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Stocks To Watch: Skyworks, Mativ, Excelon, and More

On several occasions, shares of Skyworks (SWKS) tested the $90 support level. The stock finally broke out to close at $102.64, up by 6.67% yesterday. SWKS stock benefits from the rise of Apple (AAPL) shares.

Apple’s rise also lifted Qorvo (QRVO), Taiwan Semiconductor (TSM), and Micron (MU) stocks. Watch them continue their uptrend today.

Mativ (MATV) gained 6.51% on Wednesday. The firm is a global leader in specialty materials. Last month, it posted Q1 earnings of $0.02 after revenue fell by 26.3% Y/Y to $500.2 million.

After peaking at over $38 in recent weeks, Exelon (EXC) is on a downtrend. A Maryland regulator rejected a revenue increase proposal from Exelon’s subsidiary, Potomac Electric Power. This would have increased the unit’s revenue by $213.6 million over approximately four years.

EXC stock is attractive after the dip. Shares pay a dividend that yields 4.09%.

In the biotechnology sector, DNA sequencing firm Illumina (ILMN) risks falling to $100. The S&P 500 will remove ILMN stock from the index. It will add CrowdStrike (CRWD), KKR, and GoDaddy (GDDY), effective June 24, 2024.

Energy stocks pulled back yesterday and may continue lower today. Valero Energy (VLO) lost 3.4% on Wednesday. Valero is among the 10 companies asking the Canada Energy Regulator to narrow the high vapor pressure limits at the Trans Mountain Pipeline expansion.