista Networks (ANET-US),拖累 the S&P 500 Information Technology index about 2.7% on the same day.

For the quarter ended February 2–4, 2026, adjusted gross margin is forecast 65.5%–66.5%, below analyst average of 68.2%. Management attributed the decline to product mix changes and rising memory costs, with CEO Chuck Robbins stating the company is raising prices on select products and revisiting contracts with channel partners and customers to manage component price volatility.

The outlook signals continued margin pressure for 2–3 quarters. Direxion’s Jake Behan said strong demand and growth in revenue are key tailwinds, but compressed gross margins dulled the report. The market will closely watch how quickly Cisco converts order backlog into realized revenue this下半年.

Ryerson’s Jordan Klein warned peers face “substantial risk” from Cisco’s weakness, with Dell, HP, and Arista all down on the earnings release: Dell -9.13%, HPE -6.76%, Arista -3.94%.

Bank of America cut target prices on Dell and HP, warning companies must raise prices or cut operating expenses to defend profit margins. To maintain positive operating profit margins, Dell may need to cut 15%–20% of operating expenses or reduce product specifications; HP could face up to 10% cuts.

The Kospi-200 index is showing signs of overbought conditions, with the relative strength index (RSI) at 62.3 and volume outpacing 30-day averages by 23%. Traders are anticipating profit-taking ahead of the Friday close as technical indicators suggest a potential pullback. The index closed at 2,431.59 on February 10, up 0.8% for the session, but has since risen 3.2% over the past three trading days.

Supporting context: The Hang Seng and Nikkei are also showing similar overbought patterns, indicating a broader Asian equity market caution ahead of the week's end.

OpenAI notified the House Select Committee on China that its rival DeepSeek is leveraging distillation—using outputs from OpenAI and other US models to train new capabilities—via increasingly obfuscated methods to evade its platform controls. The memo, dated February 12, 2026, follows a probe into whether DeepSeek improperly accessed data after the R1 model’s release in 2025.

DeepSeek reportedly circumvented guardrails by routing through third-party systems, accessing models programmatically, and using unauthorized resellers. These practices could erode US AI leadership and threaten OpenAI and Anthropic, which charge for premium services. OpenAI also highlighted risks from censored content enabling broader misuse in high-impact areas like biotech and chemistry.

The company said DeepSeek employees are developing agent-based models, with a potential release targeted for late 2025. US-China tensions over AI and semiconductors continue, with access to advanced chips potentially accelerating DeepSeek’s progress despite export restrictions on certain hardware.

U.S. stock futures rose modestly Thursday as the broader market selloff continued, with investors eyeing the upcoming CPI inflation report before Friday’s open.

ES=F gained 0.2%, NQ=F climbed 0.3%, and YM=F rose 0.1%. The session saw significant selling: ^GSPC down 1.6%, ^IXIC down 2.0%, and ^DJI fell 670 points or 1.3%.

AI-related volatility spread to real estate, transportation, and software. All seven Magnificent Seven components closed negative; CSCO -12% after weak forward guidance, and AAPL -5% its steepest one-day decline since April 2025.

In extended sessions, AMAT +11% and RIVN +14% following better-than-expected earnings and revenue of $1.286B vs. $1.26B.

The January CPI report is the week’s top focus, with earnings season continuing, including MRNA’s Friday report following a 10% drop after the FDA rejected an investigational flu vaccine.

IBM plans to triple U.S. entry-level hiring in 2026, according to Bloomberg, as announced by Nickle LaMoreaux, the company’s chief human resource officer, at a leading AI summit on February 12, 2026.

The initiative shifts focus from coding and other AI-automatable tasks to roles emphasizing customer engagement and other human-forward responsibilities. IBM has not provided a specific number of hires.

The timing follows an MIT 2025 study estimating 11.7% of jobs could be automated by AI, with early 2026 expected to show AI’s impact on labor markets, as indicated by investor sentiment.

Pinterest reported fourth-quarter revenue of $1.32B, missing $1.33B expectations, and EPS of 67¢, below 69¢ forecast. The company said searches on its platform reached 80B monthly, versus 75B for ChatGPT, with over half commercial and 1.7B monthly clicks. First-quarter 2026 revenue guidance of $951M-$971M is below $980M estimates, citing soft spending in Europe and a new furniture tariff. Shares fell 20% in after-hours trading as the AI shopping shift and user-driven intent to buy outpace Pinterest’s ability to convert traffic into ad revenue. CEO Bill Ready highlighted visual search, discovery, and personalization, plus an easier checkout via Amazon, as competitive advantages in the evolving commerce landscape.

