Intel Stock (NASDAQ:INTC), Trade Ideas

Intel

Intel is a leading digital chipmaker, focused on the design and manufacturing of microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors and was the prime proponent of Moore's law for advances in semiconductor manufacturing. Intel remains the market share leader in central processing units in both the PC and server end markets. Intel has also been expanding into new adjacencies, such as communications infrastructure, automotive, and the Internet of Things. Further, Intel expects to leverage its chip manufacturing capabilities into an outsourced foundry model where it constructs chips for others.

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&#34;Intel is back,&#34; CEO Pat Gelsinger proclaims. But some analysts, like those at Oppenheimer, &#34;remain on sidelines&#34; due to weak demand

Intel &#39;Still A Work In Progress&#39; As &#39;Turnaround Efforts Take Root,&#39; Analysts Say After Q1 Disappointment

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Why Aon Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

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Strong earnings reports from Alphabet Inc. (NASDAQ:GOOGL) and Microsoft Corp. (NASDAQ:MSFT) have restored positive sentiment in the market, sweeping away fears of increasing risks of stagflation that had 

Tech Stocks Rebound As Magnificent 7 Roar On Strong Earnings, Energy Giants Tumble: What&#39;s Driving Markets Friday?

Intel Corp

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Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) stock fell after reporting a first-quarter (Q1) revenue miss and weak <a href="https://www.benzinga.com/quote/INTC/guidance">Q2 EPS guidance</a>.
The company&#8217;s quarterly earnings of 18 cents per share beat the consensus estimate by 28.57%. However, sales of $12.72 billion missed estimates by 0.44%.
Related: <a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">Intel Shares Fall On Q1 Revenue Miss, Weak Q2 EPS Guidance</a>
CEO Pat Gelsinger remains confident in company&#8217;s future, proclaiming &#8220;Intel is back.&#8221;
Here's what analysts have to say about the earnings report.
<ul>
<li>JPMorgan Chase analyst Harlan Sur reiterated Underweight on Intel stock, reducing the price target from $37 to $35 a share.</li>
<li>Goldman Sachs analyst Toshiya Hari maintains his Sell rating on the stock, reducing the price target from $39 to $34.</li>
<li>Oppenheimer analyst Rick Schafer maintained his Perform rating on the stock without stating a price target.</li>
<li>Needham analyst N. Quinn Bolton, CFA reiterated Hold with no price target on the stock.</li>
<li>Wedbush analyst Matt Bryson rates the stock Neutral with his 12-month price target on the stock down from $40 to $32.50 a share.</li>
<li>BofA Securities analyst Vivek Arya reiterated his Neutral rating on the stock, while lowering price target from $44 to $40.</li>
<li>Mizuho Securities analyst Vijay Rakesh rates the stock a Buy with price target lowered from $55 to $45 a share.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/news/24/04/38447614/intel-ceo-said-foundry-business-will-see-sequential-improvement-in-every-quarter-till-2030-conf-call">Intel CEO Said Foundry Business Will See Sequential Improvement In Every Quarter Till 2030- Conf Call</a>
JPMorgan: According to Sur, Intel&#8217;s guidance suggests a slow recovery for PC and data center segments, requiring a strong second half for full-year outlook. There appear to be confidence issues in core compute and diversification initiatives. 
Customer foundry revenue was lower than expected in Q1, but product and technology pipeline remains strong. The company&#8217;s roadmap milestones are on track, with new products like Sierra Forest and Granite Rapids ramping up. Overall, while 2Q guidance is muted, there is optimism for a gradual recovery in general compute demand but Intel &#8220;will be an underperformer relative to the group over the next 12-18 months,&#8221; Sur says.
Goldman Sachs: Intel&#8217;s 2Q24 revenue and non-GAAP EPS guidance were lower than expected, attributed to the delayed recovery in traditional server demand now expected in H2. This delay is due to Cloud and Enterprise customers prioritizing AI infrastructure spending. &#8220;AI prioritization continues to weigh on traditional server demand&#8221; said Hari.
Goldman Sachs remains &#8220;encouraged by Intel's progress in Accelerating Computing&#8221;, particularly with the launch of Gaudi3. However, it faces challenges in maintaining its share in the Data Center Compute market against competitors like Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Arm Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>).
