NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors. Its products are used in various applications, including automotive, industrial and Internet of Things, mobile, and communication infrastructure. The company markets its products to various original equipment manufacturers, contract manufacturers, and distributors. It operates in China, the Netherlands, the United States, Singapore, Germany, Japan, South Korea, Taiwan, and internationally. N.V. was incorporated in 2006 and is headquartered in Eindhoven, the Netherlands.

NXP appears to be a high-quality semiconductor asset that is no longer cheap, with strong profitability and moderate leverage. On earnings, the company shows a very strong profile: ROE of 26.14%, ROA of 10.08%, and ROI of 12.79% are clearly above industry benchmarks, while net and operating margins also significantly exceed the sector median. Revenue, operating profit, and net income on a TTM basis are at a high level, and the annual trend in earnings and operating income has generally improved, supporting the quality of the business. Liquidity looks comfortable: a current ratio of 2.24 and a quick ratio of 1.55 are not a concern and allow the company to comfortably meet short-term obligations. At the same time, leverage remains noticeable: debt/equity of around 1.0 and long-term debt of more than $10.9 billion are not critical, but they limit re-rating potential. The main constraint on valuation is the expensive P/S, P/B, and P/FCF multiples, which are significantly above the industry median and indicate already high market expectations. P/E is below the industry median, but on its own it does not offset the premium in revenue, equity, and free cash flow multiples. Dividend yield of 0.34% remains very low and does not add a meaningful defensive component for investors. Gross margin is only slightly above the median, meaning operational efficiency is strong but does not look exceptionally unique for the sector. Equity and assets are growing, which supports fundamental stability, but net worth and the balance sheet structure do not provide a strong case for an aggressive upward revision in valuation. Overall, the fundamentals support the current elevated outlook, but due to premium multiples and moderate debt, they warrant a small conservative discount. For an investor, this is a story about a quality business with good returns on capital, but without a large margin of safety in valuation.

NXP Semiconductors N.V.

Сильный индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Strong index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Сильный индекс, без изменений. Рынок не поддерживает быков.

Strong index, flat. The market does not support the bulls.

Средний индекс, без изменений. Отток средств из лонгов на высоком уровне.

Medium index, flat. Outflow of funds from longs at a high level.

Strong profitability and margins support NXP, but premium multiples, low dividend yield, and significant debt limit revaluation potential.

The S&P 500 Index ($SPX) (SPY) is down by -0.42% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -1.17%. E-mini S&P futures (ESU26) are down -0.51%, and September E-mini Nasdaq futures (NQU26) are down -1.31%.
Stock indices are retreating today, with the S&P 500 falling to a 1.5-week low and the Dow Jones Industrials falling to a 2-week low. Soaring global bond yields are weighing on technology stocks today, dragging equity markets lower worldwide. Rising crude oil prices are fueling inflation concerns as hostilities in the Middle East show no signs of easing. WTI crude oil climbed to a 3-week high today, which pushed the 10-year Japan JGB bond yield up to a 3-year high of 2.967%, the 10-year German Bund yield up to a 15-year high of 3.262%, and the 10-year T-note yield up to a 1.5-year high of 4.75%.
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Today’s US housing news was mixed for stocks. July housing starts fell -12.4% m/m to 1.239 million, weaker than expectations of 1.345 million. However, July building permits, a proxy for future construction, rose +5.0% m/m to a 5-month high of 1.443 million, stronger than expectations of 1.375 million.
Other US economic news today was mixed for stocks. The July import price index ex-petroleum rose +0.3% m/m, stronger than expectations of +0.1% m/m. Also, July manufacturing production rose +0.2% m/m, right on expectations.
Sep WTI crude oil prices (CLU26) pushed up to a 3-week high today after a vessel heading out of the Strait of Hormuz was struck by an unknown projectile. Also, President Trump said he's not interested in extending the expired agreement with Iran, dimming prospects for a swift reopening of the Strait of Hormuz. Mr. Trump also said that the US naval blockade on Iranian ports is putting pressure on the country, and he has no timeline for resolving the US-Iran conflict.
On Monday, US Energy Secretary Chris Wright said that the US is playing the long game with Iran, implying the US has no plans to de-escalate the conflict, potentially limiting crude supplied from the Middle East.
Treasury Secretary Bessent said last week that the administration will soon announce unprecedented economic measures against Iran that “have never been seen in the history of economic isolation of a country.” The economic measures would add to the current US naval blockade of Iranian ports.
There have been no signs of progress toward a US-Iran agreement to fully open the Strait of Hormuz. An Iranian military spokesperson said last Thursday that no ship can safely pass the Strait of Hormuz without Iran’s authorization and supervision and that President Trump’s claims of control over the Strait are “nothing more than lies.” The Iranian statement was in response to President Trump's comment last Tuesday that the US has “total control over the Hormuz Strait” and that “we own it.”
The outlook for strong Q2 earnings is a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 85% of the 456 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 35% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 fell to a 2-week low and is down -0.50%. China's Shanghai Composite climbed to a 5-week high and closed up +0.19%. Japan's Nikkei-225 Stock Average closed down sharply by -2.54%.
Interest Rates
September 10-year T-notes (ZNU6) are down -4 ticks today. The 10-year T-note yield is up +1.6 bp to 4.738%. Sep T-notes fell to a 1-week low today, and the 10-year T-note yield rose to a 1.5-year high of 4.746%. T-notes are moving lower today as WTI crude oil prices rise to a 3-week high, pushing inflation expectations higher. The 10-year breakeven inflation rate rose to a 3.5-week high of 2.299% today. Also, the larger-than-expected increase in the July import price index ex-petroleum was negative for T-notes.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 15-year high of 3.262% and is up +3.5 bp to 3.256%. The 10-year UK gilt yield climbed to a 3.5-week high of 5.101% and is up +1.9 bp to 5.079%.
The German Aug ZEW expectations of economic growth survey rose +7.9 to a 6-month high of 34.2, stronger than expectations of 30.0.
ECB Chief Economist Philip Lane said the pace of consumer price increases in the Eurozone is likely to hold "well above" the ECB's 2% target this year due to the Iran war.
Markets are discounting a 94% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are under pressure today from rising bond yields. The iShares Semiconductor ETF (SOXX) is down more than -3%. ARM Holdings Plc (ARM), Intel (INTC), Marvell Technology (MRVL), and Lam Research (LRCX) are down more than -5%, and Applied Materials (AMAT), Western Digital (WDC), Sandisk (SNDK), and Seagate Technology Holdings Plc (STX) are down more than -4%. Also, ASML Holding NV (ASML), Advanced Micro Devices (AMD), Microchip Technology (MCHP), KLA Corp (KLAC), and Micron Technology (MU) are down more than -3%, and Broadcom (AVGO), NXP Semiconductors NV (NXPI), and Texas Instruments (TXN) are down more than -2%.
Airline stocks are falling today, with WTI crude oil climbing to a 3-week high. Alaska Air Group (ALK) is down more than -2%, and American Airlines Group (AAL), United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) are down more than -1%.
Software stocks are climbing today, a supportive factor for the overall market. Adobe Systems (ADBE) is up more than +3%, and Intuit (INTU) is up more than +3% to lead gainers in the Nasdaq 100. Also, Autodesk (ADSK), Atlassian Corp (TEAM), Thomson Reuters (TRI), ServiceNow (NOW), and Salesforce (CRM) are up more than +2%. Also, Datadog (DDOG), International Business Machines (IBM), and Workday (WDAY) are up more than +1%.
Klarna Group Plc (KLAR) is down more than -19% after cutting its full-year revenue forecast to $4.08 billion to $4.16 billion, well below a previous forecast of $4.34 billion.
Fabrinet (FN) is down more than -17% despite reporting better-than-expected Q4 EPS as Datacom sales disappointed.
Andersen Group (ANDG) is down more than -7% after holders offered 4.28 million shares of the company’s common stock.
Amylyx Pharmaceuticals (AMLX) is up more than +38% after saying that its GLP-1 receptor met its primary endpoint in a late-stage trial as a treatment for patients who experience low blood sugar levels following bariatric surgery.
Targa Resources (TRGP) is up more than +6% to lead gainers in the S&P 500 after announcing that it signed a 20-year, fee-based integrated midstream agreement with ExxonMobil.
Duolingo (DUOL) is up more than +5% after D.A. Davidson upgraded the stock to buy from neutral with a price target of $160.
Bath & Body Works (BBWI) is up more than +4% after Citigroup upgraded the stock to buy from neutral with a price target of $25.
Earnings Reports (8/18/2026)
Amer Sports Inc (AS), Home Depot Inc/The (HD), Jack Henry & Associates Inc (JKHY), Keysight Technologies Inc (KEYS), Toll Brothers Inc (TOL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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Stocks Retreat as Global Bond Yields Rise

