Tower’s $1.3 Billion Deal and Earnings Beats Drive Stock Rallies

Company news outweighed index moves as traders chased firms with new deals, higher guidance, upgrades.

Overview

U.S. stocks were mixed as the Nasdaq Composite added more than 100 points, while individual names jumped on earnings surprises, new contracts and analyst calls.
Tower Semiconductor beat first-quarter forecasts, guided second-quarter sales above estimates, and announced a $1.3 billion silicon photonics contract that uses light to move data on chips.
Nextpower topped fourth-quarter expectations, raised its fiscal 2027 sales outlook, and said it will buy Zigor Corporation’s power-conversion assets and U.S. unit Apex Power.
Vishay Intertechnology swung to a profit and projected stronger second-quarter sales, pushing the stock to its highest level since 2000.
VNET Group said PJ Millennium I and II agreed to buy up to 650,424,192 Class A shares at $1.4486 each, while other movers included Velo3D and Eos Energy after results and Sensata after a Truist upgrade.