Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products. It also provides SPEED gapfill high-density plasma chemical vapor deposition products; and Striker single-wafer atomic layer deposition products for dielectric film solutions. In addition, the company offers Flex for dielectric etch applications; Kiyo for conductor etch applications; Syndion for through-silicon via etch applications; and Versys metal products for metal etch processes. Further, it provides Coronus bevel clean products to enhance die yield; Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications; and Metryx mass metrology systems for high precision in-line mass measurement in semiconductor wafer manufacturing. The company sells its products and services to semiconductors industry in the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and internationally. The company was incorporated in 1980 and is headquartered in Fremont, California.

Lam Research выглядит как качественный, но уже дорогой бизнес: рентабельность и денежная генерация очень сильные, однако рынок явно закладывает в цену высокий уровень ожиданий. P/E на уровне 48.74 и P/S 15.02 существенно выше медианы отрасли, а P/B 28.84 и P/FCF 52.73 указывают на заметную премию к сектору, что ограничивает потенциал переоценки. При этом динамика качества действительно хорошая: ROE 65.79%, ROA 31.41% и ROI 48.17% растут по годам, как и операционная маржа 34.26% и чистая маржа 30.94%. Валовая маржа около 50% выглядит устойчивой и не ухудшается, что подтверждает сильную ценовую дисциплину и эффективность бизнеса. Выручка, валовая прибыль, операционная прибыль и чистая прибыль последовательно растут, что поддерживает фундаментальную оценку компании. Баланс тоже выглядит приемлемо: debt/equity 0.35 и current ratio 2.26 говорят о комфортной ликвидности и умеренной долговой нагрузке. С другой стороны, долгосрочный долг 3.73 млрд и очень высокая оценка по мультипликаторам делают акцию чувствительной к любому замедлению цикла в полупроводниковом оборудовании. Дивидендная доходность снизилась до нуля, поэтому дивидендный фактор больше не поддерживает инвестиционный кейс. В сумме фундаментал сильный, но текущая цена уже отражает значительную часть этого качества, поэтому для годового горизонта логична умеренная негативная корректировка прогноза. Для инвестора это означает, что компания остаётся отличным активом по качеству бизнеса, но вход по текущим уровням требует осторожности из-за завышенной оценки.

Lam Research Corporation

Сильный индекс, незначительно упал. Быки в растерянности.

Strong index, slightly down. The bulls are confused.

Сильный индекс, незначительно вырос. Рынок на стороне быков.

Strong index, slightly up. The market is on the bulls' side.

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.

Сильная прибыльность и рост показателей у LRCX сочетаются с очень дорогими мультипликаторами и слабой дивидендной поддержкой, поэтому прогноз стоит слегка снизить.

