Thursday’s list of top trending stocks today reads like a study in contrasts: a fintech disruptor riding blockchain bragging rights to a 16% surge, a data-cloud giant posting one of the best earnings reactions of its public life, and a rare-disease biotech losing nearly half its value in a single session after a pivotal drug trial failed. Broadcom and Hewlett Packard Enterprise both delivered beat-and-raise quarters overnight and got punished anyway, while Lululemon and Planet Labs sit in a holding pattern ahead of their own earnings tonight. It’s a session with almost no single macro thread tying it together — just ten distinct, high-stakes company stories colliding on the same trading day.

Thursday’s Session at a Glance:

Against that backdrop, here are the 10 stocks that mattered most on Thursday, September 3.

1. Robinhood Markets (HOOD) | Up 16.37% | Last Close $124.50

A Blockchain Bragging Right Sends Shares to a Fresh 2026 High

Robinhood shares surged after its proprietary Layer-2 blockchain network, Robinhood Chain, generated over $3.8 million in network revenue on a single day — ranking first among all blockchain networks globally and capturing roughly 38% of total network revenue for that day, according to Messari.

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Catalysts & News: The blockchain milestone landed on top of a concentrated wave of bullish analyst calls: Morgan Stanley upgraded HOOD from Equal Weight to Overweight on September 1, citing growing evidence that Robinhood’s expanded product lineup — prediction markets, retirement accounts, banking, and digital assets — is deepening revenue per customer. Robinhood is entering September after a strong August rally of more than 21%, having already broken above $100 for the first time.

Bull Case: A diversified product suite spanning prediction markets, crypto, retirement, and now on-chain infrastructure gives Robinhood multiple growth vectors beyond simple trading commissions, and today’s blockchain data point is genuine, verifiable evidence of platform traction rather than pure narrative.

Bear Case: At roughly 46x earnings and after a 21%+ monthly rally into today’s move, HOOD is priced for a lot of continued good news — any slowdown in retail trading activity or crypto volumes could trigger a sharp multiple compression.

Technical Levels: Support at $109–$110 (yesterday’s close zone); resistance at the 52-week high of $153.86.

Forecast: With Morgan Stanley’s $150 target now roughly in line with the stock’s post-surge level, the next leg higher likely depends on Robinhood Chain sustaining its network-revenue leadership rather than being a one-day headline.

Why This Matters: Robinhood’s move shows how quickly a fintech can re-rate when it demonstrates genuine infrastructure traction rather than just trading volume — a template other crypto-adjacent brokerages will be watched against.

2. Snowflake (SNOW) | Up 20.59% | Last Close $368.83

A Beat-and-Raise So Strong It Broke the 52-Week High

Snowflake shares surged as much as 20.9% after the AI data cloud company reported fiscal second-quarter 2027 results that topped expectations on every key metric, with adjusted EPS of $0.62 crushing the $0.45 consensus and sending shares well above their prior 52-week high.

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Catalysts & News: Product revenue grew 37% to $1.49 billion, marking the third consecutive quarter of revenue acceleration, while net revenue retention held at 126% and total customer count grew to 14,554, up 32% year over year. CoCo, Snowflake’s AI coding agent, surpassed 9,100 accounts after adding more than 2,000 in the quarter. Bank of America reiterated its Buy rating, noting Snowflake “has plenty of room for growth following earnings.”

Bull Case: Three consecutive quarters of accelerating revenue growth — a rarity at this scale — combined with expanding margins and a raised full-year outlook validate Snowflake’s position as critical AI-era data infrastructure, not just a beneficiary of AI hype.

Bear Case: At roughly 137x forward earnings, Snowflake’s valuation leaves virtually no room for a stumble, and insiders have sold over $321 million in shares over the trailing three months even as the stock rallied.

Technical Levels: Support now sits at the old 52-week high of $341.95; resistance is essentially uncharted territory above today’s new high.

Forecast: With guidance raised and the stock breaking into new-high territory, momentum likely persists near-term, though the premium valuation means any deceleration in future quarters could trigger an outsized pullback.

