24H | Chip and Optical Communications Stocks Pull Back

Tiger Newspress11:26

Dow Futures fell 0.03%, S&P 500 Futures fell 0.26%, Nasdaq Futures fell 0.65% as risk appetite softens amid broad semiconductor weakness overnight.

Optical communications stocks dropped in overnight trading. Fabrinet fell 9%; AXT fell 5%; Applied Optoelectronics, POET Technologies, and Coherent fell 4%; Corning, Lumentum, and Credo Technology fell 3%; Ciena fell 2%. Fabrinet reported fourth quarter results that exceeded analyst expectations, though shares slid following the announcement despite strong guidance.

Chip stocks pulled back in overnight trading. Direxion Daily Semiconductors Bull 3x Shares, SanDisk, and Western Digital fell 4%; Seagate Technology, Marvell Technology, Micron Technology, ARM Holdings, and Intel fell 3%; SK hynix, AMD, and ASML fell 2%; TSMC and Nvidia fell 1%.

CoreWeave retreated 3%. Shares were pressured by planned insider selling and bearish options activity.

Bloom Energy fell 3.2%. Jefferies maintained a Hold rating amid sector pressure.

NEBIUS slid 2.5%. Persistent short-selling and bearish options bets weighed on the stock.

Elsewhere, APPLIED DIGITAL CORP falling 2.50%.

Among other individual movers, Unusual Machines Inc (UMAC) fell 4.38%, IONQ Inc. declined 2.60%, XPeng Inc. fell 2.54%, Rigetti Computing (RGTI) retreated 2.20%, Cipher Mining Inc. (CIFR) slipped 2.16%.

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