Wells Fargo Maintains Overweight on ATI, Lowers Price Target to $240

Shares of aerospace and defense companies are trading lower amid diplomatic uncertainty between the U.S. and Iran. Oil costs may also weigh on the industry.

ATI (ATI) Soars 4.4%: Is Further Upside Left in the Stock?

ATI (Allegheny Technologies) stock jumped 4.4% to $191.63 on strong volume, driven by optimism in its Aerospace & Defense business. The company expects quarterly earnings of $1.35 per share (+58.8% YoY) and revenues of $1.33 billion (+17.9% YoY), supported by next-generation jet engines and defense demand. However, earnings estimate revisions have been marginally lower over the past 30 days, which could limit further near-term gains.

Nasdaq 100 Rallies as Oil Slides, Yields Retreat: Stock Market Today

Wall Street snapped a two-day losing streak Thursday as oil retreated from its geopolitical spike and the 10-year Treasury yield slipped back below 5%. Chipmakers led the rebound, with Intel, AMD and Micron all posting outsized gains, while gold climbed 2.5% to $4,369 an ounce. The bounce came one day after the Federal Reserve delivered its first interest rate hike since 2023 and signaled at least one more this year.