Shares of semiconductor equipment makers are moving higher Friday, following a Bloomberg report that the Biden Administration is considering more measures to restrict the sale of semiconductor equipment and artificial intelligence (AI) memory chips to China. However, the new rules seemingly fall short of the stricter proposals previously given.

In response, U.S.-based Applied Materials, Inc. (NASDAQ:AMAT) and Lam Research Corporation (NASDAQ:LRCX) are both moving higher ahead of the bell. Netherlands-based ASML Holding NV (ASML) is also cheering the news.

At last glance, AMAT is 2.2% higher before the open, looking to start the session just above $175. The equity's most recent rally lost steam at its 80-day moving average, and its now sitting at levels not seen since February. Despite slipping 15.2% so far this quarter, Applied Material stock is 5.7% higher year to date.

LRCX is looking to open 2.7% higher near $73.50 and could use a win; the security has finished lower in five of the last seven sessions. Should pre-market action hold, it could boost the shares into positive territory for the week, but a fifth-straight monthly loss still looms. The equity is marginally above its year-over-year breakeven level and sports an 8.6% year-to-date deficit.

Peabody Energy Corp (NYSE:BTU) stock has been chopping lower since its Nov. 6 52-week high of $29.94, down 10% in just the last week. The shares could be headed for a short-term bounce, however, as the pullback has them running into a short-term "buy" signal. 

BTU just moved below the bottom band of its 20-day Bollinger Bands. Per Schaeffer's Senior Quantitative Analyst Rocky White, the shares moved higher after the past nine tests of this trendline, averaging a one-month gain of 6.4%. From its current perch at $24.58, a move of similar magnitude would put the stock back above $26. 

Adding another layer to its "oversold" status, BTU's 14-day relative strength index sits at a low 19.8. An unwinding of short interest could further momentum in the case of a rebound, too, as it represents 13% of the stock's available float. 

Ulta Beauty Inc (NASDAQ:ULTA) stock is leading the S&P 500 Index (SPX) today ahead of the cosmetics retailer's third-quarter results, which are due out after the market closes on Thursday, Dec. 5. e,l.f Beauty Inc's (NYSE:ELF) fiscal second-quarter report is not far behind, scheduled for release after the market closes on Friday, Dec. 6. Both events could have implications for sector peer Estee Lauder Companies Inc (NYSE:EL), making this an excellent time to check in with these three beauty industry giants.

ULTA is up 4.2% at $375.70, looking to close back above its 100-day moving average as it extends a bounce off its lowest level since August. Shares haven't fared well after earnings over the last two years, though, finishing lower in five of the last eight next-day sessions to average a move of 5%, regardless of direction. This time, the options pits are pricing in a larger swing of 7.9%.

ELF was last seen up 3.5% to trade at $128.69, on track for its fourth gain in the last five sessions, but still carries a 10.9% year-to-date deficit. The security has a much better post-earnings track record, settling higher after six of its last eight reports. The shares averaged  a swing of 12.9% in the last two years, regardless of direction.

EL seems to be getting a halo lift from its peers' pre-earnings rallies, up 4% at $76.06 at last glance. The shares are bouncing off a Nov. 12, 12-year low of $62.29 and on track an eight-straight daily gain, but still carry a 48% deficit for 2024.

Zscaler Inc (NASDAQ:ZS) is scheduled to report fiscal first-quarter results after the close on Monday, Dec. 2. According to Zacks, the consensus estimate for the cloud security company's earnings and revenue are 63 cents per share and $605.7 million, respectively. The former represents a 6% year-over-year decrease, and the latter a 21.9% year-over-year increase.

At last glance, ZS was 3.2% lower at $203.55. In October, the equity experienced two significant pullbacks, both of which were saved by the 70-day moving average near the $180 level. Shares have recovered handily since then, and now boast support at $200, though they sport an 8.5% year-to-date deficit. 