Friday, June 12, 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 Costco Wholesale Corp. (COST), Lam Research Corp. (LRCX) and KLA Corp. (KLAC), as well as two micro-cap stocks Blue Ridge Bankshares, Inc. (BRBS) and AXIL Brands, Inc. (AXIL). 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.
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's open and attempts 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 >>> SpaceX IPO Crowds Pre-Market Sentiment
Today's Featured Research Reports
Shares of Costco have gained +13.7% over the past six months against the Zacks Retail - Discount Stores industry’s gain of +14%. The company remains well-positioned due to its differentiated membership-based warehouse model, strong value proposition and loyal customer base. It continues to benefit from recurring membership income, high renewal rates and growing engagement from higher-value members.
Costco’s focus on offering quality merchandise at competitive prices supports steady traffic and reinforces customer loyalty. Costco is also enhancing its digital ecosystem through e-commerce, personalization tools, AI-driven product discovery and convenient fulfillment options, helping improve the member experience.
Also, the company is expanding its warehouse footprint and investing in productivity-enhancing initiatives to support long-term growth. Backed by a strong balance sheet, Costco is well-positioned to strengthen its market leadership and drive sustainable growth over time.
(You can read the full research report on Costco here >>>)
Lam Research’s shares have outperformed the Zacks Electronics - Semiconductors industry over the past six months (+120.9% vs. +50%). The company is benefiting from AI-driven increases in demand for deposition and etch tools across memory, foundry and advanced packaging industries.
Management lifted its calendar year 2026 WFE outlook and sees growth continuing into 2027 as customers work through capacity and cleanroom constraints. Record Q3 results and a higher Q4 outlook reflect momentum in leading-edge foundry and HBM-driven DRAM, while NAND conversion activity is being pulled forward.
Customer Support is scaling with a larger installed base and new productivity services that can lift output and yield. Strong cash flow and an aggressive shareholder return policy are other positives. However, global spending on mature nodes is likely to remain soft in the near term. Growing trade and tariff tensions between the United States and China are a concern.
(You can read the full research report on Lam Research here >>>)
Shares of KLA have outperformed the Zacks Electronics - Miscellaneous Products industry over the past six months (+97.4% vs. +51.7%). The company continues to benefit from AI-driven spending in leading-edge foundry/logic, high-bandwidth memory and advanced packaging, supporting market share gains in process control and steady services growth that helps anchor cash generation.
Management expects its advanced packaging portfolio revenue to rise to about $1 billion in 2026 and sees wafer equipment demand strengthening into 2027, with June quarter guidance calling for another step up in revenue. A high free cash flow profile supports ongoing dividends and repurchases, including a higher quarterly dividend and a new $7 billion authorization.
However, KLAC’s prospects remains balanced for now given export control and tariff uncertainty, customer concentration, and gross margin sensitivity to elevated DRAM-related system costs expected to persist through at least 2026.
(You can read the full research report on KLA here >>>)
Blue Ridge Bankshares’ shares have outperformed the Zacks Banks - Northeast industry over the past year (+41.6% vs. +40%). This microcap company with a market capitalization of $298.51 million is transitioning to a traditional community banking model post-completion of its regulatory remediation efforts. Capital remains above regulatory requirements despite a large special dividend, while liquidity is strong and credit quality continues to improve.
The exit from fintech-related activities has simplified operations, while brokered deposit reduction and expense controls support a leaner model. Yet, earnings remain pressured by balance-sheet contraction, lower loan yields and reduced revenue diversification. Profitability still relies partly on non-core items, while the loan portfolio remains concentrated in real estate.
The valuation reflects investor caution toward earnings recovery. While the successful execution of growth and profitability initiatives could drive upside, failure to rebuild sustainable core earnings may limit shareholder returns.
(You can read the full research report on Blue Ridge Bankshares here >>>)
Shares of AXIL Brands have outperformed the Zacks Consumer Products - Staples industry over the past year (+24.4% vs. -7.5%). This microcap company with a market capitalization of $44.18 million sees its investment thesis driven by its core hearing enhancement and protection business, supported by expanding retail and online distribution.
AXIL Brands is building a more diversified revenue base by complementing its direct-to-consumer model with a growing wholesale presence. Despite tariff-related pressure and elevated marketing spending, AXIL has remained profitable while investing in growth, reflecting disciplined execution. The emerging marketing services segment provides a potential high-margin, complementary revenue stream by leveraging existing digital marketing capabilities.
Additionally, the hair and skin care business offers strategic optionality, with corporate actions creating flexibility for future value-maximizing opportunities while management remains focused on scaling the core hearing platform.
(You can read the full research report on AXIL Brands here >>>)
Other noteworthy reports we are featuring today include Kinder Morgan, Inc. (KMI), Chipotle Mexican Grill, Inc. (CMG) and Cytokinetics, Inc. (CYTK).
Mark Vickery
Senior Editor
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
Kinder Morgan's (KMI) Take-or-Pay Contracts Support Stable Cash Flows
Per the Zacks analyst, Kinder Morgan's earnings and cash flows are anchored by long-term take-or-pay contracts, which protect it from commodity price swings and other macro headwinds.
Chipotle (CMG) Banks on Strategic Initiatives, High Costs Ail
Per the Zacks analyst, Chipotle's focus on Recipe for Growth strategy, unit expansion and Zipline pilot bode well. However, the uncertain macro environment and high costs pose concerns.
Myqorzo Approval Fuels Cytokinetics (CYTK), Regulatory Setbacks a Woe
Per the Zacks analyst, the FDA approval of Myqorzo is a significant boost for Cytokinetics given the market potential. However, regulatory setbacks are a major concern for other pipeline candidates.
Tenant Demand, Strategic Acquisitions Support Vornado's (VNO) Growth
Per the Zacks analyst, Vornado benefits from strong tenant demand for premium office space, strategic acquisitions and adequate liquidity despite New York assets concentration and competition.
Key Acquisitions, Rising Air Travel Demand Boost AAR Corp. (AIR)
Per the Zacks analyst, AAR Corp. is expected to see strong growth in its parts supply business, supported by rising air travel demand. Disciplined acquisition strategy will also boost its growth.
Tissue Reconstruction Momentum Aids Integra (IART), FX Woes Stay
The Zacks analyst is impressed with Integra LifeSciences' robust Tissue Reconstruction performance, led by Integra Skin, DuraSorb and the PriMatrix launch. Adverse currency impacts may hurt results.
AEG Buyout Enhances ICF's (ICFI) Offerings Amid High Costs
Per the Zacks analyst, Applied Energy Group's (AEG) suite of technology and advisory services to electric and gas utilities improves ICF's offerings. Rising costs are an overhang.
New Upgrades
Credit Sales, Receivables Growth Drive Bread Financial (BFH)
Per the Zacks analyst, Bread Financial is set to grow on credit sales growth driven by existing partners, as well as new product and brand partner additions. Yet, high expenses weigh on margins.
Central Garden & Pet (CENT) Benefits From Digital and Cost Initiatives
Per the Zacks analyst, Central Garden & Pet is expanding through e-commerce growth, innovation, and cost efficiencies. The Cost and Simplicity program is streamlining operations.
Helen of Troy (HELE) Gains on Strength in Leadership Brands
Per the Zacks analyst, Helen of Troy is benefiting from strong performance in its Leadership Brands, with growth in key categories, improved pricing and continued innovation supporting its outlook.
New Downgrades
Weak Demand & Cost Pressures Ail International Paper (IP)
The Zacks analyst is concerned that weak demand in end markets coupled with higher input costs and maintenance outage expenses will continue to impact International Paper's results.
Plexus (PLXS) Faces Near-Term FCF Pressure Amid Growth Push
Per the Zacks analyst, the free cash flow outlook cut and healthcare softness add near-term risk for Plexus even as strong program wins and demand support a strong outlook.
Lower IT Spending to Hurt DXC Technology's (DXC) Prospects
Per the Zacks analyst, DXC Technology's growth prospects might be hurt by soft IT spending as organizations are pushing back their large IT investment plans amid the macroeconomic headwinds.
Beyond Nvidia: AI's Second Wave Is Here
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.
See Stocks Now >>
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Top Analyst Reports for Costco, Lam Research & KLA

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Kraft Heinz Co (Symbol: KHC), where a total of 63,437 contracts have traded so far, representing approximately 6.3 million underlying shares. That amounts to about 43.7% of KHC's average daily trading volume over the past month of 14.5 million shares. Especially high volume was seen for the $25 strike call option expiring June 18, 2026, with 14,984 contracts trading so far today, representing approximately 1.5 million underlying shares of KHC. Below is a chart showing KHC's trailing twelve month trading history, with the $25 strike highlighted in orange:
Lam Research Corp (Symbol: LRCX) options are showing a volume of 42,295 contracts thus far today. That number of contracts represents approximately 4.2 million underlying shares, working out to a sizeable 42.7% of LRCX's average daily trading volume over the past month, of 9.9 million shares. Especially high volume was seen for the $360 strike call option expiring June 12, 2026, with 2,129 contracts trading so far today, representing approximately 212,900 underlying shares of LRCX. Below is a chart showing LRCX's trailing twelve month trading history, with the $360 strike highlighted in orange:
And Seagate Technology Holdings PLC (Symbol: STX) saw options trading volume of 12,773 contracts, representing approximately 1.3 million underlying shares or approximately 40.2% of STX's average daily trading volume over the past month, of 3.2 million shares. Especially high volume was seen for the $800 strike put option expiring July 17, 2026, with 1,101 contracts trading so far today, representing approximately 110,100 underlying shares of STX. Below is a chart showing STX's trailing twelve month trading history, with the $800 strike highlighted in orange:
For the various different available expirations for KHC options, LRCX options, or STX options, visit StockOptionsChannel.com.
Further KHC Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Friday Option Activity: KHC, LRCX, STX