Why This Matters: Snowflake’s reaction is the cleanest counter-example this week to the “beat-and-raise gets punished” pattern seen at Broadcom and HPE — proof that the market will still richly reward a quarter when acceleration, not just growth, is the story.

3. Broadcom (AVGO) | Down 3.66% | Last Close $353.81

A Record Quarter That Still Wasn’t Enough

Broadcom reported record fiscal Q3 2026 results, with revenue up 86% year-over-year to $29.6 billion and AI semiconductor revenue growing 221% to $16.7 billion, but shares fell after a Q4 revenue guide of $34.8 billion came in below Wall Street’s whisper number.

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Catalysts & News: Semiconductor Solutions revenue more than doubled to $20.8 billion, up 127% year-over-year, while net income more than tripled to $13.09 billion. CEO Hock Tan outlined plans for a 1.3-gigawatt Jalapeno chip deployment in 2027 with a line of sight to over 5 gigawatts, and guided to $115 billion in AI revenue for fiscal 2027, doubling again to $230 billion in fiscal 2028. Despite the beat, shares had already lagged the S&P 500 in 2026 — up only about 6% versus the index’s 12% gain heading into the print.

Bull Case: A credible path to $230 billion in AI revenue by fiscal 2028, custom silicon relationships with Google, Meta, and OpenAI, and a stock that’s actually underperformed the broader market this year all suggest room for re-rating if execution continues.

Bear Case: The pattern of “beat now, disappoint on next-quarter guidance” has repeated at Broadcom multiple times this year — a prior quarter saw the stock fall 14–15% despite a beat simply because the AI outlook didn’t clear an elevated bar.

Technical Levels: Support at the 200-day moving average near $370 (now broken to the downside); resistance at $370, then the 52-week high of $495.

Forecast: With AI semiconductor revenue still growing over 200% year-over-year, the medium-term growth story remains intact — but expect continued volatility around every quarterly guide until Broadcom’s Q4 numbers prove the $34.8 billion guidance was conservative rather than a genuine deceleration signal.

Why This Matters: Broadcom’s reaction — a record quarter still met with selling — reinforces that AI infrastructure stocks are now being priced on forward guidance almost exclusively, with backward-looking beats treated as old news.

4. Hewlett Packard Enterprise (HPE) | Down 3.67% | Last Close $49.93

Record Results, But Supply Chain Fears Take Over

HPE shares fell roughly 5–6% despite delivering a strong fiscal third quarter and raising its outlook for both fiscal 2026 and fiscal 2027, as memory-chip supply constraints overshadowed otherwise blowout numbers.

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Catalysts & News: CEO Antonio Neri cautioned that supply availability will remain “very constrained” through 2028, with memory chips representing the primary bottleneck, even as HPE’s networking segment — boosted by the Juniper Networks acquisition — grew 75% to $2.9 billion. The company also announced an expanded partnership with Oracle to deploy HPE Juniper Networking across Oracle’s AI data centers.

Bull Case: Record orders and backlog show AI infrastructure demand remains robust, and a raised fiscal 2027 revenue growth outlook to 13–17% suggests the growth story extends well beyond a single quarter.

Bear Case: A CEO explicitly flagging supply constraints through 2028 is a multi-year headwind, not a one-quarter blip — and with the stock already up over 100% in 2026 heading into the print, expectations left little room for anything less than a flawless setup.

Technical Levels: Support at $48–$49 (today’s low zone); resistance at $55, then the 52-week high of $64.25.

Forecast: HPE’s ability to convert its expanding backlog into revenue as component availability improves is now the central question for the stock — any sign of easing memory supply would likely trigger a sharp relief rally.

Why This Matters: HPE’s stumble alongside Broadcom’s shows that “record results” is no longer sufficient for AI infrastructure stocks this earnings season — investors are now scrutinizing supply chains and guidance quality with equal weight to headline beats.

