108 stories mentioning Applied MaterialsUpdated 17d ago
Every FINWIRES story that references Applied Materials, newest first.
Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.
Brice Hill, Senior Vice President, CFO, on August 25, 2026, sold 7,500 shares in Applied Materials (AMAT) for $3,594,376. Following the Form 4 filing with the SEC, Hill has control over a total of 128,613 common shares of the company, with 128,613 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/6951/000162828026059277/xslF345X05/wk-form4_1787864517.xml
(Updates with market moves at the end of the day, and other changes, if any.)The S&P 500 retreated Friday from an all-time peak in the previous session, following downbeat retail sales and consumer sentiment reports, but still logged its third consecutive weekly gain.The index fell 0.2% to close at 7,785.76. The Nasdaq Composite declined 0.3% to 26,729.16, snapping a two-day advance, while the Dow Jones Industrial Average edged down 0.2% to 53,732.41. Among sectors, healthcare led the laggards, while energy paced the gainers.This week, the S&P 500 gained 0.4%, while the Nasdaq added 0.1%, both marking their third weekly advance in a row. The Dow lost 0.6% following two straight weeks of gains.Retail sales in the US unexpectedly decreased last month, registering the largest monthly drop in more than a year, amid declines in spending on motor vehicles and at gas stations.US consumer sentiment fell in August after two straight monthly gains amid continued inflation concerns, while year-ahead price growth expectations rose, preliminary results of a University of Michigan survey showed Friday.The reports follow official data on Thursday that showed producer prices held steady last month, defying expectations for a monthly rise. Earlier in the week, the Bureau of Labor Statistics published benign consumer inflation data for July that lowered bets for a Federal Reserve interest-rate increase next month."American consumers took a breather last month, despite the tailwind from rising equity markets," Sal Guatieri, senior economist at BMO Capital Markets, said in a report, discussing the retail sales report. "This, together with a weaker jobs report and subdued core CPI inflation, raise the odds of the (Federal Open Market Committee) staying patient again in September."Markets are currently pricing in a 67% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were higher, with the 10-year yield rising 4.7 basis points to 4.69% and the two-year yield up 2.7 basis point at 4.17%.West Texas Intermediate crude oil was up 1.3% at $82.32 a barrel in Friday late-afternoon trade, while Brent advanced 1.7% to $88.51. Both benchmarks were on track for weekly gains following two consecutive weekly declines.In an interview with Newsmax, Treasury Secretary Scott Bessent said the US will continue its blockade of Iranian ports, according to CNBC."Crude continues to gyrate on headlines surrounding the Strait of Hormuz, with traders caught between expectations that an eventual agreement could release additional Gulf barrels and the reality that six months of disruption have left global inventories depleted," Saxo Bank said in a report on Friday.Shares of Applied Materials (AMAT) slumped 5.1%, the third-steepest decline on the S&P 500, after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Reddit (RDDT) jumped nearly 13%, with the social media platform set to join the S&P 500 on Tuesday.Fox class B shares (FOX) rose 5.7%, among the best performers on the S&P 500, following a rating upgrade from Wells Fargo. Its class A shares (FOXA) advanced 5.5%.Spot gold climbed 0.6% to $4,374.30 per troy ounce.
