Barnes Group’s Big Break

It’s another day, which means investors and traders were buying anything in the semiconductor space that isn’t tied down. Let’s see what you missed. 👇

First up, chip-equipment company Applied Materials soared to new all-time highs after citing “artificial intelligence” momentum during its earnings call. Adjusted earnings per share and revenues both topped expectations, while its current-quarter expectations also beat estimates. 🏭

It was another day of records for the U.S. stock market as more and more stocks got snatched up in the bullish animal spirits. Let’s continue this week’s trend of pointing out the ragingly bullish action traders have been dealing with. 👇

Below is a chart of the S&P 500 showing prices rising for 16 of the last 18 months, posting a 25% rally since the end of October. It was also announced after the bell that Super Micro Computer and Deckers Outdoor will join the index, replacing Whirpool and Zions Bancorp. 📈

Semiconductors continue to dominate the market and thus dominate our headlines. With that said, today we’ve got a fresh stock breaking out and another setting up, so stick with us. 👇

First up is Tower Semiconductor, an Israeli chip manufacturer that reported results today. The company’s revenue fell 13% YoY to $351.7 million during the fourth quarter but topped the $350 million expected by analysts. Its earnings per share were down about 30% YoY to $0.48, but again, better than anticipated. 🔺

The China trade remains a controversial one, with bulls looking to nail an epic bottom and bears looking for the collapse of the country’s stock market (and economy). However, despite all the crazy headlines about economic data, regulators banning short selling, and a whole lot more, some stocks are trying to stabilize. 📰

Today’s example is eCommerce giant JD.com, which reported an earnings and revenue beat after a long string of disappointments. While growth remains well off its pandemic-era highs, investors are happy to see that the business is at least stabilizing and being forecasted properly by management.