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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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Q1 Earnings Outperformers: Lam Research (NASDAQ:LRCX) And The Rest Of The Semiconductor Manufacturing Stocks

As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at semiconductor manufacturing stocks, starting with Lam Research (NASDAQ:LRCX).

The semiconductor industry is driven by demand for advanced electronic products like smartphones, PCs, servers, and data storage. The need for technologies like artificial intelligence, 5G networks, and smart cars is also creating the next wave of growth for the industry. Keeping up with this dynamism requires new tools that can design, fabricate, and test chips at ever smaller sizes and more complex architectures, creating a dire need for semiconductor capital manufacturing equipment.

The 14 semiconductor manufacturing stocks we track reported a very strong Q1. As a group, revenues beat analysts' consensus estimates by 2.2% while next quarter's revenue guidance was in line.

Luckily, semiconductor manufacturing stocks have performed well with share prices up 10.8% on average since the latest earnings results.

Lam Research (NASDAQ:LRCX)

Founded in 1980 by David Lam, the man who pioneered semiconductor etching technology, Lam Research (NASDAQ:LRCX) is one of the leading providers of wafer fabrication equipment used to make semiconductors.

Lam Research reported revenues of $5.84 billion, up 23.8% year on year. This print exceeded analysts' expectations by 1.7%. Overall, it was an exceptional quarter for the company with revenue guidance for next quarter exceeding analysts' expectations and a beat of analysts' EPS estimates.

"Lam delivered record revenue and EPS in the March quarter as AI-driven demand reshapes the semiconductor industry," said Tim Archer, Lam Research's President and Chief Executive Officer.Lam Research Total Revenue

Interestingly, the stock is up 38% since reporting and currently trades at $366.35.

We think Lam Research is a good business, but is it a buy today? Read our full report here, it's free.

Best Q1: Kulicke and Soffa (NASDAQ:KLIC)

Headquartered in Singapore, Kulicke & Soffa (NASDAQ: KLIC) is a provider of production equipment and tools used to assemble semiconductor devices

Kulicke and Soffa reported revenues of $242.6 million, up 49.8% year on year, outperforming analysts' expectations by 5.5%. The business had a stunning quarter with a beat of analysts' EPS and adjusted operating income estimates.Kulicke and Soffa Total Revenue

The market seems happy with the results as the stock is up 20.6% since reporting. It currently trades at $113.07.

Is now the time to buy Kulicke and Soffa? Access our full analysis of the earnings results here, it's free.

Story Continues

Weakest Q1: Photronics (NASDAQ:PLAB)

Sporting a global footprint of facilities, Photronics (NASDAQ:PLAB) is a manufacturer of photomasks, templates used to transfer patterns onto semiconductor wafers.

Photronics reported revenues of $209.9 million, flat year on year, falling short of analysts' expectations by 2.8%. It was a disappointing quarter as it posted revenue guidance for next quarter missing analysts' expectations .

Photronics delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 42.6% since the results and currently trades at $30.72.

Read our full analysis of Photronics's results here.

Nova (NASDAQ:NVMI)

Headquartered in Israel, Nova (NASDAQ:NVMI) is a provider of quality control systems used in semiconductor manufacturing.

Nova reported revenues of $235.3 million, up 10.3% year on year. This number topped analysts' expectations by 3.5%. It was an exceptional quarter as it also recorded an impressive beat of analysts' adjusted operating income estimates and a significant improvement in its inventory levels.

The stock is up 11.1% since reporting and currently trades at $559.56.

Read our full, actionable report on Nova here, it's free.

Marvell Technology (NASDAQ:MRVL)

Moving away from a low margin storage device management chips in one of the biggest semiconductor business model pivots of the past decade, Marvell Technology (NASDAQ: MRVL) is a fabless designer of special purpose data processing and networking chips used by data centers, communications carriers, enterprises, and autos.

Marvell Technology reported revenues of $2.42 billion, up 27.6% year on year. This print was in line with analysts' expectations. Overall, it was a strong quarter as it also produced a significant improvement in its inventory levels and revenue guidance for next quarter topping analysts' expectations.

The stock is up 41.9% since reporting and currently trades at $281.95.

Read our full, actionable report on Marvell Technology here, it's free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today's crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US' conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

StockStory's analyst team — all seasoned professional investors — uses quantitative analysis and automation to deliver market-beating insights faster and with higher quality.

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

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After getting knocked around for three days, Wall Street decided it was time to get back up on Thursday morning.

