Key Highlights

  • ServiceNow (NYSE:NOW) leads with a 26.5% close-to-close fall to USD 110.30 on October 29, 2026, while Intel is down about 25% in Friday premarket; the ranking mixes closing prices and premarket snapshots, so it is approximate.
  • Fortinet (NASDAQ:FTNT) closed down 20.8% on October 29, 2026, while Reddit was indicated 20% to 23% lower in premarket, so the order of third and fourth place depends on whether closes and snapshots are compared.
  • Alphabet (NASDAQ:GOOGL) closed down about 12.7% at USD 283.70 on October 29, 2026, the smallest of the five; after-hours falls at Roblox, Twilio and Pinterest of 12% to 19% are left out because those quotes are thinner.
  • Intel, Reddit (NYSE:RDDT) and ServiceNow trace to guidance, Alphabet to an EPS miss with negative free cash flow, and the Fortinet cause is disputed between a beat on the quarter and a lowered service Revenue forecast.

ServiceNow (NYSE:NOW): No. 1 by closing fall

ServiceNow (NYSE:NOW) fell 26.5% on October 29, 2026 to close at USD 110.30, its largest one-day fall as a member of the S&P 500, according to two accounts. The decline followed results reported on October 28, after which the shares had already dropped between 14% and 19% after hours. Adjusted Earnings Per Share were USD 0.27. One account cites an expected USD 0.35, another a miss of only USD 0.02, so the true gap is unresolved. The company guided 2026 subscription revenue to about USD 15.78 billion to 15.79 billion, and one account said Q4 guidance was weak. That cause is one-account and has not been checked in a filing. Subscription software is valued on forward growth. When a leader like ServiceNow (NYSE:NOW) hints that near-term growth may slow, investors cut the multiple they pay for each dollar of future revenue, and a modest estimate cut can become a large price move. A miss at a bellwether also raises doubt about peers that sell similar workflow and AI tools.

Intel (NASDAQ:INTC): About 25% premarket gap

Intel (NASDAQ:INTC) reported results after the close on October 29, 2026. Q3 adjusted EPS was USD 0.52 against a USD 0.40 estimate, and revenue was USD 16.5 billion, up 21% year over year. Data Center revenue climbed nearly 80% to USD 7.3 billion. The problem sits in the forward numbers: the Q4 revenue guide of USD 15.0 billion to USD 16.0 billion and non-GAAP EPS guide of USD 0.25 fell short of expectations. Earlier estimates, as cited in several summaries, were about USD 17.1 billion and USD 0.43 to USD 0.44. The premarket quote of USD 68.44 compares with a prior close of about USD 92.07, a figure derived by simple arithmetic from the quoted decline. Markets price the next several quarters, not the one just finished. A guide below consensus resets those expectations, so a strong quarter can still trigger a sharp repricing when the outlook disappoints. The cause is reported to be sluggish PC demand, which comes from published market commentary rather than a company statement we could verify.

Fortinet (NASDAQ:FTNT): Second-largest S&P 500 loser

Fortinet (NASDAQ:FTNT) fell 20.8% on October 29, 2026 to close at USD 137.93, behind only ServiceNow's 26.5% drop among S&P 500 members. Bank of America moved its rating to Neutral, as reported. One account says full-year service revenue was lowered, but another says headline results beat, so we cannot confirm the cause from a filing. A third snapshot shows a further 27.5% drop in Friday premarket, which is a figure that rests on one account from before the open and may not hold. Earlier, CrowdStrike and Palo Alto were already down about 6% after hours on October 28, which suggests the sell-off across Cybersecurity began before Fortinet's own move. Security vendors earn from hardware sales, subscriptions and services. Service revenue is recurring, so investors treat it as the more valuable stream, and a lowered full-year service forecast signals slower growth in the part of the Business that carries the highest multiple. Fortinet (NASDAQ:FTNT) can therefore fall sharply even if the quarter's headline numbers look fine, because the stock is priced on the outlook.

Reddit (NYSE:RDDT): Revenue beat, light guide

Reddit (NYSE:RDDT) reported Q3 results after the close on October 29, 2026. Revenue of USD 895 million rose 53% and beat estimates, EPS was USD 1.40, and daily active users reached 130.3 million, up 12%. The shares nonetheless fell in the after-hours session, by 16% to 17%, and the premarket decline widened to 'over 20%' and about 23% on one page. That premarket range comes from a single page, so it should be treated as provisional. The quarter's results were therefore overshadowed by what management said about the months ahead, which is where investors focused. Strong growth did not protect the stock. The reaction shows how much weight guidance carries when expectations are high. The Q4 revenue guide of USD 1.00 billion to USD 1.03 billion sits below the USD 1.05 billion consensus, even at the top of the range. The more worrying comment came from the CEO, who warned that Q4 daily active visitors could fall by low double digits if search referral traffic keeps declining.

Alphabet (NASDAQ:GOOGL): Smallest of the five, largest by value

Alphabet (NASDAQ:GOOGL) reported Q3 results on October 29, 2026. EPS was USD 2.12, below every consensus figure we found, though those figures conflict at USD 2.94, USD 3.01 and USD 3.02. Revenue of USD 127.58 billion compared with about USD 127.9 billion expected, a small shortfall. Google Cloud revenue was USD 30.7 billion. Search and Advertising growth fell short of hopes, and free Cash Flow was negative. The share price closed at USD 283.70, down about 12.7%. Because the consensus EPS varies by source, the precise size of the miss should be treated as uncertain until a primary filing is checked. The remaining figures come from published market data and need checking against the filing. Search and advertising are the profit engine, so softer growth there matters more than strength in cloud. Negative free cash flow adds a second concern, because heavy spending on data centers absorbs cash before it produces revenue. One summary says roughly USD 500 billion of Market Value was erased and that it was the worst day in over 20 years.

Where Things Stand

The answer is that the five drops share one theme, expectations reset by outlook or spending, but not one cause. ServiceNow (NYSE:NOW) faces software budget worries. Intel (NASDAQ:INTC) gave a weak Q4 guide. Fortinet (NASDAQ:FTNT) has a disputed cause. Reddit (NYSE:RDDT) guided below consensus and warned on traffic. Alphabet (NASDAQ:GOOGL) posted an EPS miss. The ranking mixes closes and premarket snapshots, so it can change at the 9:30 a.m. ET open on October 30, 2026. This is not Investment advice.