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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>>>

Story Continues

Today's Must Read

Decent Comparable Sales Run to Fuel Costco's (COST) Top Line

Lam Research (LRCX) is gaining from AI-driven Demand for WFE Products

Strong Demand for HBM and Advanced Packaging Aids KLA (KLAC)

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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report

KLA Corporation (KLAC) : Free Stock Analysis Report

Lam Research Corporation (LRCX) : Free Stock Analysis Report

Costco Wholesale Corporation (COST) : Free Stock Analysis Report

Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report

Cytokinetics, Incorporated (CYTK) : Free Stock Analysis Report

Blue Ridge Bankshares, Inc. (BRBS): Free Stock Analysis Report

AXIL Brands, Inc. (AXIL): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

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The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive. KLA Corp (Symbol: KLAC) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.

But making KLA Corp an even more interesting and timely stock to look at, is the fact that in trading on Friday, shares of KLAC entered into oversold territory, changing hands as low as $236 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of KLA Corp, the RSI reading has hit 22.5 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 55.6. A falling stock price — all else being equal — creates a better opportunity for dividend investors to capture a higher yield. Indeed, KLAC's recent annualized dividend of 9.2/share (currently paid in quarterly installments) works out to an annual yield of 0.38% based upon the recent $2411.64 share price.

A bullish investor could look at KLAC's 22.5 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on KLAC is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

Click here to find out what 9 other oversold dividend stocks you need to know about »

Further KLAC Research:

KLAC Next Dividend DateFunds Holding KLACReal Estate Dividend Stocks

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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In early trading on Friday, shares of Arm Holdings topped the list of the day's best performing components of the Nasdaq 100 index, trading up 6.3%. Year to date, Arm Holdings registers a 232.8% gain.

And the worst performing Nasdaq 100 component thus far on the day is KLAC, trading down 90.0%. KLAC is lower by about 80.2% looking at the year to date performance.

Two other components making moves today are Adobe, trading down 7.8%, and Seagate Technology Holdings, trading up 4.2% on the day.

VIDEO: Nasdaq 100 Movers: KLAC, ARM

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

In early trading on Friday, shares of Mosaic topped the list of the day's best performing components of the S&P 500 index, trading up 6.9%. Year to date, Mosaic has lost about 6.4% of its value.

And the worst performing S&P 500 component thus far on the day is KLAC, trading down 90.0%. KLAC is lower by about 80.2% looking at the year to date performance.

Two other components making moves today are EchoStar, trading down 8.3%, and Albemarle, trading up 5.6% on the day.

VIDEO: S&P 500 Movers: KLAC, MOS

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge.

The Morning Bull - US Market Morning Update Friday, Jun, 12 2026

US stock futures are pointing higher this morning, with E-mini S&P 500 futures up about 0.8% and Nasdaq-100 minis gaining around 1.2%, as investors weigh hotter US inflation against still solid rate expectations. May consumer prices rose 0.5% month on month, pushing headline inflation to 4.2% and energy costs up 23.5% over the year, which means pricier gasoline and heating for households. At the same time, the 10 year Treasury yield is holding near 4.55%, suggesting markets still see a Federal Reserve hike later in the year. The key question is whether high energy costs and higher for longer rates hurt rate sensitive areas like housing and real estate more than they help energy producers and bank stocks.

With inflation running hot and rates pinned higher, focus on 67 resilient stocks with low risk scores before the next move hits.

Top Movers

Sandisk (SNDK) jumped 14.50% after multiple analysts lifted price targets on AI related demand. Coupang (CPNG) climbed 14.09% as a regulatory fine landed below market expectations, easing a key overhang. KLA (KLAC) gained 12.92% after brokers raised price targets on wafer fab equipment demand.

Is Sandisk still a smart investment or just hype? Read our most popular narrative and get all the answers you need.SNDK 1-Year Stock Price Chart

Top Losers

Oracle (ORCL) fell 8.53% after mixed Q4 results and a heavier focus on future AI infrastructure spending. Autodesk (ADSK) declined 7.10%. Adobe (ADBE) fell 6.25% after Q2 earnings and buyback updates failed to lift sentiment.

Before reacting to sharp pullbacks like these, it can help to sense check balance sheet strength and earnings quality using tools such as solid balance sheet and fundamentals stocks screener (47 results).

Read our free valuation report to discover if Oracle is now a bargain or a trap.

Look past the noise - uncover the top narrative that explains what truly matters for Oracle's long-term success.ORCL 1-Year Stock Price Chart

On The Radar

US manufacturing and housing data step into the spotlight next week, setting the tone after the latest inflation surprise.

US Manufacturing:NY Empire State Manufacturing Index on Monday will update the picture for factory activity and new orders. US Output:Industrial Production MoM on Monday gives a fresh read on production trends after May's CPI release. US Housing:NAHB Housing Market Index on Monday helps you gauge builder sentiment with mortgage rates near 6.6%. Eurozone Activity:Euro Area Industrial Production MoM on Monday offers context for global demand and export-exposed US sectors. Canada Housing:Housing Starts on Monday provides an extra check on North American housing momentum and construction-related demand.

Story Continues

Use our Portfolio or Watchlist features to track market-moving events like these and get alerts for the companies you own, free!

Don't Wait For The Winners, Find Them

When markets feel jumpy, you do not need to guess where the sturdier opportunities might be hiding. Start by scanning 46 high quality undervalued stocks that our team has already filtered for quality, balance sheet resilience, and timely potential.

Want to find your own potential winners? Our stock screener lets you run custom searches that fit your style and set timely alerts so you never miss new opportunities.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Barclays reiterates Overweight ratings on Applied Materials and KLA amid strong investment in new chip supply.

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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.

More news from Barchart

Stocks Climb Before the Open on U.S.-Iran Peace Hopes, PPI Data in FocusNasdaq Futures Plunge as Tech Selloff Deepens, U.S. Inflation Data in FocusStocks Set to Extend Rebound Amid AI Dip-BuyingStock Index Futures Climb as Tech Stocks Rebound, U.S. Inflation Data and SpaceX IPO Awaited

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

Oracle stock falls, leading decliners among S&P 500 components. Intel, Sandisk, and Micron rise as tech stocks recover following a brutal selloff.

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Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

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.

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Barclays reiterates Overweight ratings on Applied Materials and KLA amid strong investment in new chip supply.

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