Applied Materials, Inc. engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. It operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. The company was incorporated in 1967 and is headquartered in Santa Clara, California.

Applied Materials, Inc. демонстрирует сильные финансовые результаты, однако некоторые мультипликаторы показывают высокие значения по сравнению с медианой отрасли, что может указывать на переоцененность. P/E, P/S и P/B значительно превышают средние показатели, что может повлиять на восприятие стоимости компании. При этом показатели рентабельности, такие как ROE и ROA, остаются выше медианных, что свидетельствует о высокой эффективности управления. Долговая нагрузка находится на уровне медианы, что подтверждает устойчивость компании к финансовым рискам. Дивидендная доходность снизилась, что может настораживать инвесторов. Тем не менее, ожидаемый рост EPS и выручки положительно сказываются на оценке компании. В целом, несмотря на высокие мультипликаторы, сильные операционные показатели и рост прибыли могут поддерживать интерес со стороны инвесторов.

Applied Materials, Inc.

At Holdings Channel, we have reviewed the latest batch of the 49 most recent 13F filings for the 03/31/2026 reporting period, and noticed that Applied Materials, Inc. (Symbol: AMAT) was held by 22 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.
Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen.
Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in AMAT positions, for this latest batch of 13F filers:
In terms of shares owned, we count 7 of the above funds having increased existing AMAT positions from 12/31/2025 to 03/31/2026, with 8 having decreased their positions and 3 new positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the AMAT share count in the aggregate among all of the funds which held AMAT at the 03/31/2026 reporting period (out of the 2,847 we looked at in total). We then compared that number to the sum total of AMAT shares those same funds held back at the 12/31/2025 period, to see how the aggregate share count held by hedge funds has moved for AMAT. We found that between these two periods, funds reduced their holdings by 298,882 shares in the aggregate, from 29,112,835 down to 28,813,953 for a share count decline of approximately -1.03%. The overall top three funds holding AMAT on 03/31/2026 were:
We'll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like Applied Materials, Inc. (Symbol: AMAT).
Also see:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

See Which Recent 13F Filers Hold AMAT

Varonis Systems VRNS came out with first-quarter 2026 earnings of 6 cents per share, in contrast to the Zacks Consensus Estimate of a loss of 5 cents.
VRNS posted revenues of $173.13 million in the first quarter of 2026, beating the Zacks Consensus Estimate by 4.5%. This compares with year-ago revenues of $136.4 million.
Varonis beat the Zacks Consensus Estimates in each of the trailing four quarters, with an average surprise of 116.7%.
Varonis’ strong performance in the first quarter of 2026 can be attributed to SaaS momentum and rising demand for automated compliance products.
Varonis Systems, Inc. Price, Consensus and EPS Surprise
VRNS Revenue Mix Skews Further Toward SaaS
Varonis continued to benefit from its SaaS transition in the first quarter of 2026. SaaS revenues rose to $161.1 million compared with $88.6 million in the year-ago quarter, highlighting the expanding base of cloud-delivered contracts.
Legacy streams continued to contract as customers shifted to the SaaS platform. Term license subscription revenues declined to $6.9 million from $31.5 million a year ago, while maintenance and services revenues fell to $5.2 million from $16.4 million, with management attributing most of the declines to conversions.
Varonis Tightens Profitability Despite Transition Headwinds
Non-GAAP gross profit for the quarter was $134.9 million, translating to a gross margin of 77.9%, down from 80.2% in the prior-year period. The modest compression aligns with the company’s broader SaaS revenue recognition dynamics and ongoing platform evolution.
On the cost side, non-GAAP operating expenses totaled $136.3 million. That produced a non-GAAP operating loss of $1.4 million compared with a $6.5 million loss a year earlier, with operating margin narrowing to negative 0.8% from negative 4.7%.
VRNS Cash Generation Remains Solid, Buybacks Continue
As of March 31, 2026, Varonis had $899.5 million in cash, cash equivalents, marketable securities and short-term deposits, down from $921 million at the end of the previous quarter.
Varonis generated $49.0 million of free cash flow in the first quarter compared with $65.3 million a year ago. The company noted that results included acquisition-related costs, and adjusted free cash flow was $61.6 million for the period.
The company also returned capital via repurchases, buying back 5,355,445 shares at an average price of $24.67 for a total of $132.1 million.
Varonis Leans Into AI Security and Expanding Use Cases
Total SaaS ARR in the reported quarter was $683.2 million, up 69% year over year, reflecting both organic subscription expansion and the ongoing conversion of customers to the SaaS platform. Management reported $11.3 million of conversion ARR in the quarter and finished with about $83.7 million of non-SaaS ARR remaining.
Operationally, management emphasized accelerating demand tied to securing enterprise data for AI adoption, pointing to customer traction in managed detection and response capabilities and AI-related offerings. The company also highlighted early customer interest in newer products added through acquisitions, including Atlas, positioning it as a control plane for AI models, agents and pipelines that complements Varonis’ data security platform.
VRNS Raises Full-Year View and Guides Q2 for Growth
For the second quarter of 2026, Varonis expects revenues to be in the range of $175-$178 million, implying 15-17% year-over-year growth. The Zacks Consensus Estimate is pegged at $176.4 million.
The company projects breakeven to earnings of a penny per diluted share for the second quarter of 2026.
It also expects SaaS ARR growth to be in the range of 24-25% year over year, excluding conversions.
For full-year 2026, management raised its outlook and now expects revenues to be between $731 million and $737 million, implying growth of 17-18% year over year. The Zacks Consensus Estimate is pegged at $728 million.
The company projects total SaaS ARR between $814 million and $845 million, and free cash flow to be in the range of $100-$105 million.
VRNS’ non-GAAP operating income is expected to be in the band of $7-$9 million and non-GAAP earnings between 11 cents and 12 cents. The Zacks Consensus Estimate for 2026 earnings is pegged at 8 cents.
Zacks Rank and Stocks to Consider
Currently, VRNS carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Computer and Technology sector are Arista Networks ADI, Advanced Energy AEIS and Applied Materials AMAT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Arista Networks have gained 17.8% year-to-date. The Zacks Consensus Estimate for ANET’s 2026 earnings is pegged at $3.53 per share, up by a penny over the past 30 days, indicating an increase of 18.5% year over year.
Shares of Advanced Energy have gained 78.8% year-to-date. The Zacks Consensus Estimate for AEIS’ 2026 earnings is pegged at $8.32 per share, down a penny over the past 60 days, indicating an increase of 29.8% year over year.
Applied Materials shares have surged 53.4% year-to-date. The Zacks Consensus Estimate for AMAT’s fiscal 2026 earnings is pegged at $11.10 per share, up 7 cents over the past 30 days, indicating an increase of 17.8% year over year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

