Steel names are sprinting out of the gate after Donald Trump vowed late Friday to double Section 232 duties on foreign steel to 50 %, effective June 4.  The surprise hike instantly improves U.S. mills’ pricing power and set-off a reflex rally across the group.

• Tariff shock is the ignition: doubling the levy strips imported sheet of roughly $100/ton of price advantage, handing domestic producers a clear runway to raise offers.
• Share prices gap higher: Cleveland-Cliffs spikes 23 %, Nucor +10 %, Steel Dynamics +8 % as traders anticipate fatter margins and market-share gains once the new rate kicks in mid-week.
• Futures confirm the squeeze: Midwest hot-rolled-coil, already trending up this spring, surges from about $780 to $920 per ton in the first electronic prints after the headline.
• Momentum was building anyway: service-center inventories sit near four-year lows and mills have pushed through three $50/ton list hikes since March; the tariff simply accelerates a tightening tape.
• Macro & positioning tailwinds: Monday’s move forces short-covering in a sector that lagged the S&P by 15 pts YTD, while value-cyclical rotation funnels fresh capital into metal producers.
• Traders’ next checkpoints: June scrap-buy negotiations (later this week) will signal whether mills can lift coil while holding raw-material costs flat; watch for profit-taking 24-48 hours after Wednesday’s tariff start.

Taken together, the tariff news is the headline catalyst, but it lands on a market that was already tilting bullish on supply-demand tightening—amplifying both price and equity upside in today’s session.

Sanmina (SANM), the electronics manufacturing giant, ignited a firestorm on Wall Street today, with its stock price erupting over 15% after unleashing its December quarter results. The company obliterated analyst expectations by delivering not just robust profits, but a growth narrative that sent investors clamoring for more.

• Sanmina's profit after tax nearly doubled year-over-year, leaving even the most bullish estimates in the dust. This explosive performance was fueled by a potent cocktail of factors.
• Sanmina rode the wave of surging demand for electronics, as businesses and consumers alike continued to snap up laptops, smartphones, and other gadgets. This translated into a 20% jump in revenue, defying concerns about a potential tech slowdown.
• The company squeezed more juice out of every lemon, with its gross margin expanding by a percentage point. Sanmina's leaner operations and strategic sourcing initiatives paid off handsomely, boosting its bottom line.
• Investors cheered Sanmina's success in diversifying its client base beyond its traditional focus on smartphones. The expansion into medical devices and automotive electronics insulated the company from market fluctuations and fueled confidence in its future prospects.
• This potent combination of strong growth, margin expansion, and strategic foresight painted a picture of a company thriving in a turbulent environment. It's no surprise that investors flocked to Sanmina's stock, pushing it to new highs and sending a ripple of excitement through the tech sector.

However, a note of caution remains. Geopolitical tensions and potential supply chain disruptions could pose challenges in the coming months. Nonetheless, Sanmina's stellar Q4 performance and its clear focus on operational excellence have rekindled investor enthusiasm, making it a stock to watch in the tech arena.

PPG Industries (PPG), the paint and coatings giant, saw its stock tumble after releasing its Q4 earnings report today. Despite boasting record sales and strong cash flow, the results fell short of analyst expectations, leaving investors feeling glum.

What went wrong? ‍

• PPG's profit margins shrank compared to analysts' forecasts. While the company managed to raise prices throughout the year to offset rising costs, these increases weren't enough to fully protect its bottom line.
• Additionally, while sales reached historic highs, the growth rate compared to the previous year decelerated. This suggests that PPG might be struggling to maintain momentum in a softening economic environment.
• These shortcomings overshadow the positives. PPG's record sales demonstrate its resilience in a challenging market, and the company's strong cash flow suggests it has plenty of financial firepower to navigate potential headwinds.

However, investors are looking forward, and the muted outlook overshadows these strengths for now. The stock's drop reflects concern that PPG might face continued margin pressure and sluggish growth in the coming quarters.

PPG's situation highlights the broader economic uncertainty. If cost pressures persist and consumer spending wanes further, other companies in the industrial sector could face similar challenges in the months ahead. In the meantime, PPG needs to convince investors it can maintain its profitability and regain its growth trajectory. Whether the company can paint a brighter picture in the next quarter remains to be seen.