Todays Market Movers: Micron, Alphabet, Constellation Energy, and Vicor Lead Stock Action

TLDR

• Micron posted strong fiscal fourth-quarter earnings but shares slipped 0.4% on AI demand doubts.
• Alphabet’s Google unveiled its new Gemini 4 Argon AI model, and the stock rose.
• Constellation Energy and Amazon signed a $3 billion deal to expand a Maryland nuclear plant.
• Vicor jumped after raising its third-quarter growth guidance on new licensing royalties.
• Corteva shares dropped sharply following the planned spinoff of its Crop Protection business into a new company called Vylor.

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Stock futures were mixed Thursday as markets opened the fourth quarter of trading. Bond yields kept climbing after posting their biggest quarterly gain since 1994.

Micron shares slid 0.4% despite a strong fiscal fourth-quarter earnings report. The memory chip maker’s business tends to swing between boom and bust cycles. Investors are still unsure how long the artificial intelligence boom can keep driving chip sales higher.

Micron Technology, Inc., MU

Alphabet Unveils New AI Model

Alphabet’s Google introduced a new AI model called Gemini 4 Argon on Wednesday. The company said the model will first go to a group of cybersecurity firms and government users.

Developers, businesses, and everyday consumers will get access later, after more safety testing. Google said Argon beat competing models from OpenAI and Anthropic in 13 of 19 benchmark tests.

One test measured long-term software engineering tasks, where Argon scored 77.9%. Google plans to charge $2 per million input tokens and $10 per million output tokens for the model. Alphabet shares gained 2.2% on the news.

Paramount Skydance fell 1.2% on Thursday. Warner Bros. Discovery traded flat. Both media companies said late Wednesday that they expect to close their $81 billion merger on October 6, pending standard closing conditions.

Constellation Energy Strikes Nuclear Deal

Constellation Energy rose 3.7% after announcing a deal with Amazon. The two companies agreed to a $3 billion, 20-year plan to expand a nuclear plant in Maryland.

The expansion will add about 190 megawatts of capacity to the plant. Power demand tied to data centers and AI has pushed energy companies to secure long-term supply deals this year.

Vicor stock surged 12% after the power module maker raised its guidance. The company now expects third-quarter sequential growth of 20%, up from an earlier forecast of 10%.

Vicor said the increase comes from royalties tied to a recently announced licensing deal. A separate report from Seeking Alpha put the updated guidance even higher, at more than 30% growth, reflecting royalties from the company’s first non-exclusive license for vertical power delivery technology.

Madison Square Garden Sports shares rose slightly. The company’s board approved a plan to spin off the New York Rangers from the New York Knicks. That deal is expected to close on October 26.

Several big names are set to report quarterly earnings on Thursday. These include Accenture, Acuity, McCormick, and Nike.

Elsewhere, Inogen shares jumped 8% after the company agreed to sell its U.S. oxygen rental business to Rotech Healthcare. The deal is worth up to $25 million and is expected to close in the fourth quarter of 2026.

Inogen also signed a long-term supply agreement with Rotech. The company increased its share buyback authorization by $15 million, bringing the total to $45 million.

Corteva shares dropped 64% after the company finalized plans to separate its Crop Protection business into a new, independent public company named Vylor. Corteva shareholders will receive shares in Vylor while keeping their existing Corteva shares.

The sharp drop reflects a mechanical price adjustment tied to the distribution, not a typical sell-off. The separation takes effect October 1.