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Intel Corporation

Intel Corporation

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NASDAQSemiconductors

310 stories mentioning Intel CorporationUpdated 2m ago

BofA upgraded Intel to Buy from Underperform and raised its target to $135, citing agentic-AI-driven demand for x86 CPUs.

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Wire

Intel's Improving Fundamentals Still Constrained by Valuation, Wedbush Says

Intel (INTC) continues to report improving fundamentals, though justifying the company's valuation relative to its peers remains a limiting factor, Wedbush said in a Friday note.Wedbush said Q2 revenue, gross margin and earnings per share exceeded both management's guidance and the firm's estimates, supported by strong server compute demand, higher pricing, favorable product mix and improved yields.The firm also said management's Q3 outlook appears beatable given continued demand conditions and models 2026 revenue of $63.49 billion and earnings per share of $1.58.The brokerage said increased investment tied to 14A and 18A ramps, along with higher capital-spending plans for 2026 and 2027, signals greater confidence in Intel's technology roadmap and foundry progress.Wedbush maintained its neutral rating on Intel and raised its price target to $98 from $60.Price: $96.45, Change: $-3.78, Percent Change: -3.77%

$INTC
Wire

New Street Adjusts Price Target on Intel to $115 From $122, Maintains Neutral Rating

Intel (INTC) has an average rating of hold and mean price target of $115.72, according to analysts polled by FactSet.Price: $96.45, Change: $-3.78, Percent Change: -3.77%

$INTC
Wire

Intel Q2 Beat Supports Buy Thesis on Foundry, Server Growth, BofA Says

Intel's (INTC) second-quarter revenue and earnings beat, along with above-consensus third-quarter guidance, reinforce Bank of America Securities' Buy thesis on progress in external foundry discussions and rising server-CPU demand tied to the agentic-AI cycle, the brokerage said in a Thursday report.Intel reported second-quarter revenue of $16.13 billion, about 12% above consensus, and non-GAAP EPS of $0.43, nearly double consensus expectations, according to BofA.Its third-quarter revenue guidance midpoint of $16.3 billion was about 8% above consensus.BofA said Intel's discussions with potential external manufacturing customers have reached a more tangible stage, contributing to higher capital-expenditure forecasts.The brokerage also cited 59% year-over-year growth in Data Center and AI revenue, which it described as Intel's strongest growth rate in 15 years.The firm reiterated its Buy rating and $160 price objective, citing Intel's U.S.-based leading-edge manufacturing capacity and White House support as long-term competitive advantages.BofA raised its 2026, 2027 and 2028 EPS estimates to $1.49, $2.09 and $3.01, respectively, from $1.06, $1.72 and $2.53 previously.Intel's first firm commitment to develop its 14A process technology, higher 2026 and 2027 capital-spending forecasts, and the hiring of former SK Hynix Chief Executive Seok-Hee Lee to lead Intel Foundry's advanced-packaging business are signs of potential external-foundry progress, the analysts said.Price: $96.19, Change: $-4.04, Percent Change: -4.03%

