Jim Cramer, host of Mad Money, reviewed the S&P 500’s strongest and weakest performers in February on Monday.
After an eventful weekend, it seems pretty clear that March is going to be very different from the month of February, but before we can focus on the new world where we’re exchanging rockets with Iran, I want to go over where we were coming from because February was a rough month for the market. While the Dow Jones Industrial Average rallied slightly, up 0.2%, the S&P dropped 0.9%, and the Nasdaq plunged 3.4%.
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Commenting on the 10 biggest decliners in the S&P 500, Cramer said that they tell two important stories. First, he said, enterprise software and professional services companies have been hammered by fears of AI displacement. He called those concerns “somewhat reasonable,” though he added that it is still too early to draw conclusions. Second, he pointed to increasing strain in private credit. He noted that it happened because many firms in that space were overly eager to extend loans to software companies. He went on to say that private credit has now become a separate issue that troubles him even more.
Here’s the bottom line: When you look at the S&P’s top 10 biggest winners from last month, you find a lot of data center suppliers, some energy stocks, a little aerospace, and one med tech play… When you look at the last month’s biggest losers, you see a lot of worries about AI displacement, something we talk about a lot, something that’s even spread to the private credit space, simply because many of these firms have a ton of exposure to the enterprise software cohort that we’re also worried about. Will the losers keep losing? I think March will be very different from February unless peace breaks out with Iran. But if you’re hoping for a rebound from last month’s hardest hit stocks, I think it’s kind of, a little bit of bounce here and then, don’t hold your breath.
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For this article, we compiled a list of 17 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on March 2. We listed the stocks in the order that Cramer mentioned them.
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Jim Cramer’s Takes on These 17 S&P 500 Stocks
17. IQVIA Holdings Inc. (NYSE:IQV)
IQVIA Holdings Inc. (NYSE:IQV) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer called it a “great business,” as he said:
Finally, the ninth-worst performing stock in the S&P 500 was IQVIA, down 22.3%. Now, this is a CRO, a contract research organization. Pharmaceutical companies hire these guys to run their clinical trials. Oh, what a great business. The CROs were all caught up in the AI displacement trade, unfairly, in my opinion. I just don’t see that happening at all. When IQVIA reported in early February, although, the company reported a solid beat, but also gave a weaker than expected full-year forecast.
Now, I know it doesn’t help that RFK Junior’s FDA is taking a skeptical approach toward new drugs, particularly orphan drugs, by the way. Overall, with expectations now reset, I am tempted to say that you’re probably getting a nice buying opportunity here. But this is another company where any potential buyers will be swimming upstream. I like the business very much. I just don’t know whether this is the right stock to play it.
IQVIA Holdings Inc. (NYSE:IQV) provides clinical research and data analytics to the healthcare and life sciences industries. The company assists pharmaceutical and biotech companies by managing clinical trials, providing laboratory services, and tracking sales and patient engagement.
16. Fox Corporation (NASDAQ:FOX)
Fox Corporation (NASDAQ:FOX) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer called the company being one of the worst-performing stocks in the S&P 500 an “anomaly.” He said:
Next up, the eighth-worst-performing in the S&P last month was Fox. Now, this is an anomaly. It’s down 22.6%. Odd. Fox has been the best-performing traditional media company for a while now and reported a stellar quarter in early February, just a colossal earnings beat. But the stock sold off in response, and it’s been sinking lower ever since. I think the sellers might be worried about new competition, as Paramount won the bidding war for Warner Brothers Discovery. Whatever the reason, Fox now trades at just 12 times this year’s earnings estimates, and I think that’s pretty cheap, too cheap.
Fox Corporation (NASDAQ:FOX) produces and distributes news, sports, and entertainment content and manages a studio lot for film and television production. We recently covered Bank of America’s recent downgrade and price revision on the stock. You can read it here.
15. Robinhood Markets, Inc. (NASDAQ:HOOD)
Robinhood Markets, Inc. (NASDAQ:HOOD) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer noted that he is a believer in the stock long term, as he stated:
Then there are the rest of the losers, and some are intriguing. Robinhood Markets is the sixth worst performing in S&P last month, down 24%, nearly 24, largely because it reported a miserable quarter in mid-February, and that was thanks to soft options and crypto trading. Stock fell 17% over the following two sessions. It’s only partially recovered. Now, long-term, I’m a believer in Robinhood. I think they’ve made themselves the preferred trading destination for young people, which means they own the future. But in the present, Robinhood has become totally hostage to crypto and options trading.
