Applied Materials has fallen more than 34% from its 52-week high, even as the company posted record Q3 revenue of $9.1 billion, up 25% year over year. Adjusted EPS rose 41% to $3.50, while adjusted gross margin increased to 50.4% and adjusted operating margin reached a record 34%. The pullback comes as AI infrastructure investment continues to support demand for semiconductor equipment. After the sharp decline, the stock’s risk-reward profile appears more attractive.

Archer Aviation has partnered with AEG to develop a vertiport at L.A. Live in downtown Los Angeles as it works to build an urban air-taxi network ahead of the 2028 Olympic and Paralympic Games. The site is intended to help position the company for elevated transportation demand during the Games. The planned development is part of Archer’s broader effort to put key infrastructure in place before the event.

New York and London cocoa futures closed lower on Monday as signs of improved supply weighed on prices. Nigeria’s July cocoa bean exports rose 18% y/y, Ivory Coast port arrivals in the current marketing year were up 20% y/y, and ICE cocoa inventories climbed to a two-year high, according to Bloomberg. Ghana’s Cocoa Board cut its 2026/27 production estimate by 13% to 650,000 MT, partly offsetting the broader supply gains.

December-delivery arabica coffee futures rose 5.89%, while September-delivery robusta futures gained 5.34%. Rainfall in Brazil’s key producing state of Minas Gerais has recently been just 11% of the historical average, raising drought concerns for supply. By mid-August, Brazil’s coffee harvest was 90% complete, behind 97% a year earlier and the five-year average of 94%. Arabica harvesting lagged further at 86%, compared with 95% last year.

Wedbush analysts said SK hynix has launched a $3 billion share repurchase program and plans to return more than 50% of free cash flow to shareholders, a move they expect could help narrow the stock’s valuation discount. The analysts also said the company could deliver an additional $130 billion in shareholder returns by 2027, supported by continued gains in memory-chip prices. SK hynix’s operating margin rose by 35 percentage points to 76%.

IBM has reached a new milestone in quantum computing and said it plans to invest more than $10 billion over the next five years to support R&D and expand its ecosystem. The company’s market value is about $2220 billion, and the stock closed at $235.68 on Aug. 21. Shares are down 21.43% year to date and about 30% below the 52-week high of $332.46 set in June, after rebounding 12.4% from the July 23 low of $199.19.

Cotton futures were up 20 to 33 points in Monday trading. For the week ending August 18, managed money added 5,798 contracts to its net long in cotton futures and options, bringing the position to 78,668 contracts. The Cotlook A Index fell 70 points on Friday to 98.20 cents, while ICE certified cotton stocks dropped 1,749 bales on August 21 to 68,894 bales. Crude oil was down $2.03 and the U.S. dollar index was up 0.176.

Cocoa futures in New York and London fell as signs of ample supply weighed on prices. Nigeria’s July cocoa bean exports rose 18% y/y to 16,052 MT, Bloomberg reported. Separate cumulative data showed Ivory Coast farmers shipped 2.11 MMT of cocoa to ports in the current marketing year, up 20% from the same period a year earlier. Ghana’s Cocoa Board estimated the 2026/27 crop at 650,000 MT, down 13% from 750,000 MT last year, while early assessments put the new-season Ivory Coast crop at an average of 1.8 MMT.

Brazil’s coffee harvest has continued to lag, with overall completion by mid-August running below both last year and the five-year average; arabica harvest progress is at 86%, well behind 95% a year earlier. Rainfall in Minas Gerais, the main producing state, has been just 11% of the historical average, adding to supply concerns. Arabica and robusta coffee futures have climbed sharply on the tighter supply backdrop.