Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, Arizona.

Freeport-McMoRan выглядит финансово устойчивой, но рынок уже закладывает в цену заметно больше, чем подтверждают текущие фундаментальные метрики. С одной стороны, у компании сильный баланс: debt/equity всего 0.28, current ratio 2.39, а долгосрочный долг за год практически не меняется, что снижает риск финансового давления. С другой стороны, ликвидность не идеальна: quick ratio 1.13 лишь немного выше безопасного минимума, а cash on hand снизился по сравнению с прошлым годом, поэтому запас прочности не выглядит избыточным. По прибыльности картина лучше: net profit margin 10.34%, operating margin 25.15% и рост net income до 881 млн долларов показывают, что бизнес остаётся высокомаржинальным и способен генерировать прибыль даже в цикличной среде. При этом ROE 8.91%, ROA 4.75% и ROI 6.90% ниже медианы отрасли, то есть эффективность использования капитала и активов пока не дотягивает до уровня лучших игроков. Особенно важно, что мультипликаторы выглядят дорогими: P/E 30.73, P/S 3.79, P/B 2.73 и P/FCF 58.50 существенно выше отраслевых медиан, а это ограничивает потенциал переоценки. Динамика мультипликаторов тоже не даёт сильного аргумента в пользу расширения оценки: P/S и P/FCF росли, что обычно означает, что цена опережает фундаментальные денежные потоки. Выручка и операционная прибыль остаются крупными и в целом поддерживают оценку, но gross profit за последний период просел, что указывает на давление на валовую прибыльность. Дивидендная доходность 0.11% очень низкая и заметно снизилась, поэтому дивидендный фактор почти не поддерживает инвестиционный кейс. В сумме это качественный, но уже не дешёвый актив: сильный баланс и приемлемая рентабельность компенсируются слабой относительной эффективностью и высокой стоимостью по мультипликаторам. Для инвестора это означает скорее ограниченный апсайд при текущей цене, чем явную недооценённость. Поэтому целевой прогноз уместно слегка снизить, сохранив осторожный взгляд на бумагу в рамках циклического сырьевого сектора.

Freeport-McMoRan, Inc.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Слабый индекс, значительно упал. Медведи сохранили, но резко ослабили уверенность в своих позициях.

Weak index, significantly down. The bears retained but sharply weakened their confidence in their positions.

Слабый индекс, значительно вырос. Рынок на стороне быков.

Weak index, significantly up. The market is on the bulls' side.

Сильный индекс, значительно упал. Рынок не поддерживает медведей.

Strong index, significantly down. The market does not support the bears.

Средний индекс, незначительно упал. Приток средств в лонги снизился, но остается положительным.

Medium index, slightly down. The inflow of funds into longs has decreased, but remains positive.

Слабый индекс, без изменений. Отток средств из шортов остается значительным.

Weak index, flat. The outflow of funds from shorts remains significant.

FCX финансово устойчив, но дорог по мультипликаторам; прибыльность приемлемая, однако ROE/ROA ниже отрасли и дивидендная поддержка слабая.