Don’t believe it’s hostage to equities and 401Ks. They’ve made a big push into predictions market too, and I’m not thrilled about the idea of Robinhood users having to decide whether to put $10 into NVIDIA or the Seahawks in the Super Bowl. If you want to bet on a tech-focused financial that appeals to young people, I prefer SoFi. But that said, I am turning very bullish on crypto… and Robinhood stock did rally almost three bucks today, I think, because of a turn in crypto. It may be bottoming. Others see it besides me.
Robinhood Markets, Inc. (NASDAQ:HOOD) operates a financial platform that allows users to trade stocks, ETFs, options, cryptocurrencies, and other assets.
14. Ares Management Corporation (NYSE:ARES)
Ares Management Corporation (NYSE:ARES) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer mentioned the stock during the episode and said:
How about the other group of big losers this month? Oh boy, the private equity firms with lots of private credit exposure. Ares Management was the third-worst performing in the S&P 500 for February, down 25.2%. KKR was the seventh worst, down 23.3, and Apollo Global was the 10th worst. It was down 22.3%. Now, these three private equity firms, all of which have a great reputation, reported very different results last month. Ares had a sizable earnings miss. KKR had a small miss. Apollo posted a nice beat.
But their stocks traded in lockstep, as like they were all the same because Wall Street’s convinced that they have too much exposure mostly to software stocks, even though they actually really don’t. When all is said and done, I think these concerns might prove to be overblown. All three of these stocks were up big today. It was kind of like February is over, let’s start buying them. I also don’t feel like trying to be a hero, though, when the private equity space is so hated.
Ares Management Corporation (NYSE:ARES) is an alternative asset manager that provides financing and investment solutions for small to medium-sized companies. The company focuses on private equity, real estate, and direct lending.
13. Workday, Inc. (NASDAQ:WDAY)
Workday, Inc. (NASDAQ:WDAY) is one of the S&P 500 stocks that Jim Cramer shared his take on. Noting the CEO change, Cramer commented:
The fifth-worst performer in February was Workday, an old favorite, but not anymore. It was down 23.8%. This one’s an actual enterprise software company focused on platforms for human resources and finance. Workday was dragged down along with the broader enterprise software cohort in January. Then it got hit again February 9th when we learned that CEO Carl Eschenbach would be stepping down. He’s going to be replaced by… co-founder Aneel Bhusri, who I know well, and I think is terrific.
… You don’t make that change when things are going real well. But don’t forget, Bhusri’s a steady hand. Last week, Workday reported, and though its results were fine, the company also lowered its full-year sales growth forecast. They only issued that previous forecast three months ago. After initially falling further in response to the quarter, though, the stock found its footing and was able to rebound.
Do you know it’s now up almost 14% from its intraday low last Wednesday? So you have to ask, is this a real bottom? Look, Workday’s now selling at an astoundingly low 13 times this year’s earnings estimate, like some dusty old cyclical. You could argue that makes it too cheap to ignore, but the enterprise software stocks are so hated that I’m not sure Wall Street will care. I think it’s probably too soon to start bottom fishing. Maybe it retests the old low. The price-to-earnings multiple continues to shrink.
Workday, Inc. (NASDAQ:WDAY) provides cloud-based applications designed to help organizations manage financial processes, human resources, and business planning.
12. Gartner, Inc. (NYSE:IT)
Gartner, Inc. (NYSE:IT) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer highlighted that the company’s “light” full-year forecast is “getting people worried.” The Mad Money host remarked:
Rather than going in descending order, do you mind if I cover all of the AI victims at once? Another professional services firm, Gartner, was the fourth-worst S&P 500 stock in February. It was down an astounding 25%. This has been a Steady Eddie stock. Gartner’s an IT consultant. Customers come to Gartner for help on figuring out what technology they need and how to set it up. But in a world where AI platforms are ubiquitous, Wall Street figures their specific expertise is less valuable. Shrinkage of the multiple. Just like EPAM and CoStar, Gartner didn’t help its case when it reported a good quarter early last month, but once again, it offered a light full-year forecast, and that is what’s really getting people worried.
Gartner, Inc. (NYSE:IT) is a research and advisory company that provides subscription-based insights, expert access, consulting services, and executive conferences.
