U.S. Movers: On Semiconductor, Upwork

On Semiconductor Corp. decreased 4.5% to $62.11 after the advanced chipmaker reported mixed fourth-quarter results. 

Revenue decreased to $1.5 billion from $1.7 billion, net income attributable to shareholders fell to $181.8 million from $379.9 million, and diluted earnings per share eased to 45 cents from 88 cents a year ago. 

The company announced a new share repurchase program of up to $6 billion over the next three years and established a new collaboration agreement with GlobalFoundries to develop and manufacture next-generation gallium nitride (GaN) power devices, beginning with 650 volts. 

On Semiconductor estimated first-quarter revenue to range between $1.44 billion and $1.54 billion and diluted earnings per share between 28 cents and 38 cents. 

Upwork Inc. plunged 24% to $14.16 after the freelance platform operator reported a sharp decline in active clients at the end of 2025 and offered a weak revenue outlook for the current quarter. 

Revenue increased 4% to $198.4 million from $119.1 million, net income plunged to $15.6 million from $147.2 million, and diluted earnings per share dropped to 12 cents from $1.03 a year ago. 

The income tax benefit of $128.8 million in the fourth quarter of 2024 swung to a provision of $18.4 million in the corresponding period in 2025, which sharply impacted the net income in the final quarter of 2025.

Active clients at the end of 2025 decreased to 785,000 from 832,000, and gross sales value increased 7% to $5,129 from the same period a year ago, respectively. 

U.S. Investors Hold Out for Higher Highs Despite Recent AI Jitters

U.S. stocks edged lower in early trading, and investors awaited key economic data later in the week.

The S&P 500 Index declined 0.06%, and the tech-heavy Nasdaq Composite decreased 0.2% after rallying for two straight sessions. 

Bargain hunters returned on Friday, and the advance in tech stocks continued for the second consecutive session on Monday as optimism prevailed. 

Despite last week's sell-off, investors are hopeful that market indexes can continue to make new highs amid earnings optimism. 

On the economic front, retail sales data are scheduled on Tuesday, nonfarm payrolls on Wednesday, and a consumer inflation update on Friday. 

This week, investors are looking forward to the release of quarterly updates from Coca-Cola Company, Cisco, Hasbro, Spotify, McDonald's, Applied Materials, Becton Dickinson, Arista Networks, S&P Global, and Moody's Corporation. 

U.S. Movers

On Semiconductor Corp. decreased 4.5% to $62.11 after the advanced chipmaker reported mixed fourth-quarter results. 

Revenue decreased to $1.5 billion from $1.7 billion, net income attributable to shareholders fell to $181.8 million from $379.9 million, and diluted earnings per share eased to 45 cents from 88 cents a year ago. 

The company announced a new share repurchase program of up to $6 billion over the next three years and established a new collaboration agreement with GlobalFoundries to develop and manufacture next-generation gallium nitride (GaN) power devices, beginning with 650 volts. 

On Semiconductor estimated first-quarter revenue to range between $1.44 billion and $1.54 billion and diluted earnings per share between 28 cents and 38 cents. 

Upwork Inc. plunged 24% to $14.16 after the freelance platform operator reported a sharp decline in active clients at the end of 2025 and offered a weak revenue outlook for the current quarter. 

Revenue increased 4% to $198.4 million from $119.1 million, net income plunged to $15.6 million from $147.2 million, and diluted earnings per share dropped to 12 cents from $1.03 a year ago. 

The income tax benefit of $128.8 million in the fourth quarter of 2024 swung to a provision of $18.4 million in the corresponding period in 2025, which sharply impacted the net income in the final quarter of 2025.

Active clients at the end of 2025 decreased to 785,000 from 832,000, and gross sales value increased 7% to $5,129 from the same period a year ago, respectively. 

U.S. Investors Hold Out for Higher Highs Despite Recent AI Jitters

U.S. stocks edged lower in early trading, and investors awaited key economic data later in the week.