5. AppLovin (APP) | Down 2.68% | Last Close $310.51

An “Algorithmic Moat” Under the Microscope

AppLovin’s market cap stood near $107.2 billion as of September 3, 2026, with the stock still down roughly 52.7% year-to-date as investors continue to debate whether its AI-driven ad-tech advantage can withstand competitive pressure from larger platforms.

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Catalysts & News: AppLovin’s Q2 miss in early August — its first-ever miss of its own guidance midpoints since going public, according to Piper Sandler — triggered a wave of analyst downgrades from Wells Fargo and Piper Sandler, and skepticism has persisted since, with Evercore cutting its target again this week even while reiterating conviction in the long-term model.

Bull Case: Despite the drawdown, AppLovin still grew revenue 53% year-over-year with 84% EBITDA margins and generated $863 million in free cash flow last quarter — fundamentals that look nothing like a broken business, and the current consensus target implies substantial upside from here.

Bear Case: A widely-followed investor recently argued the company’s “algorithmic moat is vulnerable” to competitive shocks from Meta and Alphabet’s broader data ecosystems, and multiple securities-fraud investigations continue to weigh on sentiment.

Technical Levels: Support at $297–$300 (near 52-week lows); resistance at $335, then $400.

Forecast: AppLovin’s next real test comes with Q3 results — a return to beating its own guidance midpoints would be the clearest signal yet that the Q2 stumble was a timing issue rather than a structural moat problem.

Why This Matters: AppLovin’s continued weakness despite genuinely strong underlying metrics illustrates how quickly a “priced for perfection” AI-adjacent stock can lose Wall Street’s benefit of the doubt after a single disappointing quarter.

6. Lululemon Athletica (LULU) | Down 0.72% | Last Close $119.21

The Calm Before Tonight’s Earnings Storm

Lululemon shares dipped slightly ahead of fiscal second-quarter results due after Wednesday’s — err, Thursday’s — market close, with options traders pricing in an 8.1% implied move on a stock that has exceeded its implied earnings move in six of its past eight reports.

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Catalysts & News: Tonight’s report also marks a leadership transition, with Heidi O’Neill set to take over as CEO this month, replacing outgoing leadership amid a stretch of weak North American and China sales trends. Piper Sandler and Needham have both maintained cautious Hold ratings into the print, while UBS and Goldman Sachs have cut price targets in recent weeks.

Bull Case: At roughly 9.5x earnings, LULU trades at a steep discount to its historical multiple, and any signs of stabilizing North American demand — combined with clarity on the new CEO’s turnaround strategy — could spark a sharp relief rally from deeply depressed sentiment.

Bear Case: The stock is down roughly 44% year-to-date on genuine demand deterioration, not just multiple compression, and a new CEO’s first earnings call carries elevated uncertainty about strategic direction.

Technical Levels: LULU trades above its 50-day moving average (~$118.86) but below its 200-day moving average (~$120.45) — a technically mixed setup; support at $115, resistance at $124.

Forecast: Given the 8.1% options-implied move and LULU’s history of exceeding it, expect a significant single-session swing once results land tonight — direction will hinge entirely on China comps and new CEO commentary.

Why This Matters: Lululemon’s earnings tonight is a genuine binary event for a stock trading at trough multiples — a beat could mark a turning point, while another miss risks reinforcing the “broken growth story” narrative that’s dogged shares all year.

7. Planet Labs PBC (PL) | Down 9.11% | Last Close $18.17

A Satellite Data Company Sinking Below Every Key Moving Average

Planet Labs shares fell heading into its own fiscal second-quarter 2027 earnings report, due after Thursday’s close, with the stock trading well below its 20-day, 50-day, 100-day, and 200-day moving averages — a technically bearish setup analysts describe as needing “time and multiple closes back above key averages” to repair.

Full Data Snapshot:

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Catalysts & News: Planet Labs confirmed its Tanager-2 hyperspectral satellite and 18 SuperDove satellites reached Vandenberg Space Force Base ahead of a planned SpaceX Transporter 18 launch, a genuine operational milestone that hasn’t been enough to offset broader pre-earnings caution — shares are down over 54% over the past 90 days.

