These stocks were poised to make moves Friday:
(INTC) were jumping 5.8% after the chip maker reported a surprise second-quarter profit and issued a revenue forecast for the third quarter that was better than expectations. Chief Financial Officer David Zinsner told Barron’s that Intel will benefit from the rising interest in artificial intelligence applications, citing demand for its AI accelerator products and server processors. But the executive also said there may be some “wallet shift” to GPUs in the second half of the year in the data center segment.
(F) reported second-quarter earnings that beat Wall Street’s expectations and the auto maker raised its financial forecasts for the full year, saying it anticipates operating profit of between $11 billion and $12 billion, higher than a prior forecast of between $9 billion and $11 billion. But the stock fell 1.1% in premarket trading after
said it expects to reach a production rate of 600,000 electric vehicles in 2024. The company previously had said it would reach that rate by the end of 2023.
stock fell slightly in premarket trading.
Procter & Gamble
(PG) rose 1.6% after topping quarterly earnings and revenue expectations following further price hikes at the maker of Tide detergent and Crest toothpaste.
(RETA) surged 51% to $164.11 after
(BIIB) agreed to acquire the company for $7.3 billion in cash.
will pay $172.50 per
share. Biogen was down 1.1%.
(TMUS) reported second-quarter revenue of $19.2 billion, down 2.6% from a year earlier, and a little below Wall Street estimates of $19.3 billion. Profit of $1.86 a share beat forecasts of $1.69. The telecommunications giant said it had 760,000 postpaid phone net subscriber additions in the quarter, ahead of consensus forecasts of 728,000. The company said it was the best second-quarter increase in eight years. The stock was down 0.9% in premarket trading.
(ROKU), the streaming device maker, jumped 9.3% after reporting a narrower-than-expected loss and issuing better-than-expected third-quarter guidance.
(ENPH) fell 16% after second-quarter revenue missed expectations and the maker of solar energy equipment said it expects third-quarter revenue of between $550 million and $600 million, well below analysts’ estimates.
(FSLR) rose 11% after the solar-technology company reported second-quarter earnings that easily beat analysts’ expectations on net sales of $811 million, higher than forecasts of $711 million. The company also said it would invest up to $1.1 billion to build its fifth U.S. manufacturing facility.
(SNBR) slumped 24% after second-quarter sales dropped 16% to $459 million and missed consensus forecasts of $471 million. The bed and mattress maker said it expects earnings in 2023 in a range of $1.25 to $1.75 a share, which assumes sales will be down low to mid-single digits from a year earlier.
(JNPR) declined 6.7% after the networking-equipment provider said it expects third-quarter revenue of about $1.385 million, plus or minus $50 million, as it expects to see “continued weakness in bookings, particularly with our cloud and, to a lesser extent, our service provider customers.” Analysts expect revenue of about $1.48 billion.
Write to Joe Woelfel at [email protected]