Adobe $ADBE reported a double beat and fell 5.3% on the news. The bears continued selling as the price closed the week at a new multi-week low.
The bears continued selling as the price closed Friday at a new multi-week low. In addition, the stock is below the VWAP anchored to the key pivot low on April 7, 2025.
No earnings reactions in the S&P 500, but we dove into what's happening with Regional Banks right now.
One of our favorites is on the cusp of resolving a massive base.
What's happening next week 👇
After Tuesday's closing bell, we'll hear from the $54B transportation behemoth, FedEx $FDX.
They have been punished for 3 consecutive earnings reports, and we'll be watching closely to see if the bulls can snap the losing streak.
After Thursday's closing bell, we'll hear from athletic apparel giant, Nike $NKE.
This company has been one of the biggest disasters in the S&P 500 in recent years. The market has punished shareholders for 9 of the last 12 earnings reports.
We'll also hear from Jefferies Financial $JEF, Paychex $PAYX, Carnival $CCL, and others.
There will be a lot to unpack here at The Beat Report.
We're most looking forward to the Micron $MU earnings report after Wednesday’s close, and here's why.
The $138B semiconductor stock is trading at its highest level since this time last year.
The MU setup ahead of Wednesday's earnings event 👇
The market expects Micron to report $8.85B in revenues and $1.59 in earnings per share.
This company sits at the heart of one of the most important trends in tech: memory and storage.
They're one of the few companies globally that manufacture DRAM and NAND chips, essential building blocks for everything from smartphones and PCs to cloud computing and artificial intelligence.
While GPU makers like Nvidia have dominated the AI narrative, Micron is a critical player behind the scenes.
AI workloads require massive amounts of high-bandwidth memory, and demand for next-gen HBM products is expected to surge.
Management has repeatedly called out 2025 and 2026 as inflection years, driven by tight supply, AI-driven demand, and a more disciplined pricing environment.
Yet despite that tailwind, the stock has been punished for two straight earnings reports, suggesting the bar is high and investors are demanding more than long-term promises... they want near-term execution.
The big question now: will this be the quarter where investors start rewarding the progress again?
We'll find out during the Wednesday night conference call and in Thursday's market reaction.
Semiconductors are at a key level of interest 👇
As you can see, the Semiconductor ETF $SMH has been carving out a base for over a year.
Since bottoming on April 7, the price has rallied over 50% in 50 trading sessions. Now, it's flirting with a massive breakout.
Micron is the 5th-largest holding, so rallying after Wednesday's earnings event could spark a fresh leg higher in the industry ETF.
New all-time highs in SMH would be incredibly bullish for the broader market.
Do you think it will happen?
Thank you for reading.
- The Beat Report Team
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