$INTC
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Amid New US Tariffs

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.1% in Friday's premarket activity, as investors digest new US tariffs amid continued corporate earnings.US stock futures were higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures gaining 0.4%, and Nasdaq futures advancing 0.1% before the start of regular trading.S&P Global US Manufacturing, Service, and Composite PMI are expected at 9:45 AM ET. New Home Sales are due at 10 AM ET, followed by Kansas City Fed Services at 11 AM ET.In premarket action, bitcoin was up by 0.01%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) rose over 2.6%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.1%, the iShares US Technology ETF (IYW) was 0.6% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.9%, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.Intel (INTC) shares were up more than 3% in premarket activity after the company reported that it swung to fiscal Q2 adjusted earnings as revenue increased during the period.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was down 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.4%.SLB N.V. (SLB) stock was up more than 3% before market open after the company reported Q2 adjusted earnings Friday of $0.55 per diluted share, above analyst estimates of $0.51.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) rose 2.2%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was up 0.9%.Fly-E Group (FLYE) shares were up 2.4% pre-bell after the company said late Thursday it filed its overdue Form 10-K and expects it will eliminate the need to submit a formal plan to regain compliance with Nasdaq.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, the Vanguard Industrials Index Fund (VIS) was up 0.6% and the iShares US Industrials ETF (IYJ) was inactive.C.H. Robinson Worldwide (CHRW) stock was down more than 2% before the opening bell after the company said that a Dallas County, Texas jury issued a $604 million advisory verdict against the company and two other defendants in a lawsuit stemming from a trucking accident.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was inactive, while the iShares US Healthcare ETF (IYH) slipped 1.4%. The iShares Biotechnology ETF (IBB) was inactive.Novo Nordisk (NVO) stock was up more than 1% premarket after the company filed a preliminary US court injunction to immediately block advertising by Eli Lilly (LLY) for its obesity and diabetes drugs.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1% lower.HSBC (HSBC) shares traded up 1% in early hours activity after the company signed the share purchase deal to sell HSBC Life in Singapore for $2.09 billion to Allianz Asia.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.3% to $89.15 per barrel on the New York Mercantile Exchange. Natural gas was up by 1% to $2.95 per 1 million British Thermal Units. The United States Oil Fund (USO) was down 2.4%, while the United States Natural Gas Fund (UNG) was 2% higher.Gold futures for July advanced 0.2% to $4,057.90 an ounce on the Comex. Silver futures were up 1.1% to $58.71 an ounce. SPDR Gold Shares (GLD) increased 0.1%, and the iShares Silver Trust (SLV) was 1.4% higher.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CHRW$EEM$EETH$EXI$FAS$FAZ$FLYE$GLD$HSBC$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVO$PMR$QQQ$RTH$SLB$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Tech Stocks Rise Premarket Friday

Technology stocks were rising premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.9% higher.Intel (INTC) stock was up more than 2% after the company reported that it swung to fiscal Q2 adjusted earnings as revenue increased during the period.Oracle (ORCL) won an enterprise software agreement from the US Department of War with a potential value of up to $7 billion over a 10-year term, the department said. Shares of Oracle were up more than 1% pre-bell.Salesforce (CRM) shares were up more than 1% after the company said the US Department of Veterans Affairs awarded the company, through its distribution network, a three-year $1.6 billion agentic enterprise license agreement.

$CRM$INTC$ORCL$XLK$XSD
Sectors

Sector Update: Tech

Technology stocks were mixed premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.5% lower.Intel (INTC) stock was up more than 2% after the company reported that it swung to fiscal Q2 adjusted earnings as revenue increased during the period.

$INTC
Asia Markets

Update: US Equity Futures Nudge Higher Pre-Bell as Traders Weigh New US Tariffs, Declining Oil Prices

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures nudged higher pre-bell Friday as traders weighed a new set of tariffs imposed by the US on its trading partners and a decline in oil prices.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.2% higher.The US has imposed new tariffs on 60 trading partners over alleged forced labor concerns. Countries that have committed to prohibit forced labor were hit with a 10% tariff, while those that have not committed will receive a rate of 12.5%.President Donald Trump is seriously considering a "massive attack" on Iran, but has not given a deadline for his decision, according to an Axios report Thursday. He said that Iran "wants to negotiate," but he does not currently want to make a deal.US forces completed the 13th straight round of attacks on Iran, US Central Command said in a post on X, adding that the Strait of Hormuz "remains open for transit" despite the recent attacks from Iran's Islamic Revolutionary Guard Corps.Traders also digested the latest round of earnings, with American Express (AXP) posting higher Q2 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.4% at $97.27 per barrel and US West Texas Intermediate crude 3.3% lower at $89.20 per barrel.The July S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 54.4, up from 53.9 previously, according to estimates compiled by Bloomberg. June new home sales, due at 10 am ET, are seen at a 607,000 annual rate, up from 580,000 previously.In other world markets, Japan's Nikkei closed 2.7% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 1.6% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.In equities, Intel (INTC) stock rose 3.4% after the company reported a Q2 beat for adjusted earnings and its strongest revenue growth in 15 years, driven by a 59% surge in the data center and artificial intelligence unit. Oracle (ORCL) shares were up 2.3% after the company secured a 10-year enterprise software contract worth about $7 billion from the US Department of Defense. Amkor Technology (AMKR) stock was 12% higher after the company said it entered into a multi-year strategic partnership with Nvidia (NVDA) to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms.On the losing side, American Express shares dropped 3.8% after the company reported lower-than-expected Q2 net revenue. Verizon Communications (VZ) stock was down 1.7% after the company posted Q2 operating revenue that fell short of analysts' consensus estimates. Sanofi (SNY) shares fell 1.4% after the company said it stopped clinical testing and global regulatory applications for its amlitelimab medication treating moderate-to-severe atopic dermatitis.