Freeport-McMoRan Inc.’s FCX shares have gained 24.8% so far this year, fueled by strong earnings backed by higher copper prices amid concerns over tighter global supply and resilient demand. While sales volumes were lower, significantly higher realized copper prices boosted the company’s first-quarter earnings performance.
Freeport has outperformed the Zacks Mining - Non Ferrous industry’s rise of 9.5% and the S&P 500’s increase of 8.1% over the same period. Its peers, Southern Copper Corporation SCCO and BHP Group Limited BHP, have rallied 20.6% and 37%, respectively.
Freeport’s YTD Price Performance
Image Source: Zacks Investment Research
FCX stock slipped below its 50-day simple moving average (SMA) last Friday, pulled down by a retreat in copper prices. FCX has been trading above the 200-day SMA since late November 2025, suggesting a long-term uptrend. Following a golden crossover on July 8, 2025, the 50-day SMA is higher than the 200-day SMA, indicating a bullish trend.
FCX Stock Trades Below 50-Day SMA
Image Source: Zacks Investment Research
Let’s take a look at FCX’s fundamentals to analyze the stock better.
Freeport’s Growth Actions to Drive Capacity & Production
Freeport continues to leverage its portfolio of high-quality copper assets, emphasizing disciplined execution and organic growth initiatives to strengthen its production profile. It has completed the evaluation of a large-scale expansion at El Abra in Chile to define a large sulfide resource that could potentially support a major mill project similar to the large-scale concentrator at Cerro Verde, with an estimated resource of approximately 20 billion recoverable pounds of copper.
In Arizona, FCX is progressing with pre-feasibility studies at its Safford/Lone Star operations, with completion targeted for 2026, to assess a sizable sulfide expansion opportunity. It has expansion opportunities at Bagdad in Arizona that can more than double the concentrator capacity of the operation. Technical and economic studies have revealed the potential to build concentrating facilities to boost copper production by 200-250 million pounds annually.
PT Freeport Indonesia (PT-FI) is developing the Kucing Liar ore body within the Grasberg district with a targeted ramp-up to commence in 2030. FCX completed studies in 2025 that showed an opportunity to increase Kucing Liar’s design capacity to 130,000 metric tons of ore per day and reserves by roughly 20% at low costs.
FCX’s Solid Financial Health & Capital Discipline Bode Well
FCX has a strong liquidity profile and generates substantial cash flows, providing ample flexibility to fund expansion projects, reduce debt and enhance shareholder returns. It generated solid operating cash flows of $5.6 billion in 2025. Cash flows provided by operations surged 36% year over year to around $1.5 billion in the first quarter of 2026. Freeport ended the first quarter with strong liquidity, including $3.7 billion in cash and cash equivalents, $3 billion in availability under the FCX revolving credit facility, and $1.5 billion in availability under the PT-FI credit facility.
At the end of the first quarter, Freeport had a net debt of $2.4 billion, excluding PTFI’s new downstream processing facilities. Its net debt is below its targeted range of $3-$4 billion. Freeport has a policy of distributing 50% of the available cash to its shareholders and the balance to either reduce debt or invest in growth projects. FCX has no significant debt maturities until 2027. Its long-term debt-to-capitalization is around 22.1% compared with 36.3% for Southern Copper and 29.3% for BHP Group.
FCX offers a dividend yield of roughly 0.5% at the current stock price. Its payout ratio is 14% (a ratio below 60% is a good indicator that the dividend will be sustainable). Backed by strong financial health, the company's dividend is perceived to be safe and reliable.
Elevated Copper Prices Augur Well for Freeport
Prices of copper, the backbone of electrification, were volatile yet mostly favorable last year due to global economic and trade uncertainties. Copper prices started 2026 on a strong note, underpinned by robust demand from China and the United States. Structural tailwinds, including electric vehicles (EVs), renewable energy projects, data center growth and grid modernization, continue to boost copper consumption. Worries about tightening supply amid rising EV and infrastructure demand also supported the red metal. These factors led to prices surging to roughly $6.4 per pound in late January. Prices of the red metal were mostly volatile during February, largely trading near $6 per pound.
Copper prices came under pressure in March amid concerns about the impact of surging oil prices on the global economy due to the war in the Middle East, dragging down prices to a three-month low of around $5.3 per pound in late March. Prices rebounded in April on hopes of a de-escalation in the Iran war. Prices shot up to around $6.6 per pound in May amid robust demand in China and supply worries linked to the Middle East conflict. Copper surged to an all-time high near $6.7 per pound recently on supply woes. Prices have pulled back from that level and are currently hovering near $6.3 per pound. Inflation concerns stemming from an uptick in oil prices amid tensions in the Middle East and a strengthening dollar pressured the prices of the red metal.
Freeport’s average realized copper price climbed around 30% year over year to $5.78 per pound in the first quarter. Favorable prices are expected to continue to support its performance.
Higher Unit Costs May Pressure FCX’s Margins
Freeport faces headwinds from higher costs. Its outlook for the second quarter of 2026 suggests higher costs on a sequential basis. It expects unit net cash costs to rise to $2.24 per pound, while projecting a full-year average of roughly $1.95 (compared with $1.65 in 2025). The projected second-quarter unit cost reflects a roughly 98% year over year and 17% increase from the prior quarter. The uptick in costs reflects higher costs of energy and other consumables due to the Middle East conflict and persistent pressure on volumes. Higher costs are expected to weigh on the company's margins.
Volume Weakness a Drag on FCX’s Prospects
Freeport’s copper sales volumes tumbled approximately 25% year over year in the first quarter to 657 million pounds, and fell from 709 million pounds in the prior quarter. The downside primarily resulted from lower operating rates due to the temporary suspension of operations since the mud rush incident at the Grasberg Block Cave mine in Indonesia in September 2025.
While the company’s outlook for copper sales volumes for the second quarter of 2026 of 690 million pounds indicates a sequential improvement, it still suggests a 32% year-over-year decline. For full-year 2026, consolidated sales volume projections were revised lower to around 3.1 billion pounds of copper from the prior view of 3.4 billion pounds due to an expected delay in achieving full ramp-up of the Grasberg Block Cave mine. Lower sales volumes are expected to weigh on its top line.
FCX’s Earnings Estimates Northbound
Freeport’s earnings estimates have been going up over the past 60 days. The Zacks Consensus Estimate for earnings for 2026 and 2027 has been revised higher over the same time frame.
Image Source: Zacks Investment Research
A Look At FCX’s Valuation
FCX is currently trading at a forward price/earnings of 21.53X, a 1.5% premium to the industry average of 21.22X. The FCX stock is trading at a discount to Southern Copper and at a premium to BHP Group.
FCX’s P/E F12M Vs. Industry, SCCO and BHP
Image Source: Zacks Investment Research
How Should Investors Play FCX Stock?
Freeport is well-positioned to gain from advances in its expansion projects, which are expected to enhance production capacity. The company’s strong balance sheet provides ample flexibility to fund growth initiatives while maintaining shareholder returns. Favorable copper prices also bode well for its prospects. However, weaker sales volume expectations and higher unit costs remain concerns. Investors already owning this Zacks Rank #3 (Hold) stock may consider staying invested.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Freeport-McMoRan Surges 25% YTD: Buy, Sell or Hold the Stock?