The S&P 500 Index declined 0.06%, and the tech-heavy Nasdaq Composite decreased 0.2% after rallying for two straight sessions. 

Bargain hunters returned on Friday, and the advance in tech stocks continued for the second consecutive session on Monday as optimism prevailed. 

Despite last week's sell-off, investors are hopeful that market indexes can continue to make new highs amid earnings optimism. 

On the economic front, retail sales data are scheduled on Tuesday, nonfarm payrolls on Wednesday, and a consumer inflation update on Friday. 

This week, investors are looking forward to the release of quarterly updates from Coca-Cola Company, Cisco, Hasbro, Spotify, McDonald's, Applied Materials, Becton Dickinson, Arista Networks, S&P Global, and Moody's Corporation. 

U.S. Movers

On Semiconductor Corp. decreased 4.5% to $62.11 after the advanced chipmaker reported mixed fourth-quarter results. 

Revenue decreased to $1.5 billion from $1.7 billion, net income attributable to shareholders fell to $181.8 million from $379.9 million, and diluted earnings per share eased to 45 cents from 88 cents a year ago. 

The company announced a new share repurchase program of up to $6 billion over the next three years and established a new collaboration agreement with GlobalFoundries to develop and manufacture next-generation gallium nitride (GaN) power devices, beginning with 650 volts. 

On Semiconductor estimated first-quarter revenue to range between $1.44 billion and $1.54 billion and diluted earnings per share between 28 cents and 38 cents. 

Upwork Inc. plunged 24% to $14.16 after the freelance platform operator reported a sharp decline in active clients at the end of 2025 and offered a weak revenue outlook for the current quarter. 

Revenue increased 4% to $198.4 million from $119.1 million, net income plunged to $15.6 million from $147.2 million, and diluted earnings per share dropped to 12 cents from $1.03 a year ago. 

The income tax benefit of $128.8 million in the fourth quarter of 2024 swung to a provision of $18.4 million in the corresponding period in 2025, which sharply impacted the net income in the final quarter of 2025.

Active clients at the end of 2025 decreased to 785,000 from 832,000, and gross sales value increased 7% to $5,129 from the same period a year ago, respectively. 

Takaichi's Election Win Powers 2-Day Tokyo Market Rally

Stocks in Japan advanced for the second consecutive session on Tuesday following Prime Minister Sanae Takaichi's solid victory in Sunday's general election. 

The Nikkei 225 Stock Average soared 2.4%, the broader Topix Index increased 1.8%, and the yen strengthened to 155.45 against the U.S. dollar. 

Prime Minister Sanae Takaichi is expected to push for higher government spending, lower income tax, and suspension of the 8% sales tax on food for two years. 

However, investors are worried that the government's focus on expanding fiscal spending could spike inflation and drive the yen lower. 

For now, investors appear to give Takaichi's administration the benefit of the doubt after she said expanded stimulus measures are not likely to strain Japan's public finances. 

In overnight trading, benchmark indexes in New York advanced for the second consecutive session on Monday as investors searched for bargains in recently beaten-down stocks. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average increased 2.4% to 57,683.64, and the broader Topix Index added 1.8% to 3,851.34. 

Fujikura Ltd. jumped 4.5% to ¥22,945.0, Kioxia Holdings Corp. advanced 2.4% to ¥18,780.0, and SoftBank Group increased 11% to ¥4,717.0.

Sumitomo Mitsui Financial Group increased 2.9% to ¥6,157.0, Mitsubishi UFJ Financial Group advanced 2.7% to ¥3,039.0, and Mizuho Financial Group 3.9% to ¥7,850.0.

Takaichi's Election Win Powers 2-Day Tokyo Market Rally

Stocks in Japan advanced for the second consecutive session on Tuesday following Prime Minister Sanae Takaichi's solid victory in Sunday's general election. 

The Nikkei 225 Stock Average soared 2.4%, the broader Topix Index increased 1.8%, and the yen strengthened to 155.45 against the U.S. dollar. 

