Incyte, McDonald's, and a slew of other companies experienced notable stock movements as trading unfolded this week. Incyte's adjusted profit of $1.43 per share fell short of FactSet's anticipated $1.49, influencing its market perception. Meanwhile, McDonald's shares soared over 3% following their earnings announcement, reflecting strong investor confidence. Semtech's shares plummeted by a staggering 30.8% after the semiconductor manufacturer warned that net sales from its CopperEdge products would likely fall short of previous estimates for fiscal year 2026. On the other hand, Rockwell Automation's shares jumped 12.8% as the company exceeded earnings expectations with a fiscal first-quarter adjusted earnings report of $1.83 per share, surpassing the FactSet consensus of $1.58.
Rivian also saw a positive trajectory, with shares rising over 3.7% after announcing the availability of its electric commercial van to all U.S. customers. Steel and aluminum stocks experienced an upswing following President Donald Trump's announcement of impending 25% tariffs on steel and aluminum imports. Cleveland-Cliffs led the charge with an 18% gain, while Nucor, Steel Dynamics, and U.S. Steel saw increases of 6%, 5%, and 4%, respectively.
Johnson Controls International gained 2% after UBS upgraded its rating to buy from neutral, signaling increased investor optimism. T-Mobile's shares rose about 3%, demonstrating steady growth in the telecommunications sector. However, not all semiconductor companies shared the same fortune; On Semiconductor's shares plunged 9% as it reported a miss in both fourth-quarter earnings and revenue.
GameStop saw a boost of over 7% after CEO Ryan Cohen posted a photo with Michael Saylor, co-founder and chairman of the largest corporate holder of bitcoin, sparking interest among investors. Super Micro's shares advanced by 3.4% ahead of its second-quarter earnings release, creating positive anticipation in the market.
Alcoa also enjoyed a rise of more than 3%, aligning with the broader uptick in metal stocks. Meanwhile, BP jumped an impressive 7.3% following reports that Elliott Management had taken a stake in the oil giant, signaling potential strategic shifts within the company.
Monday.com experienced a remarkable surge of 30% in its shares after reporting fourth-quarter results that surpassed market expectations. The project management software company's performance highlighted its resilience and adaptability in a competitive market landscape.