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +1.75%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.86%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +3.29%. June E-mini S&P futures (ESM26) rose +1.73%, and June E-mini Nasdaq futures (NQM26) rose +3.26%.
Stock indexes settled sharply higher on Thursday, after geopolitical risks eased when President Trump canceled planned strikes on Iran and signaled that a peace deal to end the war was imminent. Chipmakers and other AI-related stocks rallied on Thursday, leading the broader market higher. Also, Thursday’s -2% plunge in WTI crude oil sparked a rally in airline stocks and cruise line operators. However, software stocks retreated on Thursday, led by an -8% slump in Oracle after it reported higher-than-expected capital expenses, driven by increased data spending.
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Stocks raced to their highs Thursday afternoon when President Trump said he canceled planned military strikes against Iran, citing "discussions" with Iranian leadership. He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until this transaction is finalized."
Stocks were initially weighed down on Thursday amid concerns about the escalation of Middle East hostilities after President Trump said the US will be hitting Iran very hard tonight and will "at some point" take control of Kharg Island, Iran's key export hub, thus taking control of Iran's oil and gas markets.
Stocks were also pressured by Thursday’s US economic reports, which showed that weekly US jobless claims unexpectedly rose to a 4-month high and that May producer prices were mixed.
Late Wednesday, President Trump said the US will continue bombing Iran if it refuses to agree to an interim peace deal. Mr. Trump ordered multiple strikes on Iranian targets on Wednesday, and Iran retaliated by firing on US bases in Kuwait, Bahrain, and Jordan. The increase in tensions risks derailing peace talks between Iran and the US, thus keeping the Strait of Hormuz closed, and further tightening global energy supplies.
US weekly initial unemployment claims unexpectedly rose +4,000 to a 4-month high of 229,000, showing a weaker labor market than expectations of a decline to 220,000.
US May PPI final demand rose +1.1% m/m and +6.5% y/y, stronger than expectations of +0.7% m/m and +6.4% y/y, with the +6.5% y/y gain being the largest year-on-year increase in 3.5 years. However, May PI ex food and energy rose +0.4% m/m and +4.9% y/y, weaker than expectations of +0.5% m/m and +5.4% y/y.
WTI crude oil prices (CLN26) are extremely volatile, whipsawing higher and lower several times on Thursday. Crude prices today initially gave up an overnight advance of more than +2% and fell more than -2% after President Trump said he canceled planned strikes on Iran and that a peace deal to end the war was imminent. Crude prices initially rallied more than +2% on Thursday when President Trump said the US would keep attacking Iran and threatened to seize the Kharg Island oil terminal, Iran’s main crude exporting hub.
The markets are discounting a 0% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 closed up +0.78%. China's Shanghai Composite closed down -0.16%. Japan's Nikkei Stock Average recovered from a 2.5-week low and closed up +0.06%.
Interest Rates
September 10-year T-notes (ZNU6) on Thursday closed up +17 ticks, and the 10-year T-note yield fell -9.3 bp to 4.459%. T-notes rallied on Thursday after US weekly jobless claims unexpectedly rose to a 4-month high and May producer prices ex-food and energy rose less than expected, dovish factors for Fed policy. T-notes also garnered support on Thursday from the -2% fall in WTI crude oil prices, which lowered inflation expectations. The 10-year breakeven inflation rate fell to a 2.5-month low of 2.303% on Thursday.
Gains in T-notes were limited after stocks rallied sharply, which curbed safe-haven demand for government debt securities. Also, slack demand for the Treasury’s $22 billion auction of 30-year T-bonds was negative for T-notes, as the auction had a bid-to-cover ratio of 2.33, below the 10-auction average of 2.39.
European government bond yields moved lower on Thursday. The 10-year German Bund yield fell from a 2.5-week high of 3.091% and finished down -4.5 bp to 3.032%. The 10-year UK gilt yield fell -2.6 bp to 4.905%.
The ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth."
The ECB cut its 2026 Eurozone GDP estimate to +0.8% from a previous estimate of +0.9% and raised its 2026 Eurozone inflation ex-food and energy forecast to +2.5% from a previous forecast of +2.3%.
Swaps are discounting a 62% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Chipmakers and AI-infrastructure stocks rallied sharply on Thursday amid signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending. Sandisk (SNDK) closed up more than +14% to lead gainers in the S&P 500 and Nasdaq 100, and KLA Corp (KLAC) closed up more than +13%. Also, Lam Research (LRCX) closed up more than +12%, and Applied Materials (AMAT), ARM Holdings Plc (ARM), Marvell Technology (MRVL), and Micron Technology (MU) closed up more than +11%. In addition, Intel (INTC) and ASML Holding NV (ASML) closed up more than +9%, and Advanced Micro Devices (AMD) and Western Digital (WDC) closed up more than +7%. Finally, Seagate Technology Holdings Plc (STX), NXP Semiconductors NV (NXPI), and Qualcomm (QCOM) closed up more than +6%, and Microchip Technology (MCHP) and Texas Instruments (TXN) closed up more than +5%.
Airline stocks and cruise line operators moved sharply higher on Thursday after WTI crude oil fell more than -2%, lowering fuel costs and boosting the companies’ profitability prospects. Alaska Air Group (ALK) closed up more than +11%, and United Airlines Holdings (UAL) and American Airlines Group (AAL) closed up more than +9%. Also, Carnival (CCL) closed up more than +8%, and Southwest Airlines (LUV) and Royal Caribbean Cruises (RCL) closed up more than +7%. In addition, Norwegian Cruise Line Holdings (NCLH) and Delta Air Lines (DAL) closed up more than +6%.
Cryptocurrency-exposed stocks moved higher on Thursday as Bitcoin (^BTCUSD) rose more than +3%. Galaxy Digital Holdings (GLXY) closed up more than +10%, and Riot Platforms (RIOT) closed up more than +8%. Also, MARA Holdings (MARA) closed up more than +7%, Coinbase Global (COIN) closed up more than +4%, and Strategy (MSTR) closed up more than +3%.
Software stocks are under pressure today, limiting gains in the overall market, with Oracle (ORCL) down more than -8% to lead losers in the S&P 500 after forecasting full-year capital spending of $70 billion, $20-25 billion higher than expected due to prepayment for some components. Also, Autodesk (ADSK) closed down more than -7% to lead losers in the Nasdaq 100, and Adobe Systems (ADBE) closed down more than -6%. In addition, Workday (WDAY) closed down more than -5%, and Salesforce (CRM) closed down more than -2% to lead losers in the Dow Jones Industrials. Finally, ServiceNow (NOW), Atlassian Corp (TEAM), and Intuit (INTU) closed down more than -2%, and Microsoft (MSFT) closed down more than -1%.
Energy stocks and service providers slumped on Thursday after WTI crude oil fell more than -2%. Devon Energy (DVN) closed down more than -4%, and ConocoPhillips (COP) and APA Corp (APA) closed down more than -3%. Also, Chevron (CVX), Diamondback Energy (FANG), Exxon Mobil (XOM), and Occidental Petroleum (OXY) closed down more than -2%.
Voyager Technologies (VOYG) closed up more than +16% after BTIG initiated coverage on the stock with a buy recommendation and a price target of $55.
Navan (NAVN) closed up more than +9% after raising its full-year revenue forecast to $907 million-$913 million from a previous estimate of $866 million-$874 million, well above the consensus of $871.7 million.
Eaton Corp Plc (ETN) closed up more than +5% after agreeing to merge its mobility business with Dana Inc in a deal valuing the combined company at roughly $10 billion, including debt.
Allegion Plc (ALLE) closed up more than +3% after Longbow Research upgraded the stock to buy from neutral with a price target of $165.
Earnings Reports(6/12/2026)
America's Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Friedman Industries Inc (FRD), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), Richtech Robotics Inc (RR), Seneca Foods Corp (SENEB), Whitestone REIT (WSR).
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.
More news from Barchart
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 Higher on Middle East Peace Hopes