Dow JonesNasdaq CompositeS&P 500$AMKR$AXP$INTC$NVDA$ORCL$SNY$VZ
Stocks Rise Pre-Bell as Traders Assess New US Tariffs, Latest Middle East Developments
US Markets

Stocks Rise Pre-Bell as Traders Assess New US Tariffs, Latest Middle East Developments

The benchmark US stock measures were trending higher before the open Friday as investors assess Washington's new phase of global tariffs and the latest developments in the Middle East.The S&P 500 and the Nasdaq gained 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.5%. The indexes ended the previous trading session lower, with the Nasdaq and S&P 500 recording their biggest one-day declines since June 23.In a fact sheet published on Thursday, the Office of the US Trade Representative announced new tariffs of 10% or 12.5% on 60 economies that it said have failed to prohibit or effectively enforce bans on imports made with forced labor, including China, India, the UK and the European Union.The duties took effect at 12:01 a.m. ET Friday, replacing President Donald Trump's temporary 10% global tariffs, which expired at the same time, CNBC reported.Earlier this week, Trump signed three proclamations to impose 50% tariffs on the imports of motor vehicles, alcohol and dairy products from Canada.West Texas Intermediate crude oil dropped 3.5% to $88.99 a barrel before the opening bell, while Brent fell 3.6% to $97.13.Trump told Axios on Thursday that he is seriously considering restarting major combat operations against Iran. The US Central Command said it completed its 13th consecutive night of strikes against Tehran on Thursday.The Iran-backed Houthi militants in Yemen recently claimed attacks on two Saudi Arabian oil tankers in the Red Sea, sparking concerns over a potential closure of the Bab el-Mandeb Strait, an alternate shipping route to the Strait of Hormuz.In a social media post, Trump said the US will hold Iran responsible and threatened "major military punishment" if its Houthi proxies continued to attack commercial ships.Treasury yields were down in premarket action, with the two-year rate retreating 3.4 basis points to 4.33% and the 10-year rate off 2 basis points to 4.68%."Rising oil prices have revived talk of a (Federal Reserve) rate hike, with rates markets now beginning to treat next week's (Federal Open Market Committee) meeting as a live decision after the 10-year yield pushed back toward its year-to-date high," Saxo Bank said in a report Thursday.The probability that the Fed will leave its benchmark lending rate unchanged next week stood at 71% on Friday, up from 66% the day before, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase moved down to 29% from 34%.Shares of Intel (INTC) advanced 5.3% pre-bell after the chipmaker reported second-quarter results ahead of Wall Street's estimates. Oracle (ORCL) inclined 2.6% as the cloud computing giant secured a 10-year enterprise software contract worth nearly $7 billion with the US Department of War.American Express (AXP), Verizon Communications (VZ), HCA Healthcare (HCA), SLB (SLB), Charter Communications (CHTR), Booz Allen Hamilton (BAH) and Lamb Weston (LW) report their latest financial results before the bell, among others.Friday's economic calendar has the S&P Global's (SPGI) flash purchasing managers' index for July at 9:45 am ET, followed by the new home sales report for June at 10 am. The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Gold nudged up 0.3% to $4,061 per troy ounce, while bitcoin increased 0.2% to $64,949.

Dow JonesNasdaq CompositeS&P 500$AXP$BAH$CHTR$HCA$INTC$LW$ORCL$SLB$SPGI$VZ
Asia Markets

Update: US Equity Indexes Slump, Crude Oil Soars as Trump Warns of Big Iran Attack