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Direxion Daily Semiconductors Bull 3x Shares (Symbol: SOXL) where we have detected an approximate $477.3 million dollar outflow -- that's a 1.8% decrease week over week (from 170,450,060 to 167,300,060). Among the largest underlying components of SOXL, in trading today Monolithic Power Systems Inc (Symbol: MPWR) is down about 6%, NXP Semiconductors NV (Symbol: NXPI) is down about 2.9%, and Astera Labs Inc (Symbol: ALAB) is lower by about 6.3%. For a complete list of holdings, visit the SOXL Holdings page » The chart below shows the one year price performance of SOXL, versus its 200 day moving average:
Looking at the chart above, SOXL's low point in its 52 week range is $23.66 per share, with $302 as the 52 week high point — that compares with a last trade of $130.44. 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 SOXL Research:

SOXL, MPWR, NXPI, ALAB: Large Outflows Detected at ETF

Analog Devices ADI is trading at a forward price-to-sales multiple of 11.49x much above the broader sector’s 8.6x. This overvaluation is further supported by a Zacks Value Score of D.
ADI Forward 12-Month (P/S) Valuation Chart
Shares of ADI have rallied 41.7% year to date, outperforming the Zacks Semiconductor - Analog and Mixed industry and Zacks Computer and Technology sector’s appreciation of 41.2% and 16.8%, respectively.
ADI YTD Performance Chart
The rise in the stock price has been driven by the restoration of investors’ confidence in a broad-based recovery in ADI’s industrial segment and AI-related data center demand driving higher utilization and favorable mix.
Given the dynamics, investors are wondering if it is the right time to invest in ADI stock. Let’s delve deeper into the fundamentals and financials to know if it is the right time to buy, sell or retain ADI stock.
ADI Benefits From Industrial and Data Center Strength
Analog Devices’ industrial segment accounted for 50% of second-quarter fiscal 2026 revenues, rising 56% year over year and 20% sequentially to $1.80 billion. All industrial businesses posted both year-over-year and sequential growth, led by aerospace and defense, automated test equipment (ATE), energy management and broad-market applications.
ADI’s data center and ATE businesses are experiencing strong growth. The increasing adoption of higher-voltage architectures, particularly 48V and 54V systems, along with vertical power solutions, is expanding the company’s addressable market. Meanwhile, DC power control and multiphase controllers are helping customers efficiently regulate power for GPUs and CPUs.
Optical connectivity is providing another growth opportunity as AI networking increasingly moves toward optical circuit switching. ADI’s precision control and monitoring technologies help customers increase bandwidth density while lowering the cost per bit. The company’s industrial businesses grew more than 40% during the first half of fiscal 2026, although they remain below previous cycle peaks, with channel inventories still lean.
ADI’s broad portfolio of high-performance sensing, signal-chain, power-management and connectivity solutions is also benefiting from the transition toward digital factories and next-generation robotics across semiconductor manufacturing, biopharmaceuticals and data centers.
Communications accounted for 15% of second-quarter fiscal 2026 revenues and climbed 79% year over year and 22% sequentially to $554.7 million, fueled by ongoing AI infrastructure investments. Data center applications now contribute more than 75% of Communications revenues and grew over 90% year over year, with both optical and power businesses recording similar growth.
ADI Sustains Margins Despite Competitive Pressure
ADI competes with Texas Instruments TXN, STMicroelectronics STM and NXP Semiconductors NXPI. Texas Instruments competes across analog, digital and mixed-signal solutions, including precision sensing and power-management products for consumer electronics. NXP is a major provider of analog and mixed-signal semiconductor solutions for mobile, connectivity and consumer applications, including front-end, power-management and mixed-signal products, particularly for mobile and IoT markets.
Texas Instruments also targets the automotive market through analog sensors, power ICs, in-vehicle networking and signal-chain products, as well as driver-assistance electronics. STMicroelectronics competes with ADI through products including MEMS and inertial sensors, analog front ends, interface ICs and microcontrollers. While competition from these major semiconductor players has prompted ADI to increase research and development as well as sales and marketing investments at double-digit rates, strong revenue growth has helped the company maintain its margins.
Despite higher operating and capital expenditures and intense competitive pressure, ADI has continued to expand its margins, with profitability improving over recent quarters. For the second quarter of fiscal 2026, ADI expects a reported operating margin of approximately 39% (+/- 150 basis points), and an adjusted operating margin of about 49% (+/-100 basis points). Adjusted earnings are expected to be $3.30 per share (+/- 15 cents).
The Zacks Consensus Estimate for third-quarter fiscal 2026 earnings is pinned at $3.33 per share, implying 62% year-over-year growth. The consensus estimate has been revised upward over the past 30 days.
Conclusion: Buy ADI Now
Although ADI’s elevated valuation could contribute to near-term volatility, its leadership in analog and mixed-signal semiconductors, exposure to long-term growth trends such as AI, automation and industrial digitization, and solid execution make the stock appealing for long-term investors. Based on these factors, we recommend that investors consider this Zacks Rank #2 (Buy) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Should Investors Buy ADI Stock Despite its Premium Valuation?