The S&P 500 Index ($SPX) (SPY) on Friday closed down -2.64%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -1.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -4.77%. June E-mini S&P futures (ESM26) fell -2.97%, and June E-mini Nasdaq futures (NQM26) fell -5.09%.
Stock indexes sold off sharply on Friday, with the S&P 500 and Nasdaq 100 posting 2-week lows. Investors rotated out of AI-infrastructure and semiconductor companies and sold megacap technology stocks that earlier this week pushed US stock indexes to all-time highs. Technology stocks retreated amid long liquidation and profit-taking after Broadcom’s outlook for chip sales fell short of high expectations, raising concerns that the AI trade rally has been excessive.
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Stock indexes added to their losses on Friday as bond yields soared on the stronger-than-expected US May payrolls report, bolstering speculation that the Fed’s next interest rate move will be a rate hike. The 10-year T-note yield rose to a 2-week high of 4.55%.
US May nonfarm payrolls rose +172,000, stronger than expectations of +88,000. Also, Apr nonfarm payrolls were revised upward to +179,000 from the previously reported +115,000. The May unemployment rate remained unchanged at 4.3%, right on expectations.
US May average hourly earnings rose +0.3% m/m and +3.4% y/y, right on expectations.
US Apr consumer credit increased by $20.733 billion, stronger than expectations of $17.670 billion.
Crude oil prices fell more than -2% on Friday, even as the US and Iran have made little progress in talks over an interim peace deal, with clashes between Israel and Hezbollah militants continuing in Lebanon. Iran insists on a ceasefire in Lebanon before accepting a US deal to extend the truce and reopen the Strait of Hormuz. President Trump said Thursday that negotiations with Iran are in the “final” stages without elaborating, while Iran’s Foreign Minister Abbas Araghchi earlier said there had been “no tangible progress” even though both sides continue to exchange messages via mediators.
The markets are discounting a 1% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
The generally favorable Q1 earnings season is winding down. As of Friday, 84% of the 496 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 Friday. The Euro Stoxx 50 closed down -0.68%. China's Shanghai Composite fell to a 7-week low and closed down -0.74%. Japan's Nikkei Stock Average closed down -1.31%.
Interest Rates
September 10-year T-notes (ZNU6) on Friday closed down -16.5 ticks, and the 10-year T-note yield rose +6.9 bp to 4.542%. Sep T-note prices tumbled to a 2-week low on Friday, and the 10-year T-note yield rose to a 2-week high of 4.552%. T-notes retreated on Friday amid a stronger-than-expected increase in US May nonfarm payrolls and a sharp upside revision to April nonfarm payrolls, bolstering speculation that the next Fed move will be an interest rate increase.
European government bond yields moved higher on Friday. The 10-year German Bund yield climbed to a 2-week high of 3.051% and finished up +1.6 bp to 3.038%. The 10-year UK gilt yield rose +0.5 bp to 4.903%.
Eurozone Q1 GDP was revised downward to -0.2% q/q and +0.3% y/y from the previously reported +0.1% q/q and +0.8% y/y.
Swaps are discounting a 100% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI-infrastructure stocks are retreating for a second day today after Broadcom’s outlook for chip sales fell short of high expectations, raising concerns over whether the rally in the AI trade has been excessive. Marvell Technology (MRVL) closed down more than -16% to lead losers in the Nasdaq 100, and Micron Technology (MU) closed down more than -13%. Also, ARM Holdings Plc (ARM) closed down more than -12%, and Intel (INTC), Sandisk (SNDK), ON Semiconductor (ON), and Western Digital (WDC) closed down more than -10%. In addition, Advanced Micro Devices (AMD) and Qualcomm (QCOM) closed down more than -9%, and Applied Materials (AMAT), KLA Corp (KLAC), Seagate Technology Holdings Plc (STX), and Lam Research (LRCX) closed down more than -8%. Finally, Broadcom (AVGO), NXP Semiconductors NV (NXPI), and Microchip Technology (MCHP) closed down more than -7%, and ASML Holding NV (ASML) and Texas Instruments (TXN) closed down more than -6%.
The Magnificent Seven technology stocks fell sharply on Friday. Tesla (TSLA) and Nvidia (NVDA) closed down more than -6%, and Meta Platforms (META) closed down more than -5%. Also, Amazon.com (AMZN) closed down more than -3%, and Microsoft (MSFT) closed down more than -2%. In addition, Alphabet (GOOGL) and Apple (AAPL) closed down more than -1%.
Cryptocurrency-exposed stocks sank on Friday, as Bitcoin (^BTCUSD) fell more than -5% to a 20-month low. Galaxy Digital Holdings (GLXY) closed down more than -11%, and MARA Holdings (MARA) and Riot Platforms (RIOT) closed down more than -10%. Also, Coinbase Global (COIN) closed down more than -7%, and Strategy (MSTR) closed down more than -6%.
Mining stocks sold off on Friday as gold, silver, and copper prices plunged. Hecla Mining (HL) closed down more than -12%, and Coeur Mining (CDE) closed down more than -11%. Also, Southern Copper (SCCO) closed down more than -10%, and Freeport McMoRan (FCX) closed down more than 9%. In addition, Anglogold Ashanti (AU) closed down more than -8%, and Newmont Corp (NEM) and Barrick Mining (B) closed down more than -7%.
Defensive consumer staple companies rallied on Friday amid the broader market's plunge. Clorox (CLX) closed up more than +5%, and Procter & Gamble (PG) closed up more than +4% to lead gainers in the Dow Jones Industrials. Also, Kimberly-Clark (KMB) and Colgate-Palmolive (CL) closed up more than +4%, and Coca-Cola (KO) and Tyson Foods (TSN) closed up more than +3%.
Guidewire Software (GWRE) closed down more than -9% after forecasting Q4 subscription and support revenue of $259 million to $265 million, the midpoint below the consensus of $263.6 million.
Lululemon Athletica (LULU) closed down more than -8% after cutting its 2027 net revenue forecast to $11 billion to $11.15 billion from a previous forecast of $11.35 billion to $11.50 billion, below the consensus of $11.49 billion.
DocuSign (DOCU) closed down more than -6% after forecasting a full-year adjusted gross margin of 81.5% to 82%, the midpoint below the consensus of 81.8%.
Fiserv (FISV) closed down more than -3% after BNP Paribas downgraded the stock to underperform from neutral with a price target of $46.
Cooper Cos (COO) closed up more than +8% to lead gainers in the S&P 500 after reporting Q2 net sales of $1.08 billion, better than the consensus of $1.05 billion.
G-III Apparel Group Ltd (GIII) closed up more than +5% after boosting its 2027 adjusted EPS forecast to $2.15 to $2.25 from a previous estimate of $2.00 to $2.10, above the consensus of $2.09.
ServiceTitan (TTAN) closed up more than +4% after reporting Q1 revenue of $268.8 million, above the consensus of $256.7 million.
Chipotle Mexican Grill (CMG) closed up more than +4% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $35.
Earnings Reports(6/8/2026)
Campbell's Company/The (CPB), Graham Corp (GHM), Hub Group Inc (HUBG), Mama's Creations Inc (MAMA), Mission Produce Inc (AVO), Motorcar Parts of America Inc (MPAA), Nano-X Imaging Ltd (NNOX), Oil-Dri Corp of America (ODC), Replimune Group Inc (REPL), Vail Resorts Inc (MTN), XCF Global Inc (SAFX).
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.