VRNS Q1 Earnings Surpass Expectations, Revenues Increase Y/Y

The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.49%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.01%. June E-mini S&P futures (ESM26) fell -0.46%, and June E-mini Nasdaq futures (NQM26) fell -0.94%.
Stock indexes settled lower on Tuesday, led by losses in technology stocks amid concerns that the massive investment in artificial intelligence will not pay off. The Wall Street Journal reported that OpenAI recently failed to meet its goals for new users and sales, undercutting the shares of OpenAI partners and AI infrastructure stocks, including Nvidia, Oracle, Advanced Micro Devices, and CoreWeave.
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On the positive side, Coca-Cola rose more than +3% to limit losses in the Dow Jones Industrials after reporting stronger-than-expected Q1 net revenue.
Stocks bounced from their worst levels on Tuesday amid better-than-expected US economic news. The Conference Board Apr consumer confidence index unexpectedly rose +0.6 to a 4-month high of 92.8, stronger than expectations of a decline to 89.0. Also, the Apr Richmond Fed manufacturing survey rose +3 to a 14-month high of 3, stronger than expectations of 1. In addition, the Feb S&P composite-20 home price index rose +0.90% y/y, weaker than expectations of +1.12% y/y and the smallest pace of increase in more than 2.5 years.
Soaring crude oil prices are boosting inflation expectations, pushing bond yields higher, and weighing on stocks. WTI crude oil jumped to a 2-week high on Tuesday after the New York Times reported that President Trump is not satisfied with Iran’s latest proposal to reopen the Strait of Hormuz and end the war, which includes postponing nuclear negotiations. Mr. Trump has said any deal must include agreements to curb Iran’s nuclear activities. The 10-year T-note yield climbed to a 3-week high of 4.38% on Tuesday. The 2-day FOMC meeting began on Tuesday and concludes on Wednesday, and the Fed is expected to keep monetary policy unchanged.
WTI crude oil prices (CLM26) rose by more than +3% on Tuesday as the US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire. The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis. The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
Kevin Warsh now appears to be on a glide path toward Senate approval as the new Fed Chair after Senator Thom Tillis said on Sunday that he dropped his opposition to the nomination. Mr. Tillis dropped his opposition after the US Justice Department dropped its criminal investigation into the Fed’s overspending on the renovation of its building, in line with Mr. Tillis’ demand. Mr. Tillis views the investigation into Fed Chair Powell as an attempt to force the Fed to cut interest rates. The Senate Banking Committee is due to vote on Mr. Warsh’s appointment this Wednesday and then send the nomination to the full Senate for a vote.
The markets are discounting a 0% chance for a +25 bp FOMC rate hike at the Tue-Wed policy meeting. The markets are expecting the FOMC to leave policy unchanged this week as it awaits further developments in oil prices and inflation.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of Tuesday, 80% of the 172 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled lower on Tuesday. The Euro Stoxx 50 fell to a 2.5-week low and closed down -0.41%. China's Shanghai Composite closed down -0.19%. Japan's Nikkei Stock 225 closed down -1.02%.
Interest Rates
June 10-year T-notes (ZNM6) on Tuesday closed down -5.5 ticks. The 10-year T-note yield rose +1.0 bp to 4.350%. June T-notes fell to a 3-week low on Tuesday, and the 10-year T-note yield rose to a 3-week high of 4.378%. Tuesday’s +3% jump in WTI crude oil prices boosted inflation expectations and weighed on T-notes. The 10-year breakeven inflation rate rose to a 14-month high of 2.472% on Tuesday. Also, better-than-expected US economic news on Tuesday, including Apr consumer confidence and the Apr Richmond Fed manufacturing survey, was bearish for T-note prices.
T-notes recovered from their worst level on Tuesday amid strong demand for the Treasury’s $44 billion auction of 7-year T-notes that had a bid-to-cover ratio of 2.51, above the 10-auction average of 2.50.
European government bond yields moved higher on Tuesday. The 10-year German bund yield rose to a 2-week high of 3.086% and finished up +3.4 bp to 3.067%. The 10-year UK gilt yield climbed to a 1-month high of 5.028% and finished up +3.4 bp to 5.006%.
The ECB's Mar 1-year CPI expectations rate rose to 4.0% from 2.5% in Feb, stronger than expectations of 2.8% and the highest figure in nearly 2.5 years. The Mar 3-year CPI expectations rate rose to 3.0% from 2.5% in Feb, stronger than expectations of 2.6% and the highest figure in three years.
Swaps are discounting an 11% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
AI infrastructure stocks and OpenAI partners retreated on Tuesday after the Wall Street Journal reported that OpenAI recently missed its own revenue and new-user targets. ARM Holdings Plc (ARM) closed down more than -7% to lead losers in the Nasdaq 100, and Applied Digital (APLD), Applied Materials (AMAT), Sandisk (SNDK), CoreWeave (CRWV), and Vertiv Holdings (VRT) closed down more than -5%. Also, Broadcom (AVGO), Oracle (ORCL), and KLA Corp (KLAC) closed down more than -4%, and Advanced Micro Devices (AMD), Micron Technology (MU), Marvell Technology (MRVL), ASML Holding NV (ASML), Seagate Technology Holdings Plc (STX), and Lam Research (LRCX) closed down more than -3%. In addition, GE Vernova (GEV) and Western Digital (WDC) closed down more than -2%.
Mining stocks fell on Tuesday, amid the sell-off in gold, silver, and copper prices. Newmont Corp (NEM) and Coeur Mining (CDE) closed down more than -5%, and Anglogold Ashanti (AU), Southern Copper (SCCO), and Hecla Mining (HL) closed down more than -4%. Also, Barrick Mining (B) and Freeport McMoRan (FCX) closed down more than -3%.
Packaging stocks rose on Tuesday after Citigroup said Smurfit WestRock would raise US containerboard prices by $50 per ton, effective June 1. Packaging Corp of America (PKG) and International Paper (IP) closed up by more than +4%, and Smurfit Westrock Plc (SW) closed up more than +1%.
Rambus (RMBS) closed down more than -20% after reporting Q1 EPS of 55 cents, weaker than the consensus of 65 cents.
Spotify Technology SA (SPOT) closed down more than -12% after reporting Q1 operating income of $737 million, below the consensus of $787 million.
Alexandria Real Estate Equities (ARE) closed down more than -11% to lead losers in the S&P 500 after reporting Q1 revenue of $671.0 million, weaker than the consensus of $692.7 million.
Qiagen NV (QGEN) closed down more than -10% after forecasting full-year CER net sales of up +1% to +2%, well below the consensus of +4.62%.
Pentair Plc (PNR) closed down more than -10% after forecasting Q2 adjusted EPS of $1.47 to $1.50, below the consensus of $1.50.
Corning (GLW) closed down more than -8% after forecasting Q2 core EPS of 73 cents to 77 cents, the midpoint below the consensus of 76 cents.
Sherwin-Williams (SHW) closed down more than -3% to lead losers in the Dow Jones Industrials after forecasting full-year adjusted EPS of $11.50 to $11.90, the midpoint below the consensus of $11.72, and saying it sees little chance of end-market recovery this year due to weak consumer sentiment.
United Parcel Service (UPS) closed down more than -3% after leaving its full-year financial guidance unchanged despite reporting better-than-expected Q1 sales and profit.
Centene (CNC) closed up more than +13% to lead gainers in the S&P 500 after reporting Q1 revenue of $49.94 billion, above the consensus of $47.41 billion, and raising its full-year revenue forecast to $187.5 billion to $191.5 billion from $186.5 billion to $190.5 billion, the midpoint above the consensus of $188.79 billion.
Franklin Resources (BEN) closed up more than +6% after reporting Q2 adjusted EPS of 71 cents, stronger than the consensus of 55 cents.
Nucor (NUE) closed up more than +4% after reporting Q1 net sales of $9.50 billion, stronger than the consensus of $8.87 billion.
Coca-Cola (KO) closed up more than +3% to lead gainers in the Dow Jones Industrials after reporting Q1 net revenue of $12.50 billion, better than the consensus of $12.25 billion.
Dynatrace (DT) closed up more than +1% after the Wall Street Journal reported that Starboard Value LP took a stake in the company and is pushing the company to better capitalize on the shift to AI.
Earnings Reports(4/29/2026)
AbbVie Inc (ABBV), Aflac Inc (AFL), Align Technology Inc (ALGN), Allstate Corp/The (ALL), Alphabet Inc (GOOGL), Amazon.com Inc (AMZN), American Water Works Co Inc (AWK), Amphenol Corp (APH), Automatic Data Processing Inc (ADP), Biogen Inc (BIIB), Bunge Global SA (BG), Carvana Co (CVNA), CH Robinson Worldwide Inc (CHRW), Chipotle Mexican Grill Inc (CMG), Cognizant Technology Solutions (CTSH), eBay Inc (EBAY), EMCOR Group Inc (EME), Entergy Corp (ETR), Equinix Inc (EQIX), Everest Group Ltd (EG), Ford Motor Co (F), Garmin Ltd (GRMN), GE HealthCare Technologies Inc (GEHC), Generac Holdings Inc (GNRC), General Dynamics Corp (GD), Humana Inc (HUM), IDEX Corp (IEX), Invitation Homes Inc (INVH), KLA Corp (KLAC), Lennox International Inc (LII), Meta Platforms Inc (META), MGM Resorts International (MGM), Microsoft Corp (MSFT), Mid-America Apartment Communities (MAA), Old Dominion Freight Line Inc (ODFL), O'Reilly Automotive Inc (ORLY), Phillips 66 (PSX), QUALCOMM Inc (QCOM), Regency Centers Corp (REG), Regeneron Pharmaceuticals Inc (REGN), SBA Communications Corp (SBAC), Stanley Black & Decker Inc (SWK), Tyler Technologies Inc (TYL), UDR Inc (UDR), Verisk Analytics Inc (VRSK), VICI Properties Inc (VICI), Vulcan Materials Co (VMC), Yum! Brands Inc (YUM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Fall on AI Jitters and Surging Crude Oil Prices