Oppenheimer: &#8220;We remain on sidelines as turnaround efforts take root,&#8221; said Schafer. He attributed Intel&#8217;s weaker Q1 performance to weaker demand and the sunsetting of non-core and traditional packaging. 
Management sees Q1 as the bottom, expecting quarter-over-quarter growth throughout the year. PC and data center (DC) sales are expected to be flat in Q2, with DC leading in the second half due to the ramp of the Gaudi3 accelerator and cyclical recovery in other segments. 
DC is expected to be up about 25% this year. Despite optimism, Intel&#8217;s roadmap and technology leadership are concerns for Schafer. While constructive on the data center outlook, caution remains regarding PC unit growth.
Needham: Bolton&#8217;s Hold rating is due to Intel&#8217;s high valuation, declining revenue estimates, growing competition, and distant IFS revenue contributions, &#8220;all setting up for a more difficult road ahead&#8220;. 
Intel faces challenges in the data center market, said Bolton, with wallet share shifting to AI-compute and competition from new architectures like ARM-based CPUs and evolving ASICs. While losses in Desktop and Notebook share have slowed, positive PC trends are insufficient to support INTC&#8217;s CY24 PC unit TAM.
Wedbush: Intel Corp is &#8220;still a work in progress,&#8221; said Bryson. He notes that Intel&#8217;s guidance for >$500M in Habana sales in 2H&#8217;24 was below expectations, despite prior commentary suggesting a larger backlog and increased AI accelerator spending. 
While Sierra Forrest and Granite Rapids are on track for release, Bryson sees their impact on Intel&#8217;s share and revenues being modest. Additionally, Meteor Lake experienced increased demand in CQ1, with units expected to double in CQ2, but supply constraints are hindering Intel&#8217;s ability to meet this demand as it ramps up wafer level assembly.
Wedbush also thinks &#8220;the recent pessimism weighing on the stock is arguably overdone.&#8221; But, analysts &#8220;still aren&#8217;t comfortable yet in getting more constructive around Intel.&#8221;
BofA Securities: Arya noted &#8220;higher costs, lower growth, tough competition,&#8221; as three key attributes identifiable with Intel&#8217;s Q1 earnings report and future outlook.
Intel&#8217;s Q1 earnings met expectations, but Q2 guidance disappointed due to high costs. While Arya sees the company&#8217;s strong enterprise position and US manufacturing assets offering potential, limited AI exposure could hamper growth. Q2 sales missed targets amid weak macro demand. 
However, Intel anticipates a strong second half driven by cyclical improvements, AI PC growth, and positive enterprise trends. The company is focusing on the Gaudi3 ramp, CHIPS grants, and cost reductions to improve profitability. Challenges include losing server market share and competition in AI accelerators. Arya sees Intel&#8217;s future success depending on leveraging manufacturing synergies and managing competition from Taiwan Semiconductor Manufacturing Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
Mizuho Securities: &#8220;We remain positive on INTC given stable compute server share, Sierra Forest and Granite Rapids product ramps ahead, and valuation with low expectations,&#8221; said Rakesh.
According to Rakesh, Intel&#8217;s data-centric AI (DCAI) segment remains flat as the company plays catch-up with peers, with the Gaudi3 ramp in 2H expected to contribute but still at a small scale. 
Intel&#8217;s data center (DC) is estimated to grow by 4% y/y in 2024, compared to Nvidia&#8217;s consensus estimate of 102% y/y growth. 
Intel is ramping its foundry business, adding external customers and anticipating margins to trough in 2024 before a stronger ramp in 2025. Despite a disappointing June quarter guide, Rakesh believes new product ramps and stable server share, combined with low expectations, could limit downside as Intel trades at a lower P/S multiple compared to Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Nvidia.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/04/38467013/tech-stocks-rebound-as-magnificent-7-roar-on-strong-earnings-energy-giants-tumble-wh">Tech Stocks Rebound As Magnificent 7 Roar On Strong Earnings, Energy Giants Tumble: What&#8217;s Driving Markets Friday?</a>
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Intel 'Still A Work In Progress' As 'Turnaround Efforts Take Root,' Analysts Say After Q1 Disappointment