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes dropped as government bond yields jumped to the highest in a year and crude oil surged after President Donald Trump warned of a major operation in Iran.The Nasdaq Composite slumped 2.2% to 25,137.69, the S&P 500 dropped 1.2% to 7,408.30, and the Dow Jones Industrial Average declined 1% to 51,711.65 on Thursday. Consumer discretionary and communication services were the standout decliners, down more than 5% each, while technology also lagged. Industrials and health care topped the gainers.President Donald Trump is considering restarting major combat operations in Iran, including strikes bigger than the ones seen in Operation Epic Fury, according to an Axios report. "I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it," the president said.Yemen's Houthi rebels said they attacked two Saudi Arabian oil tankers in the Red Sea on Thursday to disrupt Middle East exports, according to a report from the Associated Press. If Houthis attack again, "the U.S. will hold Iran responsible, in that the Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis themselves," Trump said in a Truth Social post.The CBOE Volatility Index VIX, also known as the fear gauge for equities, shot up 12% to 18.70.The front-month US West Texas Intermediate soared 6.1% to $92.13 a barrel, and global benchmark North Sea Brent spiked 6.5% to $100.19 a barrel.In precious metal markets, gold futures dropped 2.4% to $4,052.20, and silver futures slumped 4% to $57.91, reflecting concerns that an extended disruption to crude oil supplies may make it more challenging for the Federal Reserve to bring inflation down to its 2% target.US Treasury yields jumped, extending gains. The 10-year marched 3.8 basis points higher to 4.70% after touching its highest intraday level in a year. The two-year surged 4.7 basis points to 4.35% after yields hit a fresh 52-week high this week.In economic news, initial jobless claims fell 22,000 to 187,000 in the week ended July 18, the lowest since 1969 and trimming the four-week moving average by 7,250 to 207,500, a fourth straight decrease.In company news, Tesla (TSLA) shares fell 14.5%, the worst performer in the S&P 500 and the Nasdaq, after the firm reported a steeper-than-expected drop in Q2 adjusted earnings.The European Commission fined Alphabet's (GOOG, GOOGL) Google 890 million euros ($1.04 billion) for violating the Digital Markets Act by self-preferencing in Google Search and anti-steering practices on Google Play. Shares slumped 7.1%, among the steepest decliners on the S&P 500, the Nasdaq, and the Dow.After the bell, Intel (INTC) reported fiscal Q2 adjusted earnings of $0.42 per share, swinging from a loss of $0.10 a year earlier. Analysts polled by FactSet expected earnings of $0.22. Revenue for the three months ended June 27 jumped to $16.13 billion from $12.86 billion a year earlier. Analysts expected $14.44 billion.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$TSLA
Intel Tops Quarterly Estimates as Data Center Boost Drives Fastest Revenue Growth in 15 Years
US Markets

Intel Tops Quarterly Estimates as Data Center Boost Drives Fastest Revenue Growth in 15 Years

Intel (INTC) reported second-quarter results ahead of Wall Street's estimates late Thursday, with the strongest revenue growth in 15 years driven by a 59% surge in the data center and artificial intelligence unit.The chipmaker reported adjusted earnings of $0.42 per share, compared with a loss of $0.10 a year earlier. Analysts polled by FactSet expected $0.22 in EPS. Revenue grew 25% to $16.13 billion, compared with the Street's $14.43 billion view."Our (second-quarter) results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus," Chief Executive Lip-Bu Tan said in a statement.Sales for the data center and AI segment surged 59% to $6.26 billion in the second quarter, while client computing and physical AI group increased 13% to $8.88 billion. Revenue for the foundry business rose 31% to $5.77 billion."AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates," Chief Financial Officer Dave Zinsner said.Adjusted free cash flow moved deeper into negative territory, at $8.42 billion compared with a negative balance of $1.05 billion a year earlier.Wedbush Securities projected Intel's second-quarter results to top estimates due to server demand and rising prices. However, the brokerage cautioned market reaction could hinge more on broader sentiment than operational beats.Taiwan Semiconductor Manufacturing's (TSM) quarterly beat couldn't avert a sector-wide sell-off sparked by worries over China's advances in AI, global economic conditions and data center spending, Wedbush analysts Matt Bryson and Antoine Legault said in a report on Monday."And while Intel may be better positioned to deal with at least one of these worries, with Intel's valuation well above historical norms (and industry peers), we also believe it is arguably more susceptible to broader market swings [unlike say TSM or Nvidia (NVDA)]," Bryson and Legault wrote.For the third quarter, Intel expects adjusted EPS of $0.38 on revenue of $15.8 billion to $16.8 billion. Analysts are looking for $0.27 and $15.08 billion, respectively.The company's shares were up 9.3% in after-hours trading, and have gained 172% this year through Thursday close.