Applied Materials (AMAT-US) reported Q2 revenue and profit well-above analyst forecasts, driven by robust AI processing demand and global semiconductor shortages. The results prompted a 13.7% after-hours price boost on February 12, 2026, outpacing peers.

Key figures: Revenue $76.5B vs $70.3B; EPS $2.64 vs $2.29. President and CEO Gary Dickerson attributed growth to heightened demand for high-performance, energy-efficient chips, HBM, and advanced packaging, with clients like Samsung and Micron expanding capacity amid supply constraints. The company also resolved a DOJ probe into illegal exports to China with a $2.525B settlement.

Q1 results, released earlier on February 12, showed revenue up 2% to $70.1B vs $68.7B, non-GAAP EPS of $2.38 vs $2.20. Chip business revenue rose 34% compared to 27% in Q1 2025.

NVIDIA (NVDA-US) is expected to lease a data center under construction, financed by a $3.8 billion high-yield bond issuance, reflecting heightened demand for debt funding in AI data center construction. The bond, issued by SV RNO Property Owner 1, a vehicle of Tract Capital, will fund a 200 MW data center and substations in Storey County, Nevada. The transaction, valued at $3.815 billion as of February 13, 2026, is pricing around 6%, with a 16-year lease and two 10-year extension options.摩根大通 (JPM-US) is lead underwriter and摩根士丹利 (MS-US) is co-lead; pricing is expected Friday. NVIDIA also rents capacity from AWS and Azure as it expands AI design and chip development, sectors driving escalating compute needs.

Afternoon trading saw broader selloffs as investors grew more selective in the AI-driven rally. The Nasdaq fell 1.5%, with the S&P 500 and Dow also down. A stronger-than-expected U.S. jobs report—non-farm payrolls rising and unemployment falling—delayed the first potential Fed rate cut to July, shifting the present value of future earnings and pressuring growth sectors.

Health Catalyst (HLTH) posted a 18.9% YTD decline, trading at $1.85 per share, 66.7% below its February 2025 52-week high of $5.55. The stock dropped 8.4% on Feb 9 amid AI-related sector-wide dislocation, with the Magnificent Seven and S&P IT sector down nearly 3% on the same day. A $1,000 investment made five years ago is worth $34.46 today.

<para>As of 6:30 PM on February 12, 2026, Nikkei 225 Yen futures trade at 500 yen. Estimated trading volume for the day is 446 contracts, compared to 26,680 contracts on Wednesday. Open interest stands at 89,227 contracts, down 51,617 from the previous day.</para>

<para>Contract values are expressed in yen, with one futures contract representing 100 Nikkei 225 index points. The significant decline in open interest suggests reduced speculative activity or hedging, though broader macroeconomic factors may continue to influence sentiment.</para>

Afternoon trading saw Amplitude, Toast, Zeta Global, Teradata, and SoundHound AI among those falling as investors grew more selective in the AI-driven rally. The Nasdaq declined 1.5%, with the S&P 500 and Dow also down. A stronger-than-expected jobs report suggested the first potential Fed rate cut may be in July rather than June, pressuring growth sectors and creating a headwind for software stocks.

Data showed non-farm payrolls rose, employment held near a 50-year low, and unemployment fell, reinforcing expectations of a delayed easing. This shift in policy timing increased volatility and prompted a broader sell-off as investors reassess valuations and future earnings.

Teradata’s shares, volatile with 12 moves exceeding 5% in the past year, were hit on the heels of a Barclays report indicating sticky incumbents in SaaS benefit from the protracted transition from seat-based to AI-driven subscriptions, providing a moat for established providers.

Twilio Inc (TWIL) reported a wider net loss in Q4 2025, to $21.9 million or $0.30 per share, versus a loss of $18.7 million or $0.26 per share in the same period of 2024. Revenue rose to $421.3 million, up 12.3% year-over-year. The company attributed the broader loss to higher investments in AI and cloud capabilities, as well as increased sales and marketing spending to support growth. The stock closed at $43.15 on February 12, 2026, down 1.8% on the news.