The S&P 500 Index ($SPX) (SPY) closed down -0.32% on Tuesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.33%. September E-mini S&P futures (ESU26) fell -0.35%, and September E-mini Nasdaq futures (NQU26) fell -0.33%.
Stock indices settled lower on Tuesday. The lack of a deal to reopen the Strait of Hormuz pushed crude oil prices higher, raised inflation expectations, and weighed on stocks. Also, hawkish comments on Tuesday from Chicago Fed President Austan Goolsbee were bearish for stocks and bonds when he said "the biggest problem facing our economy right now" is inflation.
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Losses in stocks were limited on Tuesday amid strength in chipmakers and AI-infrastructure stocks. Also, expectations for a Fed-friendly CPI report on Wednesday knocked bond yields from a 1-week high of 4.73% to finish down -2 bp to 4.68%. The consensus is that July core CPI will ease to 3.4% y/y from 3.5% and core July CPI will ease to 2.5% y/y from 2.6% y/y.
Tuesday’s US economic news was neutral for stocks after July existing home sales fell -1.7% m/m to 4.06 million, close to expectations of 4.05 million.
The outlook for strong Q2 earnings is a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 85% of the 446 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
Sep WTI crude oil prices (CLU26) rose more than +1% to a 1-week high on Tuesday as President Trump hardened his stance toward Iran, making it unlikely there will soon be a deal to reopen the Strait of Hormuz. In response to Iran’s demand for compensation for war damages, President Trump said he will “demand compensation from Iran for people killed and wounded with roadside bombs and many conflicts to people in Lebanon, Syria, Yemen and Gaza over the last 50 years.”
Crude prices retreated briefly on Tuesday after Pakistan signaled the US and Iran were close to an arrangement that could reopen the Strait of Hormuz. Pakistani defense minister Khawaja Asif said today that signals in the "last two to three days are that we are close to some sort of agreement." However, crude prices regained upward momentum Tuesday afternoon when Iran's state-owned Islamic Republic of Iran Broadcasting (IRIB) said the Strait of Hormuz would remain shut until all of its conditions are met.
On Sunday, Mr. Trump signaled he's prepared to let economic pressure on Iran build rather than launch additional military strikes, saying the US was only "semi-negotiating" with Iran on the Strait of Hormuz and that the US blockade of Iran was deepening the country's financial woes.
The risk of a renewed flare-up across the Middle East remains high, as another UAE tanker was targeted by a missile on Saturday while transiting the Strait of Hormuz. Also, on Sunday, Houthi militants in Yemen claimed an attack on Saudi Arabia's Jazan refinery.
The markets are discounting a 51% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Tuesday. The Euro Stoxx 50 rallied to a new all-time high and closed up +0.24%. China's Shanghai Composite closed down -0.82%. Japan's Nikkei-225 Stock Average did not trade, with Japanese markets closed for the Mountain Day holiday.
Interest Rates
September 10-year T-notes (ZNU6) closed up +3.5 ticks on Tuesday. The 10-year T-note yield fell down -2.3 bp to 4.684%. Sep T-notes rebounded from a 1-week low on Tuesday and moved higher, and the 10-year T-note yield fell from a 1-week high of 4.733% and turned lower. Short covering emerged in T-notes on Tuesday in anticipation of a Fed-friendly July CPI report on Wednesday. Also, solid demand for the Treasury’s$58 billion auction of 3-year T-notes was supportive for T-notes as the auction had a bid-to-cover ratio of 2.71, stronger than the 10-auction average of 2.64.
Gains in T-notes were limited on Tuesday after WTI crude oil rose more than +1% to a 1-week high, which boosted inflation expectations. Also, hawkish comments from Chicago Fed President Austan Goolsbee were bearish for bonds when he said "the biggest problem facing our economy right now" is inflation.
European government bond yields moved lower on Tuesday. The 10-year German bund yield fell from a 1-week high of 3.208% and finished down -2.0 bp to 3.158%. The 10-year UK gilt yield fell from a 1-week high of 5.050% and finished down -2.4 bp to 4.964%.
Markets are discounting an 89% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Software stocks were under pressure on Tuesday. Datadog (DDOG) closed down more than -5%, and Adobe Systems (ADBE) and Oracle (ORCL) closed down more than -3%. Also, Autodesk (ADSK), Cadence Design Systems (CDNS), and Workday (WDAY) closed down more than -1%. In addition, Microsoft (MSFT) closed down 0.62%.
Asset managers rallied on Tuesday after Nvidia tapped several firms for a $500 billion funding commitment. KKR & Co. (KKR) closed up more than +6% to lead gainers in the S&P 500. Also, Apollo Global Management (APO) closed up more than +6%, and Blackstone (BX) closed up more than +3%. In addition, Blackrock (BLK) closed up more than +1%.
Chipmakers and AI-infrastructure stocks are moving higher today, supporting the broader market. KLA Corp (KLAC) closed up more than +4%, and ASML Holding NV (ASML) closed up more than +3%. Also, Sandisk (SNDK) and Seagate Technology Holdings Plc (STX) closed up more than +2%, and Marvell Technology (MRVL), Advanced Micro Devices (AMD), NXP Semiconductors (NXPI), and Lam Research (LRCX) closed up more than +1%.
ON Holding AG (ONON) closed down more than -20% after reporting weaker-than-expected Q2 net sales. The weakness in ON Holding also knocked Nike (NKE) down by more than -1%.
Amentum Holdings (AMTM) closed down more than -8% after cutting its full-year revenue forecast to $13.80 billion to $13.95 billion from a previous forecast of $13.95 billion to $14.30 billion.
Venture Global (VG) closed down more than -7% after reporting Q2 adjusted Ebitda of $2.49 billion, below the consensus of $2.51 billion.
AppLovin (APP) closed down more than -5% to lead losers in the S&P 500 and Nasdaq 100 after Bank of America Global Research downgraded the stock to neutral from buy.
Rapid7 Inc. (RPD) closed up more than +15% after raising its full-year adjusted EPS forecast to $1.78 to $1.83 from a previous forecast of $1.52 to $1.60, stronger than the consensus of $1.56.
Everpure (P) closed up more than +11% after announcing it had secured a design win and supply agreement with a second top five hyperscaler.
Jabil (JBL) closed up more than +5% after UBS upgraded the stock to buy from neutral with a price target of $430.
Riot Platforms (RIOT) closed up more than +4% after striking a 20-year $9.1 billion cloud deal with Anthropic to provide the company with 191 megawatts of computing power.
Earnings Reports (8/12/2026)
Amcor PLC (AMCR), Cisco Systems Inc (CSCO), Coherent Corp (COHR), Performance Food Group Co (PFGC), Trimble Inc (TRMB).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Lower Ahead of Wednesday’s CPI Report