$INTC$NVDA$TSM
Wire

Earnings Flash (INTC) Intel Posts Q2 Revenue $16.1B, vs. FactSet Est of $14.44B

Earnings Flash (INTC) Intel Posts Q2 Revenue $16.1B, vs. FactSet Est of $14.44B

$INTC
Japan

Update: US Equity Indexes Slump, Crude Oil Soars as Iran-Backed Houthis Hit Tankers in Red Sea Chokepoint

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes dropped, as government bond yields jumped with crude oil after Iran-aligned Houthis attacked Saudi Arabian tankers and investors awaited Intel's (INTC) earnings following a decline in the shares of mega-caps Alphabet (GOOG, GOOGL) and Tesla (TSLA).The Nasdaq Composite slumped 2.4% to 25,074.5, the S&P 500 dropped 1.4% to 7,393.7, and the Dow Jones Industrial Average declined 1.1% to 51,654.6 ahead of Thursday's close. Intel's quarterly results are due after the bell on Thursday.Iran flew Islamic Revolutionary Guard Corps commanders, military advisers, and missile- and drone-related equipment into Yemen this month, according to four sources, in a move that suggests Tehran is seeking to strengthen the ability of its Houthi allies to threaten Red Sea shipping, Reuters reported.Houthi rebels said they attacked two Saudi Arabian oil tankers in the Red Sea on Thursday, according to a report from the Associated Press, further heightening supply concerns as the militants sought to disrupt Middle East exports.The front-month US West Texas Intermediate soared 5.7% to $91.78 a barrel, and global benchmark North Sea Brent spiked 6.5% to $100.21 a barrel.Crude oil extended its rally after "Iran-backed Houthi militants struck two Saudi tankers in the Red Sea," Saxo Bank said in a note. The bid "reflects the US-Iran conflict, the Houthi threat to Red Sea shipping through the Bab el-Mandeb Strait, and Tehran's dismissal of peace talks," it said.US Treasury yields jumped, extending gains, reflecting concerns that an extended disruption to crude oil supplies may make it more challenging for the Federal Reserve to bring inflation down to its 2% target. The 10-year marched 4.2 basis points higher to 4.7% after touching its highest intraday level in a year. The two-year surged 5.1 basis points to 4.35% after yields hit a fresh 52-week high this week.In company news, Tesla shares fell 15%, the worst performer in the S&P 500 and the Nasdaq, after the firm reported a steeper-than-expected drop in Q2 adjusted earnings. Gross and operating margins missed consensus "considerably," and "more important aspects are an increase in capital investments and operating expenses related to the AI transition," Truist Securities said in a note. Free cash flow turned negative in Q2, with an outflow of $1.1 billion.The European Commission fined Alphabet's Google 890 million euros ($1.04 billion) after the company violated the Digital Markets Act through self-preferencing in Google Search and anti-steering practices on Google Play. Shares slumped 7%, among the steepest decliners on the S&P 500, the Nasdaq, and the Dow.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$TSLA
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.The Philadelphia Semiconductor index was down 1.6%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 7%.STMicroelectronics (STM) shares tumbled past 18% after its Q3 revenue outlook fell short of analysts' consensus.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 2.4%, and AMD fell 2.8%.Amazon.com-backed (AMZN) Anthropic is considering requiring all employees to sell any shares through 10b5-1 stock plans, The Information reported. Because 10b5-1 stock plans require the sale of shares on preset schedules, they are intended to protect against insider trading accusations. However, they're typically only for top-level executives. Amazon shares were down 4.6%.

$AMD$AMZN$GOOGL$INTC$STM
Sectors

Sector Update: Tech Stocks Decline Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 1.1%.The Philadelphia Semiconductor index was down 0.5%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 6.2%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 1.6%, and AMD fell 3.1%.IBM (IBM) said Thursday that it has agreed to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). IBM shares were down 0.7%.