11. CoStar Group, Inc. (NASDAQ:CSGP)
CoStar Group, Inc. (NASDAQ:CSGP) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer highlighted the AI fears around the stock, as he commented:
The second biggest loser in February was another victim of AI that I am very concerned about. It’s called CoStar Group, and that was down 27.4%. CoStar offers online marketplace services, data, and analytics for the commercial real estate market. It’s sort of like a Zillow for commercial properties. Their stuff is proprietary, but maybe it becomes a lot less valuable when AI can easily write code to gather the same data. That seems reasonable to me, a real fear. Just like EPAM, CoStar reported a strong fourth quarter report in February, but paired that with a disappointing forecast. So many of these stocks have been crushed by AI worries, and the ones that got hit hardest are like CoStar, where these worries have actually started to hit the numbers instead of just being a possibility down the road.
CoStar Group, Inc. (NASDAQ:CSGP) provides information, analytics, and online marketplace services for the real estate industry.
10. EPAM Systems, Inc. (NYSE:EPAM)
EPAM Systems, Inc. (NYSE:EPAM) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer highlighted why the stock declined significantly, as he remarked:
Let’s talk losers. The S&P’s worst performer for February was EPAM Systems, down 32.4%. Now, this one’s right in the AI blast radius because it’s an outsourced software developer. Companies come to EPAM to help them build software that they can’t or don’t want to create in-house. Unfortunately, these generative AI platforms can do more or less the same job for a lot less money.
Beyond being wrong thematically, things got worse for EPAM specifically when the company reported mid-February. The actual quarterly results were pretty good, but management gave us light sales guidance for both the current quarter and the full-year. The forecast seemed to confirm the market’s broader fears about AI displacement, sending the stock down 70% in a single session, and it never recovered. Now, that’s an example of a company that I am very concerned about.
EPAM Systems, Inc. (NYSE:EPAM) provides digital engineering and software development services, including cloud migration, cybersecurity, and artificial intelligence solutions. It helps its customers with product design, platform modernization, and smart automation.
9. Howmet Aerospace Inc. (NYSE:HWM)
Howmet Aerospace Inc. (NYSE:HWM) is one of the S&P 500 stocks that Jim Cramer shared his take on. Highlighting the bullish aerospace market, Cramer mentioned the company and said:
Finally, in 10th place, there’s Howmet Aerospace again… This stock’s outperformance is nothing new. I’ve loved Howmet for ages, and it is now up more than 800% over the past five years. That includes a 26.2% gain last month. This thing has no quit in it. Nothing surprising here. The aerospace bull market remains fully in place. Really, the whole aerospace defense complex looks terrific right now.
Howmet Aerospace Inc. (NYSE:HWM) provides engineered solutions for aerospace and transportation, including aircraft engine components, fastening systems, structural materials, and forged wheels. Aristotle Growth Equity Fund stated the following regarding Howmet Aerospace Inc. (NYSE:HWM) in its fourth quarter 2025 investor letter:
Howmet Aerospace Inc. (NYSE:HWM) is a leading global provider of advanced engineered products for the aerospace, power generation, and transportation industries, specializing in jet engine components, aerospace fastening systems, airframe structural parts, and forged aluminum wheels. With operations in 19 countries and a workforce of 24,000 employees, the company manufactures most of its products in North America and Europe. Howmet’s business is structured into four segments—Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels—serving key markets such as commercial aerospace, defense, commercial transportation, and institutional sectors.
We believe Howmet Aerospace stands out as a compelling investment opportunity due to its critical role in the aerospace, defense, and industrial markets. As global travel and air freight continue to grow, and major aircraft manufacturers ramp up production to meet surging demand, Howmet is well-positioned to benefit from increasing orders for its essential aircraft components and engine parts. The company is also set to capitalize on rising defense budgets worldwide and the expanding need for industrial gas turbines driven by the growth of artificial intelligence and data centers. While heavy-duty truck production remains weak, Howmet Aerospace maintains strong market share and is poised to benefit from future cyclical recovery. Ongoing capacity expansions further reinforce the company’s ability to capture opportunities across its diversified end markets. Shares are valued at higher multiples compared to their recent historical averages, but we believe this is justified by the company’s strong earnings growth outlook and consistent track record of exceeding expectations.
8. DaVita Inc. (NYSE:DVA)
DaVita Inc. (NYSE:DVA) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer highlighted the reason for the company’s rally in February, as he said:
Now, there were a couple non-data center stories, too. The third-best performer in the S&P last month was DaVita. It’s a medical technology company, best known for its kidney dialysis machines. It had a terrible year in 2025, down 24%, but they reported a terrific quarter last month, and the stock caught fire, which is how it finished February up 43%. Haven’t seen that stock do that well in this long. As was the case with Dell, I think this was a situation where the analysts and the investors simply got too negative about the story. So when it turned out that things weren’t as bad as they thought, the stock soared.