Apollo, KKR, Stonepeak Consider Investment In Intel Chip Joint Venture

Wells Fargo analyst Aaron Rakers maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Equal-Weight and lowers the price target from $43 to $38.

Price Target

Wells Fargo Maintains Equal-Weight on Intel, Lowers Price Target to $38

Shares of Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) fell sharply during Friday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/AON/earnings">quarterly financial results</a>.
Aon posted adjusted earnings of $5.66 per share, missing market estimates of $5.91 per share. The company's sales came in at $4.070 billion versus expectations of $4.126 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Aon shares dipped 7.4% to $283.19 on Friday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Biodexa Pharmaceuticals Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDRX#NASDAQ">BDRX</a>) shares jumped 73.3% to $1.2475 after the company entered an exclusive license agreement with Rapamycin Holdings for the rights to eRapa.</li>
<li>Pineapple Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) gained 63% to $0.0845.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares gained 55% to $2.01 after dipping 16% on Thursday.</li>
<li>Universal Logistics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULH#NASDAQ">ULH</a>) surged 45.2% to $47.76 after the company reported better-than-expected first-quarter financial results.</li>
<li>Focus Universal Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCUV#NASDAQ">FCUV</a>) jumped 40% to $0.3967 after the company announced board approval for the spin-off of Lusher.</li>
<li>BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) gained 37% to $2.68.</li>
<li>Concord Medical Services Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCM#NYSE">CCM</a>) gained 29% to $0.6502. Concord Medical filed 2023 annual report on Form 20-F.</li>
<li>Exponent, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPO#NASDAQ">EXPO</a>) shares climbed 28.5% to $102.41 after the company reported better-than-expected first-quarter financial results.</li>
<li>Skillsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKIL#NYSE">SKIL</a>) climbed 26.4% to $8.60.</li>
<li>MultiMetaVerse Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMV#NASDAQ">MMV</a>) gained 24.2% to $0.61.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) gained 23% to $14.02 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company reported a year-over-year increase in quarterly daily active users.</li>
<li>Tutor Perini Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPC#NYSE">TPC</a>) surged 22.2% to $16.98 after the company reported better-than-expected first-quarter financial results and issued FY24 EPS guidance.</li>
<li>Sunshine Biopharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFM#NASDAQ">SBFM</a>) surged 22.2% to $0.9888.</li>
<li>U.S. Silica Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLCA#NYSE">SLCA</a>) gained 20% to $15.67 after the company reported first-quarter financial results and entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo.</li>
<li>Earlyworks Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELWS#NASDAQ">ELWS</a>) rose 19.7% to $0.8725 after gaining 19% on Thursday.</li>
<li>Cullinan Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGEM#NASDAQ">CGEM</a>) surged 19.5% to $23.03.</li>
<li>Tevogen Bio Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVGN#NASDAQ">TVGN</a>) shares gained 19.3% to $1.0150 after falling over 43% on Thursday.</li>
<li>ATRenew Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NASDAQ">RERE</a>) surged 18.9% to $1.9150. ATRenew announced appointment of new director.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) gained 17.5% to $13.39.</li>
<li>Freight Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRGT#NASDAQ">FRGT</a>) climbed 17% to $1.0702 after gaining 5% on Thursday.</li>
<li>Skechers U.S.A., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) shares gained 16% to $68.20 after the company reported better-than-expected first-quarter FY24 earnings.</li>
<li>AppFolio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPF#NASDAQ">APPF</a>) surged 16% to $251.22 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance above estimates.</li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) gained 15% to $7.97 after the company reported better than expected first-quarter earnings and issued guidance.</li>
<li>ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) shares rose 13.7% to $208.63 after the company reported better-than-expected third-quarter financial results.</li>
<li>Rogers Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROG#NYSE">ROG</a>) surged 12.7% to $123.46 after the company beat first-quarter EPS and sales estimates.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) gained 11.3% to $7.92</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) rose 10.6% to $172.52 the company posted upbeat results for its first quarter. Alphabet's board authorized an additional share repurchase program of up to $70 billion and also announced its first-ever quarterly dividend.</li>
<li>Kratos Defense &amp; Security Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>) gained 8.8% to $18.80 after Raymond James upgraded the stock from Outperform to Strong Buy and raised its price target from $20 to $27.</li>