Stocks Settle Sharply Lower as Tech Companies Routed

The S&P 500 Index ($SPX) (SPY) today is down -1.00%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -2.08%. June E-mini S&P futures (ESM26) are down -1.11%, and June E-mini Nasdaq futures (NQM26) are down -2.28%.
Stock indexes are plummeting today, with the S&P 500 and Nasdaq 100 falling to 2-week lows as investors rotate out of AI-infrastructure and semiconductor stocks that earlier this week pushed the US stock index to all-time highs. Technology stocks continue to pull back amid long liquidation and profit-taking after Broadcom’s outlook for chip sales fell short of high expectations, raising concerns that the AI trade rally has been excessive.
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Stock indexes added to their losses today as bond yields jumped on the stronger-than-expected US May payrolls report, bolstering speculation that the Fed’s next interest rate move will be a rate hike. The 10-year T-note yield rose to a 2-week high of 4.54%.
US May nonfarm payrolls rose +172,000, stronger than expectations of +88,000. Also, Apr nonfarm payrolls were revised upward to +179,000 from the previously reported +115,000. The May unemployment rate remained unchanged at 4.3%, right on expectations.
US May average hourly earnings rose +0.3% m/m and +3.4% y/y, right on expectations.
Crude oil prices are down more than -2% today, even as the US and Iran have made little progress in talks over an interim peace deal, with clashes between Israel and Hezbollah militants continuing in Lebanon. Iran insists on a ceasefire in Lebanon before accepting a US deal to extend the truce and reopen the Strait of Hormuz. President Trump said Thursday that negotiations with Iran are in the “final” stages without elaborating, while Iran’s Foreign Minister Abbas Araghchi earlier said there had been “no tangible progress” even though both sides continue to exchange messages via mediators.
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
The generally favorable Q1 earnings season is winding down. As of today, 83% of the 494 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 is down -0.56%. China's Shanghai Composite fell to a 7-week low and closed down -0.74%. Japan's Nikkei Stock Average closed down -1.31%.
Interest Rates
September 10-year T-notes (ZNU6) today are down -16 ticks, and the 10-year T-note yield is up +7.1 bp to 4.553%. Sep T-note prices tumbled to a 2-week low today, and the 10-year T-note yield rose to a 2-week high of 4.544%. T-notes retreated today on the stronger-than-expected increase in US May nonfarm payrolls and the sharp upside revision to April nonfarm payrolls, bolstering speculation that the next move by the Fed will be an interest rate increase.
European government bond yields are moving higher today. The 10-year German Bund yield climbed to a 2-week high of 3.051% and is up +1.6 bp to 3.038%. The 10-year UK gilt yield is up +0.9 bp to 4.907%.
Eurozone Q1 GDP was revised downward to -0.2% q/q and +0.3% y/y from the previously reported +0.1% q/q and +0.8% y/y.
Swaps are discounting a 98% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI-infrastructure stocks are retreating for a second day today after Broadcom’s outlook for chip sales fell short of high expectations, raising concerns over whether the rally in the AI trade has been excessive. Super Micro Computer (SMCI) is down more than -7% to lead losers in the S&P 500, and ARM Holdings Plc (ARM) is down more than -7% to lead losers in the Nasdaq 100. Also, ON Semiconductor (ON), Intel (INTC), Marvell Technology (MRVL), and Advanced Micro Devices (AMD) are down more than -6%, and Micron Technology (MU), NXP Semiconductors NV (NXPI), Sandisk (SNDK), Qualcomm (QCOM), and KLA Corp (KLAC) are down more than -5%. In addition, Lam Research (LRCX), Applied Materials (AMAT), Broadcom (AVGO), ASML Holding NV (ASML), Texas Instruments (TXN), and Western Digital (WDC) are down more than -4%.
Cryptocurrency-exposed stocks are tumbling today, with Bitcoin (^BTCUSD) down more than -4% at a 20-month low. Galaxy Digital Holdings (GLXY) is down more than -11%, and MARA Holdings (MARA) is down more than -9%. Also, Riot Platforms (RIOT) is down more than -8%, Strategy (MSTR) is down more than -7%, and Coinbase Global (COIN) is down more than -6%.
Mining stocks are selling off today with gold, silver, and copper prices sharply lower. Coeur Mining (CDE) and Hecla Mining (HL) are down more than -9%, and Southern Copper (SCCO) is down more than -8%. Also, Freeport McMoRan (FCX) and Anglogold Ashanti (AU) are down more than 6%, and Newmont Corp (NEM) and Barrick Mining (B) are down more than -5%.
Guidewire Software (GWRE) is down more than -8% after forecasting Q4 subscription and support revenue of $259 million to $265 million, the midpoint below the consensus of $263.6 million.
Lululemon Athletica (LULU) is down more than -6% after cutting its 2027 net revenue forecast to $11 billion to $11.15 billion from a previous forecast of $11.35 billion to $11.50 billion, below the consensus of $11.49 billion.
DocuSign (DOCU) is down more than -4% after forecasting a full-year adjusted gross margin of 81.5% to 82%, the midpoint below the consensus of 81.8%.
Fiserv (FISV) is down more than -3% after BNP Paribas downgraded the stock to underperform from neutral with a price target of $46.
G-III Apparel Group Ltd (GIII) is up more than +9% after boosting its 2027 adjusted EPS forecast to $2.15 to $2.25 from a previous estimate of $2.00 to $2.10, above the consensus of $2.09.
Cooper Cos (COO) is up more than +7% to lead gainers in the S&P 500 after reporting Q2 net sales of $1.08 billion, better than the consensus of $1.05 billion.
ServiceTitan (TTAN) is up more than +7% after reporting Q1 revenue of $268.8 million, above the consensus of $256.7 million.
Argan (AGX) is up more than +6% after reporting Q1 revenue of $291 million, stronger than the consensus of $256 million.
Chipotle Mexican Grill (CMG) is up more than +4% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $35.
Samsara (IOT) is up more than +1% after reporting Q1 revenue of $478.8 million, above the consensus of $455.2 million.
Earnings Reports(6/5/2026)
ABM Industries Inc (ABM), G-III Apparel Group Ltd (GIII), Lifezone Metals Ltd (LZM).
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.