Legacy Education Inc. (LEUQ) reported second-quarter net profit of $18.5 million, up 12% from $16.5 million in the same period of 2025. Revenue rose 8% to $79.3 million. The increase followed a 10% raise in tuition effective July 1, 2026, and a shift to online learning that reduced operating costs by 3%. CEO John Martinez stated the results reflect "stronger enrollment and disciplined cost management."

Ryan Specialty Holdings (RSG) released its Q4 results, reporting a decline in net income by 12% to $34.8 million, or $0.27 per share, versus $38.3 million, or $0.31 per share, in the same period of 2025. Revenue for the quarter fell 10% to $1.02 billion from $1.13 billion. The results reflect continued pressure from pricing declines and lower demand in the global specialty insurance market. The company attributed the performance to macroeconomic headwinds and ongoing rate reductions in key markets.

SPS Commerce (SPC) reported fourth-quarter net profit of $48.9 million, up 23% from $39.9 million in the same period of 2025, ending February 9, 2026. Revenue rose 12% to $214.3 million, driven by strong e-commerce growth and expanded payment solutions. The company attributed the results to increased online sales and cost optimization initiatives. For 2026, management expects full-year revenue of $860 million +/- $10 million and adjusted EBITDA of $145 million +/- $5 million.

Toast Inc. (NASDAQ: TSO) reported fiscal 2025 Q4 revenue of $198.3 million, a 12% increase from $177.1 million in the same period of 2024. Net profit for the quarter rose to $29.5 million, up from $19.3 million in Q4 2024, driven by strong growth in its hotel booking platform. The company attributed the improvement to a 23% year-over-year increase in active users and a 15% rise in average order value. Management cited continued adoption of its cloud-based POS solutions as a key factor in the performance boost.

Iridium Communications Inc. (IRDM) released results showing a decline in fourth-quarter 2025 profit, reflecting continued pressure from lower satellite communications demand and pricing adjustments. The company reported a net loss of $12.3 million for Q4 2025, compared to a loss of $7.8 million in the same period of 2024, with revenue down to $41.6 million from $46.2 million.

The decline follows a strategic shift toward commercial services and a reduction in government contracts, which management attributed to evolving market dynamics and operational efficiencies. The company plans to issue its full-year 2025 results on February 28, 2026, following a review of its cost structure and service offerings.

Bernstein’s stress test under a worst-case scenario—complete loss of OpenAI and all 2025 fiscal fourth-quarter onward AI contracts—finds Oracle (ORCL-US) could still support a price of $137 per share, implying about 15% downside from its current ~$160 level. Core database, SaaS, and OCI revenue would cover roughly 85% of existing valuation.

Data center commitments, while $24.8B on balance, pose a staggered risk: peak exposure around 2030 of $130B–$165B across 15–19-year terms with phased capacity. Server and GPU CAPEX tied to AI is often orderable 3–6 months before onboarding; delays or cancellations limit sunk costs, and assets are generally reusable.

Including ~$25B in recent debt and equity financing, the model projects $101B revenue and ~$9 EPS in 2030. At a peer-average P/E of 27.3, intrinsic value is ~$137. With funding constraints easing, the risk-reward profile is improving.

On February 12, 2026, ORCL-US traded down to a session low of $152.50 before rebounding to $159.04, closing at ~$156.43.

Palantir Technologies (PLTR) closed down 4.9% to $129.00 on February 12, 2026, following a bearish note from Michael Burry, co-founder of Scion Asset Management, who wrote in a Substack newsletter that the company is worth as little as $46. Burry cited high spending, margin inflation, and a potentially overextended winning streak as reasons to doubt the stock's fundamentals, though he is not currently shorting PLTR and has placed options bets instead.

The stock is down nearly 40% from its November 2025 record high and has more than doubled since the start of 2025, following a 340% surge in 2024. Of eight Wall Street analysts tracked by Visible Alpha, half rate PLTR as buy, half as hold, with the lowest price target at $180, still about 40% above Burry's estimate. Analysts remain split, reflecting broader concerns about the company's valuation despite strong revenue growth and recent earnings.

Credicorp Ltd. (BAP) reported Q4 net income of $468.8 million, or $5.88 per share, missing analyst estimates of $6.61 per share. Revenue for the quarter was $2.18 billion; revenue net of interest expense reached $1.8 billion. Year-over-year profit totaled $1.94 billion, or $24.35 per share, on revenue of $6.55 billion. Credicorp shares closed at $341.05, up 19% year-to-date, and 85% over the last 12 months.