(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes retreated after retail sales posted the steepest drop since May 2025, while crude oil rose amid the Trump administration's plans to impose unprecedented economic pain on Iran.The Nasdaq Composite fell 0.3% to 26,729.16, the S&P 500 slipped 0.2% to 7,785.76, and the Dow Jones Industrial Average declined 0.2% to 53,732.41 on Friday. Technology and consumer discretionary were among the steepest decliners, while energy led gainers.Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was for 0.1% growth, according to a survey compiled by Bloomberg.The probability of the Federal Reserve extending its policy pause to September jumped to 68% by Friday afternoon, from 56% a week ago, according to the CME FedWatch tool, building on gains after data this week showed consumer and wholesale price inflation rates, both headline and core, declined year over year in July."For the Fed, coupled with a weaker-than-expected jobs report last month, and some indications of cooling inflation, albeit from extremely elevated levels, a more moderate consumer perpetuates the expectation of a steady pace of policy for some time," Lindsey Piegza said in a note. "While not entirely removed, the more recent slew of increasingly moderate data will mitigate the sense of urgency for the Fed to adjust policy higher."The University of Michigan's preliminary consumer sentiment index fell to 51.0 in August from 55.2 in July, below expectations for a much smaller decrease to 55.0 in a Bloomberg-compiled survey.Respondents saw one-year inflation expectations at 4.3%, up from 4.2% in July, while five-year inflation expectations remained at 3.3% for the third straight month.Most US Treasury yields rose, with the 10-year yield up 4.3 basis points to 4.68%. The two-year marched 2.5 basis points higher to 4.17%.The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration's effort to force Tehran's capitulation after almost six months of war, according to a Bloomberg report."Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent was cited as saying in an interview with Newsmax on Thursday. The move will be part of a "one-two punch" that includes the continued blockade of Iran's ports, he added.Transit through the Strait of Hormuz appeared to grind to a near standstill on Friday after two more ships were attacked at the chokepoint, Reuters reported. The Abu Dhabi National Oil Company from the United Arab Emirates said its vessels were attacked on Thursday evening, the news report said, adding that the UAE government blamed Iran, which made no immediate comment.Crude oil futures rose, with the front-month US West Texas Intermediate contract up 1.3% to $82.32 per barrel. The global benchmark North Sea Brent jumped 1.6% to $88.50 per barrel.Applied Materials (AMAT) shares retreated 5.1%, among the worst performers on the S&P 500 and the Nasdaq, after the company reported fiscal Q4 earnings late Thursday.Sandisk (SNDK) shares jumped 7.4%, among the top gainers on the S&P 500 and the Nasdaq, after Wells Fargo and RBC lifted their price targets for the company.Gold futures edged up 0.3% to $4,431.5, while silver futures slipped 0.2% to $64.88.
US equity indexes ended lower Friday amid a drop in retail sales and after crude oil prices rose following the US plan to impose unprecedented economic measures against Iran.* Retail sales fell 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. This compares with 0.1% growth expected in a Bloomberg analyst survey.* The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration's effort to force Tehran's capitulation after almost six months of war, according to a Bloomberg report.* September West Texas Intermediate crude oil rose $1.05 to settle at $82.30 per barrel, while October Brent crude, the global benchmark, was last seen up $1.42 at $88.49.* Nebius (NBIS) has signed an agreement with Vantage Data Centers to deploy high-density artificial intelligence infrastructure powered by Nvidia (NVDA) at Vantage's CWL1 data center campus in Wales, the companies said Thursday. Shares of Nebius were up about 8.8%, the top gainer on the Nasdaq.* Applied Materials (AMAT) shares were down about 5.2%, among the worst performers on the S&P 500, after the company reported late Thursday lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.
Tech stocks were mixed late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.7%.The Philadelphia Semiconductor index shed 0.9%In corporate news, Applied Materials (AMAT) shares fell 5.3% after it reported late Thursday lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Microsoft-backed (MSFT) OpenAI is set to generate annualized revenue of more than $40 billion as per its current performance as the ChatGPT maker gears up for a market debut, Bloomberg reported. Microsoft shares were down 0.3%.Reddit (RDDT) will replace AvalonBay Communities (AVB) on the S&P 500 prior to the opening of trading on Aug. 18, S&P Dow Jones Indices said late Thursday. Reddit shares jumped past 12%.Sandisk (SNDK) shares climbed nearly 6% after Wells Fargo and RBC lifted their price targets for the company.
YXT.com Group (YXT) said Friday it has entered into agreements to sell 500,000 American depositary shares at $3.0 per ADS to some institutional investors. The stock closed at $5.65 Thursday.Shares sank 36%, with intraday trading volume of over 379,000, versus a daily average of roughly 1.2 million.KinderCare Learning Companies (KLC) reported late Thursday a decline in Q2 adjusted earnings and revenue, while its guidance for full-year 2026 sales missed market expectations.Shares plunged 45% as intraday trading volume catapulted to over 4.7 million from a daily average of about 717,000.Applied Materials (AMAT) shares dropped over 5% after the semiconductor equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year amid an increase in capital expenditures.More than 8.7 million shares traded intraday, compared with a daily average of about 9.58 million.Price: $3.64, Change: $-2.01, Percent Change: -35.58%
Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.7%.The Philadelphia Semiconductor index shed 1.1%In corporate news, Applied Materials (AMAT) shares fell 5.4% after it reported late Thursday lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Reddit (RDDT) will replace AvalonBay Communities (AVB) on the S&P 500 prior to the opening of trading on Aug. 18, S&P Dow Jones Indices said late Thursday. Reddit shares jumped 11%.Sandisk (SNDK) shares climbed past 6% after Wells Fargo and RBC lifted their price targets for the company.
