Benzinga·2025-12-18 01:41Market Overview - The stock market faced a turbulent day with significant selloff in tech and AI-related stocks, leading to declines in major indices: Nasdaq down 1.8% to 22,693.32, Dow Jones down nearly 0.5% to 47,885.97, and S&P 500 down 1.16% to 6,721.43 [1] Micron Technology Inc. - Micron Technology shares fell 2.93% to close at $225.71, with an intraday high of $237.45 and a low of $221.69; after-hours trading saw a rise of nearly 8% to $243.74 [2] - The company reported first-quarter earnings with revenue of $13.64 billion, exceeding estimates of $12.83 billion, and adjusted earnings per share of $4.78, above the expected $3.95; this performance was driven by a 20.5% year-over-year revenue increase [3] Medline Inc. - Medline's stock surged 41.38% to close at $41, with trading between $34.92 and $41.25; the company is the largest supplier of medical-surgical products and supply chain solutions, valued at nearly $37 billion [3][4] - The IPO was notable as it opened at $35 from a $29 price, marking the biggest IPO since Rivian in November 2021 [4] Oracle Corporation - Oracle's stock dropped 5.40% to $178.46, with a high of $186.50 and a low of $177.07; the decline followed reports that Blue Owl Capital withdrew from a $10 billion deal for a new data center, raising concerns over Oracle's debt and AI spending [5] - The company is now seeking a new partner to replace Blue Owl for the planned facility [5] ASML Holding - ASML Holding's shares fell by 5.63% to close at $1,015.43, with an intraday high of $1,065.12 and a low of $1,010.01; after-hours trading saw a slight increase of 1.08% to $1,026.35 [6] - The CEO expressed confidence in the company's focus on extreme ultraviolet (EUV) lithography and long-term AI demand, emphasizing the importance of resolution, accuracy, and productivity for chipmakers [7] Arm Holdings Plc - Arm Holdings experienced a 5.38% decline, closing at $114.58, with a high of $121.63 and a low of $112.63; the drop was attributed to reports of China developing a prototype EUV lithography machine, which could challenge Western dominance in AI chip production [8]