Stock Indexes Plunge as Tech Stocks Get Dumped

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Basic Materials ETF (Symbol: IYM) where we have detected an approximate $140.7 million dollar outflow -- that's a 9.1% decrease week over week (from 8,200,000 to 7,450,000). Among the largest underlying components of IYM, in trading today Freeport-McMoran Copper & Gold (Symbol: FCX) is off about 6.5%, Ecolab Inc (Symbol: ECL) is up about 1.7%, and Air Products & Chemicals Inc (Symbol: APD) is higher by about 1.2%. For a complete list of holdings, visit the IYM Holdings page » The chart below shows the one year price performance of IYM, versus its 200 day moving average:
Looking at the chart above, IYM's low point in its 52 week range is $135.94 per share, with $189.805 as the 52 week high point — that compares with a last trade of $184.55. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further IYM Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

IYM, FCX, ECL, APD: ETF Outflow Alert

Freeport-McMoRan Inc. FCX saw a decline in its average unit net cash cost per pound of copper in the first quarter of 2026 to $1.91 from $2.22 in the prior quarter. It also fell from $2.07 a year ago.
Freeport, however, is facing headwinds from higher costs in the second quarter. FCX’s outlook for the second quarter suggests higher costs on a sequential basis. It expects unit net cash costs to rise to $2.24 per pound, while projecting a full-year average of roughly $1.95 (compared with $1.65 in 2025).
The projected second-quarter unit cost reflects a roughly 98% year over year and 17% quarter over quarter increase. The uptick in costs reflects higher costs of energy and other consumables due to the Middle East conflict and persistent pressure on volumes. Higher costs are expected to weigh on the company's margins.
Freeport’s copper sales volumes tumbled approximately 25% year over year in the first quarter to 657 million pounds, and fell from 709 million pounds in the prior quarter. The downside primarily resulted from lower operating rates due to the temporary suspension of operations since the mud rush incident at the Grasberg Block Cave mine. While the company’s outlook for copper sales volumes for the second quarter of 690 million pounds indicates a sequential improvement, it still suggests a 32% year-over-year decline.
Among FCX’s peers, Southern Copper Corporation SCCO reported lower unit costs in the first quarter. Southern Copper’s operating cash cost per pound of copper, net of by-product revenue credits, fell by roughly 114% decline from the prior-year quarter. SCCO’s operating cash cost per pound of copper declined roughly 34% year over year in 2025.
BHP Group Limited BHP lowered its unit cost guidance for the Escondida operation to the band of $1-$1.2 per pound for fiscal 2026, reflecting by-product credits and strong operational performance. BHP also projects Copper South Australia’s unit cost between $1 and $1.5 per pound. Unit costs at BHP’s Spence operation are expected to be between $2.1 and $2.4 per pound for fiscal 2026.
The Zacks Rundown for FCX
Shares of Freeport are up 69.5% in the past year against the Zacks Mining - Non Ferrous industry’s rise of 76.6%.
Image Source: Zacks Investment Research
From a valuation standpoint, FCX is currently trading at a forward 12-month earnings multiple of 24.07, a 1.9% discount to the industry average of 24.53X. It carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for FCX’s 2026 and 2027 earnings implies a year-over-year rise of 44.6% and 34%, respectively. The EPS estimates for 2026 and 2027 have been trending higher over the past 30 days.
Image Source: Zacks Investment Research
FCX stock currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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Can FCX Protect Margins Amid Higher Copper Production Costs in Q2?