Prime Minister Sanae Takaichi is expected to push for higher government spending, lower income tax, and suspension of the 8% sales tax on food for two years. 

However, investors are worried that the government's focus on expanding fiscal spending could spike inflation and drive the yen lower. 

For now, investors appear to give Takaichi's administration the benefit of the doubt after she said expanded stimulus measures are not likely to strain Japan's public finances. 

In overnight trading, benchmark indexes in New York advanced for the second consecutive session on Monday as investors searched for bargains in recently beaten-down stocks. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average increased 2.4% to 57,683.64, and the broader Topix Index added 1.8% to 3,851.34. 

Fujikura Ltd. jumped 4.5% to ¥22,945.0, Kioxia Holdings Corp. advanced 2.4% to ¥18,780.0, and SoftBank Group increased 11% to ¥4,717.0.

Sumitomo Mitsui Financial Group increased 2.9% to ¥6,157.0, Mitsubishi UFJ Financial Group advanced 2.7% to ¥3,039.0, and Mizuho Financial Group 3.9% to ¥7,850.0.

Improving Sentiment Lifted Tech Stocks in China and Hong Kong Trading

Bargain hunters returned in search of beaten-down tech stocks in Tuesday's trading amid improving market sentiment. 

The Hang Seng Index increased 0.4%, and the CSI 300 Index edged higher 0.01% following a 2-day rebound in tech stocks in New York. 

Technology, the Internet, and artificial intelligence-driven stocks rebounded as investors held out for higher earnings. 

The S&P 500 index and the Nasdaq Composite extended 2-day gains to over 2.5% amid receding fears of business model disruption for software services providers.  

Last week, software service providers dropped as much as 10% amid fears that the recent advances in artificial intelligence could slow down future revenue growth. 

Benchmark indexes in Japan jumped 2.5% and extended a 2-day gain over 6% after the ruling LDP party increased its seat count in the lower house of the parliament in a historic win. 

China Indexes and Stocks 

The Hang Seng Index gained 0.4% to 27,170.44, and the CSI 300 Index edged up 0.01% to 4,719.81.  

Alibaba Group gained 1.6% to HK $160.0, JD.com Inc. added 2.2% to HK $110.40, Tencent Holdings decreased 1.1% to HK $553.0, and Meituan declined 3.2% to HK $88.15. 

Axera Semiconductor traded at HK $28.48 after the artificial intelligence chip maker priced its offering at HK $28.20 per share. 

The system-on-chip designer raised HK $2.96 billion in gross proceeds through the sale of 104.9 million shares. 

Axera's stock struggled to advance despite the company's public offering being oversubscribed by more than 74 times during the book-building process. 

On Monday, Montage Technology soared 65% after the designer of high-speed interconnects for data centers listed its stock on the exchanges in Hong Kong and Shanghai and raised HK$7 billion.  

China UESDAY

Persistent Volatile Backdrop In Tech Stocks Likely to Dominate U.S. Sentiment This Week

U.S. stocks faced headwinds in early trading on Monday as investors awaited the release of another batch of earnings and key economic data this week.

The S&P 500 Index decreased 0.2%, and the tech-heavy Nasdaq Composite declined 0.5% following volatile trading in the previous week. 

Sharp swings in technology and software service providers last week weakened market sentiment as investors worried about the sustainability of elevated spending for artificial intelligence. 

Benchmark indexes rebounded 2% on Friday following significant losses earlier in the week as investors searched for bargains after an eight-day decline in tech stocks.   

Moreover, last week saw wild swings in gold and silver prices due to the elevated geopolitical tensions, renewed fears of trade frictions, and persistent worries about the U.S. federal government debt.

The Bureau of Labor Statistics is scheduled to release the delayed January's nonfarm payrolls report on Wednesday, and the critically watched labor market report was initially scheduled to release last Friday.  

