Crown Castle is pivoting toward aggressive cost-saving measures, announcing plans to eliminate 20% of its workforce. The infrastructure giant also issued a 2026 sales forecast that trailed analyst estimates, causing its shares to slide 7% to $80 following the announcement.

Tech and Logistics Under Pressure

The semiconductor industry faced similar headwinds as supply chain anxieties resurfaced. Qualcomm shares dropped 9.7% to $134.50 after management warned that memory supply constraints would likely stifle its second-quarter outlook. Despite reporting a rise in revenue, British chip designer Arm also saw its stock price fall as the company logged a lower overall profit.

The volatility extended to the logistics sector, where U-Haul reported a swing to a net loss. According to the company report, the downturn was driven by significant fleet depreciation charges and costs related to the disposal of retired rental equipment.

• Arm: Shares fell 9% to $95.40 despite a reported rise in sales.
• U-Haul: The stock declined 4.5% to $56.38 after reporting asset-related losses.
• Qualcomm: Analysts noted the outlook was dampened by anticipated memory supply shortages.