The Dow Jones Industrial Average(DJINDICES: ^DJI) climbed 0.7% by noon, while the S&P 500(SNPINDEX: ^GSPC) added 0.4%. The Nasdaq Composite(NASDAQINDEX: ^IXIC) was up 0.6%, though it had been running as high as 1.3% earlier before losing some steam. A brief scare around 11 a.m., when a false hazmat alarm triggered a Pentagon lockdown, sent all three indexes into a brief dip toward flat for a few minutes. The all-clear came quickly, and so did the buyers.

Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »^DJI Chart

^DJI data by YCharts

Behind Thursday's modest bounce

Semiconductor stocks led the morning rally after entering correction territory earlier this week.

Chip equipment makers posted particularly strong gains, with Lam Research(NASDAQ: LRCX) up 8.4% and Micron Technology(NASDAQ: MU) rising 3.6%. Analysts have been raising price targets and talking up AI-driven demand. However, these stocks are too small to make a serious difference to any of the leading indexes today, despite their large jumps.

Likewise, Oracle(NYSE: ORCL) barely made a ripple on the S&P 500 index, and isn't even a member of the Nasdaq and Dow Jones lists. The averages barely noticed the software giant's beat-and-raise report with a $70 billion next-year budget for capital expenses, which sent the stock as much as 12.9% lower in the morning.

On the other hand, Google parent Alphabet(NASDAQ: GOOG)(NASDAQ: GOOGL) is down just 2.2% with no huge news of its own. Yet, it is moving the Nasdaq Composite and S&P 500 indexes more than any other stock today. That's the index-moving power of a $4.2 trillion market cap.

The morning's inflation data didn't help the market mood. The Producer Price Index rose 1.1% in May, hotter than the 0.7% Wall Street expected. Year-over-year, wholesale prices are up 6.5%, the biggest jump in over three years. The culprit is mostly energy, as oil-related costs accounted for about 80% of the increase.

Meanwhile, the U.S.-Iran situation remains fluid. President Trump threatened further military action overnight, and Iran claimed it had closed the Strait of Hormuz. U.S. officials dispute that, and reports suggest diplomatic back channels are still active. It's hard to tell what's going on behind the scenes in and around Iran. Oil prices reflected the uncertainty, with West Texas Intermediate up by 0.5%.

Story Continues

Image source: Getty Images.

Looking ahead

Thursday's session reflects a market caught between competing forces. Investors are bargain-hunting in semiconductors after a 10% correction, but sticky inflation and geopolitical risk are capping the enthusiasm. The iShares Bitcoin Trust ETF(NASDAQ: IBIT) rose 1.2%, reverting to Bitcoin's (CRYPTO: BTC) long-running pattern of rising alongside volatile equities rather than acting as a traditional safe haven.

All eyes now turn to the Friday session, when SpaceX (expected ticker: SPCX) is expected to debut on public markets at a valuation near $1.75 trillion. Some analysts believe this week's tech weakness partly reflects investors selling existing positions to make room for the largest stock offering ever.

For investors with a longer time horizon, the lesson is familiar: one green day doesn't erase the questions that caused the red ones. Inflation, interest rates, and geopolitics haven't gone anywhere. They're just taking a breather. Time will tell how long the uptick lasts.

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Dow Jones and S&P 500 Climb Thursday as Wall Street Shakes Off Three-Day Slump Before SpaceX IPO was originally published by The Motley Fool

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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!

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

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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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Guinness Global Innovators, an investment management company, recently released its Q1 2026 quarterly investor update for its "Guinness Global Innovators Fund". A copy of the letter is available to download here. The Guinness Global Innovators Fund focuses on investing in global companies that benefit from innovation in technology, communication, globalization, and management strategies. In Q1 2026, the fund returned was -4.5% (GBP), compared to -1.6% for the MSCI World Index and -2.6% for the IA Global sector average. The quarter saw major changes in market sentiment due to geopolitical tensions and energy market disruptions. The market shifted focus from growth-oriented mega-cap technology and software stocks to value stocks, defensives, international markets, and physical economy sectors. The fund's lack of exposure to more defensive sectors and energy negatively impacted quarterly performance. The letter discusses how the geopolitical situation influences market dynamics and examines software industry weaknesses to determine the structural change in the landscape and how companies are being repriced in the market. In addition, please check the Strategy's top five holdings to know its best picks in 2026.

