Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making headlines in the world of finance. Today, we have some key insights on the premarket trading movements of some major players in the market.
Intel, a giant in the semiconductor industry, saw its shares drop over 4% after disclosing a growing operating loss in its semiconductor manufacturing business. This comes as Intel reported an operating loss of $7 billion in 2023, compared to $5.2 billion from the previous year.
Tesla, the electric vehicle maker, slipped around 1% as Guggenheim and Deutsche Bank slashed their price targets on the stock. This follows Tesla reporting weaker-than-expected first-quarter delivery numbers.
On a brighter note, Paramount Global saw its shares rise by 2.5% following reports that the company could potentially enter into exclusive sale discussions with the media company Skydance.
Dave & Buster’s, the popular restaurant and entertainment chain, experienced a 5% jump in shares after increasing its share repurchase authorization by $100 million, bringing the total available share repurchase authorization to $200 million.
Cal-Maine Foods, the egg producer, witnessed a 7% increase in shares after posting strong earnings per share and revenue for the latest quarter. The company noted that market prices moved higher due to the recent impact of highly pathogenic avian influenza (HPAI) and normal seasonal fluctuations.
On the flip side, chipmaker Wolfspeed saw a 2% decrease in shares after Wells Fargo downgraded the stock, citing Tesla exposure as a drag on growth.
Ally Financial, a prominent lender, experienced a 2% slip in shares after a downgrade to underweight from neutral at Morgan Stanley. Analyst Richard Shane highlighted “limited upside potential based on the current valuation.”
Stay tuned to Extreme Investor Network for more insightful analyses and updates on the dynamic world of finance. Join us as we delve deeper into the market trends and help you make informed investment decisions.