The S&P 500 (SNPINDEX:^GSPC) rose 1.75% to 7,394.30, the Nasdaq Composite (NASDAQINDEX:^IXIC) jumped 2.54% to 25,809.66, and the Dow Jones Industrial Average (DJINDICES:^DJI) climbed 1.86% to 50,848.75 as a de-escalation of U.S.-Iran tensions lead a broad rebound.
Market movers
Memory stocks surged today as Micron Technology bounced almost 12% to erase this week’s losses and Sandisk gained 14%. An analyst upgrade boosted Intel by 10%. Nvidia was also in the green, as semiconductors spearheaded the tech recovery.
In what’s becoming a common occurrence for AI hyperscalers, Oracle tumbled despite an earnings beat as investors digested its guidance and spending plans. Lam Research increased on renewed AI‑hardware demand optimism.
What this means for investors
Stocks recovered today as renewed hopes for a U.S.-Iran peace deal ended a two-day selloff. Even hotter-than-expected wholesale inflation data didn’t dampen investor enthusiasm. May’s Producer Price Index rose 1.1% in May, taking the annual rate to 6.5%.
President Trump said he’d canceled tonight’s planned strikes on Iran and that negotiations were progressing. WTI crude oil fell back below $90 a barrel, and U.S. Treasury yields dropped. The stock rebound is a good reminder of how quickly markets can change direction, and underscores the importance of staying invested.
What promises to be a record-breaking IPO from SpaceX tomorrow dominated headlines. The company announced it would sell 555.6 million shares at $135 each, raising $75 billion and valuing it at a whopping $1.77 trillion. While individual investors are considering whether to buy SpaceX, there’s a broader liquidity concern on Wall Street — as investors might reduce exposure to other megacap techs to free up cash for the rocket-AI-communications stock.
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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.

Stock Market Today, June 11: Micron, Intel, and Nvidia Lead Rebound and SpaceX IPO Approaches

Key Points
The Producer Price Index rose 1.1% in May, above expectations, with energy costs accounting for 80% of the increase.
Chip equipment stocks like Lam Research and Micron led the morning rally with impressive jumps, though they didn't move the needle for the top indexes.
SpaceX is set to debut Friday at a $1.75 trillion valuation, and some analysts think this week's tech selling reflects investors setting funds aside for the offering.
After getting knocked around for three days, Wall Street decided it was time to get back up on Thursday morning.
The Dow Jones Industrial Average (DJINDICES: ^DJI) climbed 0.7% by noon, while the S&P 500 (SNPINDEX: ^GSPC) added 0.4%. The Nasdaq Composite (NASDAQINDEX: ^IXIC) was up 0.6%, though it had been running as high as 1.3% earlier before losing some steam. A brief scare around 11 a.m., when a false hazmat alarm triggered a Pentagon lockdown, sent all three indexes into a brief dip toward flat for a few minutes. The all-clear came quickly, and so did the buyers.
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Behind Thursday's modest bounce
Semiconductor stocks led the morning rally after entering correction territory earlier this week.
Chip equipment makers posted particularly strong gains, with Lam Research (NASDAQ: LRCX) up 8.4% and Micron Technology (NASDAQ: MU) rising 3.6%. Analysts have been raising price targets and talking up AI-driven demand. However, these stocks are too small to make a serious difference to any of the leading indexes today, despite their large jumps.
Likewise, Oracle (NYSE: ORCL) barely made a ripple on the S&P 500 index, and isn't even a member of the Nasdaq and Dow Jones lists. The averages barely noticed the software giant's beat-and-raise report with a $70 billion next-year budget for capital expenses, which sent the stock as much as 12.9% lower in the morning.
On the other hand, Google parent Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is down just 2.2% with no huge news of its own. Yet, it is moving the Nasdaq Composite and S&P 500 indexes more than any other stock today. That's the index-moving power of a $4.2 trillion market cap.
The morning's inflation data didn't help the market mood. The Producer Price Index rose 1.1% in May, hotter than the 0.7% Wall Street expected. Year-over-year, wholesale prices are up 6.5%, the biggest jump in over three years. The culprit is mostly energy, as oil-related costs accounted for about 80% of the increase.
Meanwhile, the U.S.-Iran situation remains fluid. President Trump threatened further military action overnight, and Iran claimed it had closed the Strait of Hormuz. U.S. officials dispute that, and reports suggest diplomatic back channels are still active. It's hard to tell what's going on behind the scenes in and around Iran. Oil prices reflected the uncertainty, with West Texas Intermediate up by 0.5%.
Looking ahead
Thursday's session reflects a market caught between competing forces. Investors are bargain-hunting in semiconductors after a 10% correction, but sticky inflation and geopolitical risk are capping the enthusiasm. The iShares Bitcoin Trust ETF (NASDAQ: IBIT) rose 1.2%, reverting to Bitcoin's (CRYPTO: BTC) long-running pattern of rising alongside volatile equities rather than acting as a traditional safe haven.
All eyes now turn to the Friday session, when SpaceX (expected ticker: SPCX) is expected to debut on public markets at a valuation near $1.75 trillion. Some analysts believe this week's tech weakness partly reflects investors selling existing positions to make room for the largest stock offering ever.
For investors with a longer time horizon, the lesson is familiar: one green day doesn't erase the questions that caused the red ones. Inflation, interest rates, and geopolitics haven't gone anywhere. They're just taking a breather. Time will tell how long the uptick lasts.
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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.