DaVita Inc. (NYSE:DVA) delivers kidney dialysis treatment through outpatient centers, hospitals, and home-based care, supported by laboratory testing and physician services.
7. Dell Technologies Inc. (NYSE:DELL)
Dell Technologies Inc. (NYSE:DELL) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer showed optimistic sentiment toward the company’s stock, as he remarked:
Next up… was another data center play with a fantastic bang-up quarter last week, Dell Technologies, up 29.4%. Now, this stock had been steadily sinking lower throughout the last fall and into the new year as Wall Street thought they’d be crushed by skyrocketing memory and data storage costs. But last week, Dell shocked Wall Street with a huge fourth quarter beat driven by strong AI product sales and far better than expected margins because they were able to pass on their own cost increases to their customer base. Dell’s got a huge backlog, and they have a very bullish outlook for the full-year, it was a great conference call, which is why the stock soared nearly 22% on Friday alone. Very confident.
Dell Technologies Inc. (NYSE:DELL) provides storage systems, servers, networking gear, and consulting services, as well as laptops, desktops, workstations, and accessories.
6. Qnity Electronics, Inc. (NYSE:Q)
Qnity Electronics, Inc. (NYSE:Q) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer believes that being spun off was good for the company, as he said:
In seventh and eighth places, we’ve got two semiconductor-related names, Teradyne, up 32.8%, and Qnity Electronics, up 31.8%. Teradyne is a semiconductor test and measurement play, while Qnity Electronics is a recent DuPont spinoff, another big Charitable Trust holding, makes materials that are used to produce semiconductors, including some of the most advanced chips out there. While many areas of tech are suffering, the semiconductor complex has been doing terrifically.
In fact, Qnity has become one of my favorite new stocks. Long buried within DuPont and underappreciated, this business is finally getting the attention it deserves as an independent entity that’s in the materials business. Last week, the company reported a blowout quarter. It’s been an incredibly successful breakup for Qnity, also has been for DuPont, which has been performing very well since the spinoff. That’s legacy, DuPont.
Qnity Electronics, Inc. (NYSE:Q) provides materials and chemical solutions used in the manufacturing of semiconductors and electronic components.
5. Generac Holdings Inc. (NYSE:GNRC)
Generac Holdings Inc. (NYSE:GNRC) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer commented on the company’s latest earnings and forecast, as he commented:
In sixth place was one we talk about a lot. It’s Generac, up 34% in February. This maker of backup generators and other energy equipment like home solar and battery storage solutions actually turned in a weak fourth quarter early last month, courtesy of a light hurricane season in the fall. But it also offered a strong outlook for 2026, in part, that’s because Generac’s got a fast-growing business selling, yep, industrial-scale generators as backup power for the data centers.
But the stock’s also been helped by the severe winter weather we had throughout, we had much through the country, it was pretty much everywhere. Many areas have more ice and snow… and saw prolonged power outages, likely motivating a lot of people… to say, listen, you know what, we’re going to pull the trigger on home generators, Generac’s bread and butter.
Generac Holdings Inc. (NYSE:GNRC) manufactures and distributes energy technology products, including residential and industrial generators, battery storage systems, smart home solutions, and outdoor power equipment.
4. Ciena Corporation (NYSE:CIEN)
Ciena Corporation (NYSE:CIEN) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer highlighted the company’s return to the broader market index. He said:
In fifth place, we’ve got Ciena, up 38.5% last month. Now, this is an old school networking play that’s seen its growth accelerate dramatically thanks to demand for fiber optic equipment from the data center. On top of that, last month, Ciena benefited from the news that they’d be returning to the S&P 500 after 17 years. They’re taking the spot, by the way, of Dayforce, going private.
Ciena Corporation (NYSE:CIEN) builds networking equipment, including optical systems, routers, and switches, and provides software to manage and automate networks. A caller inquired about the stock during the December 18, 2025, episode, and Cramer replied:
It has moved a great deal. That was an amazing quarter. I think there’s, it was so great. The next quarter is going to be great, too. I’m not going to fight you on it because… this Ciena is much better than the Ciena of 2000, when a lot of us lost money in the first three months of the year, if you remember that.