This week investors are looking forward to the release of quarterly results from Applied Materials, Cisco, Coca-Cola Company, DoorDash Inc., Ford Motor Company, McDonald's, Medtronic, Moody's Corp., and S&P Global. 

Persistent Volatile Backdrop In Tech Stocks Likely to Dominate U.S. Sentiment This Week

U.S. stocks faced headwinds in early trading on Monday as investors awaited the release of another batch of earnings and key economic data this week.

The S&P 500 Index decreased 0.2%, and the tech-heavy Nasdaq Composite declined 0.5% following volatile trading in the previous week. 

Sharp swings in technology and software service providers last week weakened market sentiment as investors worried about the sustainability of elevated spending for artificial intelligence. 

Benchmark indexes rebounded 2% on Friday following significant losses earlier in the week as investors searched for bargains after an eight-day decline in tech stocks.   

Moreover, last week saw wild swings in gold and silver prices due to the elevated geopolitical tensions, renewed fears of trade frictions, and persistent worries about the U.S. federal government debt.

The Bureau of Labor Statistics is scheduled to release the delayed January's nonfarm payrolls report on Wednesday, and the critically watched labor market report was initially scheduled to release last Friday.  

This week investors are looking forward to the release of quarterly results from Applied Materials, Cisco, Coca-Cola Company, DoorDash Inc., Ford Motor Company, McDonald's, Medtronic, Moody's Corp., and S&P Global. 

AI Land Grab Competition Worries Overshadow Earnings Results On Wall Street

Market sentiment remained fragile on Wall Street amid growing worries about elevated AI data center spending. 

The S&P 500 index and the tech-heavy Nasdaq Composite struggled to stay above the flatline, following a rough session on Thursday. 

Investors shifted their focus to elevated artificial intelligence infrastructure and lagging returns as leading tech companies announced multi-billion-dollar spending in 2026. 

Amazon.com plunged as much as 9% after the e-commerce platform operator estimated $200 billion in capital spending in 2026, higher than the $185 billion estimate announced by Google parent Alphabet. 

Amazon, Alphabet, Meta, and Microsoft are looking to spend as much as $650 billion in AI-related capital spending, sharply higher than $410 billion in 2025 and $245 billion in 2024. 

For the week so far, the S&P 500 index is down 2%, and the tech-focused Nasdaq Composite dropped 4% amid high anxieties about the future revenue growth outlook for software services providers and uncertain returns from elevated AI infrastructure investing.  

U.S. Movers 

Amazon.com dropped 9% to $202.87 after the e-commerce company reported weaker-than-expected earnings in the fourth quarter.

The global e-commerce company estimated $200 billion in capital expenditures for 2026. 

Ralph Lauren declined 4.5% to $338.66 after the apparel designer reported better-than-expected fiscal third-quarter results, as investors focused on depressed margins because of higher U.S. tariffs. 

Revenue increased 12% to $2.41 billion from $2.14 billion, net income rose to $361.6 million from $297.4 million, and diluted earnings per share advanced to $5.88 from $4.66 a year ago. 

Sales were driven by gains across all geographies and gains in direct sales to consumers, driven by a 22% increase in Asia, slower growth of 12% in Europe, and high single-digit increases in North America.

The company revised higher its full-year fiscal 2026 revenue growth estimate in constant currency in the high-single- to low-double-digit range and operating margin widening of roughly 100 to 140 basis points. 

AI Land Grab Competition Worries Overshadow Earnings Results On Wall Street

Market sentiment remained fragile on Wall Street amid growing worries about elevated AI data center spending. 

The S&P 500 index and the tech-heavy Nasdaq Composite struggled to stay above the flatline, following a rough session on Thursday. 

Investors shifted their focus to elevated artificial intelligence infrastructure and lagging returns as leading tech companies announced multi-billion-dollar spending in 2026. 

Amazon.com plunged as much as 9% after the e-commerce platform operator estimated $200 billion in capital spending in 2026, higher than the $185 billion estimate announced by Google parent Alphabet. 