Dow Jones and S&P 500 Climb Thursday as Wall Street Shakes Off Three-Day Slump Before SpaceX IPO

The S&P 500 Index ($SPX) (SPY) today is up +0.03%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.42%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.37%. June E-mini S&P futures (ESM26) are up +0.03%, and June E-mini Nasdaq futures (NQM26) are up +0.40%.
Stock indexes are moving higher today, as chipmakers and other AI-related stocks climb to lift the broader market and recover some of Wednesday’s sharp losses. However, software stocks are on the defensive today, led by an -11% slump in Oracle after it reported higher-than-expected capital expenses, driven by increased data spending.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks are being undercut as crude oil prices erased early losses and whipsawed higher on concerns about the escalation of Middle East hostilities after President Trump said the US will be hitting Iran very hard tonight and will "at some point" take control of Kharg Island, Iran's key export hub, thus taking control of Iran's oil and gas markets.
Stocks are also pressured by today’s US economic reports, which showed that weekly US jobless claims unexpectedly rose to a 4-month high and that May producer prices were mixed.
Late Wednesday, President Trump said the US will continue bombing Iran if it refuses to agree to an interim peace deal. Mr. Trump ordered multiple strikes on Iranian targets on Wednesday, and Iran retaliated by firing on US bases in Kuwait, Bahrain, and Jordan. The increase in tensions risks derailing peace talks between Iran and the US, thus keeping the Strait of Hormuz closed, and further tightening global energy supplies.
US weekly initial unemployment claims unexpectedly rose +4,000 to a 4-month high of 229,000, showing a weaker labor market than expectations of a decline to 220,000.
US May PPI final demand rose +1.1% m/m and +6.5% y/y, stronger than expectations of +0.7% m/m and +6.4% y/y, with the +6.5% y/y gain being the largest year-on-year increase in 3.5 years. However, May PI ex food and energy rose +0.4% m/m and +4.9% y/y, weaker than expectations of +0.5% m/m and +5.4% y/y.
WTI crude oil prices (CLN26) are extremely volatile, whipsawing higher and lower several times today. Crude prices today initially gave up an overnight advance of more than +2% and fell more than -1% as concerns over the escalation of the US-Iran conflict eased after the US ended strikes against Iran. However, prices then rallied more than +1% again when President Trump said the US would keep attacking Iran and threatened to seize the Kharg Island oil terminal, Iran’s main crude exporting hub.
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.89%. China's Shanghai Composite closed down -0.16%. Japan's Nikkei Stock Average recovered from a 2.5-week low and closed up +0.06%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +4 ticks, and the 10-year T-note yield is down -3.0 bp to 4.523%. T-notes are moving higher today after US weekly jobless claims unexpectedly rose to a 4-month high and May producer prices ex-food and energy rose less than expected, dovish factors for Fed policy.
Gains in T-notes are limited after crude oil prices whipsawed higher after President Trump said the US will keep on attacking Iran and threatened to seize Kharg Island, Iran’s main crude exporting hub. Also, supply pressures are negative for T-notes, as the Treasury will auction $22 billion of 30-year T-bonds later today.
European government bond yields are moving lower today. The 10-year German Bund yield fell from a 2.5-week high of 3.091% and is down -4.1 bp to 3.035%. The 10-year UK gilt yield is down -2.6 bp to 4.905%.
The ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth."
The ECB cut its 2026 Eurozone GDP estimate to +0.8% from a previous estimate of +0.9%, and raised its 2026 Eurozone inflation ex-food and energy forecast to +2.5% from a previous forecast of +2.3%.
Swaps are discounting a 64% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Chipmakers and AI-infrastructure stocks are moving higher today on signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending. KLA Corp (KLAC) is up more than +8% to lead gainers in the S&P 500 and Nasdaq 100, and Applied Materials (AMAT), Intel (INTC), Lam Research (LRCX), and Sandisk (SNDK) are up more than +6%. Also, ARM Holdings Plc (ARM) is up more than +5%, and ASML Holding NV (ASML) is up more than +4%. In addition, Marvell Technology (MRVL), Seagate Technology Holdings Plc (STX), Advanced Micro Devices (AMD), and Analog Devices (ADI) are up more than +3%, and Microchip Technology (MCHP), NXP Semiconductors NV (NXPI), Micron Technology (MU), Texas Instruments (TXN), and Western Digital (WDC) are up more than +2%.
Software stocks are under pressure today, limiting gains in the overall market, with Oracle (ORCL) down more than -11% to lead losers in the S&P 500 after forecasting full-year capital spending of $70 billion, $20-25 billion higher than expected due to prepayment for some components. Also, Adobe Systems (ADBE) is down more than -5% to lead losers in the Nasdaq 100, and Salesforce (CRM) is down more than -3% to lead losers in the Dow Jones Industrials. In addition, ServiceNow (NOW), Atlassian Corp (TEAM), Autodesk (ADSK), Intuit (INTU), and Workday (WDAY) are down more than -3%, and Microsoft (MSFT) is down more than -2%.
Navan (NAVN) is up more than +12% after raising its full-year revenue forecast to $907 million-$913 million from a previous estimate of $866 million-$874 million, well above the consensus of $871.7 million.
Voyager Technologies (VOYG) is up more than +11% after BTIG initiated coverage on the stock with a buy recommendation and a price target of $55.
Allegion Plc (ALLE) is up more than +1% after Longbow Research upgraded the stock to buy from neutral with a price target of $165.
Eaton Corp Plc (ETN) is up more than +1% after agreeing to merge its mobility business with Dana Inc in a deal valuing the combined company at roughly $10 billion, including debt.
PDD Holdings (PDD) is down more than -2% after China’s State Administration for Market Regulation summoned the country’s leading e-commerce companies over misleading promotions and false advertising.
Earnings Reports(6/11/2026)
Adobe Inc (ADBE), Lennar Corp (LEN), RH (RH).
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 Supported by a Rebound in Chipmakers and AI Stocks