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Wire

Top Midday Stories: Alphabet Doubles Q2 Capital Spending; Tesla Reports Earnings Decline, Negative Free Cash Flow

All three major US stock indexes were down in late-morning trading Thursday, as Alphabet (GOOG) and Tesla (TSLA) stocks were down after the two tech giants announced increased spending in artificial intelligence.In company news, Alphabet reported Q2 earnings late Wednesday of $9.11 per diluted share, up from $2.31 a year earlier, and above the FactSet consensus analyst estimate of $2.88. Q2 revenue was $119.80 billion, up from $96.43 billion a year ago and above the FactSet consensus of $117.06 billion. Alphabet's Q2 capital expenditure doubled year over year to $44.92 billion from $22.45 billion, bringing total capital spending for the first six months of the year to $80.60 billion. The company revised its 2026 capital expenditure forecast to between $180 billion and $190 billion in April, up from its previous estimate of $175 billion to $185 billion. Alphabet shares were down 7% around midday.On Thursday, Alphabet's Google was fined a total of 890 million euros ($1.04 billion) by the European Commission after the regulator found the company violated the Digital Markets Act. The Commission fined Google 460 million euros over its Google Search practices and 430 million euros for restricting app developers from steering users to alternative purchasing channels outside Google Play. The European Commission ordered Google to end the violations within 60 days by treating third-party services fairly in search rankings and allowing app developers to freely communicate and promote offers outside Google Play, with failure to comply resulting in periodic penalty payments of up to 5% of Google's total worldwide turnover. The company said it is reviewing the decision and evaluating all options, including an appeal.Tesla (TSLA) reported Q2 adjusted earnings late Wednesday of $0.33 per diluted share, down from $0.40 a year earlier and below the FactSet consensus analyst estimate of $0.55. Q2 revenue was $28.24 billion, up from $22.50 billion a year ago and above the FactSet consensus of $26.42 billion. Operating expenses jumped 47% on a yearly basis to $4.35 billion and rose sequentially as well. The auto manufacturer ended the quarter with a negative free cash flow as capital expenditures "more than doubled" from the previous three-month period, Chief Financial Officer Vaibhav Taneja said during an earnings call,. The company continues to expect its capital expenditures to be at over $25 billion this year, the CFO added. "[Capital expenditures] will grow for the next two or three years as we expand our Robotaxi fleet, expand our production capacity for Optimus, make investments for semiconductor fab, install solar manufacturing capacity and AI compute infrastructure in addition to all the other expansions we'll do for other manufacturing for automotive," Taneja told analysts. Tesla shares were down 14%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported Thursday, citing two unnamed sources familiar with the talks. China is also building out data centers, which require not only advanced chips, but also memory chips and central processing units, according to the report. China-based chip buyers are looking to lock in supplies in one- to two-year supply contracts, which do not fix prices, the report said. Intel shares were down 1.8%, while AMD shares were down 2.3%.RTX (RTX) reported Q2 adjusted earnings Thursday of $1.89 per diluted share, up from $1.56 a year earlier, and above the FactSet consensus analyst estimate of $1.66. Q2 net sales were $24.71 billion, up from $21.58 billion a year earlier and above the FactSet consensus of $22.89 billion. The company raised its 2026 adjusted EPS guidance to between $7.10 and $7.25, from the previous range of $6.70 to $6.90. Analysts polled by FactSet expect $6.95. RTX shares were up 7.5%.IBM (IBM) said Thursday that it signed a definitive agreement to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). Financial terms were not disclosed. Boeing and GM will continue to partner with IBM on quantum applications and advanced technology development. HRL's expertise in silicon-spin qubits and quantum sensing will support IBM's quantum computing plans, IBM said. The transaction is expected to close by the end of Q3. IBM shares were up 0.7%, Boeing shares were 0.3% lower, and General Motors shares were down 3.3%.Price: $318.15, Change: $-23.76, Percent Change: -6.95%

$AMD$BA$GM$GOOG$GOOGL$IBM$INTC$RTX$TSLA
Wire

Mobileye Global Founder Amnon Shashua to Step Down as CEO; Shares Fall

Mobileye Global (MBLY) said founder Amnon Shashua plans to step down as CEO once a successor is appointed.The board will hire an executive search firm to identify the next CEO, Intel-backed (INTC) Mobileye said Thursday in a statement.Shashua will remain on the board and has been offered the chairman role, where he would focus on long-term technology strategy and Mobileye's humanoid robotics efforts, the statement said.Mobileye shares fell 13% in Thursday trading, and Intel rose 0.3% as the broader tech sector slumped.Price: $7.66, Change: $-1.12, Percent Change: -12.76%