(Updates with latest market prices and developments.)US benchmark equity indexes fell intraday as traders weighed retail sales data and a downbeat consumer sentiment report.The Nasdaq Composite was down 0.4% at 26,691.4 after midday Friday, while the Dow Jones Industrial Average edged down 0.2% to 53,731.4. The S&P 500, which reached an all-time high in the previous session, slipped 0.2% to 7,782.6.Among sectors, technology led the laggards, while energy paced the gainers.Retail sales in the US unexpectedly decreased last month, registering the largest monthly drop in more than a year, amid declines in spending on motor vehicles and at gas stations.US consumer sentiment fell in August after two straight monthly gains amid continued inflation concerns, while year-ahead price growth expectations rose, preliminary results of a University of Michigan survey showed Friday.The reports follow official data on Thursday that showed producer prices held steady last month, defying expectations for a monthly rise. Earlier in the week, the Bureau of Labor Statistics published benign consumer inflation data for July that lowered bets for a Federal Reserve interest-rate increase next month.Markets are currently pricing in a 67% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were higher intraday, with the 10-year yield rising 4.9 basis points to 4.69% and the two-year yield up 1.7 basis point at 4.16%.West Texas Intermediate crude oil was up 0.8% at $81.88 a barrel intraday, while Brent advanced 1.1% to $88.01. Both benchmarks were on track for weekly gains following two consecutive weekly declines.In an interview with Newsmax, Treasury Secretary Scott Bessent said the US will continue its blockade of Iranian ports, according to CNBC."Crude continues to gyrate on headlines surrounding the Strait of Hormuz, with traders caught between expectations that an eventual agreement could release additional Gulf barrels and the reality that six months of disruption have left global inventories depleted," Saxo Bank said in a report on Friday.Shares of Applied Materials (AMAT) were down 4.8% intraday, the second-steepest decline on the S&P 500, after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Reddit (RDDT) jumped nearly 12%, with the social media platform set to join the S&P 500 on Tuesday.Fox class A and B shares (FOXA, FOX) were both up 5%, among the best performers on the S&P 500, following a rating upgrade from Wells Fargo.Spot gold climbed 0.8% to $4,386.27 per troy ounce, while silver was little changed at $65.01 per ounce.
(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell after retail sales unexpectedly slumped in July, posting the largest monthly drop since May 2025, and crude oil rose amid the Trump administration's plans to impose unprecedented economic pain on Iran.The Nasdaq Composite fell 0.5% to 26,676.1, the S&P 500 slipped 0.2% to 7,780.2 and the Dow Jones Industrial Average declined 0.3% to 53,707.5 after midday Friday. Technology, healthcare and consumer discretionary were among the steepest decliners, while energy led gainers.Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was 0.1% growth, according to a survey compiled by Bloomberg."American consumers took a breather last month, despite the tailwind from rising equity markets," BMO Capital Markets Senior Economist Sal Guatieri said in a separate note. "This, together with a weaker jobs report and subdued core (consumer price index) inflation, raise the odds of the (Federal Open Market Committee) staying patient again in September."The probability of the Federal Reserve extending its policy pause to September jumped to almost 70% by Friday afternoon, from 56% a week ago, according to the CME FedWatch tool, building on gains after data this week showed headline and core consumer and wholesale price inflation rates declined year over year in July.The University of Michigan's preliminary consumer sentiment index fell to 51.0 in August from 55.2 in July, below expectations for a much smaller decrease to 55.0 in a Bloomberg-compiled survey.Respondents saw one-year inflation expectations at 4.3%, up from 4.2% in July, while five-year inflation expectations remained at 3.3% for the third straight month.Most US Treasury yields rose, with the 10-year yield up 5.1 basis points to 4.69%. The two-year yield climbed 1.9 basis points to 4.16%.Treasury Secretary Scott Bessent said the US plans to announce measures on Iran next week that have "never been seen," CNN reported. US Secretary of Defense Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera, a Middle Eastern broadcaster, reported.Transit through the Strait of Hormuz appeared to grind to a near standstill on Friday after two more ships were attacked at the chokepoint, Reuters reported. The Abu Dhabi National Oil Company from the United Arab Emirates said its vessels were attacked Thursday evening, the news report said, adding that the UAE government blamed Iran, which made no immediate comment.Crude oil futures rose, with the front-month US West Texas Intermediate contract climbing 0.9% to $81.96 per barrel and the global benchmark North Sea Brent jumping 1.3% to $88.05 per barrel.Applied Materials (AMAT) shares retreated 5%, one of the worst performers on the S&P 500 and the Nasdaq, after the company reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Sandisk (SNDK) shares jumped 6.7%, among the top gainers on the S&P 500 and the Nasdaq, after Wells Fargo and RBC lifted their price targets for the company.Gold futures advanced 0.5% to $4,440.1, and silver futures edged up less than 0.1% to $65.03.
Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.7%.The Philadelphia Semiconductor index shed 1.1%In corporate news, Applied Materials (AMAT) shares fell 5% after the company late Thursday reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.
All three major US stock indexes were down slightly in late-morning trading Friday, as the S&P 500 closes a week in which it hit an all-time intraday high, according to media reports.In company news, Workday (WDAY) is in talks to be acquired by private equity firm Silver Lake, Reuters reported Thursday, citing people familiar with the matter. The companies have engaged in recent months, but a deal is not guaranteed, the report said. Workday shares were down 3.9% around noon after soaring in the previous day.Applied Materials (AMAT) reported fiscal Q3 adjusted earnings late Thursday of $3.50 per diluted share, up from $2.48 a year earlier, and above the FactSet consensus estimate of $3.40. Fiscal Q3 revenue was $9.12 billion, up from $7.30 billion a year ago, and above the FactSet consensus of $9 billion. For fiscal Q4, the company expects adjusted EPS of $4.02, plus or minus $0.20, on revenue of $10.25 billion, plus or minus $500 million. Analysts expected EPS of $3.71 on revenue of $9.55 billion. Applied Materials shares were down 5.6%.Nu Holdings (NU) reported a Q2 net income late Thursday of $1.06 billion, up from $637 million a year earlier. Second-quarter revenue was $5.88 billion, up from $3.77 billion a year ago, and above the FactSet consensus of $5.39 billion. Nu shares were up $10.4%.Tesla (TSLA) is planning to reveal its new Roadster as soon as this month at an event that will feature a "flying" stunt, The Information reported Friday. Tesla shares were down 0.9%.Reddit (RDDT) will replace AvalonBay Communities (AVB) on the S&P 500 prior to the opening of trading on Aug. 18, S&P Dow Jones Indices said late Thursday. Reddit shares were up 14.0%.Birkenstock (BIRK) said an entity affiliated with L Catterton launched a $1 billion underwritten secondary offering of the company's shares. Birkenstock shares were down 2.9%.Price: $198.51, Change: $-7.94, Percent Change: -3.85%
Applied Materials' (AMAT) most important comment in its earnings call was that the company is doubling systems manufacturing capacity by 2028, UBS analysts said in a Friday note.UBS said that the capacity expansion is broadly consistent with its expectation of $14 billion in systems revenue per quarter, which would push earnings per share very close to $30.The analysts said the company should continue to gain market share in the wafer fabrication equipment business.UBS said that commentary on higher wafer fabrication equipment spending in H2 indicates it is likely to exceed $200 billion next year.UBS retained a buy rating on the stock and lowered the price target to $675 from $705.Shares of the company were down 5.5% in Friday trading.Price: $504.39, Change: $-30.16, Percent Change: -5.64%
Applied Materials' (AMAT) solid fiscal Q3 results and better-than-expected Q4 revenue outlook are pointing to stronger demand and supporting the company's growth heading into 2027, RBC Capital Markets said in a Thursday note.The company reported fiscal Q3 revenue of $9.1 billion and adjusted EPS of $3.50, above RBC's estimates of $8.9 billion and $3.36, respectively.DRAM revenue increased 52% year over year in fiscal Q3, and management expects a significant uptick in H2 as customers expand clean room capacity, RBC analysts said.Foundry revenue rose 22% year over year on advanced-node demand, while mature-node ICAPS demand is beginning to recover, RBC said.Advanced Packaging is now tracking to more than 70% growth in 2026, compared with previous expectation of more than 50%, RBC said.RBC maintained its outperform rating on Applied Materials and raised its price target to $600 from $520.Shares of the company were more than 5% lower in Friday trading.Price: $504.58, Change: $-29.96, Percent Change: -5.60%
