Latest news with #premarket
Yahoo
an hour ago
- Automotive
- Yahoo
Home Depot, XPENG, Medtronic: Market Movers
A closer look as Home Depot (HD), XPENG (XPEV) and Medtronic (MDT) prepare to report earnings. Well, for market movers, we're going to focus on earnings. First, let's recap on Home Depot and look at how its shares are doing in the pre-market. It's trading lower around, I think about 5%. Oh, no, just over just 0.49% now. Even though the company's chief financial officer said the results were in line with expectations, and the performance was the strongest in two years. But that metric I spoke about earlier, comparable sales, just up 1% and missing the street view, did have an impact on investor sentiment in the pre-market. Though shares are starting to recover, and in reality, second quarter sales and profits did miss analyst estimates. Now, the company was able to maintain pricing levels because most of its imported goods arrived before the new tariffs kicked in. But the CFO did warn that later in the year, some items will get more expensive. Now, Home Depot sources more than 50% of its items in the US and said it plans to keep prices competitive. Okay, next up, we have Xpeng, the Chinese EV maker. On the face of it, the results don't look great. In the second quarter, revenue more than doubled though, to come in at 18.27 billion yuan. But analysts had been hoping for 18.38 billion. Also, it's forecast revenue for the third quarter of between 19.6 billion and 21 billion yuan, and that fell short of the street estimate. However, the automaker managed to deliver over 103,000 cars during Q2. Now get this, that's a 241% increase compared to the same period a year ago. And that's perhaps why we're seeing the shares performing quite well in the pre-market. The ADR is performing quite well in the pre-market. In fact, the Chinese automaker now sees profitability as being something it can achieve, and it's narrowed its net loss significantly in Q2. And finally, we've just got earnings from American Irish medical device provider, Medtronic. Now, revenue over the first quarter came in better than expected at $8.6 billion. Uh, the street was calling for $8.4 billion. They adjusted earnings per share was also better at $1.26, too. But operating margin came in slightly less than expected. Um, and that may have been having an impact on the share price. Now, shares did actually initially rise quite significantly. And that's because Medtronic is making changes to its board after Elliott Investment Management became one of its largest shareholders. Uh, in fact, the activist investor and the medical device maker have been holding friendly talks around how to boost the company's valuation and build on ongoing plans to focus on core assets. Now, as I said, that gave a massive boost to the shares in the pre-market. They've since started to slip, perhaps on the fact that operating margin came in just slightly lower than expected.
Yahoo
2 hours ago
- Business
- Yahoo
Intel stock jumps 5% as SoftBank takes $2 billion stake in ailing chip company
Intel (INTC) stock climbed more than 5% in pre-market trading Tuesday following the announcement that SoftBank Group (SFTBY) will take a $2 billion stake in the ailing chip giant. It's been a roller coaster few days for Intel. Last week, Bloomberg reported that the Trump administration was interested in taking its own stake in the company, sending shares higher into Friday. But on Monday, shares fell on reports that the government would buy up as much as 10% of Intel, closing out the trading day down 3.6%. Shares of Intel are up 18% year-to-date and 13% over the last 12 months. The SoftBank Group news comes as Intel continues to navigate its rocky turnaround plan that began under previous CEO Pat Gelsinger. Current CEO Lip-Bu Tan has scaled back Gelsinger's original vision, cancelling construction of international plants and further delaying Intel's $20 billion Ohio chip complex. 'We are very pleased to deepen our relationship with SoftBank, a company that's at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership," Tan said in a statement. "[SoftBank Group CEO Masayoshi Son] and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment,' he added. Intel is fighting to bring customers into its third-party chip foundry business, as it works through scaling its newest 18A chip technology. The company has already signed agreements to build chips on its technology with Microsoft and Amazon, but Intel is still the foundry business's largest customer. The company is also contending with losing market share in the server business and client computing business to rival AMD, which also benefits from its own AI business. Intel has effectively been shutout of the AI race due to a lack of innovation compared to AMD (AMD) and Nvidia (NVDA). Intel has gone through a series of major cust-cutting efforts since Tan took over in late 2024, including laying off 15% of its total workforce. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Applied Materials, Sandisk, Flowers: Trending Stocks
