The Dow Jones Industrial Average (DJI) and tech-heavy Nasdaq Composite (IXIC) are down triple digits this afternoon, as AI overvaluation concerns grip Wall Street. Not even upbeat results from Palantir Technologies (PLTR) could ease investors' minds, with the S&P 500 Index (SPX) also trading well below breakeven. Predictions of an up to 20% equity market drawback coming from big bank executives added fuel to the fire, as others fear limited market breadth and high tech concentration.

Hertz Global Holdings Inc (Nasdaq: HTZ) shares are blasting out of penny stock territory, last seen up 40% to trade at $6.92. Today's impressive bull gap follows the car rental giant's third-quarter profit, which was the first in eight quarters and beat estimates. The company surpassed revenue expectations as well, citing fleet utilization, controlled spending, and expanded vehicle sales. HTZ has already seen five times the options activity that is typical at this point, with 104,000 calls and 16,000 puts traded so far today. The most popular contract is the December 7.50 call, where new positions are being opened. Year to date, the stock has added more than 90%.

Among the SPX's outperformers today is Yum! Brands Inc (NYSE: YUM). The stock is up 5.7% to trade at $147.33 at last check, following news that the company is exploring strategy options for its Pizza Hut unit, which could include a sale. The company also beat third-quarter estimates. YUM now sports a 9.8% lead for 2025, but familiar overhead pressure at the $150 level remains.

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Zoetis Inc (NYSE: ZTS) shares are at the bottom of the SPX today, down 12.5% to trade at $126.32 at last glance, after the company cut its 2025 outlook due to growth concerns. The equity is brushing off a third-quarter earnings beat, while revenue came in line with estimates. ZTS now carries a steep 22.7% year-to-date deficit.

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