Bull Case: A one-year total shareholder return above 200% shows the long-term growth story remains intact, and the current sell-off — combined with a $34.90 average analyst target — suggests the stock may be significantly undervalued relative to accelerating global demand for daily Earth-observation data.

Bear Case: The technical setup is unambiguously bearish, with a “death cross” (50-day moving average below the 200-day) confirmed in August, and the company remains unprofitable with a widening loss (−100.4% YoY) even as revenue grows.

Technical Levels: Support near $18 (today’s zone, close to recent lows); resistance at $22–$24, then the 200-day moving average further above.

Forecast: Tonight’s earnings — and specifically commentary on the path to sustained positive free cash flow — will likely determine whether Planet Labs can begin repairing its badly damaged technical picture.

Why This Matters: Planet Labs’ pre-earnings slide despite genuine operational progress (satellite launches, government contracts) shows how unforgiving the market has become toward unprofitable growth stories, regardless of execution quality.

8. Ultragenyx Pharmaceutical (RARE) | Down 45.16% | Last Close $14.55

A Late-Stage Trial Failure Erases Years of Optimism in One Session

Ultragenyx’s investigational Angelman syndrome therapy apazunersen failed to improve cognition in its Phase 3 Aspire study, missing both the primary endpoint and a key secondary endpoint, and sending shares crashing more than 45% and forcing the company into a strategic review.

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Catalysts & News: The Phase 3 Aspire study did not achieve its primary endpoint of change from baseline in Bayley-4 cognitive raw score, nor its key secondary endpoint, prompting Ultragenyx to announce it will “assess its planned operations” and pursue “significant expense reductions” while pivoting focus toward its commercial portfolio, including the recently FDA-approved gene therapy Genglycos for glycogen storage disease type Ia.

Bull Case: JPMorgan sees fundamental value in Ultragenyx’s commercial business alone in the mid-$20s per share range, including probability-adjusted revenue from UX111 in MPS IIIA, which has a high likelihood of FDA approval later this month — meaning today’s crash may have overshot the actual fundamental damage.

Bear Case: The apazunersen failure raises serious concerns about Ultragenyx’s parallel Aurora trial using the same mechanism, and the company remains unprofitable and cash-burning with a negative gross margin, now facing a strategic review with an uncertain outcome.

Technical Levels: Shares fell well below the prior 52-week low of $18.29 to new multi-year lows; no meaningful technical support exists below current levels given the unprecedented single-day move.

Forecast: The UX111 PDUFA decision later this month is now the single most important near-term catalyst — a positive approval could partially offset today’s damage, while any further delay would compound an already brutal week for shareholders.

Why This Matters: Ultragenyx’s collapse is a stark reminder of binary clinical-trial risk in biotech — a single failed Phase 3 readout erased more than half the company’s market value in hours, regardless of a genuinely strong commercial business underneath.

9. Summit Therapeutics (SMMT) | Up 16.44% | Last Close $17.00

Ivonescimab Beats Keytruda on Survival — And the Market Notices

Summit Therapeutics shares surged after development partner Akeso announced that ivonescimab monotherapy delivered a statistically significant overall survival benefit compared to Merck’s Keytruda in the Phase 3 HARMONi-2 study — a landmark readout in one of oncology’s most competitive indications.

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Catalysts & News: The 398-patient, China-based HARMONi-2 trial had previously shown a meaningful progression-free survival benefit, and today’s overall survival readout reinforces ivonescimab’s potential as a best-in-class therapy for PD-L1-positive non-small cell lung cancer. Specific hazard ratio and median survival data weren’t disclosed and are expected at an upcoming medical conference. H.C. Wainwright reiterated a Neutral rating without a price target following the news.

Bull Case: Beating pembrolizumab — the current standard of care and one of the best-selling drugs in the world — on overall survival, not just progression-free survival, is an extremely high bar to clear, and success here strengthens Summit’s broader ivonescimab development program across multiple cancer types.

Bear Case: Key statistical details (hazard ratio, median survival times) remain undisclosed, and the trial was conducted entirely in China by partner Akeso, raising questions about how directly the data will translate to U.S. regulatory pathways and commercial uptake.