Amazon, Alphabet, Meta, and Microsoft are looking to spend as much as $650 billion in AI-related capital spending, sharply higher than $410 billion in 2025 and $245 billion in 2024. 

For the week so far, the S&P 500 index is down 2%, and the tech-focused Nasdaq Composite dropped 4% amid high anxieties about the future revenue growth outlook for software services providers and uncertain returns from elevated AI infrastructure investing.  

U.S. Movers 

Amazon.com dropped 9% to $202.87 after the e-commerce company reported weaker-than-expected earnings in the fourth quarter.

The global e-commerce company estimated $200 billion in capital expenditures for 2026. 

Ralph Lauren declined 4.5% to $338.66 after the apparel designer reported better-than-expected fiscal third-quarter results, as investors focused on depressed margins because of higher U.S. tariffs. 

Revenue increased 12% to $2.41 billion from $2.14 billion, net income rose to $361.6 million from $297.4 million, and diluted earnings per share advanced to $5.88 from $4.66 a year ago. 

Sales were driven by gains across all geographies and gains in direct sales to consumers, driven by a 22% increase in Asia, slower growth of 12% in Europe, and high single-digit increases in North America.

The company revised higher its full-year fiscal 2026 revenue growth estimate in constant currency in the high-single- to low-double-digit range and operating margin widening of roughly 100 to 140 basis points. 

Three-Day Sell-Off In Technology Stocks Extended Losses in Hong Kong

Stocks in mainland China and Hong Kong extended weekly losses, led by a pronounced sell-off in technology stocks.

The Hang Seng Index declined 1.1%, and the mainland-focused CSI 300 Index fell 0.1% as investors continued to lighten holdings of high-flying stocks.

The sharp declines in AI-related stocks in overnight trading in New York for the third session in a row rattled market sentiment in China and Asia as investors shifted their focus to a profit outlook over revenue growth. 

The sudden shift in investor narrative was sparked by growing concerns that returns from investment in AI data centers are more likely to lag market expectations.  

China Indexes and Stocks 

The Hang Seng Index decreased 1.1% to 26,580.29, and the mainland-focused CSI 300 Index declined 0.1% to 4,668.01. 

Technology leaders dominated losers in Friday's trading. 

NetEase decreased 2.2% to HK $188.30, Tencent Holdings dropped 1.1% to HK $552.0, Alibaba Group declined 2.5% to HK $155.60, and JD.com fell 2.1% to HK $106.50. 

Three companies priced their initial public offerings and listed their stocks on the Hong Kong Stock Exchange. 

Muyuan Foods gained 2% to HK $40.92, and the company priced its initial public offering at HK $39 per share.

The company raised HK $10.7 billion in gross proceeds through the sale of 273.9 million shares.  

Distinct Healthcare Holdings soared 35% to HK $79.05, and the company priced its initial public offering at HK $59.90. 

The company raised HK $284.5 million in gross proceeds through the sale of 4.75 million shares.

Shenzhen Han's CNC Technology advanced 18% to HK$111.0, and the company priced its offering at HK$95.80 per share.

The company raised HK $4.8 billion in gross proceeds through the sale of 50.45 million shares.  

Three-Day Sell-Off In Technology Stocks Extended Losses in Hong Kong

Stocks in mainland China and Hong Kong extended weekly losses, led by a pronounced sell-off in technology stocks.

The Hang Seng Index declined 1.1%, and the mainland-focused CSI 300 Index fell 0.1% as investors continued to lighten holdings of high-flying stocks.

The sharp declines in AI-related stocks in overnight trading in New York for the third session in a row rattled market sentiment in China and Asia as investors shifted their focus to a profit outlook over revenue growth. 

The sudden shift in investor narrative was sparked by growing concerns that returns from investment in AI data centers are more likely to lag market expectations.  

China Indexes and Stocks 

The Hang Seng Index decreased 1.1% to 26,580.29, and the mainland-focused CSI 300 Index declined 0.1% to 4,668.01. 