<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) climbed 8.6% to $174.20 following second-quarter results.</li>
<li>Kintara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>) shares gained 8.4% to $0.8725 after gaining 15% on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>iClick Interactive Asia Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLK#NASDAQ">ICLK</a>) shares fell 48.8% to $1.31 after the company announced the termination of its merger agreement.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) fell 46.7% to $0.1540 after the company reported pricing of $2.7 million public offering.</li>
<li>Safe &amp; Green Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) fell 27.7% to $0.1584.</li>
<li>E-Home Household Service Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EJH#NASDAQ">EJH</a>) dipped 25.3% to $0.5752.</li>
<li>Nature Wood Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWGL#NASDAQ">NWGL</a>) fell 24.5% to $12.71.</li>
<li>IMAC Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BACK#NASDAQ">BACK</a>) dipped 22.9% to $3.93.</li>
<li>reAlpha Tech Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRE#NASDAQ">AIRE</a>) fell 20.8% to $1.10.</li>
<li>ZyVersa Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVSA#NASDAQ">ZVSA</a>) fell 19.3% to $4.84.</li>
<li>Saia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) dipped 19.1% to $439.40 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Kinsale Capital Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNSL#NYSE">KNSL</a>) fell 17.3% to $374.29 following first-quarter results.</li>
<li>Aclarion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACON#NASDAQ">ACON</a>) fell 15.5% to $0.3319. Aclarion shares jumped 36% on Thursday after the company announced that its Nociscan solution will be used in the upcoming LIFEHAB trial evaluating the diagnosis and treatment of chronic low back pain.</li>
<li>Oil States International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIS#NYSE">OIS</a>) fell 15% to $4.5250 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) shares declined 14.8% to $53.55 after the company reported worse-than-expected first-quarter adjusted EPS results.</li>
<li>Avenue Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXI#NASDAQ">ATXI</a>) fell 13.5% to $7.59.</li>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) fell 12.7% to $0.2260 after dipping 39% on Thursday. Chicken Soup For The Soul Entertainment received delinquency letter from the Nasdaq.</li>
<li>TriNet Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNET#NYSE">TNET</a>) fell 11.5% to $112.11 after the company reported worse-than-expected first-quarter results and issued weak guidance.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares fell 11.1% to $31.23 after the company reported worse-than-expected first-quarter sales results and issued EPS guidance below estimates.</li>
<li>Accolade, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) dipped 10.6% to $8.22 following quarterly results.</li>
<li>XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) fell 10.2% to $106.14.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) shares fell 9.4% to $179.76 after the company reported third-quarter financial results. Atlassian said Scott Farquhar has decided to step down from his role as co-CEO, effective Aug. 31. Cannon-Brookes will continue to lead Atlassian as CEO.</li>
<li>Vincerx Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINC#NASDAQ">VINC</a>) shares fell 8.8% to $0.8180 after the company announced pricing of underwritten public offering of common stock and warrants.</li>
<li>SCWorx Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WORX#NASDAQ">WORX</a>) fell 8.7% to $2.52 after surging 36% on Thursday.   </li>
<li>ACM Research, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACMR#NASDAQ">ACMR</a>) fell 8.3% to $25.94 after announcing preliminary unaudited revenue and shipments for the first quarter.</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) shares fell 8.2% to $57.63 after the company reported first-quarter financial results.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) fell 7.8% to $2.52. Processa Pharmaceuticals shares jumped 50% on Thursday after HC Wainwright &amp; Co initiated coverage on the stock with a Buy rating and announced an $8 price target.</li>
<li>Red Rock Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRR#NASDAQ">RRR</a>) dipped 7.4% to $54.83.</li>
<li>ArcBest Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) declined 7.3% to $128.07.</li>
<li>Allison Transmission Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALSN#NYSE">ALSN</a>) fell 6.6% to $74.97 following first-quarter results.</li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) fell 6.2% to $184.41.</li>
<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) shares declined 6.3% to $129.17 after the company reported first-quarter financial results.</li>
<li>Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) fell 4% to $116.44 following weak earnings.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38459594/how-to-earn-500-a-month-from-dominos-pizza-stock-ahead-of-q1-earnings">How To Earn $500 A Month From Domino&#8217;s Pizza Stock Ahead Of Q1 Earnings</a>