Applied Materials (AMAT) has an average rating of buy and mean price target of $656.91, according to analysts polled by FactSet.by FactSet.Price: $510.40, Change: $-24.14, Percent Change: -4.52%
Applied Materials (AMAT) posted robust systems shipment growth in fiscal Q3, but the company's guide for flat sequential October-quarter gross margin growth reflects mix headwinds and accelerating employee hiring, Morgan Stanley said in a Friday research report.Morgan Stanley lowered its 2026 systems shipment growth forecast to 42% from 44%, the analysts said.Despite DRAM and 3-nanometer logic being material growth drivers in 2026, the investment firm said that the company's outgrowth versus wafer fab equipment looks narrower than expected, according to the note.Morgan Stanely reiterated its equalweight rating on the stock and adjusted its price target to $642 per share from $646.Price: $510.35, Change: $-24.19, Percent Change: -4.53%
Technology stocks were edging higher premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.9%.Reddit (RDDT) will replace AvalonBay Communities (AVB) in the S&P 500 prior to the opening of trading on Aug. 18, S&P Dow Jones Indices said. Shares of Reddit were up more than 11% pre-bell.Applied Materials (AMAT) shares were down more than 6% after the company issued fiscal Q4 outlook below analysts' expectations.Globant (GLOB) stock was down more than 12% after the company posted a decline in Q2 adjusted earnings.
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Friday after a record-high overnight close for the S&P 500.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.3% higher.The S&P 500 hit an intraday all-time high of 7,816.70 on Thursday before closing at 7,798.99, which was also an all-time high.US Defense Secretary Pete Hegseth said the US can keep the naval blockade on Iran "indefinitely," according to multiple media reports. US Treasury Secretary Scott Bessent said that the US planned to apply measures on the Middle Eastern nation that have "never been seen" before, including economic isolation, according to reports that cited an interview on Newsmax.Oil prices were slightly higher, with front-month global benchmark North Sea Brent crude down 0.1% at $86.97 per barrel and US West Texas Intermediate crude was flat at $81.22 per barrel.US retail sales fell 0.6% in July, following a 0.2% gain in the prior month and compared with expectations for a 0.1% increase in a survey compiled by Bloomberg.The University of Michigan consumer sentiment index for August, slated for 10 am ET, is expected at 55.0, down from 55.2 previously.In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.In equities, SpaceX (SPCX) stock was up 1.3% after company founder and Tesla (TSLA) CEO Elon Musk disclosed beneficial ownership of 6.42 billion SpaceX shares as of June 30, representing 48.4% of the company, in a regulatory filing. A Reuters report also said that Alphabet (GOOG, GOOGL) held 551.2 million shares of SpaceX valued at about $94.2 billion at the end of Q2.Uber Technologies (UBER) shares rose 2.3% after the company and Pony.ai (PONY) said late Thursday that they expanded their partnership to deploy over 2,000 robotaxis across Europe. Reddit (RDDT) stock was up more than 11% after S&P Dow Jones Indices said Thursday that the company is replacing AvalonBay Communities (AVB) in the S&P 500 prior to the opening of trading on Aug. 18.On the losing side, Applied Materials (AMAT) shares fell 6% after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.