The S&P 500 Index ($SPX) (SPY) today is up +0.10%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.15%. September E-mini S&P futures (ESU26) are up +0.12%, and September E-mini Nasdaq futures (NQU26) are up +0.20%.
Stock indices are posting modest gains today. The strength in chipmakers and AI-infrastructure stocks today is a supportive factor for the overall market. Stocks also found support after crude prices gave up a 2% overnight advance, knocking bond yields lower after Pakistan signaled the US and Iran were close to an arrangement that could reopen the Strait of Hormuz.
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Stock index futures were initially under pressure in overnight trade as rising crude oil prices fanned inflation fears and pushed bond yields higher. WTI crude initially jumped more than +2% in overnight trade to a 1-week high, adding to Monday’s +5% surge, as President Trump hardened his stance toward Iran. The jump in crude prices initially pushed the 10-year T-note yield up to a 1-week high of 4.73%, but yields fell back with crude prices, and the 10-year T-note yield is now down -2 bp to 4.68%.
Today’s US economic news was neutral for stocks after July existing home sales fell -1.7% m/m to 4.06 million, close to expectations of 4.05 million.
The outlook for strong Q2 earnings is a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 85% of the 446 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
Sep WTI crude oil prices (CLU26) relinquished a +2% increase in overnight trade when Al Jazeera said that talks between Oman and Iran to reopen the Strait of Hormuz have reached an advanced stage. Pakistani defense minister Khawaja Asif said today that signals in the "last two to three days are that we are close to some sort of agreement."
Crude prices initially jumped to a 1-week high today after President Trump late Monday hardened his stance toward Iran, making it unlikely there will soon be a deal to reopen the Strait of Hormuz. In response to Iran’s demand for compensation for war damages, President Trump said he will “demand compensation from Iran for people killed and wounded with roadside bombs and many conflicts to people in Lebanon, Syria, Yemen and Gaza over the last 50 years.”
On Sunday, Mr. Trump signaled he's prepared to let economic pressure on Iran build rather than launch additional military strikes, saying the US was only "semi-negotiating" with Iran on the Strait of Hormuz and that the US blockade of Iran was deepening the country's financial woes.
The risk of a renewed flare-up across the Middle East remains high, as another UAE tanker was targeted by a missile on Saturday while transiting the Strait of Hormuz. Also, on Sunday, Houthi militants in Yemen claimed an attack on Saudi Arabia's Jazan refinery.
The markets are discounting a 51% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 rallied to a new all-time high and is up +0.56%. China's Shanghai Composite closed down -0.82%. Japan's Nikkei-225 Stock Average did not trade, with Japanese markets closed for the Mountain Day holiday.
Interest Rates
September 10-year T-notes (ZNU6) are up +4 ticks today. The 10-year T-note yield is down -2.9 bp to 4.678%. Sep T-notes rebounded from a 1-week low today and moved higher, and the 10-year T-note yield fell from a 1-week high of 4.733% and turned lower. Short covering emerged in T-notes today after WTI crude gave up most of a +2% overnight advance, weakening inflation expectations and boosting T-notes.
T-notes initially moved lower today after WTI crude oil rose more than +2% to a 1-week high. Also, supply pressures are bearish for T-notes as the Treasury will auction $125 billion T-notes and T-bonds this week, beginning with a $58 billion auction of 3-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield fell from a 1-week high of 3.208% and is down -2.9 bp to 3.149%. The 10-year UK gilt yield fell from a 1-week high of 5.050% and is down -3.3 bp to 4.955%.
Markets are discounting an 88% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are moving higher today, supporting the broader market. ASML Holding NV (ASML) is up more than +4%, and KLA Corp (KLAC) is up more than +3%. Also, Applied Materials (AMAT), NXP Semiconductors (NXPI), and Lam Research (LRCX) are up more than +2%, and Analog Devices (ADI), Qualcomm (QCOM), Microchip Technology (MCHP), and Texas Instruments (TXN) are up more than +1%.
Rapid7 Inc. (RPD) is up more than +25% after raising its full-year adjusted EPS forecast to $1.78 to $1.83 from a previous forecast of $1.52 to $1.60, stronger than the consensus of $1.56.
Jabil (JBL) is up more than +4% after UBS upgraded the stock to buy from neutral with a price target of $430.
Everpure (P) is up more than +4% after announcing it had secured a design win and supply agreement with a second top five hyperscaler.
Riot Platforms (RIOT) is up more than +4% after striking a 20-year $9.1 billion cloud deal with Anthropic to provide the company with 191 megawatts of computing power.
Cardinal Health (CAH) is up more than +1% after reporting Q4 adjusted EPS of $2.91, stronger than the consensus of $2.42 and forecasting 2027 adjusted EPS of $12.40 to $12.60, better than the consensus of $12.06.
Best Buy (BBY) is up more than +1% after Truist Securities upgraded the stock to buy from hold with a price target of $95.
ON Holding AG (ONON) is down more than -18% after reporting weaker-than-expected Q2 net sales. The weakness in ON Holding has also knocked Nike (NKE) down by more than -1%.
Venture Global (VG) is down more than -6% after reporting Q2 adjusted Ebitda of $2.49 billion, below the consensus of $2.51 billion.
Amentum Holdings (AMTM) is down more than -4% after cutting its full-year revenue forecast to $13.80 billion to $13.95 billion from a previous forecast of $13.95 billion to $14.30 billion.
AppLovin (APP) is down more than -3% to lead losers in the Nasdaq 100 after Bank of America Global Research downgraded the stock to neutral from buy.
Earnings Reports (8/11/2026)
Aramark (ARMK), Cardinal Health Inc (CAH), Cava Group Inc (CAVA), CoreWeave Inc (CRWV), H&R Block Inc (HRB), Lumentum Holdings Inc (LITE), Middleby Corp/The (MIDD), On Holding AG (ONON), Smithfield Foods Inc (SFD), Super Micro Computer Inc (SMCI).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mostly Higher in Hopes for a Deal to Reopen Hormuz

The S&P 500 Index ($SPX) (SPY) today is up +0.04%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.32%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.07%. September E-mini S&P futures (ESU26) are up +0.02%, and September E-mini Nasdaq futures (NQU26) are down -0.11%.
Stock indices are mixed today. Stocks found support after crude prices gave up a 2% overnight advance and turned negative, knocking bond yields lower after Pakistan signaled the US and Iran were close to an arrangement that could reopen the Strait of Hormuz.
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Stock index futures were initially under pressure in overnight trade as rising crude oil prices fanned inflation fears and pushed bond yields higher. WTI crude initially jumped more than +2% in overnight trade, adding to Monday’s +5% surge, as President Trump hardened his stance toward Iran. The jump in crude prices initially pushed the 10-year T-note yield up to a 1-week high of 4.73%, but yields fell back with crude prices, and the 10-year T-note yield is now down -2 bp to 4.68%.
The outlook for strong Q2 earnings is a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 85% of the 446 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
Sep WTI crude oil prices (CLU26) relinquished a +2% increase in overnight trade and turned lower when Al Jazeera said that talks between Oman and Iran to reopen the Strait of Hormuz have reached an advanced stage. Pakistani defense minister Khawaja Asif said today that signals in the "last two to three days are that we are close to some sort of agreement."
Crude prices initially jumped to a 1-week high today after President Trump late Monday hardened his stance toward Iran, making it unlikely there will soon be a deal to reopen the Strait of Hormuz. In response to Iran’s demand for compensation for war damages, President Trump said he will “demand compensation from Iran for people killed and wounded with roadside bombs and many conflicts to people in Lebanon, Syria, Yemen and Gaza over the last 50 years.” Crude prices fell from their highs today
On Sunday, Mr. Trump signaled he's prepared to let economic pressure on Iran build rather than launch additional military strikes, saying the US was only "semi-negotiating" with Iran on the Strait of Hormuz and that the US blockade of Iran was deepening the country's financial woes.
The risk of a renewed flare-up across the Middle East remains high, as another UAE tanker was targeted by a missile on Saturday while transiting the Strait of Hormuz. Also, on Sunday, Houthi militants in Yemen claimed an attack on Saudi Arabia's Jazan refinery.
The markets are discounting a 48% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.40%. China's Shanghai Composite closed down -0.82%. Japan's Nikkei-225 Stock Average did not trade, with Japanese markets closed for the Mountain Day holiday.
Interest Rates
September 10-year T-notes (ZNU6) are up +4 ticks today. The 10-year T-note yield is down -2.9 bp to 4.678%. Sep T-notes rebounded from a 1-week low today and moved higher, and the 10-year T-note yield fell from a 1-week high of 4.733% and turned lower. Short covering emerged in T-notes today after WTI crude gave up most of a +2% overnight advance, weakening inflation expectations and boosting T-notes.
T-notes initially moved lower today after WTI crude oil rose more than +2% to a 1-week high. Also, supply pressures are bearish for T-notes as the Treasury will auction $125 billion of T-notes and T-bonds this week, beginning with a $58 billion auction of 3-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield fell from a 1-week high of 3.208% and is down -1.2 bp to 3.167%. The 10-year UK gilt yield fell from a 1-week high of 5.050% and is down -1.6 bp to 4.973%.
Markets are discounting an 89% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are moving higher today, providing support to the broader market. ASML Holding NV (ASML) and KLA Corp (KLAC) are up more than +4%, and Sandisk (SNDK), Applied Materials (AMAT), and Lam Research (LRCX) are up more than +2%. Also, Analog Devices (ADI), Nvidia (NVDA), NXP Semiconductors (NXPI), Microchip Technology (MCHP), Western Digital (WDC), and Texas Instruments (TXN) are up more than +1%.
Software stocks are under pressure today, weighing on the overall market. Datadog (DDOG) is down more than -4%, and Oracle (ORCL) is down more than -3%. Also, Autodesk (ADSK) and Workday (WDAY) are down more than -2%, and Microsoft (MSFT), Servicenow (NOW), Adobe Systems (ADBE), and Thomson Reuters Corp (TRI) are down more than +1%.
Rapid7 Inc. (RPD) is up more than +19% after raising its full-year adjusted EPS forecast to $1.78 to $1.83 from a previous forecast of $1.52 to $1.60, stronger than the consensus of $1.56.
Riot Platforms (RIOT) is up more than +14% after striking a 20-year $9.1 billion cloud deal with Anthropic to provide the company with 191 megawatts of computing power.
Everpure (P) is up more than +6% after announcing it had secured a design win and supply agreement with a second top five hyperscaler.
Cardinal Health (CAH) is up more than +4% to lead gainers in the S&P 500 after reporting Q4 adjusted EPS of $2.91, stronger than the consensus of $2.42 and forecasting 2027 adjusted EPS of $12.40 to $12.60, better than the consensus of $12.06.
Jabil (JBL) is up more than +4% after UBS upgraded the stock to buy from neutral with a price target of $430.
Best Buy (BBY) is up more than +3% after Truist Securities upgraded the stock to buy from hold with a price target of $95.
ON Holding AG (ONON) is down more than -21% after reporting weaker-than-expected Q2 net sales. The weakness in ON Holding has also knocked Nike (NKE) down by more than -1%.
Amentum Holdings (AMTM) is down more than -7% after cutting its full-year revenue forecast to $13.80 billion to $13.95 billion from a previous forecast of $13.95 billion to $14.30 billion.
AppLovin (APP) is down more than -5% to lead losers in the Nasdaq 100 after Bank of America Global Research downgraded the stock to neutral from buy.
Venture Global (VG) is down more than -3% after reporting Q2 adjusted Ebitda of $2.49 billion, below the consensus of $2.51 billion.
Rocket Lab (RKLB) is down more than -2% after forecasting a Q3 Ebitda loss of -$17 million to -$23 million, a wider loss than the consensus of -$12.4 million.
Earnings Reports (8/11/2026)
Aramark (ARMK), Cardinal Health Inc (CAH), Cava Group Inc (CAVA), CoreWeave Inc (CRWV), H&R Block Inc (HRB), Lumentum Holdings Inc (LITE), Middleby Corp/The (MIDD), On Holding AG (ONON), Smithfield Foods Inc (SFD), Super Micro Computer Inc (SMCI).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Supported by Renewed Middle East Optimism