Technical Levels: Support at $14.60 (yesterday’s close); resistance at $18, then the 52-week high of $29.23.

Forecast: Full data disclosure at the upcoming medical conference is the next major catalyst — the market’s enthusiastic reaction today suggests high expectations for those details to confirm today’s headline result.

Why This Matters: Summit’s rally is one of two dramatically opposite biotech stories on today’s list — a reminder of just how binary clinical-stage biotech investing remains, with headline trial results capable of swinging market caps by billions in either direction within hours.

10. Bloom Energy (BE) | Up 8.89% | Last Close $236.60

AI Power Demand’s Favorite Stock Keeps Climbing

Bloom Energy shares jumped 8% in a broadly risk-on session, with the move reflecting overall market appetite for high-beta names rather than a fresh company-specific catalyst — extending a 2026 run that has made Bloom one of the year’s standout AI infrastructure plays.

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Catalysts & News: CEO KR Sridhar declared Bloom “the standard for AI onsite power” after a Q2 print that beat on every metric, with the company now approved by all major U.S. hyperscalers and over a dozen neocloud, AI lab, and colocation data center operators. Unlike fuel-cell peer FuelCell Energy, which missed estimates this week, Bloom’s momentum reflects genuine share-of-wallet gains in the AI power buildout, not just sector-wide sentiment.

Bull Case: A validated position as the preferred onsite power solution for hyperscalers, a raised full-year guide implying roughly $4 billion in 2026 revenue, and “time-to-power” advantages over traditional grid connections all support continued demand growth well into 2027.

Bear Case: At today’s price, Bloom carries an elevated valuation with a price-to-sales ratio in the mid-teens, and CEO Sridhar himself has acknowledged the company can’t scale as fast as a software business — supply constraints could cap how quickly revenue growth can continue accelerating.

Technical Levels: Support at $212–$217 (recent trading range); resistance at $225, then the 52-week high of $351.28.

Forecast: With Bloom now up over 150% in 2026 and analyst price targets ranging as high as $390, further upside likely depends on continued backlog conversion and additional hyperscaler contract announcements rather than pure multiple expansion.

Why This Matters: Bloom Energy’s continued strength — even on a day with no fresh catalyst — shows just how much investor conviction has built around AI power infrastructure as a durable, multi-year theme rather than a passing trade.

Sector Sentiment Snapshot & Forecast

Today’s session underscores just how fractured the market’s response to AI infrastructure earnings has become. Snowflake proved a true acceleration story still gets rewarded richly (+20.6%), while Broadcom and HPE both delivered genuine beat-and-raise quarters and got sold anyway — the difference coming down to forward guidance quality and, in HPE’s case, explicit supply-chain caution through 2028. Robinhood and Bloom Energy show that high-beta momentum names can still run hard even without earnings catalysts, riding broader risk appetite and thematic conviction (blockchain infrastructure, AI power demand). And biotech delivered the day’s most extreme swings, with Ultragenyx’s binary trial failure (−45%) sitting directly alongside Summit Therapeutics’ binary trial success (+16%) — a reminder that clinical-stage healthcare remains the market’s highest-variance corner.

With Lululemon and Planet Labs both reporting after tonight’s close, expect Friday’s session to open with fresh volatility in retail and space-tech names, extending this week’s pattern of earnings-driven whiplash across nearly every sector.

At a Glance: Today’s Top 10 Trending Stocks

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Disclaimer: This publication is entirely for informational and journalistic purposes and does not constitute formal financial, investment, or legal advice. All market investments carry inherent risks of capital loss, and clinical-stage biotech and small-cap stocks carry elevated risk. Stock prices, percentage moves, and market data cited reflect figures available at the time of publication and are subject to change as trading continues. Analyst price targets and ratings are third-party estimates and do not guarantee actual results. Lululemon and Planet Labs report earnings after this publication — actual results and subsequent market reactions may differ significantly from the expectations described here. Always complete independent due diligence prior to executing equity trades.

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Kasia Davis

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