$INTC$MBLY
Asia Markets

Update: US Equity Futures Drop Pre-Bell as Mid-East Conflict Expands to Potentially Include Red Sea

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Thursday as traders considered the possibility of the Middle East conflict spreading to a new front in the Red Sea, lifting oil prices closer to the $100 mark.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.1% lower.The US launched attacks on Iran for the 12th consecutive day, US Central Command said in a post on X. Iran-backed Houthis in Yemen have claimed they attacked two Saudi Arabian oil tankers in the Red Sea for allegedly violating their announced blockade, in a potential new front for the war, according to multiple media reports.Alphabet's (GOOG, GOOGL) Google posted higher earnings and revenue for Q2, but the company's stock dropped 5% in premarket activity as it increased its forecasted capital expenditures to as high as $205 billion.Intel (INTC) is is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $0.22 per share on revenue of $14.44 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 5.5% at $99.27 per barrel and US West Texas Intermediate crude 4.3% higher at $90.55 per barrel.Initial jobless claims dropped to 187,000 in the week ended July 18 from 209,000 in the previous week, compared with expectations for an increase to 210,000 in a survey compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended 1.3% higher, and China's Shanghai Composite finished 0.3% higher. Meanwhile, the UK's FTSE 100 was down 0.5%, and Germany's DAX index was 0.8% lower in Europe's early afternoon session.In equities, Tesla (TSLA) shares fell 7.6% after the company reported an unexpected year-over-year decline in its Q2 earnings and missing analysts' consensus estimates. T-Mobile US (TMUS) stock was down 5.7% after the company posted lower-than expected Q2 revenue. Texas Instruments (TXN) shares were 4.7% lower despite the company reporting higher Q2 earnings and revenue.On the winning side, RTX (RTX) stock was up 5.9% after the company surpassed consensus estimates for Q2 adjusted earnings and net sales. Thermo Fisher Scientific (TMO) shares rose 5% after the company reported better-than-expected fiscal Q2 adjusted earnings and revenue. Lockheed Martin (LMT) stock was 4.9% higher after the company posted a Q2 beat for earnings and sales, as well as increased its 2026 EPS outlook.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$LMT$RTX$TMO$TMUS$TSLA$TXN
Japan

US Equity Futures Drop Pre-Bell as Mid-East Conflict Expands to Potentially Include Red Sea

US equity futures were lower pre-bell Thursday as the traders considered the possibility of the Middle East conflict spreading to a new front in the Red Sea, lifting oil prices closer to the $100 mark.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.9% lower.The US launched attacks on Iran for the 12th consecutive day, US Central Command said in a post on X. Iran-backed Houthis in Yemen have claimed they attacked two Saudi Arabian oil tankers in the Red Sea for allegedly violating their announced blockade, in a potential new front for the war, according to multiple media reports.Alphabet's (GOOG, GOOGL) Google posted higher earnings and revenue for Q2, but the company's stock dropped 4.7% in premarket activity as it increased its forecasted capital expenditures to as high as $205 billion.Intel (INTC) is is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $0.22 per share on revenue of $14.44 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.9% at $98.64 per barrel and US West Texas Intermediate crude 4.5% higher at $90.69 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 210,000 new unemployment claims for the week ended July 18, up from 208,000 in the prior week, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC
Stocks Fall Pre-Bell Amid Rising Middle East Tensions; Traders Parse Alphabet, Tesla Results
US Markets

Stocks Fall Pre-Bell Amid Rising Middle East Tensions; Traders Parse Alphabet, Tesla Results