The S&P 500 Index ($SPX) (SPY) closed down -0.06% on Monday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.34%. September E-mini S&P futures (ESU26) fell -0.07%, and September E-mini Nasdaq futures (NQU26) fell -0.30%.
Stock indices settled lower on Monday. The broader market was under pressure on Monday from higher crude oil prices, which boosted inflation expectations and T-note yields. WTI crude oil surged more than +5% on Monday, pushing the 10-year T-note yield up by +5 bp to 4.70%.
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Stocks and bonds were also pressured by hawkish comments on Monday from Cleveland Fed President Beth Hammack, who said she is not seeing a problem with the job market and that inflation is not coming down on its own. She added that "now is the time" for us to take action, as the current interest rate is not meaningfully restricting the economy and we would probably need "some number" of rate hikes to bring down inflation.
Losses in stock indices were limited on Monday by strength in energy providers, software stocks, and cybersecurity companies. Also, optimism about the sustainability of AI spending is supportive for stocks after Taiwan Semiconductor Manufacturing Co. (TSMC), a bellwether for AI spending that produces the vast majority of the world’s most advanced chips, reported Monday that its July sales rose 45% y/y, a sign of sustained demand for its AI hardware.
JPMorgan Chase & Co. raised its year-end projection for the S&P 500 to 8,000 from 7,800, saying a strong earnings season and faster AI monetization than expected are boosting profit estimates.
The outlook for strong Q2 earnings is a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 85% of the 444 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
Sep WTI crude oil prices (CLU26) surged more than +5% on Monday as Iran and Oman remained short of a deal to reopen the Strait of Hormuz. Iranian Foreign Minister Abbas Araghchi said an agreement with Oman to establish a shipping route through the strait was "very close," but its reopening would require the US to end its blockade of Iranian shipping, withdraw its forces from around Iran, remove sanctions, release frozen assets, and compensate Iran for damages caused by US attacks. It also demanded a permanent end to attacks on groups it backs in Lebanon, Iraq, Yemen, and Gaza.
Crude prices raced to their highs Monday afternoon when President Trump spoke out against Iran’s demand for compensation from the war, dimming hopes of a quick deal to reopen the Strait of Hormuz. In response to Iran’s demand for compensation, President Trump said he will “demand compensation from Iran for people killed and wounded with roadside bombs and many conflicts to people in Lebanon, Syria, Yemen and Gaza over the last 50 years.” On Sunday, Mr. Trump signaled he's prepared to let economic pressure on Iran build rather than launch additional military strikes, saying the US was only "semi-negotiating" with Iran on the Strait of Hormuz and that the US blockade of Iran was deepening the country's financial woes.
The risk of a renewed flare-up across the Middle East remains high, as another UAE tanker was targeted by a missile on Saturday while transiting the Strait of Hormuz. Also, on Sunday, Houthi militants in Yemen claimed an attack on Saudi Arabia's Jazan refinery.
The markets are discounting a 52% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled higher on Monday. The Euro Stoxx 50 closed up +0.18%. China's Shanghai Composite climbed to a 3.5-week high and closed up +0.672%. Japan's Nikkei-225 Stock Average rallied to a 2-week high and closed up sharply by +2.08%.
Interest Rates
September 10-year T-notes (ZNU6) closed down -8.5 ticks on Monday. The 10-year T-note yield rose +5.4 bp to 4.699%. T-notes were under pressure on Monday from a more than +5% surge in WTI crude oil prices, which boosted inflation expectations. Also, hawkish comments from Cleveland Fed President Beth Hammack undercut T-note prices when she said the current interest rate is not meaningfully restricting the economy, and we would probably need "some number" of rate hikes to bring inflation down. In addition, supply pressures weighed on T-notes as the Treasury will auction $125 billion of T-notes and T-bonds this week, beginning with a $58 billion auction of 3-year T-notes on Tuesday.
European government bond yields moved higher on Monday. The 10-year German bund yield climbed to a 1-week high of 3.182% and finished up +4.6 bp to 3.179%. The 10-year UK gilt yield rose +6.7 bp to 4.989%.
The Eurozone Aug Sentix investor confidence index rose +4.0 to a 6-month high of 0.9, stronger than expectations of -0.5.
Markets are discounting a 90% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers moved lower on Monday, weighing on the broader market. ARM Holdings (ARM) closed down more than -5%, and Marvel Technology (MRVL) closed down more than -4%. Also, Microchip Technology (MCHP), Qualcomm (QCOM), and Applied Materials (AMAT) closed down more than -3%, and Nvidia (NVDA) closed down more than -2% to lead losers in the Dow Jones Industrials. In addition, Advanced Micro Devices (AMD), KLA Corp (KLAC), and NXP Semiconductors (NXPI) closed down more than -2%, and Micron Technology (MU), Analog Devices (ADI), Lam Research (LRCX), and Texas Instruments (TXN) closed down more than -1%.
Airline stocks and cruise line operators retreated on Monday after WTI crude oil soared more than +5%. Alaska Air Group (ALK) closed down more than -5%, and American Airlines Group (AAL) and Southwest Airlines (LUV) closed down more than -4%. Also, United Airlines Holdings (UAL), Carnival (CCL), Royal Caribbean Cruises (RCL), and Norwegian Cruise Line Holdings (NCLH) closed down more than -3%. In addition, Delta Air Lines (DAL) closed down more than -1%.
Homebuilders and building supply companies were under pressure on Monday after the 10-year T-note yield rose +5 bp, which boosts mortgage rates and is negative for housing demand. KB Home (KBH), Toll Brothers (TOL), and Builders Firstsource (BLDR) closed down more than -3%. Also, DR Horton (DHI), Pulte Group (PHM), and Lennar (LEN) closed down more than -2%, and Home Depot (HD) closed down more than -1%.
Software companies rallied on Monday, providing support to the overall market. Datadog (DDOG) closed up more than +11% to lead gainers in the S&P 500 and Nasdaq 100. Also, Autodesk (ADSK), Adobe Systems (ADBE), Salesforce (CRM), Intuit (INTU), Thomson Reuters Corp (TRI), Workday (WDAY), and Oracle (ORCL) closed up more than +2%. In addition, Palantir Technologies (PLTR) and Microsoft (MSFT) closed up more than +1%.
Energy stocks and service providers moved sharply higher on Monday as the price of WTI crude oil surged more than +5%. APA Corp (APA) closed up more than +9%, and Marathon Petroleum (MPC) closed up more than +7%. Also, Devon Energy (DVN), Diamondback Energy (FANG), Haliburton (HAL), SLB Ltd (SLB), Phillips 66 (PSX), and Valero Energy (VLO) closed up more than +5%, and Chevron (CVX) closed up more than +4% to lead gainers in the Dow Jones Industrials. In addition, Baker Hughes (BKR), Occidental Petroleum (OXY), ExxonMobil Holdings (XOM), and ConocoPhillips (COP) closed up more than +4%.
Cybersecurity stocks moved higher on Monday to provide support for the broader market. CrowdStrike Holdings (CRWD) and Palo Alto Networks (PANW) closed up more than +5%, and Zscaler (ZS) closed up more than +4%. Also, Cloudflare (NET) closed up more than +3%, Fortinet (FTNT) closed up more than +2%, and Okta (OKTA) closed up more than +1%.
Intel (INTC) closed down more than -4% after announcing its intention to offer $15 billion in common stock.
Monday.com (MNDY) closed down more than -4% after forecasting Q3 revenue of $370 million, weaker than the consensus of $372.8 million.
Trade Desk (TTD) closed down more than -2%, adding to last Friday’s -22% plunge, after reporting weaker-than-expected Q2 and forecasting Q3 revenue below consensus.
Samsara (IOT) closed down more than -2% after Piper Sandler downgraded the stock to neutral from overweight with a price target of $40.
Varex Imaging Corporation (VREX) closed up more than +48% after Teledyne Technologies agreed to acquire the company for $1.1 billion or $18.90 per share.
RadNet (RDNT) closed up more than +6% after raising its full-year Imaging Center revenue estimate to $2.37 billion to $2.42 billion from a previous estimate of $2.36 billion to $2.41 billion.
Hewlett Packard Enterprise (HPE) closed up more than +2% after Morgan Stanley upgraded the stock to overweight from neutral with a price target of $69.
Earnings Reports (8/11/2026)
Aramark (ARMK), Cardinal Health Inc (CAH), Cava Group Inc (CAVA), CoreWeave Inc (CRWV), H&R Block Inc (HRB), Lumentum Holdings Inc (LITE), Middleby Corp/The (MIDD), On Holding AG (ONON), Smithfield Foods Inc (SFD), Super Micro Computer Inc (SMCI).
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 Finish Lower as Soaring Crude Prices Spur Inflation Fears