The S&P 500 Index ($SPX) (SPY) today is up +0.20%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.53%. June E-mini S&P futures (ESM26) are up +0.29%, and June E-mini Nasdaq futures (NQM26) are up +0.60%.
Stock indexes are moving higher today, as chipmakers and other AI-related stocks climb to lift the broader market and recover some of Wednesday’s sharp losses. However, software stocks are on the defensive today, led by a -10% slump in Oracle after it reported higher-than-expected capital expenses, driven by increased data spending.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks are being undercut as crude oil prices erased early losses and whipsawed higher on concerns about the escalation of Middle East hostilities after President Trump said the US will be hitting Iran very hard tonight and will "at some point" take control of Kharg Island, Iran's key export hub, thus taking control of Iran's oil and gas markets.
Stocks were also pressured by today’s US economic reports, which showed that weekly US jobless claims unexpectedly rose to a 4-month high and that May producer prices were mixed.
Late Wednesday, President Trump said the US will continue bombing Iran if it refuses to agree to an interim peace deal. Mr. Trump ordered multiple strikes on Iranian targets on Wednesday, and Iran retaliated by firing on US bases in Kuwait, Bahrain, and Jordan. The increase in tensions risks derailing peace talks between Iran and the US, thus keeping the Strait of Hormuz closed, and further tightening global energy supplies.
US weekly initial unemployment claims unexpectedly rose +4,000 to a 4-month high of 229,000, showing a weaker labor market than expectations of a decline to 220,000.
US May PPI final demand rose +1.1% m/m and +6.5% y/y, stronger than expectations of +0.7% m/m and +6.4% y/y, with the +6.5% y/y gain being the largest year-on-year increase in 3.5 years. However, May PI ex food and energy rose +0.4% m/m and +4.9% y/y, weaker than expectations of +0.5% m/m and +5.4% y/y.
WTI crude oil prices (CLN26) are extremely volatile, whipsawing higher and lower several times today. Crude prices today initially gave up an overnight advance of more than +2% and fell more than -1% as concerns over the escalation of the US-Iran conflict eased after the US ended strikes against Iran. However, prices then rallied more than +1% again when President Trump said the US would keep attacking Iran and threatened to seize the Kharg Island oil terminal, Iran’s main crude exporting hub.
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.41%. China's Shanghai Composite closed down -0.16%. Japan's Nikkei Stock Average recovered from a 2.5-week low and closed up +0.06%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +4 ticks, and the 10-year T-note yield is down -2.2 bp to 4.530%. T-notes are moving higher today after US weekly jobless claims unexpectedly rose to a 4-month high and May producer prices ex-food and energy rose less than expected, dovish factors for Fed policy.
Gains in T-notes are limited after crude oil prices whipsawed higher after President Trump said the US will keep on attacking Iran and threatened to seize Kharg Island, Iran’s main crude exporting hub. Also, supply pressures are negative for T-notes, as the Treasury will auction $22 billion of 30-year T-bonds later today.
European government bond yields are moving lower today. The 10-year German Bund yield fell from a 2.5-week high of 3.091% and is down -2.8 bp to 3.048%. The 10-year UK gilt yield is down -1.2 bp to 4.919%.
The ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth."
The ECB cut its 2026 Eurozone GDP estimate to +0.8% from a previous estimate of +0.9%, and raised its 2026 Eurozone inflation ex-food and energy forecast to +2.5% from a previous forecast of +2.3%.
Swaps are discounting a 70% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Chipmakers and AI-infrastructure stocks are moving higher today on signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending. Intel (INTC) is up more than +8% to lead gainers in the S&P 500 and Nasdaq 100, and Applied Materials (AMAT) and Lam Research (LRCX) are up more than +6%. Also, KLA Corp (KLAC) and Sandisk (SNDK) are up more than +4%, and ARM Holdings Plc (ARM), ASML Holding NV (ASML), and Marvell Technology (MRVL) are up more than +3%. In addition, Advanced Micro Devices (AMD) and Microchip Technology (MCHP) are up more than +2%.
Software stocks are under pressure today, limiting gains in the overall market, with Oracle (ORCL) down more than -10% to lead losers in the S&P 500 after forecasting full-year capital spending of $70 billion, $20-25 billion higher than expected due to prepayment for some components. Also, Atlassian Corp (TEAM) and ServiceNow (NOW) are down more than -3%. Salesforce (CRM) is down more than -2% to lead losers in the Dow Jones Industrials. In addition, Adobe Systems (ADBE) and Workday (WDAY) are down more than -2%, and Microsoft (MSFT), Intuit (INTU), and Autodesk (ADSK) are down more than -1%.
Navan (NAVN) is up more than +16% after raising its full-year revenue forecast to $907 million-$913 million from a previous estimate of $866 million-$874 million, well above the consensus of $871.7 million.
Voyager Technologies (VOYG) is up more than +10% after BTIG initiated coverage on the stock with a buy recommendation and a price target of $55.
Allegion Plc (ALLE) is up more than +2% after Longbow Research upgraded the stock to buy from neutral with a price target of $165.
Eaton Corp Plc (ETN) is up more than +1% after agreeing to merge its mobility business with Dana Inc in a deal valuing the combined company at roughly $10 billion, including debt.
PDD Holdings (PDD) is down more than -3% to lead losses in the Nasdaq 100 after China’s State Administration for Market Regulation summoned the country’s leading e-commerce companies over misleading promotions and false advertising.
Earnings Reports(6/11/2026)
Adobe Inc (ADBE), Lennar Corp (LEN), RH (RH).
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 Edge Higher as Chipmakers and AI Stocks Rebound

