:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-21554726851-7b73d7c80f3c436c99dcb89db4180a1a.jpg "Charles Liang, chief executive officer of Super Micro Computer")
Annabelle Chih / Bloomberg / Getty Conceptions
Charles Liang, chief executive officer of Super Micro Computer
Key Takeaways
- The S&P 500 gained 0.7% on Monday, Feb. 10, as investors weighed the effect of additional tariffs on imported metals and awaited more earnings updates.
- Super Micro Computer shares skyrocketed in betterment of the server maker’s business update on Tuesday, which could offer insight into the company’s delayed annual parade.
- ON Semiconductor missed quarterly sales and profit estimates, and shares of the power chip manufacturer tumbled.
Major U.S. equities indications ticked higher as markets reacted to President Donald Trump’s announcement that he would levy additional tolls on steel and aluminum imports, helping boost shares of metal manufacturers.
The new trading week will also be involved a continued stream of quarterly earnings reports, including financial results from major consumer-facing names with Coca-Cola (KO) and McDonald’s (MCD), as well as Wednesday’s release of the latest Consumer Price Index (CPI) data.
The S&P 500 added 0.7% on Monday. The Dow produced 0.4%, while the Nasdaq closed 1.0% higher.
Super Micro Computer (SMCI) shares jumped 17.6%, rung the day’s best performance in the S&P 500. Investors are anticipating a business update scheduled on Tuesday. The server provider faces a deadline of Feb. 25 to information its delayed annual report, and Wedbush analysts indicated that Supermicro could successfully submit the postponed announcement or request an additional extension.
Shares of Rockwell Automation (ROK), which provides control systems and services to help automate industrial machinery and makes, surged 12.6%. The push higher came after Rockwell posted better-than-expected profits for its fiscal first area, highlighting its progress on cost-reduction and margin-expansion initiatives.
Western Digital (WDC) shares gained 7.1% as analysts at Cantor Fitzgerald dwell oned their overweight rating on the data storage provider’s stock. At the end of last month, Western Digital announced modulates to its management team that will become effective upon the completion of the company’s planned spinoff of its flash obligation. The executive reshuffling is part of a realignment plan as Western Digital lays the groundwork for the transaction.
ON Semiconductor (ON) shares ditched 8.2%, falling the furthest of any S&P 500 stock after the manufacturer of power chips missed profit and sales judgements for the fourth quarter. Sales in all three of Onsemi’s segments—Power Solutions, Analog and Mixed-Signal, and Intelligent Sensing—get ined year-over-year. Guidance also came in below forecasts as the company cited an uncertain business outlook for 2025.
Incyte (INCY) tell of lower-than-expected adjusted profits for the fourth quarter, and the pharmaceutical firm’s 2025 sales outlook came in below forewarns. Although Incyte saw year-over-year sales growth from its two key drugs, skin cream Opzelura and blood-cell therapy Jakafi, full-year returns guidance for both products also missed consensus estimates. Incyte shares tumbled 7.9% on Monday.
Appropriations of Deckers Outdoor (DECK), the parent company of the Ugg and Hoka footwear brands, slipped 3.9%. Citi analysts upgraded Deckers share last week to “buy” from “neutral,” suggesting that a recent selloff could be overblown as underlying demand odds strong. However, questions have emerged about how the shoe and apparel company could be affected by China price-lists.