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
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What are the Zacks Style Scores?
Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
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You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Freeport-McMoRan (FCX)
Based in Phoenix, AZ, Freeport-McMoRan Inc., formerly Freeport-McMoRan Copper & Gold Inc., is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; as well as the smelting and refining of copper concentrates. The company conducts its operations primarily through its principal operating subsidiaries, PT Freeport Indonesia (PT-FI), Freeport Minerals Corporation and Atlantic Copper. PT Freeport Indonesia’s principal asset is Papua, Indonesia-based Grasberg mine, which contains the world’s largest copper and gold reserves.
FCX is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. FCX has a Growth Style Score of B, forecasting year-over-year earnings growth of 44.6% for the current fiscal year.
For fiscal 2026, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $2.56 per share. FCX boasts an average earnings surprise of +32.1%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, FCX should be on investors' short list.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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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.

Here's Why Freeport-McMoRan (FCX) is a Strong Growth Stock

The artificial intelligence (AI) frenzy remains intact as the AI infrastructure space remains rock solid, supported by an extremely bullish demand scenario. Research firm McKinsey & Co. has estimated that global AI-powered data center infrastructure capex will reach around $7 trillion by 2030.
The four major hyperscalers raised their AI capital expenditure budget to $750 billion in 2026 from $670 billion estimated earlier. This figure is set to cross $1 trillion next year and is likely to rise further beyond 2027.
Besides tech stocks, several non-tech stocks are also flourishing this year supported by massive AI-powered data center infrastructure requirements. At this stage, we have identified five stocks that investors should keep a tab on for long-term price appreciation.
These stocks are: Eaton Corp. plc ETN, Caterpillar Inc. CAT, Freeport-McMoRan Inc. FCX, GE Vernova Inc. GEV and Alcoa Corp. AA. Each of these stocks currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The chart below shows the price performance of the five stocks mentioned above year to date.
Image Source: Zacks Investment Research
Eaton Corp. plc
Eaton is benefiting from strong electrification-driven demand, reflected in rising orders and an expanding backlog. The move toward higher-density AI infrastructure increases demand for grid-to-chip power and cooling solutions, which fits ETN’s electrical portfolio and recent cooling acquisition.
In first-quarter 2026, Electrical Americas data center revenues increased about 50% year over year, and management highlighted the Eaton Beam Rubin DSX platform developed with NVIDIA as an end-to-end blueprint for AI factories.
ETN also discussed progress toward direct-current architectures and solid-state transformer development, including quoting on higher-voltage DC projects and expecting orders in the second half of 2026 for later shipments.
Eaton has an expected revenue and earnings growth rate of 15.3% and 10.4%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 0.2% in the last 30 days.
Caterpillar Inc.
Caterpillar is gaining from rising AI data-center-related power demand. As big technology companies establish data centers globally to support their generative AI applications, CAT is witnessing robust order levels for reciprocating engines for data centers. The company is planning to double its output with a multi-year capital investment.
CAT has also revised its target of growing Power Generation sales to more than 3.0X from the earlier stated 2.0X target by 2030. CAT announced another agreement to provide PROPWR up to 2.1 gigawatts of large gas generator sets for prime power generation in support of data center, oil and gas and industrial applications.
Caterpillar has an expected revenue and earnings growth rate of 13.2% and 29.4%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 7.8% in the last 30 days.
Freeport-McMoRan Inc.
Freeport-McMoRan has been benefiting significantly from the massive growth of AI-powered data centers. FCX is a leading copper mining entity. The AI-powered data centers required a huge amount of copper, which is an essential component of power distribution, cooling networks, and dense server interconnections.
FCX’s mining operations are - North America copper mines, South America mining, Indonesia mining and Molybdenum. FCX’s copper production for 2025 was 3,383 million pounds. Indonesia, North America and South America accounted for roughly 39%, 31% and 30% of its copper production, respectively, in 2025.
Freeport-McMoRan has an expected revenue and earnings growth rate of 5.1% and 44.6%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 0.4% in the last 60 days.
GE Vernova Inc.
GE Vernova stands to gain from global nuclear power energy momentum, particularly through its strong forte in producing SMRs. GEV cemented its standing as one of the biggest long-term winners in the AI-boosted energy boom across nuclear, natural gas, electrification, and grid expansion.
The rapid buildout of AI data centers is forcing utilities to upgrade transmission networks and add new generation capacity, especially natural gas plants that can provide reliable baseload power. This trend is creating strong demand for GEV’s gas turbines and grid solutions.
GE Vernova has an expected revenue and earnings growth rate of 19.1% and 71.9%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 0.2% in the last 30 days.
Alcoa Corp.
Alcoa could be a potential dark horse for the AI-driven data center boom. Several critical data center units like cooling towers, server racks, radiators and many more are made out of aluminum. Solar panels, wind turbines and climatization units inside data centers are also built with aluminum.
The external economies of scale that AI-powered data centers will create for aluminum and other metal industries have not yet been revealed. Moreover, Alcoa is considering unlocking value from selling its temporarily or permanently closed sites with large existing power capacities, to big techs to convert them into AI data centers.
Alcoa has an expected revenue and earnings growth rate of 22% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 8.5% over the last 30 days.
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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Alcoa (AA) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Watch These 5 Non-Tech Stocks Thriving in 2026 on AI Data Center Boom