The benchmark US stock measures were mostly pointing higher before the open Friday as investors await the latest retail sales report and digest fresh wholesale inflation data that pointed to easing price pressures.The S&P 500 edged up 0.1% and the Nasdaq added 0.2% in premarket activity, while the Dow Jones Industrial Average decreased 0.1%. The indexes finished the previous trading session in the green, with the S&P 500 reaching an all-time intraday high.The retail sales report for July is scheduled to be released at 8:30 am ET.The report comes after official data on Thursday showed that producer prices held steady last month, defying expectations for a monthly rise, amid declining energy costs. Earlier in the week, the Bureau of Labor Statistics shared benign consumer inflation data for July that lowered bets for a Federal Reserve interest-rate increase next month."While prices are still rising and inflation remains well above the (Federal Open Market) Committee's 2% target, the slightly slower pace of increase underscores hope earlier pressures from a global energy shock are already easing," Stifel said in a report.Markets are currently pricing in a 69% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were trending higher in premarket action, with the two-year rate rising 0.2 basis points to 4.14% and the 10-year rate gaining 1.2 basis points to 4.65%.In an interview with Newsmax on Thursday, Treasury Secretary Scott Bessent said the US plans to apply economic measures on Iran that "have never been seen in the history of economic isolation on a country," according to multiple media outlets. Bessent said the US will continue its blockade of Iranian ports.Defense Secretary Pete Hegseth reportedly said Thursday that the US military can keep the naval blockade on Iran going "indefinitely," according to CNBC.West Texas Intermediate crude oil inclined 0.7% to $81.82 a barrel before the opening bell, while Brent nudged 0.2% higher to $87.27.Shares of Applied Materials (AMAT) fell 5.6% pre-bell after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply. Reddit (RDDT) jumped 12%, with the social media platform set to join the S&P 500 on Tuesday.Friday's economic calendar also has the preliminary University of Michigan's consumer sentiment report for August at 10 am, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.Gold slipped 0.3% to $4,405 per troy ounce, while bitcoin declined 0.9% to $62,785.
Applied Materials (AMAT) fiscal fourth-quarter revenue outlook suggests slower full-year systems shipment growth than previously estimated, Morgan Stanley said in a client note Friday.The brokerage was expecting the semiconductor-equipment manufacturer to issue a revenue guidance of $10.5 billion for the ongoing three-month period, putting it on track for a gain of more than 40% in system shipments.However, Applied Materials said late Thursday that it anticipates revenue of $10.25 billion, plus or minus $500 million, for the fourth quarter, compared with the current FactSet-polled consensus of $9.96 billion. During a conference call with analysts, management indicated that its full-year outlook has strengthened since May, when it guided to shipment growth of greater than 30%.Morgan Stanley believes the company's "outgrowth" versus the wafer fabrication equipment industry now appears to be narrower than expected and lowered its systems shipment growth estimates to 42% from 44%. The brokerage expects 37% to 40% growth for the wafer fabrication equipment industry."By no means is 42% systems shipment growth 'bad,' but we do think investors were looking for (Applied Materials) to provide greater confidence in the magnitude and durability of that outgrowth," the brokerage said.Applied Materials shares fell 5.6% in the most recent premarket activity, though the stock has more than doubled so far this year.During the earnings call, Chief Financial Officer Brice Hill said the firm projects adjusted gross margin to be about 50.4% in the fourth quarter, up 230 basis points on a yearly basis, according to a FactSet transcript. The outlook suggests the metric will be flat sequentially, reflecting mix headwinds and increased employee hiring, according to Morgan Stanley.Morgan Stanley maintained its equal weight rating on Applied Materials' stock and lowered the price target to $642 from $646.
Applied Materials (AMAT) shares fell in after-hours trading Thursday after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Free cash flow for the nine months ended July 26 declined to $3.58 billion from $3.66 billion a year earlier, driven by a 35% increase in capital expenditures to $1.99 billion.Applied Materials shares fell 5% in after-hours trading. The stock has more than doubled this year.Adjusted earnings per share increased to $3.50 during the quarter ended July 26 from $2.48 a year earlier, topping the FactSet consensus of $3.40. Revenue rose 25% to $9.12 billion, exceeding the market estimate of $9 billion.Sales in the semiconductor-systems segment rose to $7.04 billion from $5.56 billion, while applied global services revenue increased to $1.78 billion from $1.46 billion."As the rapid global adoption of AI drives unprecedented demand for our materials engineering solutions, we are further raising our Semiconductor Systems revenue expectations for calendar 2026 and are confident we will grow faster than the market this year," CEO Gary Dickerson said in a statement.RBC Capital Markets expected Applied Materials to top Wall Street's forecasts and issue fiscal fourth-quarter guidance 5% to 10% above consensus, in line with strong peer performance in semiconductor thin-film deposition and etching."The company's value-based pricing is another potential near-term tailwind to revenues and margins," RBC said in a report.Applied Materials expects adjusted EPS of $4.02 a share, plus or minus $0.20, in the current quarter on revenue of $10.25 billion, plus or minus $500 million. Analysts project non-GAAP EPS of $3.71 and sales of $9.55 billion.
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