Why Aon Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Friday's Mid-Day Session

Strong earnings reports from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) have restored positive sentiment in the market, sweeping away fears of increasing risks of stagflation that had <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">emerged from Thursday&#8217;s data.</a>
Although the latest PCE inflation report signaled higher-than-expected annual readings, they failed to meaningfully impact on already low expectations <a href="https://www.benzinga.com/general/macro-notification/24/04/38458581/feds-key-inflation-indicator-hits-2-8-dashes-rate-cut-hopes-traders-on-alert">for Fed rate cuts.</a> Rather, investors opted to focus on positive signals stemming from corporate earnings.
The S&amp;P 500 gained over 1%, and is up by 2.8% this week, on track for its best week since late October 2023. The Nasdaq 100 outperformed with a 1.8% increase, pushing the weekly performance to over 4%, also eyeing its best week in seven months.
A significant amount of support for the broader market came from the Magnificent Seven, with the group gaining a combined market cap of $400 billion in a day, more than offsetting losses seen on Thursday. The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) rallied 3.5%.
Small caps also saw robust gains, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) up 1%. The big underperformer was the energy sector, as its two major oil giants – Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) – failed to impress investors <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">with their quarterly results.</a>
Treasury yields were slightly softer, although remained at elevated levels, indicating they had already absorbed the rising inflation narrative over the past weeks. 
Both gold and oil held steady at $2,300 per ounce and $83 a barrel, respectively. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) softened below $64,000, on track for a fourth straight negative week.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,751.35</td>
<td>1.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,107.36</td>
<td>1.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,003.71</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,287.77</td>
<td>0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $509.49, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $383.06 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.8% to $431.95, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 2.6%, followed by the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>), both up 1.5% The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 1.1%. 
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Alphabet Inc. soared by 10% after a double beat in both earnings and revenue estimates last quarter. Shares are on track to their strongest performing <a href="https://www.benzinga.com/news/24/04/38458188/why-alphabet-shares-are-trading-higher-by-12-here-are-20-stocks-moving-premarket">day since July 2019. </a></li>
<li>Microsoft Corp. rose 2.5% after reporting <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38465071/microsoft-q3-shines-light-on-ai-innovation-cycle-analysts-see-plenty-of-runway-for-">better-than-expected results last quarter</a>. </li>
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) rose 4% amid bullish speculations over next week&#8217;s earnings report. </li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rose 6%, bolstered by rising expectations for AI spending and fueling a widespread rally in chipmakers. </li>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) tanked 10%, sharply underperforming compared to industry peers, on a Q1 revenue miss. </li>
<li>Other companies reacting to earnings were Exxon Mobil, down nearly 3%, Chevron Corp, down 0.2%, AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), down over 5%, HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>), down over 3%, Colgate-Palmolive Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), up 1.6%, Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), down 3.7%, AON plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>), down over 8%, LyondellBasell Industries NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>), up 2.6%, Ball Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALL#NYSE">BALL</a>), up 7.6%, Avantor Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>), down 4%, Saia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>), down 20%, Autoliv Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>), up 5%, KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLA#NASDAQ">KLA</a>), up 5%, Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), up 0.5% and Snap Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NASDAQ">SNAP</a>), up 30%. </li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38465570/snap-investors-celebrate-q1-earnings-but-analysts-arent-ready-to-party-just-yet-the">Snap Investors Celebrate Q1 Earnings, But Analysts Aren&#8217;t Ready To Party Just Yet: &#8216;The Most Expensive Name In Social&#8217;</a>
Image generated using artificial intelligence via Midjourney.

