MEI News & Events

The tech sector remained under pressure on Wednesday as investors continued to flock to the safety of counter-cyclical areas of the market such as Utilities and Health Care.  Energy lagged as continued signs of a Middle East de-escalation and progress in Strait of Hormuz reopening has pulled the price of WTI Crude Oil futures below $70 per barrel.The evening session and a blowout earnings report from Micronhas manifested a sea change in sentiment and the likelihood of a snap-back rally in the AI trade on Thursday.  Shares of the memory maker were up over 14%, nearly erasing all of yesterday's broadbased losses.  The strong results from Micron also put a bid under the other semiconductor and memory names.  Elsewhere, a robust medium-term outlook from Qualcommwith a higher non-handset revenue target of $40B further relieved the tensions regarding valuations in Semis.  Late in afterhours, S&P e-minis are up 10.6% and Nasdaq 100 contract is up 2.0%.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Micronup 14.4%; Other semis and memory names broadly up in sympathy: Lam Researchup 6.5%, Rambusup 6.8%, Arm Holdingsup 6.7%, Sandiskup 11.1%, Western Digitalup 10.9%.Methode Electronics, Inc.up 14.4%ALSO HIGHER -Qualcommup 12.9% after disclosing medium-term targetsNETSTREITup 5.8% after entering S&P SmallCap 600 indexFormFactor, Inc.up 5.2% after being added to Russell 1000 indexDOWN AFTER EARNINGS -MillerKnolldown 4.9%Trip.com Group Limiteddown 4.3%H.B. Fullerdown 1.9%Jefferiesdown 1.6%ALSO LOWER -ARS Pharmaceuticalsdown 23.8% after commercial update on neffyTaysha Gene Therapiesdown 7.8% after equity offeringCG Oncology, Inc.down 5.4% after block trade

Reports Q4 revenue $298.1M, consensus $238.46M. "Fiscal 2026 marked a year of meaningful progress in Methode's transformation as we continued to execute on the commitments we made to our employees, customers, and shareholders," said Jon DeGaynor, president and CEO. "Despite a challenging operating environment, we improved profitability, generated positive free cash flow, strengthened our balance sheet, simplified our portfolio, and continued investing in our people and capabilities. The actions we have taken over the last two years to strengthen operational discipline, upgrade talent, and optimize our portfolio are delivering results and enhancing the company's long-term earnings power. We are also increasing our exposure to attractive growth opportunities in data centers, vehicle electrification, and other power solutions markets where our engineering expertise provides a meaningful competitive advantage."