Key Points
NXP beat Q2 revenue and earnings estimates on July 28, then fell 7.0% the next day.
July's decline erased April's 25.6% single-day gain, leaving NXP's stock behind the S&P 500 over 12 months.
Management's plan to double non-GAAP earnings per share targets 2030 or later, which isn't a get-rich-quick timeline.
Shares of NXP Semiconductors (NASDAQ: NXPI) fell 18.5% in July 2026, according to data from S&P Global Market Intelligence. The S&P 500 (SNPINDEX: ^GSPC) market index finished the month down 0.1%, so this was not one of those months where everything went sideways and the chipmaker went along for the ride. This one was personal, or at least sector-specific. Chiefly, NXP investors didn't like the Q2 2026 earnings report.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Two ways to read the same forecast
NXP reported Q2 results after the close on July 28. Revenue came in at $3.5 billion, up 19.5% year over year and 10% sequentially, against a consensus estimate of $3.45 billion. Adjusted earnings of $3.61 per share beat estimates by $0.11. Free cash flow was $791 million, or 22.6% of revenue. Every end market grew. Every region grew. Management used the word "record," and had earned it.
The stock promptly fell 7% the next day.
The culprit was almost certainly guidance, and specifically the width of NXP's forecast ranges. Management told investors to expect third-quarter revenue somewhere between $3.65 billion and $3.85 billion, with consensus sitting at $3.71 billion. Earnings guidance ran from $3.89 to $4.32 per share against a $4.01 estimate. Read the midpoints and it's a beat. Read the bottom of each range and it's a miss. Given the choice, Wall Street focused on the bottom.
That's not unreasonable. A company that's confident about the next 90 days usually says so with a narrower range.
July was also the worst month for semiconductors in more than a decade, as investors reconsidered how quickly AI infrastructure spending turns into profit. NXP's stock often gets lumped in with the broader semiconductor industry, rising or falling on news from memory chip makers or AI accelerator specialists. However, those panics have nothing to do with NXP's core business, which derives 58% of its revenue from the automotive sector. As a result, NXP's stock price doesn't always correlate closely with its underlying business prospects.
The long-term framing may not have helped either. Alongside the results, management laid out a roadmap to double non-GAAP earnings per share by 2030 or later, centered on software-defined vehicles, physical AI at the industrial edge, and a new data center business.
The data center piece is real and growing; communication infrastructure revenue rose 41% year over year to $452 million, and management expects the segment to clear $500 million in 2026. But "2030 or later" is a long horizon, and many investors don't have that kind of patience.
The case for staying put
The July drop wasn't entirely unfair. NXP jumped 25.6% on April 28 after its first-quarter report, its best single day in years, and kept going. July's drop essentially canceled April's market-beating jump. All things considered, the stock now trails the S&P 500 over 12 months, up 12.7% against 21.3% as of Aug. 10.
The honest caveat to NXP's potential upside: trailing 12-month revenue of $13.19 billion is roughly where NXP's sales sat two years ago. Semiconductors are cyclical, and this is a company climbing out of a trough rather than compounding through a challenging period.
NXP shares trade for just 20 times trailing earnings and 13 times forward estimates. The stock looks undervalued right now.
Should you buy stock in NXP Semiconductors right now?
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Anders Bylund has positions in NXP Semiconductors. The Motley Fool has positions in and recommends NXP Semiconductors. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why NXP Semiconductors Stock Dropped 18.5% in July