Key Points
A helium shortage reveals semiconductor supply chains are still vulnerable.
Recycling, redesign, and diversification efforts help, but none solve helium dependence near term.
The semiconductor industry thought it had fixed its supply chain problem after the early COVID-era chip shortage. It had not. What it had fixed was its exposure to single-fabricator risk. What it hadn't fixed, and what the Strait of Hormuz crisis has now exposed, is its near-total dependence on Qatar for roughly 30% of the global helium supply.
Helium is a byproduct of LNG processing that is used in semiconductor manufacturing. Qatar's Ras Laffan facility -- the world's largest single helium production site -- has been largely offline since early March 2026 following Iranian attacks and an effective blockade of the Strait. Because helium is produced alongside LNG, when LNG tanks fill up and production stops, helium production stops too. When (and if) the Strait reopens, it is expected to take at least two additional months for helium supply to normalize.
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This is not a problem the semiconductor industry can quickly manufacture its way out of.
Why there isn't a substitute for helium
Helium's combination of properties makes it irreplaceable for EUV (extreme ultraviolet) lithography, wafer cooling, and mass spectrometry leak detection. No viable alternative exists for these applications.
South Korea, which imported roughly 64% of its helium from Qatar in 2025, is particularly exposed, meaning Samsung and SK Hynix -- the world's largest producers of the high-bandwidth memory (HBM) chips that power Nvidia's (NASDAQ: NVDA) Blackwell GPUs -- face the most direct near-term production risk.
There are three real responses underway, and investors should understand their limits clearly.
Addressing the issue
First is Helium recycling. Most advanced fabrication companies (fabs) now run on-site helium recovery systems from Linde (NASDAQ: LIN), L'Air Liquide (OTC: AIQUF), and Air Products and Chemicals (NYSE: APD) that can recapture 90% to 95% of the helium used in certain processes. The flaw: Leak-detection helium is essentially unrecoverable, and even a 5% loss at high consumption volumes adds up fast. The industry is already running lean.
Second is tool redesign. ASML (NASDAQ: ASML) and Applied Materials (NASDAQ: AMAT) are designing next-generation tools to use less helium in certain processes, substituting nitrogen for non-critical cooling. These are incremental improvements measured in percentage points -- not a structural fix.
Third is supply diversification. New helium projects are under development in Canada, Tanzania (Helium One Global's Rukwa project), and Minnesota (Pulsar Helium's Topaz project). These are years away from meaningful production. Taiwan Semiconductor Manufacturing (NYSE: TSM) reportedly locked in multiyear helium supply contracts as part of its Arizona fab planning.
What this means for investors
Linde is the most direct beneficiary. As the world's largest industrial gas company and a major supplier of on-site helium recovery infrastructure, rising helium prices and growing demand for recycling systems are genuine revenue tailwinds. Air Products and L'Air Liquide sit in a similar position.
TSMC has the greatest near-term buffer among chipmakers thanks to multiyear supply contracts and reported inventory of four to six months. Nvidia appears relatively insulated in the short term, with CEO Jensen Huang publicly downplaying the near-term risk. But if helium constraints slow HBM production at Samsung and SK Hynix, Nvidia's ability to ship Blackwell GPUs -- which require HBM -- becomes a downstream bottleneck.
The structural lesson here is not that AI is in trouble. It is that the industry's supply chain resilience, for all the investment in fab diversification, has a backdoor that runs through a single waterway. The companies that can hedge that exposure -- industrial gas infrastructure providers and software-layer AI companies that consume rather than fabricate chips -- are the ones best positioned, regardless of whether the Strait reopens next month or next year.
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Micah Zimmerman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends ASML, Applied Materials, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Linde. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

War or Peace, the Artificial Intelligence (AI) Chip Industry Just Learned Depending on One Route for 30% of Its Helium Is Risky

