Bell: Check out the companies that make headlines before Intel. Chipmaker’s stock fell more than 7% after Intel said it would cut 15% of its workforce and cut Chip Factory Construction’s plans to stimulate its artificial intelligence strategy. Intel surpassed its second-quarter revenue results, recording revenue of $12.86 billion. This has resulted in the analysts surveyed by LSEG defeating the expected $11.92 billion, losing an adjusted 10 cents per share. Paramount – CBS TV owners rose more than 1% in early trading on Friday after the Federal Communications Commission approved a $8 billion merger between Paramount and Skydance Media on Thursday. Centene – Managed care providers plummeted 14% after a quarterly loss in membership across Medicaid and Medicare operations. Centene recorded a second-quarter adjusted loss of 16 cents per share, with analysts voting a revenue of 11 cents per share for the FactSet projected revenue. According to FactSet, revenues of $48.7 billion surpassed the $48.7 billion analyst’s $44.1 billion forecast. Centene CEO said the company was “disappointed” by the results and “cooperation with urgency and focus to restore its revenue trajectory.” Deckers Outdoor – Ugg Boots makers surged more than 12% after the first quarter fiscal quarter results beat Wall Street expectations. Deckers scored 93 cents per share with revenues of $965 million, while analysts voted by LSEG stacked pencils with revenues of 68 cents per share and $901 million. Deckers cited the flagship brand’s more sales than expected, as well as the popular Hoka athletic shoes and sandals. CARVANA – Online used car retailers rose nearly 3% to outperform their performance behind the Oppenheimer upgrade. Investment banks have said Carvana’s “business model is now “humming,” generating meaningful cash,” expanding industry demand trends and capitalising. Charter Communications – Cable Operator’s stock fell almost 13% as its latest finances did not exceed expectations. Charter Communications recorded inline revenue of $13.77 billion, meeting analysts’ second quarter estimates surveyed by FactSet. Adjusted revenue prior to interest, tax, depreciation, amortization or EBITDA dragged a $5.7 billion forecast by analysts, according to Factset. -CNBC’s Alex Harring contributed the report.
Stocks with the biggest movement in stock: Intel, Centene, etc.
