Stocks making the biggest moves midday: PG&E, Dell, GitLab, Credo Technology, Brown-Forman & more

The tape is rewarding names that can translate narrative into near-term cash flow and punishing anything priced for perfection. DELL and EOSE fit the first bucket: one is monetizing AI capex with tangible demand, the other is getting a credibility lift from hyperscaler power procurement. By contrast, PANW, MDB, and SNOW are being treated as valuation-sensitive duration assets; even beats are not enough if the market doubts next-quarter acceleration, which is a classic multiple-compression setup over the next 1-3 months.

GIII looks like a cleaner fundamental short than the software names because the issue is not just sentiment but a likely multi-quarter revenue air pocket and inventory/working-capital drag. That kind of top-line hole tends to force promotional pricing and weaker gross margin before it shows up in sell-side estimates, so downside can persist for 6-18 months unless management can replace the lost licenses faster than expected.

ASTS is the opposite: high beta, low certainty, and likely to trade on analyst coverage and float dynamics more than fundamentals until there is independent proof of scale economics. EOSE benefits from the same scarcity premium around data-center power solutions, but this is still an execution story—financing terms, project timing, and gross margin on the mix matter more than headline megawatts. The consensus may be missing that the current market is not pro-growth or anti-growth; it is simply discriminating between “realized” growth and hoped-for growth.