Technology leaders dominated losers in Friday's trading. 

NetEase decreased 2.2% to HK $188.30, Tencent Holdings dropped 1.1% to HK $552.0, Alibaba Group declined 2.5% to HK $155.60, and JD.com fell 2.1% to HK $106.50. 

Three companies priced their initial public offerings and listed their stocks on the Hong Kong Stock Exchange. 

Muyuan Foods gained 2% to HK $40.92, and the company priced its initial public offering at HK $39 per share.

The company raised HK $10.7 billion in gross proceeds through the sale of 273.9 million shares.  

Distinct Healthcare Holdings soared 35% to HK $79.05, and the company priced its initial public offering at HK $59.90. 

The company raised HK $284.5 million in gross proceeds through the sale of 4.75 million shares.

Shenzhen Han's CNC Technology advanced 18% to HK$111.0, and the company priced its offering at HK$95.80 per share.

The company raised HK $4.8 billion in gross proceeds through the sale of 50.45 million shares.  

Volatile Tech Stocks Drive Broader U.S. Averages Sideways

U.S. stocks steadied on Thursday, and investors reacted to mixed corporate results from leading tech companies. 

The S&P 500 Index increased 0.3%, and the tech-focused Nasdaq Composite jumped 0.5% as investors surmised the previous session's sell-off was overdone.  

In Thursday's trading, the S&P 500 index decreased 0.5%, and the Nasdaq Composite dropped 1.5% as the tech-led rout intensified. Moreover, investors rotated out of software stocks on the fears that the latest advances in artificial intelligence could disrupt business models amid worries of stretched valuations. 

In precious metals trading, gold decreased 2%, and silver plunged 11% following a rebound in the previous session. 

Silver continued to seek lower levels amid renewed selling pressure and heightened volatility, driven in part by a rebound in the U.S. dollar.  

Silver dropped to $78.04 an ounce, and gold eased 2% to $4,867.05 an ounce. 

U.S. Movers 

Alphabet Inc. decreased 2.5% to $324.83 after the parent company of the Google search engine estimated sharply higher capital expenditure for AI infrastructure.

Nvidia Corp. jumped 1.8% to $177.51, and Broadcom jumped 5.3% to $325.35 after Alphabet estimated a 2026 capital expenditure of $185 billion, driven by a sharp increase in artificial intelligence spending.  

Qualcomm Inc. plunged 12.1% to $130.85 after the advanced chipmaker's outlook disappointed some investors. 

Volatile Tech Stocks Drive Broader U.S. Averages Sideways

U.S. stocks steadied on Thursday, and investors reacted to mixed corporate results from leading tech companies. 

The S&P 500 Index increased 0.3%, and the tech-focused Nasdaq Composite jumped 0.5% as investors surmised the previous session's sell-off was overdone.  

In Thursday's trading, the S&P 500 index decreased 0.5%, and the Nasdaq Composite dropped 1.5% as the tech-led rout intensified. Moreover, investors rotated out of software stocks on the fears that the latest advances in artificial intelligence could disrupt business models amid worries of stretched valuations. 

In precious metals trading, gold decreased 2%, and silver plunged 11% following a rebound in the previous session. 

Silver continued to seek lower levels amid renewed selling pressure and heightened volatility, driven in part by a rebound in the U.S. dollar.  

Silver dropped to $78.04 an ounce, and gold eased 2% to $4,867.05 an ounce. 

U.S. Movers 

Alphabet Inc. decreased 2.5% to $324.83 after the parent company of the Google search engine estimated sharply higher capital expenditure for AI infrastructure.

Nvidia Corp. jumped 1.8% to $177.51, and Broadcom jumped 5.3% to $325.35 after Alphabet estimated a 2026 capital expenditure of $185 billion, driven by a sharp increase in artificial intelligence spending.  

Qualcomm Inc. plunged 12.1% to $130.85 after the advanced chipmaker's outlook disappointed some investors.