The S&P 500 Index ($SPX) (SPY) today is down -0.66%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.30%. June E-mini S&P futures (ESM26) are down -0.63%, and June E-mini Nasdaq futures (NQM26) are down -1.27%.
Stock indexes are under pressure today, led by losses in technology stocks amid concerns that the massive investment in artificial intelligence will not pay off. The Wall Street Journal reported that OpenAI recently failed to meet its goals for new users and sales, undercutting the shares of OpenAI partners and AI infrastructure stocks, including Nvidia, Oracle, Advanced Micro Devices, and CoreWeave.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the positive side, Coca-Cola is up more than +6% to keep the Dow Jones Industrials in positive territory after reporting stronger-than-expected Q1 net revenue.
Also, better-than-expected US economic news today is supportive of stocks. The Conference Board Apr consumer confidence index unexpectedly rose +0.6 to a 4-month high of 92.8, stronger than expectations of a decline to 89.0. Also, the Apr Richmond Fed manufacturing survey rose +3 to a 14-month high of 3, stronger than expectations of 1. In addition, the Feb S&P composite-20 home price index rose +0.90% y/y, weaker than expectations of +1.12% y/y and the smallest pace of increase in more than 2.5 years.
Soaring crude oil prices are also boosting inflation expectations, pushing bond yields higher and weighing on stocks. WTI crude oil jumped to a 2-week high today after the New York Times reported that President Trump is not satisfied with Iran’s latest proposal to reopen the Strait of Hormuz and end the war, which includes postponing nuclear negotiations. Mr. Trump has said any deal must include agreements to curb Iran’s nuclear activities. The 10-year T-note yield climbed to a 3-week high of 4.38% today ahead of the start of the 2-day FOMC meeting, where the Fed is expected to keep monetary policy unchanged.
WTI crude oil prices (CLM26) are up by more than +3% today as the US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire. The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis. The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
Kevin Warsh now appears to be on a glide path toward Senate approval as the new Fed Chair after Senator Thom Tillis said on Sunday that he dropped his opposition to the nomination. Mr. Tillis dropped his opposition after the US Justice Department dropped its criminal investigation into the Fed’s overspending on the renovation of its building, in line with Mr. Tillis’ demand. Mr. Tillis views the investigation into Fed Chair Powell as an attempt to force the Fed to cut interest rates. The Senate Banking Committee is due to vote on Mr. Warsh’s appointment this Wednesday and then send the nomination to the full Senate for a vote.
The markets are discounting a 0% chance for a +25 bp FOMC rate hike at the Tue-Wed policy meeting. The markets are expecting the FOMC to leave policy unchanged this week as it awaits further developments in oil prices and inflation.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of today, 80% of the 150 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets are lower today. The Euro Stoxx 50 fell to a 2.5-week low and is down -0.26%. China's Shanghai Composite closed down -0.19%. Japan's Nikkei Stock 225 closed down -1.02%.
Interest Rates
June 10-year T-notes (ZNM6) today are down -8 ticks. The 10-year T-note yield is up +2.8 bp to 4.368%. June T-notes fell to a 3-week low today, and the 10-year T-note yield rose to a 3-week high of 4.378%. Today’s +3% jump in WTI crude oil prices is boosting inflation expectations and weighing on T-notes. The 10-year breakeven inflation rate rose to a 14-month high of 2.472% today. Also, better-than-expected US economic news today on Apr consumer confidence and the Apr Richmond Fed manufacturing survey were bearish for T-note prices. In addition, supply pressures are undercutting T-note prices, as the Treasury will auction $30 billion of 2-year floating rate notes and $44 billion of 7-year T-notes later today.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 2-week high of 3.086% and is up +4.0 bp to 3.073%. The 10-year UK gilt yield climbed to a 1-month high of 5.028% and is up +4.4 bp to 5.016%.
The ECB's Mar 1-year CPI expectations rate rose to 4.0% from 2.5% in Feb, stronger than expectations of 2.8% and the highest figure in nearly 2.5 years. The Mar 3-year CPI expectations rate rose to 3.0% from 2.5% in Feb, stronger than expectations of 2.6% and the highest figure in three years.
Swaps are discounting a 13% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
AI infrastructure stocks and OpenAI partners are retreating today after the Wall Street Journal reported that OpenAI recently missed its own revenue and new-user targets. ARM Holdings Plc (ARM) is down more than -8% to lead losers in the Nasdaq 100, and Applied Digital (APLD), Sandisk (SNDK), and Vertiv Holdings (VRT) are down more than -6%. Also, Advanced Micro Devices (AMD), Applied Materials (AMAT), Micron Technology (MU), CoreWeave (CRWV), GE Vernova (GEV), and Lam Research (LRCX) are down more than -5%, and Western Digital (WDC), ASML Holding NV (ASML), Marvell Technology (MRVL), Seagate Technology Holdings Plc (STX), Broadcom (AVGO), Oracle (ORCL), and KLA Corp (KLAC) are down more than -4%. In addition, Nvidia (NVDA) is down more than -3% to lead losers in the Dow Jones Industrials.
Mining stocks are retreating today with the sell-off in gold, silver, and copper prices. Newmont Corp (NEM), Coeur Mining (CDE), and Anglogold Ashanti (AU) are down more than -5%, and Hecla Mining (HL), Barrick Mining (B), and Southern Copper (SCCO) are down more than -4%. Also, Freeport McMoRan (FCX) is down more than -3%.
Rambus (RMBS) is down more than -24% after reporting Q1 EPS of 55 cents, weaker than the consensus of 65 cents.
Alexandria Real Estate Equities (ARE) is down more than -10% to lead losers in the S&P 500 after reporting Q1 revenue of $671.0 million, weaker than the consensus of $692.7 million.
Spotify Technology SA (SPOT) is down more than -10% after reporting Q1 operating income of $737 million, below the consensus of $787 million.
Qiagen NV (QGEN) is down more than -9% after forecasting full-year CER net sales of up +1% to +2%, well below the consensus of +4.62%.
Corning (GLW) is down more than -8% after forecasting Q2 core EPS of 73 cents to 77 cents, the midpoint below the consensus of 76 cents.
Pentair Plc (PNR) is down more than -7% after forecasting Q2 adjusted EPS of $1.47 to $1.50, below the consensus of $1.50.
United Parcel Service (UPS) is down more than -3% after leaving its full-year financial guidance unchanged despite reporting better-than-expected Q1 sales and profit.
Centene (CNC) is up more than +7% to lead gainers in the S&P 500 after reporting Q1 revenue of $49.94 billion, above the consensus of $47.41 billion, and raising its full-year revenue forecast to $187.5 billion to $191.5 billion from $186.5 billion to $190.5 billion, the midpoint above the consensus of $188.79 billion.
Coca-Cola (KO) is up more than +6% to lead gainers in the Dow Jones Industrials after reporting Q1 net revenue of $12.50 billion, better than the consensus of $12.25 billion.
Dynatrace (DT) is up more than +3% after the Wall Street Journal reported that Starboard Value LP took a stake in the company and is pushing the company to better capitalize on the shift to AI.
S&P Global Inc (SPGI) is up more than +3% after reporting Q1 revenue of $4.17 billion, above the consensus of $4.07 billion.
Nucor (NUE) is up more than +3% after reporting Q1 net sales of $9.50 billion, stronger than the consensus of $8.87 billion.
Franklin Resources (BEN) is up more than +2% after reporting Q2 adjusted EPS of 71 cents, stronger than the consensus of 55 cents.
Earnings Reports(4/28/2026)
Allegion plc (ALLE), American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Avery Dennison Corp (AVY), Booking Holdings Inc (BKNG), BXP Inc (BXP), Centene Corp (CNC), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Ecolab Inc (ECL), Edison International (EIX), Equity Residential (EQR), Essex Property Trust Inc (ESS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), F5 Inc (FFIV), Fair Isaac Corp (FICO), FirstEnergy Corp (FE), Franklin Resources Inc (BEN), General Motors Co (GM), Hilton Worldwide Holdings Inc (HLT), Incyte Corp (INCY), Ingersoll Rand Inc (IR), Invesco Ltd (IVZ), Kimberly-Clark Corp (KMB), Mondelez International Inc (MDLZ), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), ONEOK Inc (OKE), PACCAR Inc (PCAR), Pentair PLC (PNR), PPG Industries Inc (PPG), Robinhood Markets Inc (HOOD), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Starbucks Corp (SBUX), Sysco Corp (SYY), Teradyne Inc (TER), T-Mobile US Inc (TMUS), United Parcel Service Inc (UPS), Veralto Corp (VLTO), Visa Inc (V), Waste Management Inc (WM), Welltower Inc (WELL), Xylem Inc/NY (XYL), Zimmer Biomet Holdings Inc (ZBH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AI Fears and Surging Crude Oil Prices Weigh on Stocks