First Quantum Minerals (FQVLF) shares ended the last trading session 5% higher at $30.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.2% gain over the past four weeks.
The company shares have risen following reports that Panama is set to publish the final report of the comprehensive audit of the Cobre Panamá mine. The document prepared by SGS Panamá Control Services will be publicly accessible. The project's future rests on these findings and the ultimate decision of President José Raúl Mulino.
With 3 billion tons of proven and probable mineral reserves, Cobre Panamá is one of the largest copper mines opened globally in the past decade. Production at Cobre Panamá has been halted since November 2023 and placed into a phase of Preservation and Safe Management. This was after the country’s highest court unanimously ruled that the terms of its contract were unconstitutional amid nationwide protests.
This metal and minerals mining company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +300%. Revenues are expected to be $1.4 billion, up 14.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For First Quantum Minerals, the consensus EPS estimate for the quarter has been revised 43.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FQVLF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
First Quantum Minerals is part of the Zacks Mining - Non Ferrous industry. Freeport-McMoRan (FCX), another stock in the same industry, closed the last trading session 3.5% higher at $65.87. FCX has returned 11.8% in the past month.
Freeport-McMoRan's consensus EPS estimate for the upcoming report has changed -0.8% over the past month to $0.6. Compared to the company's year-ago EPS, this represents a change of +11.1%. Freeport-McMoRan currently boasts a Zacks Rank of #3 (Hold).
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%.
Free: See Our Top Stock And 4 Runners Up
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.

First Quantum Minerals (FQVLF) Soars 5.0%: Is Further Upside Left in the Stock?