The S&P 500 Index ($SPX) (SPY) closed up +0.62% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.28%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.19%. September E-mini S&P futures (ESU26) rose +0.55%, and September E-mini Nasdaq futures (NQU26) rose +1.17%.
Stock indices settled higher on Friday amid strength in corporate earnings results and reduced Fed rate hike fears. Stock indices found support on Friday as bond yields fell after US July nonfarm payrolls unexpectedly declined and average hourly earnings rose less than expected, bolstering speculation that the Fed won’t be forced to raise interest rates any time soon. The 10-year T-note yield fell -3 bp to 4.65%. The payroll report cut the chances of a Fed rate hike at next month’s FOMC meeting to 44% from 58% before the report.
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Atlassian surged more than +36% to lead software stocks higher today after forecasting stronger-than-expected Q1 revenue. Cybersecurity stocks also rallied on Friday, led by a 4% jump in Cloudflare after it reported better-than-expected quarterly earnings. In addition, chipmakers received support on Friday as Microchip Technology rallied more than +13% after forecasting stronger-than-expected net sales for next quarter.
US July nonfarm payrolls unexpectedly fell by -23,000, weaker than expectations of an +80,000 increase and the first decline in 5 months. June payrolls were revised downward to show a +20,000 increase from the previously reported +57,000. The July unemployment rate unexpectedly fell -0.1 to a 13-month low of 4.1%, showing a stronger labor market than expectations of no change at 4.2%.
US July average hourly earnings rose +0.1% m/m and +3.2% y/y, weaker than expectations of +0.3% m/m and +3.5% y/y.
US June consumer credit rose $14.173 billion, stronger than expectations of $11.850 billion.
Thursday evening, St. Louis Fed President Alberto Musalem said policymakers cannot afford to tolerate higher inflation and "it is crucial that monetary policy put a meaningful restraint on underlying inflation, rather than tolerating somewhat higher inflation today to pursue productivity growth tomorrow."
Sep WTI crude oil prices (CLU26) rose more than +1% on Friday as the markets await news of an Iran-Oman agreement to partially reopen the Strait of Hormuz. A joint statement from the two countries is under review, and the route would remain active for two to four months, though the agreement does not mean a full reopening, according to Iranian officials. Iran said that a normalization of the strait will depend on the US lifting its blockade on Iranian ports.
However, crude prices gave up their gains and turned lower Friday afternoon in post-market trading after Reuters reported that the US will lift its blockade of Iranian ports once a deal to reopen shipping through the Strait of Hormuz is announced.
The Wall Street Journal reported on Friday that Arab negotiators are concerned that Iran's diplomats may not be able to guarantee compliance with any agreement reached, as Iran's lead negotiators are under pressure from hardline officials to eke out more explicit references to Iran's role in the strait and clearer benefits. On Thursday, Iran's semi-official Fars news agency reported that vessels belonging to the US, Israel, or any other nation that has "caused damage" to Iran would be prohibited from the Strait of Hormuz under the proposed deal with Oman to reopen the waterway, which would restrict some oil exports from several Gulf States.
The outlook for strong Q2 earnings is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 440 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 44% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Friday. The Euro Stoxx 50 climbed to a new all-time high and closed up +0.33%. China's Shanghai Composite rose to a 3-week high and closed up +1.02%. Japan's Nikkei-225 Stock Average closed down -0.12%.
Interest Rates
September 10-year T-notes (ZNU6) closed up +4.5 ticks on Friday. The 10-year T-note yield fell -2.4 bp to 4.654%. T-note prices rose on Friday after the Fed-friendly July payroll report showed an unexpected decline in nonfarm payrolls and a smaller-than-expected increase in average hourly earnings, bolstering speculation that the Fed won’t be forced to raise interest rates any time soon. T-notes fell back from their best level on Friday as stocks rallied, which curbed safe-haven demand for government debt securities.
European government bond yields moved lower on Friday. The 10-year German bund yield fell -0.8 bp to 3.132%. The 10-year UK gilt yield fell -1.6 bp to 4.921%.
German trade news was better than expected. German June exports rose +0.9% m/m, stronger than expectations of +0.5% m/m. Also, June imports rose +4.4% m/m, stronger than expectations of +2.0% m/m.
German June industrial production rose +0.2% m/m, right on expectations.
Markets are discounting an 85% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Microchip Technology (MCHP) closed up more than +13% to lead chipmakers higher after forecasting Q2 net sales of $1.59 billion to $1.62 billion, well above the consensus of $1.56 billion. Also, Qualcomm (QCOM) closed up more than +4%, and Marvell Technology (MRVL), NXP Semiconductors NV (NXPI), and Analog Devices (ADI) closed up more than +3%. In addition, Nvidia (NVDA), Applied Materials (AMAT), ASML Holding NV (ASML), KLA Corp (KLAC), and Texas Instruments (TXN) closed up more than +2%.
Atlassian (TEAM) closed up more than +35% to lead software stocks higher after forecasting stronger-than-expected Q1 revenue. Also, Palantir Technologies (PLTR) closed up more than +10% and ServiceNow (NOW) closed up more than +6%. In addition, Workday (WDAY) closed up more than +5%, and Salesforce (CRM) closed up more than +3% to lead gainers in the Dow Jones industrials. Finally, Oracle (ORCL), Datadog (DDOG), and Autodesk (ADSK) closed up more than +2%, and Intuit (INTU) and Adobe Systems (ADBE) closed up more than +1%.
Mining stocks rallied on Friday amid the surge in gold and silver prices. Coeur Mining (CDE) closed up more than +10%, and Anglogold Ashanti (AU) closed up more than +9%. Also, Newmont Corp (NEM) closed up more than +7%, and Hecla Mining (HL) closed up more than +6%. In addition, Barrick Mining (B) closed up more than +5%, Southern Copper (SCCO) closed up more than +3%, and Freeport McMoRan (FCX) closed up more than +2%.
Cybersecurity stocks are rallying today, led by a +5% jump in Cloudflare (NET) after it reported better-than-expected quarterly earnings. Also, Zscaler (ZS), Okta (OKTA), and CrowdStrike Holdings (CRWD) closed up more than +3%, and Palo Alto Networks (PANW) closed up more than +1%.
Doximity (DOCS) closed up more than +31% after raising its 2027 revenue forecast to $671 million to $681 million from a previous forecast of $664 million to $676 million, stronger than the consensus of $672.8 million.
Twilio (TWLO) closed up more than +24% after boosting its full-year adjusted operating income forecast to $1.14 billion to $1.16 billion from a previous forecast of $1.04 billion to $1.06 billion, higher than the consensus of $1.10 billion.
Natera (NTRA) closed up more than +20% after raising its full-year revenue forecast to $2.85 billion to $2.91 billion from a previous forecast of $2.74 billion to $2.82 billion, stronger than the consensus of $2.80 billion.
Airbnb (ABNB) closed up more than +17% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 revenue of $3.61 billion, better than the consensus of $3.58 billion, and said it now expects full-year revenue growth to improve to “at least mid-teens,” up from previous expectations for “low- to mid-teens.”
Maplebear (CART) closed up more than +10% after reporting Q2 revenue of $1.04 billion, better than the consensus of $1.03 billion, and forecasting Q3 gross transaction value of $10.30 billion to $10.55 billion, above the consensus of $10.27 billion.
Trade Desk (TTD) closed down more than -21% to lead losers in the S&P 500 after reporting Q2 revenue of $715 million, weaker than the consensus of $752.4 million, and forecasting Q3 revenue of $650 million, well below the consensus of $808.4 million.
Sweetgreen (SG) closed down more than -8% after cutting its full-year outlook and warning that diners are less willing to eat freshly prepared foods during the cyclospora outbreak.
ResMed (RMD) closed down more than -5% after reporting Q4 adjusted gross margin of 62.3%, below the consensus of 62.7%.
Monster Beverage (MNST) closed down more than -4% after reporting Q2 operating expenses of $$679.2 million, well above the consensus of $596.3 million.
Fiserv (FISV) closed down more than -3% as analysts cut the price target on the stock by an average of 9.8% since the company reported earnings on Thursday.
Earnings Reports (8/10/2026)
AAON Inc (AAON), AECOM (ACM), Amentum Holdings Inc (AMTM), AST SpaceMobile Inc (ASTS), Axsome Therapeutics Inc (AXSM), Bridgebio Pharma Inc (BBIO), Ferguson Enterprises Inc (FERG), JBS NV (JBS), Medical Properties Trust Inc (MPT), NIQ Global Intelligence Plc (NIQ), Rocket Lab Corp (RKLB), Simon Property Group Inc (SPG).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Higher as a Weak Jobs Report Allays Rate Hike Fears

