Key Highlights
- Semiconductor stocks retreated Friday as market participants locked in profits following Thursday’s strong performance
- Intel declined 3.5% while Micron slipped 2.7% during premarket hours
- WD-40 skyrocketed 15% following better-than-expected fiscal Q3 results that topped analyst projections
- Vodafone shares climbed 10% on news of a $5.95 billion stake transaction with a French telecom entity
- Fermi plummeted 22% following the announcement of a $375 million convertible debt offering
Friday’s trading session saw WD-40 emerge as the clear champion, even as technology stocks experienced a pullback with investors securing gains from Thursday’s advance.
Nasdaq 100 futures declined 0.3%, dragging down multiple technology names during pre-market activity.
Semiconductor Sector Takes a Breather
Intel tumbled 3.5% while Micron shed 2.7% ahead of the opening bell. These chip manufacturers had delivered strong year-to-date performance in 2026 prior to Friday’s decline.
Corning eased 0.7%, Marvell Technology retreated 1.6%, and Sandisk lost 3.8%. Each of these companies had benefited from the artificial intelligence momentum in recent trading days.
The pullback followed Thursday’s robust market performance. Market participants seemed to utilize Friday’s session as an opportunity to realize profits instead of extending gains.
WD-40 Dominates Friday’s Trading
WD-40 emerged as the session’s top performer, climbing approximately 15% after delivering impressive third-quarter fiscal results.
The manufacturer announced adjusted earnings of $2.33 per share alongside revenue totaling $195.1 million. The top line represented a 24% year-over-year increase, surpassing analyst expectations on both metrics.
WD-40 additionally provided fiscal 2026 full-year projections, anticipating revenue between $675 million and $690 million. The company forecasted non-GAAP earnings per share ranging from $6.05 to $6.35, exceeding the Street’s consensus estimate of $5.99.
Executives reduced their gross margin forecast, attributing the adjustment to elevated expenses and product category reassignments. Nevertheless, the company indicated that pricing strategies and efficiency measures should yield their primary impact throughout 2027.
Vodafone shares advanced approximately 10% following an announcement that UAE telecommunications operator e& reached an agreement to divest its 16.21% ownership position to an entity associated with French entrepreneur Xavier Niel’s family investment group for $5.95 billion.
The transaction valued shares at 112.5 pence each and is projected to produce roughly $1.3 billion in net proceeds for e&. Post-transaction, e& confirmed it would relinquish its board seat at Vodafone.
Netflix ticked up 0.5% following a Wall Street Journal report indicating company leadership had explored incorporating live television channels and streaming package options into its service offering.
Solaris Energy Infrastructure advanced approximately 3% after S&P Dow Jones Indices announced the company’s inclusion in the S&P SmallCap 600 index, taking effect July 15.
Fermi ranked among Friday’s poorest performers, plunging 22% after announcing an expanded $375 million convertible debt offering priced at a 30% premium relative to its July 9 closing share price.
The convertible instruments carry a 5% annual coupon and reach maturity in July 2031. The transaction is scheduled to finalize on July 14, 2026.
Market psychology on Friday also faced pressure from reports detailing escalating military confrontations between the United States and Iran, which interrupted critical international trade routes and sparked renewed worries about inflationary pressures.
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