This Week's Biggest Movers: Verra's 74% Crash, Viasat's Defense Win, and Zscaler's SaaSpocalypse Rebound

Snowflake reset software expectations, and the market is now sorting the winners

This week's moves looked dramatic, but the underlying theme was clearer: the market is repricing software and event risk, not just reacting to noise. After Snowflake jumped 36% in premarket trading on a raised annual product revenue forecast, the message was selective, not universal. The rebound is concentrated in names tied to AI demand, while other software and recurring-revenue stories are still being judged on customer stability and execution.

Agilent and Viasat look more fundamental; Zscaler and Verra still carry sharper event risk

Agilent and Viasat look closer to standard fundamental setups. Agilent raised FY26 revenue and EPS guidance, while Viasat won a $437.6 million military satcom contract. Their moves are tied to operating performance and program milestones that can be tracked quarter by quarter.

Zscaler and Verra are different. Verra fell as much as 74% on the termination notice from Avis after the contract was set to end in September 2026. Zscaler rebounded after a more than 30% plunge, but that bounce came alongside a broader software read-through that provided clearer evidence the SaaSpocalypse was overstated.

The practical question is not whether software is back. It is which names offer better returns per unit of risk once sentiment has already reset.

Agilent has the strongest operating evidence among this week's movers

Agilent's move is backed by visible operating leverage. In fiscal Q2, it posted $1.83 billion in revenue, earned $1.49 in non-GAAP EPS, and expanded its non-GAAP operating margin by 130 basis points year over year. Management also raised FY26 revenue growth, margin expansion, and non-GAAP EPS guidance.