The S&P 500 Index ($SPX) (SPY) today is up +0.61%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.00%. September E-mini S&P futures (ESU26) are up +0.66%, and September E-mini Nasdaq futures (NQU26) are up +1.14%.
Stock indices are moving higher today with some positive corporate earnings results. Stock indices added to their gains today as bond yields tumbled after US July nonfarm payrolls unexpectedly declined and average hourly earnings rose less than expected, bolstering speculation that the Fed won’t be forced to raise interest rates any time soon. The 10-year T-note yield is down -4 bp to 4.64%.
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Atlassian is up more than +34% to lead software stocks higher today after forecasting stronger-than-expected Q1 revenue. Cybersecurity stocks are also rallying today, led by an 8% jump in Cloudflare after it reported better-than-expected quarterly earnings. In addition, chipmakers received support today as Microchip Technology rose more than +12% after forecasting stronger-than-expected net sales for next quarter.
US July nonfarm payrolls unexpectedly fell by -23,000, weaker than expectations of an +80,000 increase and the first decline in 5 months. June payrolls were revised downward to show a +20,000 increase from the previously reported +57,000. The July unemployment rate unexpectedly fell -0.1 to a 13-month low of 4.1%, showing a stronger labor market than expectations of no change at 4.2%.
US July average hourly earnings rose +0.1% m/m and +3.2% y/y, weaker than expectations of +0.3% m/m and +3.5% y/y.
Thursday evening, St. Louis Fed President Alberto Musalem said policymakers cannot afford to tolerate higher inflation and "it is crucial that monetary policy put a meaningful restraint on underlying inflation, rather than tolerating somewhat higher inflation today to pursue productivity growth tomorrow."
Sep WTI crude oil prices (CLU26) are up slightly today as the markets await news of an Iran-Oman agreement to partially reopen the Strait of Hormuz. A joint statement from the two countries is under review, and the route would remain active for two to four months, though the agreement does not mean a full reopening, according to Iranian officials. Iran said that a normalization of the strait will depend on the US lifting its blockade on Iranian ports.
Gains in crude oil are limited after President Trump said negotiations between Iran and Oman over the Strait of Hormuz are "moving along." However, the Wall Street Journal reported that Arab negotiators are concerned that Iran's diplomats may not be able to guarantee compliance with any agreement reached, as Iran's lead negotiators are under pressure from hardline officials to eke out more explicit references to Iran's role in the strait and clearer benefits. On Thursday, Iran's semi-official Fars news agency reported that vessels belonging to the US, Israel, or any other nation that has "caused damage" to Iran would be prohibited from the Strait of Hormuz under the proposed deal with Oman to reopen the waterway, which would restrict some oil exports from several Gulf States.
The outlook for strong Q2 earnings is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 440 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 43% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 climbed to a new all-time high and is up +0.56%. China's Shanghai Composite rose to a 3-week high and closed up +1.02%. Japan's Nikkei-225 Stock Average closed down -0.12%.
Interest Rates
September 10-year T-notes (ZNU6) are up +13 ticks today. The 10-year T-note yield is down -5.5 bp to 4.623%. T-note prices jumped today on the Fed-friendly July payroll report that showed an unexpected decline in nonfarm payrolls and a smaller-than-expected increase in average hourly earnings, bolstering speculation that the Fed won’t be forced to raise interest rates any time soon. Lower crude oil prices today are also supportive for T-note prices.
European government bond yields are moving lower today. The 10-year German bund yield is down -2.0 bp to 3.120%. The 10-year UK gilt yield is down -3.8 bp to 4.900%.
German trade news was better than expected. German June exports rose +0.9% m/m, stronger than expectations of +0.5% m/m. Also, June imports rose +4.4% m/m, stronger than expectations of +2.0% m/m.
German June industrial production rose +0.2% m/m, right on expectations.
Markets are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Microchip Technology (MCHP) is up more than +12% to lead chipmakers higher after forecasting Q2 net sales of $1.59 billion to $1.62 billion, well above the consensus of $1.56 billion. Also, Marvell Technology (MRVL), KLA Corp (KLAC), and Analog Devices (ADI) are up more than +3%, and NXP Semiconductors NV (NXPI), Qualcomm (QCOM), ASML Holding NV (ASML), Applied Materials (AMAT), ARM Holdings Plc (ARM), and Texas Instruments (TXN) are up more than +2%.
Atlassian (TEAM) is up more than +31% to lead software stocks higher today after forecasting stronger-than-expected Q1 revenue. Also, Palantir Technologies (PLTR) is up more than +8% and ServiceNow (NOW) is up more than +6%. In addition, Workday (WDAY) is up more than +5%, and Autodesk (ADSK) and Intuit (INTU) are up more than +3%. Finally, Datadog (DDOG) and Adobe Systems (ADBE) are up more than +2%, and Salesforce (CRM) is up more than +2% to lead gainers in the Dow Jones industrials.
Cybersecurity stocks are rallying today, led by a +6% jump in Cloudflare (NET) after it reported better-than-expected quarterly earnings. Also, Zscaler (ZS) and Okta (OKTA) are up more than +2%, and CrowdStrike Holdings (CRWD) is up more than +1%. In addition, Palo Alto Networks (PANW) is up +0.72%, and Fortinet (FTNT) is up more than +0.24%.
Mining stocks are rallying today amid the surge in gold and silver prices. Anglogold Ashanti (AU) is up more than +11%, and Coeur Mining (CDE) is up more than +9%. Also, Newmont Corp (NEM) is up more than +7%, and Barrick Mining (B) is up more than +6%. In addition, Hecla Mining (HL) is up more than +5%, Southern Copper (SCCO) is up more than +3%, and Freeport McMoRan (FCX) is up more than +2%.
Doximity (DOCS) is up more than +43% after raising its 2027 revenue forecast to $671 million to $681 million from a previous forecast of $664 million to $676 million, stronger than the consensus of $672.8 million.
Twilio (TWLO) is up more than +29% after boosting its full-year adjusted operating income forecast to $1.14 billion to $1.16 billion from a previous forecast of $1.04 billion to $1.06 billion, higher than the consensus of $1.10 billion.
Natera (NTRA) is up more than +17% after raising its full-year revenue forecast to $2.85 billion to $2.91 billion from a previous forecast of $2.74 billion to $2.82 billion, stronger than the consensus of $2.80 billion.
Airbnb (ABNB) is up more than +15% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 revenue of $3.61 billion, better than the consensus of $3.58 billion, and said it now expects full-year revenue growth to improve to “at least mid-teens,” up from previous expectations for “low- to mid-teens.”
Maplebear (CART) is up more than +11% after reporting Q2 revenue of $1.04 billion, better than the consensus of $1.03 billion, and forecasting Q3 gross transaction value of $10.30 billion to $10.55 billion, above the consensus of $10.27 billion.
Trade Desk (TTD) is down more than -21% to lead losers in the S&P 500 after reporting Q2 revenue of $715 million, weaker than the consensus of $752.4 million, and forecasting Q3 revenue of $650 million, well below the consensus of $808.4 million.
Sweetgreen (SG) is down more than -10% after cutting its full-year outlook and warning that diners are less willing to eat freshly prepared foods during the cyclospora outbreak.
ResMed (RMD) is down more than -5% after reporting Q4 adjusted gross margin of 62.3%, below the consensus of 62.7%.
Fiserv (FISV) is down more than -4% as analysts cut the price target on the stock by an average of 9.8% since the company reported earnings on Thursday.
Earnings Reports (8/7/2026)
Ascendis Pharma A/S (ASND), Freedom Holding Corp/NV (FRHC), Mobility Global Inc (MBGL), Oklo Inc (OKLO), PPL Corp (PPL), Take-Two Interactive Software (TTWO), Vistra Corp (VST).
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.

NXP Semiconductors N.V.

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