A leading chipmaker is climbing after a bullish Q3 forecast, a cloud data firm is surging 11% after raising its full-year product revenue outlook, and a neuro biotech company is soaring 250% after news of an $600M buyout. Here’s what’s moving the markets today

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What to Watch

Earnings:

  • Intuit Inc. [INTU]: Aftermarket

  • Workday Inc. [WDAY]: Aftermarket

  • Autodesk Inc. [ADSK]: Aftermarket

  • Copart Inc. [CPRT]: Aftermarket

  • Ross Stores Inc. [ROST]: Aftermarket

  • Deckers Outdoor Corporation [DECK]: Aftermarket

Economic Reports:

  • Initial Jobless Claims [May 17]: 8:30 am

  • S&P Flash U.S. Services PMI [May]: 9:45 am

  • S&P Flash U.S. Manufacturing PMI [May]: 9:45 am

  • Existing Home Sales [April]: 10:00 am

  • New York Fed President John Williams speech: 2:00 pm

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Semiconductors

Analog Devices Beats Q2 Forecasts, Signals Brighter Q3 Ahead

Analog Devices Inc. (NASDAQ: ADI) shares are climbing in early trading today after the chipmaker issued a stronger-than-expected forecast for its third quarter, buoyed by steady demand in the automotive and industrial markets.

The company expects revenue for the upcoming quarter to reach approximately $2.75 billion, give or take $100 million—outpacing analysts’ expectations of $2.62 billion.

Adjusted earnings per share are projected at $1.92, plus or minus 10 cents, ahead of Wall Street’s forecast of $1.83. Shares are up 3% in premarket trading following the announcement.

Analog Devices, whose chips are widely used in cars, factory automation systems, aerospace, and consumer electronics, says that the rebound in industrial and automotive demand, along with growing interest in AI-powered devices, is what is helping drive new orders.

The chipmaker’s second-quarter revenue rose 22% year-over-year to $2.64 billion, beating the $2.51 billion consensus estimate. The company serves high-profile clients including Boeing (NYSE: BA) and Siemens (ETR: SIE).

Peers such as Texas Instruments (NASDAQ: TXN), Onsemi (NASDAQ: ON), and Microchip Technology (NASDAQ: MCHP) have also shown relative stability amid a recovering chip sector.

Technology

Snowflake Shares Pop 11% on Bullish Revenue Outlook

Snowflake (NYSE: SNOW) shares are surging in premarket trade this morning after the cloud data platform raised its full-year product revenue outlook and topped Wall Street expectations for its fiscal first quarter.

The company now anticipates product revenue of $4.33 billion for fiscal 2026, up from its previous estimate of $4.28 billion. The new forecast represents 25% annual growth and comes in above analysts' average projection of $4.31 billion, according to FactSet.

In the three months that ended April, Snowflake posted adjusted earnings of $0.24 per share, exceeding the $0.21 estimate. Total revenue grew 25% year-over-year to $1.04 billion, with product revenue—its core business—rising 26% to $996.8 million.

CEO Sridhar Ramaswamy emphasized how the company’s momentum has not been hindered by tariffs or broader macroeconomic pressures.

For the current quarter, Snowflake expects product revenue to reach up to $1.04 billion, matching a 25% growth pace. Its stock is up 9.8% in premarket trading.

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Wholesale Retailer

BJ’s Wholesale Posts Solid Q1 Growth, Sticks to Annual Forecast

BJ’s Wholesale Club (NYSE: BJ) kicked off 2025 with strong first-quarter results, fueled by rising membership income and digital sales growth.

For the quarter ending May 3, the retailer reported a 4.7% increase in net revenue, reaching $5.03 billion, compared to $4.81 billion a year earlier. Adjusted earnings per share rose 34.1% year-over-year to $1.14, exceeding market expectations.

Membership fee income grew 8.1% to $120.4 million, highlighting BJ’s focus on attracting and retaining higher-tier members. Comparable club sales excluding fuel climbed 3.9%, while digital sales surged 35%.

The company opened five new warehouse clubs and four gas stations during the period as part of its expansion strategy.

The company also reaffirmed its full-year guidance, continuing to expect adjusted EPS in the range of $4.10 to $4.30 and same-store sales growth (excluding fuel) between 2% and 3.5%. Capital expenditures are projected at $800 million.

Shares of BJ’s are up 0.4% in premarket trading.

Movers and Shakers

Vigil Neuroscience, Inc. [VIGL] - Last Close: $2.31

Vigil Neuroscience is a clinical-stage biotech firm developing therapies for neurodegenerative diseases, notably Alzheimer's.

The stock is surging nearly 250% in premarket trading following its acquisition by Sanofi at $8 per share, with a potential $2 per share contingent on Alzheimer's therapy VG-3927's commercial success. The deal's total equity value (including the additional $2/share) could reach about $600 million.

My Take: Its a big win for investors in VIGL. Keep a close watch on the deal as it progresses.

Navitas Semiconductor Corporation [NVTS] - Last Close: $1.91

Navitas Semiconductor specializes in next-generation power semiconductors. While the firm’s revenue has grown in the last couple of years, it’s net margins have been negative.

NVTS shares are surging 180% in premarket trading following news of a collaboration with Nvidia on its 800V HVDC architecture for next-generation AI workloads.

My Take: The partnership is a major boost for Navitas, positioning it as a key player in the AI and data center sectors. However, given its profitability concerns, it might be best to put this one on your wait and watch list for now.

Advance Auto Parts Inc. [AAP] - Last Close: $31.31

Advance Auto Parts is a leading U.S. retailer of automotive aftermarket parts. The firm has solid revenues but its net margins took a nose dive in Q4’24, and its stock is currently trending -34% YTD.

AAP is up nearly 30% in premarket today after posting better than expected Q1’25 results and reaffirming its 2025 outlook, which includes expected sales between $8.4 billion and $8.6 billion and adjusted earnings per share ranging from $1.50 to $2.50.

My Take: AAP is navigating a challenging retail environment. While the company faces headwinds, its quarterly results and outlook for the year suggest there might be a turnaround. Keep this stock on your radar.

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Everything Else

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

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