Lam Research Corporation LRCX has been one of the biggest winners in the semiconductor space this year. The company has been benefiting from the explosive growth of artificial intelligence (AI) and high-performance computing (HPC), which are driving unprecedented demand for its wafer fabrication equipment and services used for chip manufacturing. Shares of Lam Research have surged 86.8% year to date, significantly outperforming the broader Zacks Electronics - Semiconductor industry's gain of 46.3%.
The stock has also delivered stronger returns than several industry peers, including Amkor Technology, Inc. AMKR, Cirrus Logic, Inc. CRUS and Broadcom Inc. AVGO. Year to date, shares of Amkor Technology, Cirrus Logic and Broadcom have soared 75.5%, 33.3% and 7.4%, respectively.
While such a massive rally may make some investors question whether the stock has run too far, Lam Research's strong fundamentals suggest there could still be room for upside. The company remains one of the clearest beneficiaries of the AI infrastructure boom, and demand trends continue to work heavily in its favor.
Lam Research YTD Price Return Performance
Image Source: Zacks Investment Research
AI-Led Demand Boosts LRCX’s Long-Term Prospects
Lam Research is capitalizing on AI trends. It builds the tools chipmakers need to manufacture next-generation semiconductors, including high-bandwidth memory (HBM) and chips used in advanced packaging. These technologies are vital for powering AI and cloud data centers.
Lam Research’s products are not only critical but also innovative. For example, its ALTUS ALD tool uses molybdenum to improve speed and efficiency in chip production. Another product, the Aether platform, helps chipmakers achieve higher performance and density. These are essential capabilities as demand for advanced AI chips continues to increase.
In 2025, Lam Research’s revenues from advanced packaging grew significantly, and management anticipates more than 50% year-over-year growth for 2026. The industry’s migration to backside power distribution and dry-resist processing presents growth opportunities for LRCX’s cutting-edge fabrication solutions.
These trends are aiding Lam Research’s financial performance. The company has demonstrated consistent execution, maintaining quarterly revenues of more than $5 billion for the past four consecutive quarters, reflecting solid demand from leading chipmakers such as Taiwan Semiconductor Manufacturing and Samsung.
Lam Research’s Resilient Financial Results
Despite ongoing macroeconomic challenges, geopolitical issues, and trade and tariff wars, LRCX’s financials remain impressive. In the company’s last reported financial results for the third quarter of fiscal 2026, total revenues rose 24% year over year to $5.84 billion and beat the Zacks Consensus Estimate by 1.3%, primarily driven by continued demand across the Systems and Customer Support Business Group segments.
Lam Research reported third-quarter non-GAAP earnings of $1.47 per share, which topped the consensus mark by 8.1%. The bottom line also increased 41.3% on a year-over-year basis.
Lam Research Corporation Price, Consensus and EPS Surprise
Expanding its manufacturing operations in Asia has helped the company lower costs and improve margins. In the third quarter, Lam Research’s non-GAAP operating margin rose to 35%, up 220 basis points from the year-ago quarter, which is impressive, considering the challenging macroeconomic environment.
This strong financial performance reinforces Lam Research’s resilience in navigating an evolving semiconductor cycle. As demand grows for advanced nodes, LRCX’s specialized technology in etch and deposition tools for high-aspect-ratio structures positions it well to capitalize on this trend. The company’s third-quarter results also highlight its effective cost management, which has enabled sustained profitability.
With AI-driven investments accelerating, Lam Research’s leading position in etch and deposition makes it a key beneficiary of the ongoing semiconductor spending cycle. The Zacks Consensus Estimate for fiscal 2026 and 2027 revenues implies a year-over-year increase of 25% and 30.3%, respectively. The consensus mark for fiscal 2026 and 2027 earnings per share indicates growth of 37% and 36.5%, respectively.
Steady Growth Outlook Justifies LRCX’s Premium Valuation
Valuation-wise, Lam Research is overvalued, as suggested by the Zacks Value Score of F.
In terms of forward 12-month Price/Earnings (P/E), LRCX shares are trading at 42.91X, higher than the sector’s 34.83X. However, we believe that the company’s steady earnings growth and rising AI-linked demand justify the premium valuation.
Lam Research Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
Compared with major semiconductor equipment providers, LRCX trades at a higher P/E multiple than Amkor Technology, Broadcom and Cirrus Logic. At present, Amkor Technology, Broadcom and Cirrus Logic have forward 12-month P/E multiples of 33.70, 25.14 and 17.07, respectively.
Conclusion: Buy LRCX Stock for Now
Lam Research’s strong technological foundation and strategic focus on high-growth markets like AI and HPC make it a compelling long-term investment. The company’s innovation and operational efficiency provide a solid foundation for future growth. Considering these factors, accumulating LRCX stock appears to be the most prudent strategy for investors.
Currently, Lam Research carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks 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.

Lam Research Up 87% YTD: Is the Chipmaking Tool Provider Still a Buy?