Tech Stocks Rebound As Magnificent 7 Roar On Strong Earnings, Energy Giants Tumble: What's Driving Markets Friday?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$880.00</td>
<td>$34.6K</td>
<td>10.4K</td>
<td>64.0K</td>
</tr>
<tr>
<td>AAPL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$170.00</td>
<td>$32.8K</td>
<td>9.8K</td>
<td>44.4K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$850.00</td>
<td>$26.0K</td>
<td>2.0K</td>
<td>16.1K</td>
</tr>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$140.00</td>
<td>$26.7K</td>
<td>22.7K</td>
<td>8.8K</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$23.00</td>
<td>$72.8K</td>
<td>12.8K</td>
<td>8.1K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$19.00</td>
<td>$58.5K</td>
<td>1.8K</td>
<td>4.8K</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$34.00</td>
<td>$51.1K</td>
<td>1.4K</td>
<td>3.2K</td>
</tr>
<tr>
<td>MRVL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$70.00</td>
<td>$148.5K</td>
<td>7.7K</td>
<td>2.9K</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$111.00</td>
<td>$27.3K</td>
<td>1.2K</td>
<td>2.7K</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$155.00</td>
<td>$25.7K</td>
<td>5.6K</td>
<td>2.0K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be neutral, is expiring today. Parties traded 52 contract(s) at a $880.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $34.6K, with a price of $669.0 per contract. There were 10428 open contracts at this strike prior to today, and today 64059 contract(s) were bought and sold. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a put option trade that happens to be bearish, is expiring today. Parties traded 820 contract(s) at a $170.00 strike. The total cost received by the writing party (or parties) was $32.8K, with a price of $40.0 per contract. There were 9859 open contracts at this strike prior to today, and today 44416 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option trade that happens to be bearish, is expiring today. Parties traded 20 contract(s) at a $850.00 strike. The total cost received by the writing party (or parties) was $26.0K, with a price of $1300.0 per contract. There were 2095 open contracts at this strike prior to today, and today 16144 contract(s) were bought and sold. 
• Regarding TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we observe a call option trade with bullish sentiment. It expires in 56 day(s) on June 21, 2024. Parties traded 39 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $26.7K, with a price of $685.0 per contract. There were 22727 open contracts at this strike prior to today, and today 8837 contract(s) were bought and sold. 
• Regarding RIOT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), we observe a call option sweep with bearish sentiment. It expires in 21 day(s) on May 17, 2024. Parties traded 8000 contract(s) at a $23.00 strike. This particular call needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $72.8K, with a price of $9.0 per contract. There were 12819 open contracts at this strike prior to today, and today 8111 contract(s) were bought and sold. 
• Regarding MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we observe a call option trade with bearish sentiment. It expires in 7 day(s) on May 3, 2024. Parties traded 398 contract(s) at a $19.00 strike. The total cost received by the writing party (or parties) was $58.5K, with a price of $147.0 per contract. There were 1881 open contracts at this strike prior to today, and today 4802 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a call option sweep with bearish sentiment. It expires in 84 day(s) on July 19, 2024. Parties traded 430 contract(s) at a $34.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $51.1K, with a price of $119.0 per contract. There were 1493 open contracts at this strike prior to today, and today 3226 contract(s) were bought and sold. 
• For MRVL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), we notice a call option sweep that happens to be bullish, expiring in 7 day(s) on May 3, 2024. This event was a transfer of 940 contract(s) at a $70.00 strike. This particular call needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $148.5K, with a price of $158.0 per contract. There were 7751 open contracts at this strike prior to today, and today 2974 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a call option sweep that happens to be bearish, is expiring today. Parties traded 74 contract(s) at a $111.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $27.3K, with a price of $370.0 per contract. There were 1291 open contracts at this strike prior to today, and today 2740 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a put option sweep that happens to be bearish, expiring in 7 day(s) on May 3, 2024. This event was a transfer of 50 contract(s) at a $155.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.7K, with a price of $515.0 per contract. There were 5673 open contracts at this strike prior to today, and today 2066 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AAPL

