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Skyworks shares are rising but look overbought and near $84.40 resistance, raising risks of a bearish reversal as sellers may drive prices lower.
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Several stocks showed significant movement following corporate announcements. Forgent Power Solutions jumped 9.5% after beating earnings estimates, while Skyworks Solutions surged 13.6% on optimism about a Qorvo merger closing by late September or October. Qorvo also gained 9.3%. However, Axon Enterprise slipped 9.8% following plans for a $1 billion debt issuance. Valero Energy rose 3.7% as crude oil prices climbed amid Middle East supply concerns.
The 10-year Treasury yield broke 5% for the first time since 2007 as WTI surged past $105 on Saudi pipeline outages, pressuring stocks ahead of the Fed.
U.S. stocks fell, but Radiant Logistics surged 17.8% after beating Q4 estimates. Waystar, Telix and Forgent also posted strong gains.
These 10 heavily shorted stocks face potential reversals, led by Venture Global, followed by CleanSpark and Dutch Bros.