The S&P 500 Index ($SPX) (SPY) today is down -0.38%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.78%. June E-mini S&P futures (ESM26) are down -0.44%, and June E-mini Nasdaq futures (NQM26) are down -0.83%.
Stock indexes are mostly lower today, led by losses in technology stocks amid concerns that the massive investment in artificial intelligence will not pay off. The Wall Street Journal reported that OpenAI recently failed to meet its goals for new users and sales, undercutting the shares of OpenAI partners and AI infrastructure stocks, including Nvidia, Oracle, Advanced Micro Devices, and CoreWeave.
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On the positive side, Coca-Cola is up more than +5% to lead the Dow Jones Industrials higher after reporting stronger-than-expected Q1 net revenue.
Soaring crude oil prices are also boosting inflation expectations, pushing bond yields higher and weighing on stocks. WTI crude oil jumped to a 2-week high today after the New York Times reported that President Trump is not satisfied with Iran’s latest proposal to reopen the Strait of Hormuz and end the war, which includes postponing nuclear negotiations. Mr. Trump has said any deal must include agreements to curb Iran’s nuclear activities. The 10-year T-note yield climbed to a 3-week high of 4.38% today ahead of the start of the 2-day FOMC meeting, where the Fed is expected to keep monetary policy unchanged.
WTI crude oil prices (CLM26) are up by more than +3% today as the US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire. The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis. The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
Kevin Warsh now appears to be on a glide path toward Senate approval as the new Fed Chair after Senator Thom Tillis said on Sunday that he dropped his opposition to the nomination. Mr. Tillis dropped his opposition after the US Justice Department dropped its criminal investigation into the Fed’s overspending on the renovation of its building, in line with Mr. Tillis’ demand. Mr. Tillis views the investigation into Fed Chair Powell as an attempt to force the Fed to cut interest rates. The Senate Banking Committee is due to vote on Mr. Warsh’s appointment this Wednesday and then send the nomination to the full Senate for a vote.
The markets are discounting a 0% chance for a +25 bp FOMC rate hike at the Tue-Wed policy meeting. The markets are expecting the FOMC to leave policy unchanged this week as it awaits further developments in oil prices and inflation.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of today, 80% of the 150 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets are lower today. The Euro Stoxx 50 fell to a 2.5-week low and is down -0.35%. China's Shanghai Composite closed down -0.19%. Japan's Nikkei Stock 225 closed down -1.02%.
Interest Rates
June 10-year T-notes (ZNM6) today are down -7 ticks. The 10-year T-note yield is up +2.2 bp to 4.362%. June T-notes fell to a 3-week low today, and the 10-year T-note yield rose to a 3-week high of 4.378%. Today’s +3% jump in WTI crude oil prices is boosting inflation expectations and weighing on T-notes. The 10-year breakeven inflation rate rose to a 14-month high of 2.472% today. Also, supply pressures are undercutting T-note prices, as the Treasury will auction $30 billion of 2-year floating rate notes and $44 billion of 7-year T-notes later today.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 2-week high of 3.086% and is up +4.3 bp to 3.076%. The 10-year UK gilt yield climbed to a 1-month high of 5.028% and is up +3.8 bp to 5.010%.
The ECB's Mar 1-year CPI expectations rate rose to 4.0% from 2.5% in Feb, stronger than expectations of 2.8% and the highest figure in nearly 2.5 years. The Mar 3-year CPI expectations rate rose to 3.0% from 2.5% in Feb, stronger than expectations of 2.6% and the highest figure in three years.
Swaps are discounting a 13% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
AI infrastructure stocks and OpenAI partners are retreating today after the Wall Street Journal reported that OpenAI recently missed its own revenue and new-user targets. ARM Holdings Plc (ARM) is down more than -6% to lead losers in the Nasdaq 100, and Applied Materials (AMAT) is down more than -5%. Also, Lam Research and KLA Corp (KLAC) are down more than -4%, and Seagate Technology Holdings Plc (STX), Advanced Micro Devices (AMD), Broadcom (AVGO), Western Digital (WDC), ASML Holding NV (ASML), Marvell Technology (MRVL), Oracle (ORCL), and CoreWeave (CRWV) are down more than -3%. In addition, Nvidia (NVDA) is down more than -2% to lead losers in the Dow Jones Industrials, and Vertiv Holdings (VRT), Qualcomm (QCOM), Applied Digital (APLD), and GE Vernova (GEV) are down more than -2%.
Rambus (RMBS) is down more than -17% after reporting Q1 EPS of 55 cents, weaker than the consensus of 65 cents.
Alexandria Real Estate Equities (ARE) is down more than -13% to lead losers in the S&P 500 after reporting Q1 revenue of $671.0 million, weaker than the consensus of $692.7 million.
Spotify Technology SA (SPOT) is down more than -10% after reporting Q1 operating income of $737 million, below the consensus of $787 million.
Pentair Plc (PNR) is down more than -9% after forecasting Q2 adjusted EPS of $1.47 to $1.50, below the consensus of $1.50.
Qiagen NV (QGEN) is down more than -7% after forecasting full-year CER net sales of up +1% to +2%, well below the consensus of +4.62%.
Corning (GLW) is down more than -5% after forecasting Q2 core EPS of 73 cents to 77 cents, the midpoint below the consensus of 76 cents.
United Parcel Service (UPS) is down more than -4% after leaving its full-year financial guidance unchanged despite reporting better-than-expected Q1 sales and profit.
Centene (CNC) is up more than +6% to lead gainers in the S&P 500 after reporting Q1 revenue of $49.94 billion, above the consensus of $47.41 billion, and raising its full-year revenue forecast to $187.5 billion to $191.5 billion from $186.5 billion to $190.5 billion, the midpoint above the consensus of $188.79 billion.
Coca-Cola (KO) is up more than +5% to lead gainers in the Dow Jones Industrials after reporting Q1 net revenue of $12.50 billion, better than the consensus of $12.25 billion.
LendingClub (LC) is up more than +5% after reporting Q1 new originations of $2.67 billion, stronger than the consensus of $2.63 billion.
Dynatrace (DT) is up more than +4% after the Wall Street Journal reported that Starboard Value LP took a stake in the company and is pushing the company to better capitalize on the shift to AI.
Crane Co. (CR) is up more than +1% after reporting Q1 net sales of $696.4 million, better than the consensus of $667.3 million.
Nucor (NUE) is up more than +1% after reporting Q1 net sales of $9.50 billion, stronger than the consensus of $8.87 billion.
Earnings Reports(4/28/2026)
Allegion plc (ALLE), American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Avery Dennison Corp (AVY), Booking Holdings Inc (BKNG), BXP Inc (BXP), Centene Corp (CNC), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Ecolab Inc (ECL), Edison International (EIX), Equity Residential (EQR), Essex Property Trust Inc (ESS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), F5 Inc (FFIV), Fair Isaac Corp (FICO), FirstEnergy Corp (FE), Franklin Resources Inc (BEN), General Motors Co (GM), Hilton Worldwide Holdings Inc (HLT), Incyte Corp (INCY), Ingersoll Rand Inc (IR), Invesco Ltd (IVZ), Kimberly-Clark Corp (KMB), Mondelez International Inc (MDLZ), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), ONEOK Inc (OKE), PACCAR Inc (PCAR), Pentair PLC (PNR), PPG Industries Inc (PPG), Robinhood Markets Inc (HOOD), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Starbucks Corp (SBUX), Sysco Corp (SYY), Teradyne Inc (TER), T-Mobile US Inc (TMUS), United Parcel Service Inc (UPS), Veralto Corp (VLTO), Visa Inc (V), Waste Management Inc (WM), Welltower Inc (WELL), Xylem Inc/NY (XYL), Zimmer Biomet Holdings Inc (ZBH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Pressured by AI Fears and Soaring Crude Oil Prices