In its first-quarter 2026 investor letter, Guinness Global Innovators Fund highlighted Lam Research Corporation (NASDAQ:LRCX) as a notable contributor. Lam Research Corporation (NASDAQ:LRCX) is a leading semiconductor equipment company that supplies semiconductor processing equipment for the fabrication of integrated circuits. On June 10, 2026, Lam Research Corporation (NASDAQ:LRCX) closed at $321.80 per share. One-month return of Lam Research Corporation (NASDAQ:LRCX) was 7.57%, and its shares gained 251.08% over the past 52 weeks. Lam Research Corporation (NASDAQ:LRCX) has a market capitalization of $402.43 billion.

Guinness Global Innovators Fund stated the following regarding Lam Research Corporation (NASDAQ:LRCX) in its Q1 2026 investor letter:

"Lam Research Corporation (NASDAQ:LRCX) also performed strongly in the quarter. Lam is a leading semiconductor equipment manufacturer providing wafer fabrication equipment (WFE). In supplying the highly specialised tools need to manufacture advanced chips, Lam sits at the heart of the semiconductor value chain. As demand for AI, high-performance computing, and datacentre infrastructure has accelerated, foundries and integrated device manufacturers have responded with record levels of capital expenditure, driving a strong upcycle in WFE spending. The AI-infrastructure build-out is particularly important, since hyperscalers require both more chips and increasingly complex architectures. This materially increases equipment intensity across the manufacturing process which, in addition to further product wins, is expected to drive share gains for Lam. The depth and breadth of the current investment cycle into AI have expanded Lam's customer base and widened its addressable opportunity. The strength of its competitive positioning was evidenced by the latest quarterly report, in which results and guidance came in materially ahead of expectations. DRAM and AI-related demand rose sharply, services growth surprised to the upside, and China revenues were more resilient than feared. Despite some near-term margin pressure, the outlook is positive, with management pointing to sustained growth into next year due to the WFE upcycle being constrained by supply rather than demand. Specifically, the supply-demand imbalance in high-bandwidth memory is causing increased uptake for Lam's tools such as SABRE and Syndion. While valuations of WFE stocks have become more demanding following strong performance, the combination of structural AI demand, rising equipment intensity and highly recurring service revenues supports our view of Lam as a high-quality beneficiary of the next tailwind to semiconductor growth."

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Morgan Stanley Raises Lam Research (LRCX) Valuation on Strong DRAM Investment Forecast

Lam Research Corporation (NASDAQ:LRCX) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 123 hedge fund portfolios held Lam Research Corporation (NASDAQ:LRCX) at the end of the first quarter, up from 104 in the previous quarter. Lam Research Corporation's (NASDAQ:LRCX) revenue for the March quarter of 2026 was $5.84 billion, representing a 9% sequential increase and a 24% increase compared to Q1 2025. While we acknowledge the potential of Lam Research Corporation (NASDAQ:LRCX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on thebest short-term AI stock.

In another article, we covered Lam Research Corporation (NASDAQ:LRCX) and shared the list of top unstoppable growth stocks to invest in. Sands Capital Select Growth Strategy initiated a position in Lam Research Corporation (NASDAQ:LRCX) during Q1 2026. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

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Last week's selloff in AI stocks was painful for the mainstream crowd--and an opportunity for us contrarian income investors.

AI darling NVIDIA (NVDA) dropped 8.5% on the week. Others took bigger hits: Micron Technology (MU), for example, fell 16.6%.

The result? A chance for us to pick up our favorite AI-focused dividend funds on the dip--starting with one suddenly cheap "all-in-one" play from the portfolio of my CEF Insider service.

That would be the Columbia Seligman Premium Technology Growth Fund (STK), which holds key AI providers like Microsoft (MSFT), NVIDIA and Alphabet (GOOGL), as well as AI-infrastructure plays like Lam Research (LRCX) and Bloom Energy (BE).

STK is on our radar now because the fund suddenly trades at a 4.6% discount to net asset value (NAV, or the value of its underlying portfolio), after averaging a 2.3% premium over the last decade.

And when I say this one is "suddenly" on sale, I mean it:

STK's Speedy (and Likely Temporary) Drop Into the Bargain Bin

That's a big decline for a fund that's returned a hefty 42.8% for us since we added it to our portfolio in the November issue. I see that gain as just the start--and STK's drop into discount territory as a brief "intermission" we're going to take advantage of. Here's why I say that.