Applied Materials (AMAT) tumbles in premarket due to import issues with China, Sandisk (SNDK) takes a hit despite beating guidance and Flowers (FLO) fails to impress - again. Welcome back. Well, let's kick off our trending tickers. We're seeing several stocks in the red this morning. We start with applied materials which is suffering from uncertainty in China. It's largest market and investors nervousness in this uncertain geopolitical environment. You can see it here, the stock of the semiconductor company is tumbling. It's plunged nearly 15% at one point in premarket. As you can see just over 14% down right now. Applied materials reported strong Q3 earnings with revenue beating estimates at $7.3 billion, but issued a down beat forecast due to challenges in China. The company's outlook suggests a potential 4.9% year over year revenue decline next quarter. This is a clear barometer of investor sentiment with the current sky high valuations. Any negative signs in the AI and tech space can trigger massive market moves. Now on a similar note, here's another ticker that's falling right now. Sandisk, the Californian maker of flash memory cards plunged over 10% in pre-market action. Again, just like applied materials, its earnings beat earnings beat appear to tell a positive story on the surface with revenue at $1.9 billion above expectations and upbeat guidance. But the softer margin guidance rattled investors who seemed more concerned with Sandisk's near term profitability as the competition in the data storage space is high. And that means lower pricing power. Once again, there had been some enthusiasm about this company as it recently spun off from Western Digital and is it's expected to benefit from the AI boom and its data storage needs. But not today. One small detail was enough to spook off investors. It's definitely a jittery market out there. Okay, we've got some breaking news for you now with a company we don't hear about that often, but that's worth your attention this morning. US baking giant Flowers Food shares are set to tumble again after earnings came in. Revenue actually came in at 1.24 billion dollars. That was below the expected 1.27 billion dollars and the company has cut its full year forecast as well. It's a company that's based out in Georgia. The company creates products such as Wonderbread and Nature's Own and has a market cap of around three and a half billion dollars. Shares are down around 20% in value year to date, but they had recovered slightly in the past month as analysts were hoping for improvements. Now direct rivals who have already reported, such as Fresh Del Monte and Vital Farms, have actually beaten expectations, but not Flowers Food which had missed Wall Street estimate revenues six times over the last two years. Now they make that seven, and this report adds even more pressure. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
4 days ago
- Business
- Bloomberg
UnitedHealth Surges After Buffett, Tepper Bet on Turnaround
UnitedHealth Group Inc. shares jumped after funds piled into the company, which has been hampered by a federal probe into its business practices and weakening results. The investments were a welcome reprieve for a company that had seen its stock fall 46% this year. In premarket trading on Friday, the shares rose 10%, which would be the biggest increase since 2020.
Yahoo
4 days ago
- Business
- Yahoo
Intel stock jumps after Trump calls meeting with CEO Lip-Bu Tan 'interesting,' signals more talks ahead
Intel (INTC) stock jumped more than 3% in premarket trading on Tuesday after CEO Lip-Bu Tan met with President Trump, who had called for Tan's resignation last week. After the meeting, Trump posted to Truth Social that he had met with Tan along with Secretary of Commerce Howard Lutnick and Secretary of the Treasury Scott Bessent. "The meeting was a very interesting one," the president wrote, adding, "His success and rise is an amazing story." Trump said Tan and his Cabinet will "spend time together" and "bring suggestions" to him in the next week, without specifying the topics to be discussed. Intel also released a statement acknowledging the two met and saying they had "a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership." Intel stock pared gains after the market open. Shares rose 3.5% on Monday during the day as reports circulated about the meeting. Citing unnamed sources, the Wall Street Journal reported over the weekend that Tan was set to meet with Trump on Monday to explain his personal and professional background and to propose ways that Intel and the government can collaborate. Last week, Trump called for Tan's resignation in a Truth Social post minutes after Fox Business covered Republican Sen. Tom Cotton's recent criticism of the CEO over his ties with China. In a letter to Intel, Cotton expressed "concern about the security and integrity of Intel's operations," given Tan's investments in Chinese businesses through his venture capital firm, Walden International. Trump wrote in his post last Thursday, "The CEO of INTEL is highly CONFLICTED and must resign, immediately.' Tan responded by saying reports about his career contained "misinformation." "There has been a lot of misinformation circulating about my past roles ... I want to be absolutely clear: Over 40+ years in the industry, I've built relationships around the world and across our diverse ecosystem — and I have always operated within the highest legal and ethical standards," Tan wrote in a memo to employees. Intel also issued its own statement following Trump's comments, emphasizing its commitment to "advancing US national and economic security interests" and to making investments "aligned with the President's America First agenda," including domestic semiconductor manufacturing. Tan was named Intel's CEO in March, taking over after his predecessor Pat Gelsinger was ousted by the board last year. The company struggled to stem losses in its manufacturing business, regain market share in its legacy computer chip segment, and develop an AI strategy. Investors cheered Tan's appointment, with the stock rising as much as 15% after the news. Wall Street analysts, as well as several current and former executives and employees, saw Tan as the best possibility to succeed in turning around the troubled company. Intel's gain Monday puts shares of the company up nearly 4% this year, lagging chipmakers such as Nvidia (NVDA) and Advanced Micro Devices (AMD), which have added roughly 36% and 47% in 2025, respectively. Intel stock's uptick this year follows a 60% drop in 2024. Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @ Email her at Sign in to access your portfolio