The S&P 500 Index ($SPX) (SPY) today is up +0.93%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.89%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.17%. June E-mini S&P futures (ESM26) are up +0.76%, and June E-mini Nasdaq futures (NQM26) are up +0.92%.
Stock indexes are climbing for a second day today as the rebound in the artificial intelligence trade continues. Strength in chipmakers and AI-infrastructure stocks is leading gainers in the broader market. Also, today’s -2% decline in WTI crude oil prices (CLN26) has knocked inflation expectations lower and is supportive for stocks and bonds.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Today’s US economic news was supportive for stocks, as the Apr trade deficit eased to -$55.9 billion from -$56.6 billion in Mar, narrower than the -$56.1 billion expected.
Crude oil prices are sliding today and posted a 1-week low after Iran and Israel agreed to end hostilities toward each other. President Trump today predicted a swift end to war with Iran and a subsequent fall in oil prices and said, “We’re in the final throes of what will be a very, very good deal, and that they could have at least an idea one or two days from now” about the deal.
China trade news was better than expected, a positive factor for global economic growth. May exports rose +19.4% y/y, stronger than expectations of +15.0% y/y. Also, May imports rose +27.4% y/y, stronger than expectations of +26.0% y/y.
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets are higher today. The Euro Stoxx 50 climbed to a 1.5-week high and is up +0.71%. China's Shanghai Composite closed up +1.28%. Japan's Nikkei Stock Average closed up +2.17%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +3 ticks, and the 10-year T-note yield is down -2.2 bp to 4.540%. Sep T-note prices are modestly higher today amid a -2% fall in WTI crude oil prices, which eased inflation expectations. The 10-year breakeven inflation rate fell to a 7-week low of 2.350% today. Supply pressures are limiting gains in T-notes, as the Treasury will auction $58 billion in 3-year T-notes later today.
European government bond yields are mixed today. The 10-year German Bund yield is up +0.3 bp to 3.063%. The 10-year UK gilt yield is down -1.9 bp to 4.924%.
German Apr industrial production rose +0.4% m/m, right on expectations and the biggest increase in five months.
German trade news was better than expected as Apr exports unexpectedly rose +0.9% m/m, stronger than expectations of a-0.5% m/m decline. Also, Apr imports unexpectedly rose +1.2% m/m versus expectations of a -2.0% m/m decline.
Swaps are discounting a 100% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
The strength of chipmakers and AI-infrastructure stocks is leading the broader market higher today. Lam Research (LRCX) is up more than +4% to lead gainers in the Nasdaq 100, and Applied Materials (AMAT), KLA Corp (KLAC), and Sandisk (SNDK) are up more than +3%. Also, Intel (INTC), Micron Technology (MU), ASML Holding NV (ASML), and Microchip Technology (MCHP) are up more than +2%, and NXP Semiconductors NV (NXPI), Seagate Technology Holdings Plc (STX), Western Digital (WDC), and ON Semiconductor (ON) are up more than +1%.
Airline stocks and cruise line operators are moving higher today with WTI crude oil down more than -2% at a 1-week low, which lowers the companies’ fuel costs and boosts profitability prospects. United Airlines Holdings (UAL), Delta Air Lines (DAL), Alaska Air Group (ALK), and Royal Caribbean Cruises (RCL) are up more than +4%, and Southwest Airlines (LUV), American Airlines Group (AAL), and Carnival (CCL) are up more than +3%. Also, Norwegian Cruise Line Holdings (NCLH) is up more than +2%.
Energy producers and service providers are sliding today with WTI crude oil down more than -2% at a 1-week low. APA Corp (APA) and Devon Energy (DVN) are down more than -2%, and ConocoPhillips (COP), Occidental Petroleum (OXY), Phillips 66 (PSX), Exxon Mobil (XOM), Diamondback Energy (FANG), Marathon Petroleum (MPC), and Valero Energy (VLO) are down more than -1%.
Nuvalent (NUVL) is up more than +38% after GSK Plc agreed to buy the company for $10.6 billion, or about $124 a share.
J M Smucker (SJM) is up more than +10% to lead gainers in the S&P 500 after reporting Q4 adjusted EPS of $2.77, better than the consensus of $2.64, and forecasting 2027 adjusted EPS of $9.75 to $10.25, the midpoint above the consensus of $9.78.
Applied Digital (APLD) is up more than +8% after signing a 15-year take-or-pay lease with a US-based artificial intelligence hyperscaler for 210 megawatts of IT load at its Delta Forge 2 campus.
AST SpaceMobile (ASTS) is up more than +7% after announcing it will launch its BlueBird 8, 9, and 10 satellites on Wednesday, June 17.
West Pharmaceutical Services (WST) is up more than +3% after Barclays upgraded the stock to overweight from equal weight with a price target of $400.
United Natural Foods (UNFI) is down more than -15% after reporting Q3 net sales of $7.72 billion, weaker than the consensus of $7.80 billion, and forecast full-year net sales of $31.10 billion to $31.30 billion, below the consensus of $31.32 billion.
SailPoint (SAIL) is down more than -9% after forecasting Q2 adjusted EPS of 7 cents to 8 cents, the midpoint below the consensus of 7.9 cents.
Vail Resorts (MTN) is down more than -4% after reporting Q3 EPS of $8.81, weaker than the consensus of $9.00.
Gilead Sciences (GILD) is down more than-3%, and Merck & Co (MRK) is down more than -1% after the companies discontinued the Phase 3 trial of Trodelvy combined with Keytruda versus Keytruda alone to treat metastatic non-small cell lung cancer after the trial failed to meet its primary endpoints of progression-free survival and overall survival.
Novanta (NOVT) is down more than -2% after agreeing to acquire Riverpoint Medical from Arlington Capital for $1.2 billion in cash.
Earnings Reports(6/9/2026)
Casey's General Stores Inc (CASY), J M Smucker Co/The (SJM), SailPoint Inc (SAIL).
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 Climb on an AI-Led Rebound

In early trading on Tuesday, shares of SanDisk topped the list of the day's best performing components of the Nasdaq 100 index, trading up 5.7%. Year to date, SanDisk registers a 630.9% gain.
And the worst performing Nasdaq 100 component thus far on the day is Qualcomm, trading down 2.8%. Qualcomm is showing a gain of 23.8% looking at the year to date performance.
Two other components making moves today are Workday, trading down 2.8%, and Lam Research, trading up 5.2% on the day.
VIDEO: Nasdaq 100 Movers: QCOM, SNDK
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Lam Research Corporation

Market sentiment

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Confidence Index

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Support Index

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Metrics since the start of the current trend:

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