3. Keysight Technologies, Inc. (NYSE:KEYS)
Keysight Technologies, Inc. (NYSE:KEYS) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer noted the company’s AI-related business. He commented:
Now, we got a bunch of other examples, just looking at the top 10 performers in the S&P 500 last month. In fourth place, there’s this Keysight Technologies, a lot of people are buzzing about Keysight, was up more than 42%. Now, these guys offer electronic design automation software along with test and measurement hardware that customers use to optimize networks and accelerate product design. Keysight’s found a big business with AI data centers helping them run as efficiently as possible. Last month, the company reported a blowout quarter with great guidance.
Keysight Technologies, Inc. (NYSE:KEYS) provides electronic design and test solutions, including specialized software, instrumentation, and systems. The company serves industries like communications, aerospace, and automotive. Madison Investments stated the following regarding Keysight Technologies, Inc. (NYSE:KEYS) in its fourth quarter 2025 investor letter:
The top five contributors for the quarter were Alphabet, Parker-Hannifin, Keysight Technologies, Inc. (NYSE:KEYS), Danaher, and PACCAR. Electronic test and measurement company Keysight Technologies reported strong quarterly results and an even better outlook. Keysight’s end markets have been subdued for the past few years but are now returning to growth.
2. Corning Incorporated (NYSE:GLW)
Corning Incorporated (NYSE:GLW) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer highlighted that the stock is one of the Charitable Trust holdings, as he stated:
February’s second-best performer… is one of the ones that I am most excited about, and that is Corning. It’s a stock we own for the Charitable Trust. It was up 45.7% last year. Now, this company’s a glass specialist. It’s been printing money as it makes fiber optic equipment for the AI data center buildout, and that’s how the stock could quadruple in less than a year. Now, I had my aha moment with Corning after visiting the company’s Harrodsburg, Kentucky, glass plant last September. That trip was mainly about their business supplying glass for the iPhone, but I left Kentucky feeling more excited about the fiber optic opportunity than anything else, and quickly built a sizable position in this one for the Charitable Trust.
Since then, it’s been less than five months, and the Trust has a 96% gain in this situation. Corning’s gradual ascent turned into a fierce rally in late January when the company announced a $6 billion deal to supply fiber for Meta Platforms’ data centers, and then the next day reported a great set of numbers, even better guidance for the current quarter. The stock hasn’t looked back since. I think the big lesson from Corning is that companies supplying components or services for the data center continue to be some of the best stocks in the entire market, even after they’ve moved a great deal.
Corning Incorporated (NYSE:GLW) develops optical fiber, cables, and related hardware for telecommunications, and produces glass substrates for displays used in TVs, computers, and mobile devices. Moreover, it supplies specialty materials, emission control products, and laboratory equipment.
1. Texas Pacific Land Corporation (NYSE:TPL)
Texas Pacific Land Corporation (NYSE:TPL) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer highlighted the stock as February’s best performer in the S&P 500, as he commented:
… Tonight, I want to paint you a picture using the 10 best and worst performers in the S&P from last month. February’s best performer, a name that you might have heard when we went over it a couple of times last year, Texas Pacific Land Corporation. It’s up 50.5%. Now, this is a company that owns a ton of land in Texas and leases that land to energy producers while also selling them water for hydraulic fracturing or fracking. So when the price of crude rises rapidly, like it’s been doing, going from the mid-50s at the end of last year to $67 on Friday before spiking, of course, to $72 today, that’s very good news for Texas Pacific.
All this was in anticipation of some kind of conflict with Iran, and now that the Iranians have reportedly shut down the Strait of Hormuz and keep shooting rockets at the oil-rich Gulf monarchies, anything connected to oil could keep winning. Of course, if peace breaks out, crude’s going to come right back down. At the same time, Texas Pacific has also floated the idea of building data centers on top of the land it owns, although I think it would take a pretty long time for that story to play out, assuming it ever happens. It does have a certain synergy, though, when you consider that the data center engines can be powered by natural gas or diesel, at least for backup.
Texas Pacific Land Corporation (NYSE:TPL) manages large areas of land and oil royalties and provides water sourcing and disposal services. The company generates revenue through land leasing, easement grants, and the sale of raw materials, in addition to its perpetual oil and gas royalty holdings. We recently talked about the stock while discussing energy stocks that gained the most. You can read it here.
While we acknowledge the potential of Texas Pacific Land Corporation (NYSE:TPL) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TPL and that has 100x upside potential, check out our report about this cheapest AI stock.
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