Stocks rose Tuesday with tech shares set to close out a historically good quarter on a high note. The industrials and materials sectors also were advancing broadly but market breadth wasn't particularly strong on the last trading session of the second quarter of 2026.
Semiconductor equipment makers Applied Materials and Lam Research rose 4.9% and 4.5%, respectively. The two stocks continued to advance for a second day after South Korean memory-chip giants SK Hynix and Samsung unveiled a $500 billion spending plan.
Sandisk gained 7.5% after closing lower in back-to-back trading sessions. Shares of the memory supplier have been on a torrid pace over the past 12 months but technical signals are beginning to appear that the stock might be overbought.
Advanced Micro Devices advanced 7.7% to $580.70 and was set to close with a market value about $900 billion for the first time ever. Wells Fargo raised its AMD price target to $615 from $505 and maintained an Overweight rating on the shares. The firm believes that demand for the chip maker's artificial-intelligence-optimized central processing units isn't going to slow down anytime soon.
Super Micro Computer rose 5% following an 8% fall Monday after Taiwanese investigators raided the AI server maker's office as part of a crackdown on alleged chip-smuggling to China.
Among other artificial-intelligence stocks, Corning fell 1%, after advancing 16% on Monday. Western Digital declined 2%.
ViaSat rose 11% after surging 23% on Monday. Shares of the satellite company have been moving higher on the back of Rocket Lab's deal to acquire Iridium Communications. ViaSat could be a potential acquisition target.
Air Products & Chemicals gained 8.6%, leading the S&P 500 for the trading session. In a regulatory filing, the world's top hydrogen supplier said it was finalizing a marketing and distribution agreement with Yara International for renewable ammonia. Air Products also reported it has exited its low-carbon energy complex in Louisiana and will record a pre-tax charge of around $2.9 billion in the fiscal third quarter.
AeroVironment jumped 16%. The drone and defense technology provider reported better-than-expected quarterly earnings. Guidance was a little light but investors appeared to be focusing on the fourth-quarter numbers that handily topped Wall Street expectations.
Concentrix stock plunged 15% after the AI-powered customer experience platform missed second-quarter earnings expectations and issued poor guidance. Its French peer Teleperformance was also down 12.6% in European trading.
Comcast rose 1% after closing 4.5% higher on Monday following the cable and entertainment giant's announced plans to split into two public companies through a spinoff of NBCUniversal and Sky. Wall Street's reaction to the news was positive on Tuesday. Both Deutsche Bank and Rosenblatt upgraded the stock to a Buy rating.
Verizon Communications declined 3%, AT&T dropped 4.5%, and T-Mobile moved 2.4% lower. The big three cellular service providers w ere continuing their declines from Monday on the Comcast spinoff news and the possibility that SpaceX and Charter Communications could bring a mobile phone to market.
Strategy fell 7.2% after a 13% jump in the previous session as investors continued to digest the company's new financial framework. The largest corporate holder of Bitcoin said it will hike the dividend rate on its Stretch preferred stock and authorized sales of the cryptocurrency to boost its U.S. dollar reserve. It also announced a plan to repurchase up to $1 billion of its common stock.
Zimmer Biomet Holdings declined 7.3%, making it the worst performing S&P 500 component. Pacira Biosciences announced Tuesday the divestiture of its drug-free painkiller system iovera to Zimmer for up to $140 million.
Retailer Nike and drinks giant Constellation Brands are scheduled to report earnings after the close of trading Tuesday.
Write to Callum Keown at callum.keown@dowjones.com and Kit Norton at kit.norton@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 30, 2026 13:07 ET (17:07 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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