For Immediate Release
Chicago, IL – April 28, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Amazon.com, Inc. AMZN, Intel Corp. INTC, Applied Materials, Inc. AMAT, and Perma-Pipe International Holdings, Inc. PPIH.
Here are highlights from Monday’s Analyst Blog:
Top Analyst Reports for Amazon, Intel and AMD
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Amazon.com, Inc., Intel Corp. and Applied Materials, Inc., as well as two micro-cap stocks Perma-Pipe International Holdings, Inc.. The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Pre-Markets Sluggish Ahead of a Busy Week
Today's Featured Research Reports
Amazon's shares have outperformed the Zacks Internet - Commerce industry over the past six months (+15.2% vs. +4.1%). The company's international expansion and diversification across e-commerce, AWS cloud services, advertising, and streaming create multiple revenue streams while reducing concentration risk.
For 1Q'26, Amazon guided revenue of $173.5-$178.5 billion and operating income of $16.5-$21.5 billion, with a $1 billion year-over-year cost increase from Amazon LEO satellites. AI integration across operations enhances personalization, logistics, and AWS offerings, strengthening competitive positioning.
However, substantial capital expenditure requirements for AI infrastructure and data centers strain financial resources and compress margins. The company's expanding debt burden reduces financial flexibility amid rising interest rates. Intensifying competition from Walmart, Microsoft Azure and Google Cloud is an overhang.
(You can read the full research report on Amazon here >>>)
Shares of Intel have outperformed the Zacks Semiconductor - General industry over the past six months (+102.7% vs. +9.1%). The company reported strong first-quarter 2026 results, with both adjusted earnings and revenues beating the Zacks Consensus Estimate. Its AI solutions will benefit the semiconductor ecosystem by reducing costs, improving performance, and enabling a scalable, open AI environment. Intel Xeon 6 CPUs will power Google's Cloud data centers for ML workloads and fast-response applications.
Intel is also expanding into the rapidly growing Edge AI landscape with Intel Core Ultra Series 3 processors, which offer significantly better large language model performance, video analytics, and higher throughput on vision language action models.
However, intensifying competition from AMD in the PC market is hindering growth. High debt levels remain a concern. Latent U.S.-China geopolitical tensions and the war in the Middle East are likely to impact prospects.
(You can read the full research report on Intel here >>>)
Applied Materials' shares have outperformed the Zacks Electronics - Semiconductors industry over the past six months (+80.5% vs. +27.1%). The company is benefiting from strength in the Semiconductor Systems, owing to a rebound in the semiconductor industry, particularly in the foundry and logic space.
Consistent progress in the services is aiding Applied Global Services' performance. Solid momentum in the subscription and display businesses is a plus. Its strength in IoT, Communications, Auto, Power and Sensors (ICAPS) is likely to continue aiding its position in the semiconductor industry. Its diversified portfolio remains its key growth driver.
However, increasing U.S.-China tensions and export restrictions on semiconductor manufacturing equipment may undermine its near-term growth prospects. Rising operating costs and intense competition remain other major concerns.
(You can read the full research report on Applied Materials here >>>)
Shares of Perma-Pipe International have outperformed the Zacks Steel - Pipe and Tube industry over the past year (+155.4% vs. +91.5%). This microcap company with a market capitalization of $260.76 million delivered strong, volume-driven earnings growth in FY25, with revenue rising to $210.9 million and net income nearly doubling. Growth prospects are strengthening with increasing exposure to AI-driven data center infrastructure, adding a structurally growing and less cyclical end market alongside its core energy and district heating business.
Perma-Pipe International's diversified global footprint (70%+ international revenues) continues to support project wins across the Middle East, North America, and Canada, enabling steady execution across multiple infrastructure cycles. Liquidity has improved, supported by higher cash, working capital expansion, and refinancing.
However, key risks include internal control weaknesses and reliance on cost-to-complete accounting, which may affect earnings quality. A backlog decline could indicate some moderation in future growth. Valuation remains attractive relative to peers.
(You can read the full research report on Perma-Pipe International here >>>)
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
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The Zacks Analyst Blog Highlights Amazon.com, Intel, Applied Materials and Perma-Pipe International

In early trading on Tuesday, shares of Workday topped the list of the day's best performing components of the Nasdaq 100 index, trading up 2.5%. Year to date, Workday has lost about 43.7% of its value.
And the worst performing Nasdaq 100 component thus far on the day is Arm Holdings, trading down 6.5%. Arm Holdings is showing a gain of 84.7% looking at the year to date performance.
Two other components making moves today are Applied Materials, trading down 5.2%, and Intuit, trading up 2.5% on the day.
VIDEO: Nasdaq 100 Movers: ARM, WDAY
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nasdaq 100 Movers: ARM, WDAY