Investors Sell Because the Economy Is ... Too Strong?

Truth is, this latest stock-market selloff was not what most people thought it was. That's because the reason behind it is, frankly, pretty wild: The economy is too strong.

The selloff came in response to the latest jobs report, which showed that the US added 172,000 jobs in May, nearly double economists' expectations.

The logic behind that is as follows: If the economy is heating up, the Fed is more likely to hike interest rates. So stocks fell because higher rates weigh on their profits. Tech stocks are particularly rate-sensitive.

This all sounds straightforward enough. But there are some problems with this thesis.

For one, expectations of a rate cut had largely disappeared before the jobs report came out. In fact, talk of a potential rate hike was already in the air. All in all, the rate outlook didn't change all that much after the report was released, so its effect on the overall state of play was pretty minimal.

So why, then, did stocks--especially tech stocks--pull back? The answer is straightforward: Investors were simply taking profits after the market's strong run, particularly since the end of March.

They did this all at the same time for the same reason. With the blowout jobs report, a new narrative is about to take root in the press: Interest rates will rise, and stocks could suffer as a result. That will cause uncertainty and, as a result, higher volatility. Selling into that trend is a way to lock in profits.

But the savviest of these investors also unloaded some of their holdings (and again, tech holdings in particular) for a reason that means more to us: so they'll have cash freed up to buy when the market gets overly panicky, as it always does.

These canny investors know (as do we!) that we've seen this movie before--not just in history, but just within the past few months!

On February 22, a firm called Citrini Research published a note on Substack warning of an impending economic collapse due to AI.

Investors used the fear created by that report to take profits, as well. But of course, that didn't last long: All of these stocks had fully recovered by the beginning of April. And they probably would've recovered faster if the Iran conflict hadn't begun on February 27.

So, what we have in front of us today is a case of history repeating itself. But of course, history never repeats exactly.

Here's the twist: The February crash was based on Citrini's view that over the next two years, corporations would see their profits surge as machines took over white-collar jobs. So we'd see a jump in unemployment due to AI.

In other words, just a single Substack post was enough to prompt investors to sell and take profits at that time. We've got a similar situation today, but for the opposite reason: Investors are selling because AI is creating jobs.

We've already seen many economists make the argument that "AI will create more jobs, not fewer," as Apollo Global Management Chief Economist Torsten Slok put it.

Back in May--before the blowout employment report--Slok also noted that there is "zero evidence of AI-related job losses" and shortly after that documented the increase in new US businesses formed in part due to AI.

This is not a new position. Goldman Sachs made the same argument in 2023; MIT professor David Autor said much the same in 2024; and Stanford economics professor Erik Brynjolfsson said it again in 2025.

There are dozens more examples, but I'll spare you the list.

That's why we're looking to CEFs like "suddenly cheap" STK today. Buying now locks in the fund's (very well covered) 3.6% yield and sets us up for a second round of gains as mainstream investors realize their mistake and bid these AI stocks back up.

This idea--rotating into CEFs when they're oversold and then selling when they're overbought--is the heart of our CEF Insider philosophy, and a proven way to build wealth over time. And even if we have to wait for the next surge in our holdings, that's fine, because we get a passive income stream while we do.

These 10% Payers Are Primed for AI's NEXT Wave--and They're Cheap (for Now)

Other top AI CEFs have seen their discounts widen in the last couple of weeks, too, and many of these funds offer much higher yields than STK, to boot.

In fact, the four funds I'm pounding the table on now yield a hefty 10% on average. They not only get us in on the Microsofts and NVIDIAs of the AI world at a discount--they target other non-tech companies primed to be supercharged by AI, too.

One of these funds, for example, holds the most innovative pharmaceutical companies out there.

As AI spreads through the drug business, it'll slash development times, giving these companies years more of sales on their most profitable drugs before their patents expire.

We're talking billions of dollars in extra revenue here--but our 13% (!) paying pharma fund is still off the radar, trading at a ridiculous 9.7% discount as I write this.

It's the same story at our other 3 funds, all of which stand to gain from the coming "pivot points" in the economy as AI unleashes growth in surprising ways.

Click here and I'll tell you more about these 4 "stealth" 10%-paying funds, including how each stands to gain on the ongoing AI buildout. You'll also get a free Special Report revealing their names and tickers.

Further STK Research:

Warren Buffett Dividend StocksDividend Growth Stocks: 25 AristocratsFuture Dividend Aristocrats: Close Contenders

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