US equity markets were tracking in the red before the opening bell Thursday and oil prices rose amid escalating tensions in the Middle East, while investors digest the latest financial results of Alphabet (GOOG, GOOGL) and Tesla (TSLA).The S&P 500 and the Dow Jones Industrial Average declined 0.2% each in premarket activity, while the Nasdaq was off 0.3%. The indexes ended the previous trading session mostly down.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea on Wednesday, raising concerns that the conflict could spread to a new front in the Middle East, CNBC reported. The UK Maritime Trade Operations said Wednesday that an "unknown projectile" struck a Saudi Arabian oil tanker around 70 nautical miles southwest of Al Shuqaiq, Saudi Arabia.West Texas Intermediate crude oil climbed 3.7% to $89.99 a barrel before the open, while Brent increased 4.4% to $98.18.The US Central Command said Wednesday its forces struck Iran for the 12th consecutive night. In a social media post, President Donald Trump vowed to destroy an Iranian bridge or power plant every time Tehran attacks ships in the Strait of Hormuz.Iran's Islamic Revolutionary Guard Corps said it hit Jordan's King Faisal and Prince Hassan bases with missiles and drones, claiming to have targeted US military equipment in response to recent American strikes, CNN reported Wednesday.Treasury yields were trending higher in premarket action, with the two-year rate rising 1.3 basis points to 4.32% and the 10-year rate adding 1.8 basis points to 4.68%.Alphabet's (GOOG, GOOGL) class A and C shares were down roughly 4% each pre-bell after the Google parent announced in its second-quarter results that its capital expenditure doubled year over year. Tesla's stock dropped 5.9% as the electric vehicle manufacturer recorded an unexpected year-over-year decrease in its second-quarter earnings amid higher expenses related to research and development and artificial intelligence initiatives.ServiceNow (NOW) jumped 7.6% while IBM (IBM) edged down 0.6% early Thursday following their latest financial results.T-Mobile US (TMUS), Thermo Fisher Scientific (TMO), Union Pacific (UNP), Lockheed Martin (LMT), Blackstone (BX), Comcast (CMCSA) and Honeywell International (HON) are scheduled to release their quarterly earnings before the bell, among others. Intel (INTC) and Deckers Outdoor (DECK) are due to announce their results after the markets close.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the Chicago Fed national activity index for June. The Kansas City Fed manufacturing index follows at 11 am.Gold fell 1.5% to $4,092 per troy ounce, while bitcoin slipped 0.2% to $65,732.

Dow JonesNasdaq CompositeS&P 500$BX$CMCSA$DECK$GOOG$GOOGL$HON$IBM$INTC$LMT$NOW$TMO$TMUS$TSLA$UNP
Asia Markets

Update: US Equity Futures Drop Pre-Bell as Oil Prices Jump Amid Lack of Progress in US-Iran Talks

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Wednesday as oil prices rose following US Secretary of State Marco Rubio's statement that Iran was not taking negotiations seriously.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1% lower.US Central Command said in a post on X that it completed the 11th straight day of attacks against Iran, stating that the Strait of Hormuz "remains open for commercial vessel transit.""The problem we're having right now is that they're not serious about talks. If they're serious, we're serious. If they're not, then we will do what's necessary to protect our interests, and also the interests of our allies," Rubio said during the ASEAN Foreign Ministers' meeting in the Philippines, according to multiple media reports.Traders also took note of the latest round of earnings, with Philip Morris International (PM) reporting higher Q2 adjusted earnings and net revenue.Alphabet (GOOG, GOOGL) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.88 per share on revenue of $117.06 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.1% at $93.84 per barrel and US West Texas Intermediate crude 2.8% higher at $86.70 per barrel.The Atlanta Fed Business Inflation Expectations survey for July is expected at 10 am ET.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was up 1.5%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Super Micro Computer (SMCI) stock was up 14% after the company said it expects fiscal Q4 gross margins of 15% to 17%, significantly above its 8.2% to 8.4% forecast due to a favorable customer and product mix. AT&T (T) shares rose 4.2% after the company reported better-than-expected Q2 adjusted earnings. Energy-related stocks rose along with oil prices, including Exxon Mobil (XOM), which was up 1%, and Chevron (CVX), which was 1% higher.On the losing side, Philip Morris shares were down 1.9% after the company issued lower-than-expected guidance for Q3. SK hynix (SKHY) stock was down 7.1% after a Korea JoongAng Daily report on Tuesday that the company is considering acquiring Intel's (INTC) semiconductor campus in New Albany, Ohio, which the South Korean chipmaker denied in a Korea Exchange filing. GE Vernova (GEV) shares fell 5.1% after the company posted a Q2 earnings miss.

Dow JonesNasdaq CompositeS&P 500$CVX$GEV$GOOG$GOOGL$INTC$PM$SKHY$SMCI$T$XOM

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