The S&P 500 Index ($SPX) (SPY) today is down -0.14%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.27%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.34%. June E-mini S&P futures (ESM26) are down -0.17%, and June E-mini Nasdaq futures (NQM26) are down -0.38%.
Stock indexes are under pressure today after fresh US attacks on Iran boosted crude oil prices and fueled doubt over whether an end to the war is imminent. The US struck Iranian military targets for the second time this week, and Kuwait said it responded to Iranian missile and drone threats. Crude oil prices jumped more than +2% on the news.
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However, stock index futures bounced off their lows amid Fed-friendly US economic news. The Apr core PCE price index, the Fed's preferred inflation gauge, rose as expected. Also, April capital goods new orders unexpectedly declined, weekly jobless claims rose more than expected, and Q1 GDP was revised downward. The 10-year T-note yield gave up an early advance and is down -2 bp to 4.46%.
US weekly initial unemployment claims rose by +5,000 to 215,000, showing a weaker labor market than expectations of 211,000.
US Apr personal spending rose +0.5% m/m, right on expectations. Apr personal income was unchanged m/m, weaker than expectations of +0.4% m/m.
The US Apr core PCE price index, the Fed's preferred inflation gauge, rose +3.3% y/y, right on expectations and the largest increase in 2.5 years.
US Apr capital goods new orders nondefense ex-aircraft and parts unexpectedly fell -1.1% m/m versus expectations of a +0.4% m/m increase and the biggest decline in a year.
US Q1 GDP was revised downward to +1.6% (q/q annualized), weaker than expectations of no change at +2.0%. Q1 personal consumption was revised lower to +1.4% from the previously reported +1.6%, and the Q1 core PCE price index was revised upward to a 3-year high of +4.4% from the previously reported +4.3%.
Hawkish Fed comments are also weighing on stocks and bonds. Fed Governor Lisa Cook said inflation is headed in the wrong direction and she would be prepared to raise interest rates if that persists. Also, Minneapolis Fed President Neel Kashkari said US consumer prices are still "much too high" and that bringing down inflation remains his top priority.
Crude oil prices are up more than +2% today after US forces shot down four Iranian drones fired at a commercial ship and hit a launch site near the Strait of Hormuz. Also, the US Treasury added Iran's Persian Gulf Strait Authority to its Iran-related sanctions list to prevent Iran from profiting from vessels transiting the Strait of Hormuz by charging tolls. In addition, Israel stepped up attacks on Lebanon and said its ground forces would move further into the country, potentially complicating US-Iran talks on an interim peace deal.
The markets are discounting a 3% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
The generally favorable Q1 earnings season is winding down. As of today, 83% of the 479 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 mixed today. The Euro Stoxx 50 is down -0.46%. China's Shanghai Composite recovered from a 5-week low and closed up +0.12%. Japan's Nikkei Stock Average closed down -0.47%.
Interest Rates
June 10-year T-notes (ZNM6) today are up +4 ticks. The 10-year T-note yield is down -1.4 bp to 4.469%. T-note prices recovered from early losses and moved higher on Fed-friendly economic news. Weekly jobless claims rose more than expected, Apr core capital goods orders unexpectedly declined, Q1 GDP was revised lower, and the Apr core PCE price index, the Fed's preferred inflation gauge, rose as expected.
T-notes initially moved lower today from a +2% jump in WTI crude oil prices, which raised inflation expectations. Also, hawkish comments from Fed Governor Lisa Cook and Minneapolis Fed President Neel Kashkari undercut T-note prices, as they expressed concern about persistently high inflation. In addition, supply pressures are negative for T-notes as the Treasury will auction $44 billion of 7-year T-notes later today.
European government bond yields are moving lower today. The 10-year German Bund yield is down -0.1 bp to 2.986%. The 10-year UK gilt yield is down -1.5 bp to 4.843%.
The Eurozone May economic sentiment indicator rose +0.3 to 93.5, stronger than expectations of no change at 93.0.
ECB Chief Economist Philip Lane said the impact of the Iran war will take longer to show in the labor market, and the "second round" of the energy shock on the Eurozone will persist for a while.
Swaps are discounting a 92% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Mining stocks are faltering today with gold prices dropping to a 2-month low and silver prices falling to a 4-week low. Newmont Corp (NEM), Hecla Mining (HL), and Coeur Mining (CDE) are down more than -3%, and Anglogold Ashanti (AU) is down more than -2%. Also, Freeport McMoRan (FCX) and Barrick Mining (B) are down more than -1%.
Cryptocurrency-related stocks are falling today, with Bitcoin (^BTCUSD) down more than -3% to a 6-week low. Strategy (MSTR) is down more than -6% to lead losers in the Nasdaq 100, and MARA Holdings (MARA) and Galaxy Digital Holdings (GLXY) are down more than -4%. Also, Coinbase Global (COIN) is down more than -1%.
Drone-related stocks are rallying today after the Wall Street Journal reported the Trump administration is exploring funding deals with a group of drone companies. Unusual Machines (UMAC) is up more than +47%, and Red Cat (RCAT) is up more than +22%. Also, AIRO Group Holdings (AIRO) is up more than +13%, and AeroVironment (AVAV) and Kratos Defense & Security Solutions (KTOS) are up more than +11%.
Photronics (PLAB) is down more than -31% after forecasting Q3 adjusted EPS of 39 cents to 45 cents, weaker than the consensus of 54 cents.
Symbotic (SYM) is down more than -9% after Softbank Group is said to sell 5.6 million shares of its holdings of SYM in an unregistered block trade between $51 and $53.63 a share.
HP Inc. (HPQ) is down more than -2% after lowering the upper end of its full-year EPS estimate to $2.90-$3.10 from a previous view of $2.90-$3.20, citing rising memory and storage costs.
Snowflake (SNOW) is up more than +33% after reporting Q1 revenue of $1.39 billion, better than the consensus of $1.33 billion and raising its 2027 product revenue forecast to $5.84 billion from a previous estimate of $5.66 billion, well above the consensus of $5.68 billion.
Dollar Tree (DLTR) is up more than +16% to lead gainers in the S&P 500 after reporting Q1 adjusted EPS of $1.74, stronger than the consensus of $1.55, and raising its 2027 adjusted EPS estimate to $6.70 to $7.10 from a previous estimate of $6.50 to $6.90, above the consensus of $6.69.
Agilent (A) is up more than +15% after raising its full-year revenue forecast to $7.39 billion-$7.49 billion from a previous estimate of $7.3 billion-$7.5 billion yuan, above the consensus of $7.39 billion.
Best Buy (BBY) is up more than +13% after forecasting Q2 comparable sales up +1.00%, stronger than the consensus of down -0.32%.
Heico (HEI) is up more than +12% after reporting Q2 net sales of $1.38 billion, well above the consensus of $1.25 billion.
Caesars Entertainment (CZR) is up more than +1% after Fertitta Entertainment agreed to acquire the company for $17.6 billion, or $31 a share.
Earnings Reports(5/28/2026)
Autodesk Inc (ADSK), Best Buy Co Inc (BBY), Burlington Stores Inc (BURL), Costco Wholesale Corp (COST), Dell Technologies Inc (DELL), Dollar Tree Inc (DLTR), Elastic NV (ESTC), Gap Inc/The (GAP), Hormel Foods Corp (HRL), MongoDB Inc (MDB), NetApp Inc (NTAP), Okta Inc (OKTA), SentinelOne Inc (S), UiPath Inc (PATH).
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.

Stocks Pressured as Oil Prices Climb on US-Iran Clashes

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Basic Materials ETF (Symbol: IYM) where we have detected an approximate $249.2 million dollar outflow -- that's a 14.1% decrease week over week (from 9,550,000 to 8,200,000). Among the largest underlying components of IYM, in trading today Freeport-McMoran Copper & Gold (Symbol: FCX) is up about 0.2%, Ecolab Inc (Symbol: ECL) is off about 0.1%, and Air Products & Chemicals Inc (Symbol: APD) is lower by about 1.1%. For a complete list of holdings, visit the IYM Holdings page » The chart below shows the one year price performance of IYM, versus its 200 day moving average:
Looking at the chart above, IYM's low point in its 52 week range is $133.50 per share, with $189.805 as the 52 week high point — that compares with a last trade of $183.51. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further IYM Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.