MARA

MRVL

RIOT

SMCI

10 Information Technology Stocks With Whale Alerts In Today's Session

TD Cowen analyst Matthew Ramsay maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Hold and lowers the price target from $42 to $35.

TD Cowen Maintains Hold on Intel, Lowers Price Target to $35

<h3>Gainers</h3>
<ul>
<li>Focus Universal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCUV#NASDAQ">FCUV</a>) stock increased by 36.0% to $0.38 during Friday's regular session. The market value of their outstanding shares is at $24.9 million. </li>
<li>Infobird Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IFBD#NASDAQ">IFBD</a>) shares increased by 28.45% to $4.74. The market value of their outstanding shares is at $6.3 million. </li>
<li>Maxeon Solar Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) stock rose 19.38% to $2.12. The market value of their outstanding shares is at $112.1 million. </li>
<li>Rubicon Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBT#NYSE">RBT</a>) stock rose 12.59% to $0.44. The company's market cap stands at $23.1 million. </li>
<li>Kingsoft Cloud Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) stock rose 12.47% to $3.23. The market value of their outstanding shares is at $818.9 million. </li>
<li>Mobix Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOBX#NASDAQ">MOBX</a>) stock rose 12.21% to $2.94. The market value of their outstanding shares is at $75.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>ReAlpha Tech Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRE#NASDAQ">AIRE</a>) stock declined by 18.0% to $1.14 during Friday's regular session. The market value of their outstanding shares is at $50.3 million. </li>
<li>Atomera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATOM#NASDAQ">ATOM</a>) stock decreased by 17.6% to $4.42. The company's market cap stands at $119.0 million. As per the news, the Q1 earnings report came out yesterday. </li>
<li>MMTEC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) stock declined by 12.07% to $2.77. The company's market cap stands at $551.6 million. </li>
<li>Strong Global (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SGE#AMEX">SGE</a>) shares fell 10.0% to $1.08. The company's market cap stands at $8.5 million. </li>
<li>BIT Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>) stock decreased by 9.97% to $2.62. The company's market cap stands at $29.1 million. </li>
<li>Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) stock fell 9.63% to $31.73. The company's market cap stands at $135.0 billion. The company's, Q1 earnings came out yesterday. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ATOM

BTCM

IFBD

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

MOBX

12 Information Technology Stocks Moving In Friday's Intraday Session

Roth MKM analyst Suji Desilva maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Neutral and lowers the price target from $45 to $35.

Roth MKM Maintains Neutral on Intel, Lowers Price Target to $35

Truist Securities analyst William Stein maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Hold and lowers the price target from $45 to $33.

Truist Securities Maintains Hold on Intel, Lowers Price Target to $33

Susquehanna analyst Christopher Rolland maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Neutral and lowers the price target from $40 to $35.

Susquehanna Maintains Neutral on Intel, Lowers Price Target to $35

Barclays analyst Ryan Macwilliams maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Equal-Weight and lowers the price target from $44 to $40.

