-- Tech stocks advanced late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 2.6%.
The Philadelphia Semiconductor index rose 1.1%.
In corporate news, Intel (INTC) is expected to report a "slight beat" in its fiscal Q1 results amid robust server CPU demand, RBC Capital Markets said in a note. Intel shares climbed 1.5%.
Vulcan Energy Resources (ASX:VUL) said construction has started at its lithium chemical plant in Frankfurt, according to a Friday filing with the Australian bourse.The plant will convert lithium chloride into lithium hydroxide monohydrate (LHM) using electrolysis. The first phase of production will target capacity of 24,000 tonnes of LHM, which is sufficient for around 500,000 electric vehicle batteries per year, the company said.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target by $75 to $650, 20.5x our FY 27 (Jun.) EPS estimate, above CACI's three-year historical forward P/E average (18.6x) and peers (12.1x). We trim our FY 26 EPS view by $0.50 to $28.18 reflecting transactions costs associated with the ARKA acquisition and keep FY 27's at $31.77. CACI raised its FY 26 revenue and EBITDA margin guidance, increasing revenue to $9.5B-$9.6B from $9.3B-$9.5B and EBITDA margin to 11.8%-11.9%. The company maintained free cash flow guidance of at least $725M. The ARKA acquisition adds $2B of noncompetitive franchise programs and expands CACI's space-based sensor capabilities, combining with existing land, air, and sea-based sensors to cover all domains. With 98% of its FY 26 revenue secured from existing programs, CACI demonstrates strong revenue visibility and is well-positioned to achieve its long-term financial targets. However, immediate-term caution is warranted due to a sluggish government award environment, as reflected in the quarter's 0.9x book-to-bill ratio.
FleetPartners Group (ASX:FPR) updated its dividend outlook after completing its fiscal 2025 tax return, now expecting future dividends, including any first-half interim payout, to be fully franked ahead of its earlier September timeline, according to a Friday Australian bourse filing.The company also confirmed it will release its fiscal first-half financial results to the Australian Securities Exchange on May 7, the filing added.