5 Things to Watch on
March 13, 2026

The market is attempting a rebound today, up +0.4%, following yesterday's -1.5% sell-off in the S&P 500 amid escalating U.S.-Iran tensions and rising oil prices. Oil remains a key variable to watch, as today's inflation data doesn't yet capture the impact of the war-driven moves in crude.

Palantir (PLTR) CEO Alex Karp told CNBC that AI is providing the U.S. and its allies a critical advantage in the Iran conflict, pointing to PLTR's platform as the only product capable of coordinating combat data between the U.S. and Middle Eastern partners hit by Iranian airstrikes. Karp stopped short of confirming whether Project Maven, PLTR's real-time AI surveillance platform, was used in the killing of Supreme Leader Khamenei, but noted he has "read that it is the core backbone" of U.S. Middle East operations.

Adobe (ADBE) is down over -8% in premarket trading after CEO Shantanu Narayen announced he will step down once a successor is named, ending an 18-year tenure that saw the stock rise more than sixfold. The leadership news overshadowed a strong Q1 print, with revenue of $6.4B and EPS of $6.06 both beating consensus, alongside Q2 guidance of $6.4B in revenue and $5.80-$5.85 in EPS, both ahead of estimates. ADBE shares were already down -23% YTD amid AI disruption concerns, and the CEO uncertainty adds to investor anxiety as the company searches for a successor over the next few months.

Rubrik (RBRK) is up over +2% in premarket trading after closing fiscal 2026 with record net new subscription ARR of $115M, subscription ARR of $1.5B (+34% YoY), and subscription revenue of $365M (+50% YoY), with free cash flow of $238M, more than 10x the prior year. Competitive win rates crossed 90% in Q4 and identity customers surpassed 900. For FY2027, RBRK guided for subscription ARR of $1.8B (+26% YoY), total revenue of $1.6B (+28%), and free cash flow of $270M, with an EPS range of $0.07-$0.27.

SentinelOne (S) fell under -4% in premarket after Q4 results. Morgan Stanley (MS) held Equal Weight, cutting its target to $17 from $18, citing CFO overhang and lack of a near-term catalyst despite ~600 bps of guided FY27 margin expansion and new CFO Sonalee Parekh as potential upside drivers. Wells Fargo (WFC) also held Equal Weight, lowering its target to $14 from $13, noting the FY27 guide leaves limited room for upside. Peers Palo Alto Networks (PANW) and Check Point (CHKP) each rose ~+1%, while Zscaler (ZS) and CrowdStrike (CRWD) were slightly green and Fortinet (FTNT) slightly red.