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.12%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.01%. June E-mini S&P futures (ESM26) rose +0.14%, and June E-mini Nasdaq futures (NQM26) fell -0.02%.
Stock indexes settled mostly higher on Monday, with the S&P 500 and Nasdaq 100 posting new all-time highs. Optimism that demand for AI-infrastructure will remain strong and continue to power technology earnings boosted stocks on Monday. The megacap technology stocks of Alphabet, Apple, Amazon.com, Microsoft, and Meta Platforms all report quarterly earnings this week.
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The broader market saw some downward pressure from Monday’s +2% rally in WTI crude oil prices, which raised inflation expectations. Crude oil prices jumped after President Trump on Saturday canceled planned negotiations with Iran in Pakistan, saying Iran "offered a lot, but not enough" to continue negotiations. Iranian President Pezeshkian said Iran won't enter "imposed negotiations under threats or blockade." Secretary of State Rubio said Iran still wants to retain control of the Strait of Hormuz, and that was "unacceptable" to the US.
However, AI-infrastructure stocks found support on Monday after TF International Securities said that Qualcomm is working with OpenAI and Taiwan’s MediaTek to develop smartphone processors. Also, Micron Technology and SanDisk both received buy ratings from Melius Research. In addition, strength in health insurers was a positive factor for the market.
Stock indexes found support from the Axios report that Iran has given the US a new proposal to reopen the Strait of Hormuz and end the war, which includes postponing nuclear negotiations. The plan calls for extending the ceasefire so the parties can work toward a permanent end to the war, and nuclear talks would come later, only after a US blockade of the strait is lifted. The White House said Monday afternoon that President Trump is discussing the proposal with national security and foreign policy officials.
The US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire. The US increased pressure on Iran with its naval blockade as it seeks to get Iran to agree to talks, while Israel and Lebanon are set to extend a ceasefire for three weeks.
WTI crude oil prices (CLM26) rose by more than +2% on Monday after President Trump canceled a planned weekend trip by US envoys to Pakistan and Iran said it won’t negotiate while the US naval blockade of Iran remains in force. The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis. The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
Kevin Warsh now appears to be on a glide path toward Senate approval as the new Fed Chair after Senator Thom Tillis said on Sunday that he dropped his opposition to the nomination. Mr. Tillis dropped his opposition after the US Justice Department dropped its criminal investigation into the Fed’s overspending on the renovation of its building, in line with Mr. Tillis’ demand. Mr. Tillis views the investigation into Fed Chair Powell as an attempt to force the Fed to cut interest rates. The Senate Banking Committee is due to vote on Mr. Warsh’s appointment this Wednesday and then send the nomination to the full Senate for a vote.
The markets are discounting a 0% chance for a +25 bp FOMC rate hike at the Tue-Wed policy meeting. The markets are expecting the FOMC to leave policy unchanged this week as it awaits further developments in oil prices and inflation.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of Monday, 80% of the 139 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled mixed on Monday. The Euro Stoxx 50 closed down -0.39%. China's Shanghai Composite closed up +0.16%. Japan's Nikkei Stock 225 rallied to a new record high and closed up +1.38%.
Interest Rates
June 10-year T-notes (ZNM6) on Monday closed down -6 ticks. The 10-year T-note yield rose +3.6 bp to 4.337%. June T-notes retreated on Monday due to the +2% increase in the price of WTI crude oil, which boosts inflation expectations. The 10-year breakeven inflation rate rose to a 14-month high of 2.457% on Monday. Supply pressures also weighed on T-note prices, as the Treasury auctioned $69 billion of 2-year T-notes and $70 billion of 5-year T-notes.
Demand for Monday’s Treasury auctions was mixed. The 2-year T-note auction saw decent demand, with a bid-to-cover ratio of 2.65, above the 10-auction average of 2.60, while demand for the 5-year T-note auction was tepid, with a bid-to-cover ratio of 2.33, below the 10-auction average of 2.35.
European government bond yields moved higher on Monday. The 10-year German bund yield rose +3.9 bp to 3.033%. The 10-year UK gilt yield rose +6.0 bp to 4.972%.
The German May GfK consumer confidence index fell -5.2 to a 3.25-year low of -33.3, weaker than expectations of -30.0.
Swaps are discounting a 6% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
Health insurance stocks rallied on Monday to provide support to the overall market. Centene (CNC) closed up more than +4%, and Elevance Health (ELV) and Humana (HUM) closed up more than +3%. Also, UnitedHealth Group (UNH) and the Cigna Group (CI) closed up more than +2%, and Cardinal Health (CAH) and Molina Healthcare (MOH) closed up more than +1%.
Airline stocks and cruise line operators fell on Monday after WTI crude oil rose more than +2%, which raises fuel costs and weighs on corporate profits. American Airlines Group (AAL) closed down more than -3%, and Alaska Air Group (ALK), Royal Caribbean Cruises Ltd (RCL), and Southwest Airlines (LUV) closed down more than -2%. Also, United Airlines Holdings (UAL), Carnival (CCL), and Norwegian Cruise Line Holdings Ltd (NCLH) closed down more than -1%, and Delta Air Lines (DAL) closed down -0.37%.
Chipmakers moved lower on Monday, weighing on the broader market. ARM Holdings Plc (ARM) closed down more than -8% to lead losers in the Nasdaq 100. Also, Advanced Micro Devices (AMD), Marvell Technology (MRVL), and Lam Research (LRCX) closed down more than -3%. In addition, Applied Materials (AMAT), Microchip Technology (MCHP), NXP Semiconductors NV (NXPI), KLA Corp (KLAC), and Texas Instruments (TXN) closed down more than -2%, and Analog Devices (ADI) and ASML Holding NV (ASML) closed down more than -1%.
Sandisk (SNDK) closed up more than +8% to lead gainers in the S&P 500 and Nasdaq 100, and Micron Technology (MU) closed up more than +5% after Melius Research LLC initiated coverage on the stocks with buy recommendations.
Stanley Black & Decker (SWK) closed up more than +4% after its board authorized a $500 million stock buyback program.
Verizon Communications (VZ) closed up more than +1% to lead gainers in the Dow Jones Industrials after boosting its full-year adjusted EPS forecast to $4.95-$4.99 from a previous forecast of $4.90-$4.95, stronger than the consensus of $4.90.
Fortinet (FTNT) closed up more than +1% after Arete double-upgraded the stock to buy from sell with a price target of $104.
Crowdstrike Holdings (CRWD) closed up more than +1% after Mizuho Securities upgraded the stock to outperform from neutral with a price target of $520.
VeraDermics (MANE) closed up more than +46% after reporting that its oral extended-release minoxidil formulation VDPHL01 met all primary and key secondary endpoints with high statistical significance in a Phase 2/3 clinical trial for male pattern baldness.
Organon & Co. (OGN) closed up more than +16% after Sun Pharmaceutical Industries Ltd. had lined up a short-term loan to finance its $12 billion acquisition of the company.
Oruka Therapeutics (ORKA) closed up more than +10% after giving positive results from a mid-stage trial of its therapy to treat plaque psoriasis.
Domino’s Pizza (DPZ) closed down more than -8% to lead losers in the S&P 500 after reporting Q1 revenue of $1.15 billion, below the consensus of $1.16 billion.
GE Vernova (GEV) closed down more than -2% after BNP Paribas downgraded the stock to neutral from buy.
Adobe (ADBE) closed down more than -2% after Mizuho Securities downgraded the stock to neutral from outperform.
Earnings Reports(4/28/2026)
Allegion plc (ALLE), American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Avery Dennison Corp (AVY), Booking Holdings Inc (BKNG), BXP Inc (BXP), Centene Corp (CNC), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Ecolab Inc (ECL), Edison International (EIX), Equity Residential (EQR), Essex Property Trust Inc (ESS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), F5 Inc (FFIV), Fair Isaac Corp (FICO), FirstEnergy Corp (FE), Franklin Resources Inc (BEN), General Motors Co (GM), Hilton Worldwide Holdings Inc (HLT), Incyte Corp (INCY), Ingersoll Rand Inc (IR), Invesco Ltd (IVZ), Kimberly-Clark Corp (KMB), Mondelez International Inc (MDLZ), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), ONEOK Inc (OKE), PACCAR Inc (PCAR), Pentair PLC (PNR), PPG Industries Inc (PPG), Robinhood Markets Inc (HOOD), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Starbucks Corp (SBUX), Sysco Corp (SYY), Teradyne Inc (TER), T-Mobile US Inc (TMUS), United Parcel Service Inc (UPS), Veralto Corp (VLTO), Visa Inc (V), Waste Management Inc (WM), Welltower Inc (WELL), Xylem Inc/NY (XYL), Zimmer Biomet Holdings Inc (ZBH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tech Earnings Optimism Powers Stocks Higher