Looking over the last two years, Zscaler stock tends to fall after reporting. The stock finished five of the past eight next-day sessions lower -- including an 18.6% dip in September. The shares averaged a move of 8.4% over the last eight quarters, regardless of direction, but the options pits are pricing in a larger-than-usual swing of 10.9% this time. 

Ahead of the event, BTIG raised its target price from $205 to $238 -- a nearly 17% premium to the stock's current perch. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) currently shows the stock with a 50-day call/put volume ratio of 2.48, which sits in the 92nd percentile of annual readings.

Workday Inc (NASDAQ:WDAY) and Autodesk Inc (NASDAQ:ADSK) are fresh out of the earnings confessional. Both software companies beat third-quarter earnings and revenue expectations, but their fiscal fourth-quarter guidance came in below estimates. The latter also revealed Janesh Moorjani will take over as its chief financial officer, effective Dec. 16.

WDAY was last seen 9.1% lower to trade at $245.51, on track for its worst single-day percentage loss since May, as well as its third loss in the last four sessions. The shares also carry an 11.9% year-to-date deficit, and are gapping back below the 40-day moving average.

ADSK is down 6.3% to trade at $298.10 at last glance, pacing for a third-straight daily loss as it retreats from its Nov. 25, three-year high of $320.99. The stock's own 40-day trendline looks ready to contain today's gap lower, which could be the steepest since April. For 2024, shares still sport a 23% lead.

WDAY has seen 13,000 calls and 16,000 puts exchanged so far today, which is 14 times the volume typically seen at this point. The December 220 put is the most popular contract, where new positions are being opened. ADSK has seen  3,868 calls and 3,437 puts exchanged so far -- six times the intraday average volume -- with the most activity at the weekly 11/29 300-strike put. 

Ambarella Inc (NASDAQ:AMBA) stock is gapping to 52-week highs, up 15.4% at $78.96 at last glance, after the semiconductor name's better-than-expected third-quarter results and current-quarter revenue forecast. CEO Fermi Wang attributed the success to strong sales from its Edge AI product, which he said represents roughly 70% of the company's total top line. Plus, a flood of analysts lifted their price targets on AMBA after the event. 

Should this positive price action hold, Ambarella stock will notch its best day since its May 31 earnings surge of 20.6%. The equity is also eyeing its eighth-straight daily gain, and fourth consecutive post-earnings pop. Year to date, AMBA is up 26.6%. 

Over in the options pits, the chip stock has seen 5,846 calls and 3,785 puts exchanged so far, which is six times the average daily options volume already. The weekly 11/29 80-strike call is the most popular, with new positions being sold to open there. 

Options traders were much more bullish than usual leading up to today's event. AMBA's 50-day call/put volume ratio of 5.02 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 95% of readings from the past year. 

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) are 13.2% higher at $45.85, after the retailer posted better-than-expected results for the third quarter. While its namesake brand struggled, its Anthropologie and Free People brands were the main catalysts for a robust 6.3% increase in net sales, as well as earnings of $1.10 per share on income of $102.91 billion.

As a result, Urban Outfitters stock is on track for its best single-day percentage gain since May 2023. The $46 level is keeping a lid on today's gains, but the security is still trading at its highest mark since July. Year over year, URBN is now up 30.5%.

The upbeat results boosted analyst sentiment, with no less than seven covering brokerages adjusting their target prices higher. Citigroup appears to be the most optimistic, moving up to $59 from $42. There's room for more price-target hikes too, as the average 12-month target price of $43.33 is a 3.8% discount to the equity's current perch.

There's room for upgrades too, considering nine of 11 analysts in coverage rate URBN a "hold" or worse, and a shift could provide further tailwinds. What's more, the 5.24 million shares sold short account for 8.5% of the equity's total available float.

Options traders are flooding Urban Outfitters stock's normally quiet options pits. So far, 2,986 puts and 2,828 calls have crossed the tape, which is 11 times the average intraday volume. New positions are opening at the most active, weekly 11/29 40-strike put.