In the initial 90 minutes of the evening session, U.S. equity futures remained largely steady. The S&P 500 index maintained a position under 5,200, while the Dow Industrials hovered slightly above 38,300. Meanwhile, the Nasdaq 100 showed a slight dip of 0.1% but stayed above 17,900.
Commodities demonstrated mixed movements, with West Texas Intermediate (WTI) crude oil bouncing off recent lows to settle below $63 per barrel. Gold, on the other hand, continued its impressive upward trajectory, setting new record highs surpassing $3,450 per ounce over the past two weeks.
Monday's market activity was predominantly negative, shaped by ongoing uncertainties related to the tariff standoff and increased scrutiny on Federal Reserve Chairman Powell. This environment has influenced investors to adopt a risk-averse approach. Among sectors, Consumer Discretionary and Technology were particularly under pressure within the S&P 500, with limited positive performances even in traditionally defensive sectors.
Investors also reduced holdings in traditional safe-haven assets, as evidenced by the rising yield on the 10-year Treasury note, now marking a second consecutive increase to reach 4.40%. Concurrently, the U.S. Dollar Index dropped to its lowest level in three years.
Notable stock movements included Calix (CALX), which jumped 16.9% following its earnings report. Other significant gainers were Flexsteel Industries (FLXS), up 8.4%, and Cathay General Bancorp (CATY), which rose 1.4%. Atkore (ATKR, Financial) experienced a 5.1% increase after a Q2 pre-announcement.
Conversely, several companies faced declines post-earnings. AZZ Inc. (AZZ) saw a decrease of 7.6%, while Medpace (MEDP) fell by 6.9%. Hexcel Corporation (HXL) declined 4.5%, Zions Bancorp (ZION) dropped 3.8%, W. R. Berkley Corporation (WRB) went down 3.5%, and BOK Financial (BOKF) decreased by 2.3%.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Atkore Inc (ATKR, Financial) is $72.50 with a high estimate of $90.00 and a low estimate of $64.00. The average target implies an upside of 27.80% from the current price of $56.73. More detailed estimate data can be found on the Atkore Inc (ATKR) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Atkore Inc's (ATKR, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Atkore Inc (ATKR, Financial) in one year is $117.00, suggesting a upside of 106.24% from the current price of $56.73. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Atkore Inc (ATKR) Summary page.