Monday, April 27, 2026
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Amazon.com, Inc. (AMZN), Intel Corp. (INTC) and Applied Materials, Inc. (AMAT), as well as two micro-cap stocks Perma-Pipe International Holdings, Inc. (PPIH). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Pre-Markets Sluggish Ahead of a Busy Week
Today's Featured Research Reports
Amazon’s shares have outperformed the Zacks Internet - Commerce industry over the past six months (+15.2% vs. +4.1%). The company’s international expansion and diversification across e-commerce, AWS cloud services, advertising, and streaming create multiple revenue streams while reducing concentration risk.
For 1Q’26, Amazon guided revenue of $173.5-$178.5 billion and operating income of $16.5-$21.5 billion, with a $1 billion year-over-year cost increase from Amazon LEO satellites. AI integration across operations enhances personalization, logistics, and AWS offerings, strengthening competitive positioning.
However, substantial capital expenditure requirements for AI infrastructure and data centers strain financial resources and compress margins. The company’s expanding debt burden reduces financial flexibility amid rising interest rates. Intensifying competition from Walmart, Microsoft Azure and Google Cloud is an overhang.
(You can read the full research report on Amazon here >>>)
Shares of Intel have outperformed the Zacks Semiconductor - General industry over the past six months (+102.7% vs. +9.1%). The company reported strong first-quarter 2026 results, with both adjusted earnings and revenues beating the Zacks Consensus Estimate. Its AI solutions will benefit the semiconductor ecosystem by reducing costs, improving performance, and enabling a scalable, open AI environment. Intel Xeon 6 CPUs will power Google’s Cloud data centers for ML workloads and fast-response applications.
Intel is also expanding into the rapidly growing Edge AI landscape with Intel Core Ultra Series 3 processors, which offer significantly better large language model performance, video analytics, and higher throughput on vision language action models.
However, intensifying competition from AMD in the PC market is hindering growth. High debt levels remain a concern. Latent U.S.-China geopolitical tensions and the war in the Middle East are likely to impact prospects.
(You can read the full research report on Intel here >>>)
Applied Materials’ shares have outperformed the Zacks Electronics - Semiconductors industry over the past six months (+80.5% vs. +27.1%). The company is benefiting from strength in the Semiconductor Systems, owing to a rebound in the semiconductor industry, particularly in the foundry and logic space.
Consistent progress in the services is aiding Applied Global Services’ performance. Solid momentum in the subscription and display businesses is a plus. Its strength in IoT, Communications, Auto, Power and Sensors (ICAPS) is likely to continue aiding its position in the semiconductor industry. Its diversified portfolio remains its key growth driver.
However, increasing U.S.-China tensions and export restrictions on semiconductor manufacturing equipment may undermine its near-term growth prospects. Rising operating costs and intense competition remain other major concerns.
(You can read the full research report on Applied Materials here >>>)
Shares of Perma-Pipe International have outperformed the Zacks Steel - Pipe and Tube industry over the past year (+155.4% vs. +91.5%). This microcap company with a market capitalization of $260.76 million delivered strong, volume-driven earnings growth in FY25, with revenue rising to $210.9 million and net income nearly doubling. Growth prospects are strengthening with increasing exposure to AI-driven data center infrastructure, adding a structurally growing and less cyclical end market alongside its core energy and district heating business.
Perma-Pipe International’s diversified global footprint (70%+ international revenues) continues to support project wins across the Middle East, North America, and Canada, enabling steady execution across multiple infrastructure cycles. Liquidity has improved, supported by higher cash, working capital expansion, and refinancing.
However, key risks include internal control weaknesses and reliance on cost-to-complete accounting, which may affect earnings quality. A backlog decline could indicate some moderation in future growth. Valuation remains attractive relative to peers.
(You can read the full research report on Perma-Pipe International here >>>)
Other noteworthy reports we are featuring today include Sanofi (SNY), Ciena Corp. (CIEN) and Kinder Morgan, Inc. (KMI).
Mark Vickery
Senior Edtior
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Featured Reports
Dupixent to Remain Sanofi's (SNY) Key Top-Line Driver
The Zacks analyst expects Dupixent to remain Sanofi's key top-line driver as it enjoys strong demand. Competitive pressure on influenza vaccines and regular pipeline setbacks are key headwinds
Strong LNG Demand and Contracted Projects to Aid Kinder Morgan (KMI)
Per the Zacks analyst, Kinder Morgan to benefit from robust LNG demand and contracted projects. However, reliance on gas markets and approval risks may restrict future growth flexibility.
Accelerating Non-Trading Revenue Base Aids Nasdaq (NDAQ)
Per the Zacks analyst, Nasdaq is set to grow on its focus toward Market Technology and Information Services businesses. However, increasing expenses weighing on margin expansion is likely a concern.
Multi-year Contracts Aid Booz Allen (BAH), Competition High
Per the Zacks analyst, Booz Allen benefits from multi-year contracts that generate a steady revenue stream and lower the company's exposure to market volatility. Rising competition is an overhang.
Stable Assets, Strong Free Cash Flow Aid CNX Resources (CNX)
Per the Zacks analyst CNX Resources will benefit from strong production from Marcellus and Utica shales assets. Free cash flow generated in 24 consecutive quarters allowed it to reduce debt.
Partnership With PowerCo Aids QuantumScape (QS) Amid Rising Capex
Per the Zacks analyst, the collaboration with Volkswagen's PowerCo strengthens QuantumScape's commercialization outlook. However, rising capital requirements remain a concern.
Strength in the SMB-led Lending, Rising Revenue Aid Enova (ENVA)
Per the Zacks analyst, strength in the SMB-led lending and rising revenue base, given robust origination and the pending buyout of Grasshopper Bancorp, will continue to support Enova's financials.
New Upgrades
Ciena (CIEN) Rides on Momentum in Cloud and AI Solutions
Per the Zacks analyst, the rise of cloud and AI technologies has increased bandwidth requirements across global networks, thereby boosting demand for Ciena's solutions.
V.F. Corp (VFC) Benefits From Its Reinvent Transformation Program
Per Zacks analyst, V.F. Corp gains from Reinvent program, which focuses on operational discipline, brands and growth. Operational synergies position VFC to capitalize on consumers' growing emphasis.
Universal Insurance Set to Grow on Prudent Underwriting
Per the Zacks analyst, Universal Insurance is set to grow on strong retention, selective market positioning, and policy growth. Disciplined underwriting and early reinsurance placement add to upside.
New Downgrades
G-III Apparel (GIII) Hit by Tariffs, Weak Wholesale Demand
Per the Zacks analyst, higher tariffs are pressuring G-III's costs, contributing to a 250-bps year-over-year decline in Q4 gross margin, while softness in the wholesale segment remains a key concern.
Baxter (BAX) Faces Margin Pressure Despite Core Business Growth
Per the Zacks analyst, Baxter is facing margin pressure in Pharma and Front Line Care segments amid rising costs and tariffs. However, core business continues to support top-line growth.
Weak Demand and High Costs Hurt Mohawk (MHK) Performance
Per the Zacks analyst, soft residential remodeling demand, low housing turnover and weaker consumer sentiment have been hurting Mohawk. Also, uncertain macro environment and high costs are a headwind.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	38.18 33.91
Price/Sales	6.65 2.88
P/B	14.46 2.91
P/FCF	52.49 25.15

Indicator	TTM Median
ROE	38.90 15.16
ROA	20.36 6.57
ROI	30.03 10.18
Net Worth	187.98 1.08
Quick Ratio	1.87 1.57
Current Ratio	2.61 1.88

Indicator	TTM Median
Net Profit Margin	27.78 9.72
Operating Margin	28.16 10.93
Gross Margin	48.72 49.53
Return on tangible equity	45.45 28.45

Indicator	TTM Median
EPS	2.48 0.27
EPS Forecast	2.19 0.23
Revenue	6.80B 74.50M
Gross Profit	3.44B —
EBITDA	1.83B —

Applied Materials, Inc.

Recent quarterly and TTM performance

Valuation

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