Barclays Maintains Equal-Weight on Intel, Lowers Price Target to $40

<ul>
<li>TSLA</li>
<li>NVDA</li>
<li>MSFT</li>
<li>INTC</li>
<li>GOOG</li>
<li>META</li>
<li>GOOGL</li>
<li>AAPL</li>
<li>SNAP</li>
<li>AI</li>
</ul>
<a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

Trading Ideas

TSLA

Top 10 Trending Stocks On WallStreetBets As Of April 26, 2024 (Via Swaggy Stocks)

Amid U.S. sanctions, Huawei Technologies Co. has managed to incorporate the latest version of its made-in-China processor in its <a href="https://www.benzinga.com/markets/equities/24/04/38308198/apples-falling-iphone-sales-have-another-challenge-to-deal-with-as-huawei-launches-new-phones">new Pura 70 series smartphones</a>.
What Happened: The Pura 70 series, unveiled last week, is powered by the Kirin 9010 processor, a more advanced version of the Kirin 9000s used in the <a href="https://www.benzinga.com/news/23/12/36174203/huawei-mate-60-pro-leads-chinas-charge-in-5g-tech-self-reliance">Mate 60 Pro</a>, according to a teardown analysis by consultancy TechInsights, <a href="https://bloomberg.com/news/articles/2024-04-26/huawei-s-new-phone-sports-latest-version-of-made-in-china-chip">reported</a> Bloomberg.
The Mate 60 Pro, released in August, had already raised eyebrows in Washington due to its 7-nanometer chip, which some officials believed was beyond China&#8217;s capabilities.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Despite this, Huawei has seen a strong resurgence, with the Pura 70 series selling out within two days of its launch.
See Also: <a href="https://www.benzinga.com/news/24/04/38426370/mark-zuckerberg-says-tens-of-millions-users-have-already-tried-meta-ai-and-people-are-asking-us-to-r">Mark Zuckerberg Says &#8216;Tens Of Millions&#8217; Users Have Already Tried Meta AI, And People Are &#8216;Asking Us To Release&#8230;Wherever They Are&#8217;</a>
With the U.S. considering additional sanctions to curb Huawei and China&#8217;s semiconductor ambitions, the release of the Pura 70 series, which has traditionally been known for its camera capabilities, could further challenge Apple Inc.&#8217;s iPhone in the Chinese market.
Why It Matters: The new Pura 70 series is part of Huawei&#8217;s ongoing resurgence in the high-end segment of the Chinese market, which has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381758/jim-cramer-weighs-in-after-iphone-sales-reportedly-plummet-19-in-china-in-q1-anothe">affecting Apple&#8217;s iPhone sales</a>.
It's not just Apple that has been impacted by Huawei's resurgence – Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have also had to adapt their <a href="https://www.benzinga.com/government/24/04/38267102/intel-and-nvidia-reveal-new-products-for-china-adapt-ai-chip-strategies-in-response-to-us-sanctions">AI chip strategies</a> for China in response to U.S. sanctions.
On its part, Intel <a href="https://www.benzinga.com/government/24/03/37630752/intel-and-amd-clash-over-huawei-chip-sales-highlighting-us-sanctions-and-market-dynamics">managed to navigate</a> these sanctions successfully, obtaining a license to supply Huawei with advanced processors for laptops. On the other hand, Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) criticized the move, citing unfairness.
Despite U.S. efforts to curb China&#8217;s technological development, companies like Huawei and Alibaba Gr Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) are <a href="https://www.benzinga.com/government/24/04/38140039/us-embargo-on-nvidia-stings-hard-chinas-ai-development-lags-peers-alibabas-joe-tsai-reveals">continuing to innovate</a> and compete on the global stage.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453639/another-picasso-like-performance-top-tech-analyst-praises-satya-nadella-says-micros">&#8216;Another Picasso-Like Performance:&#8217; Top Tech Analyst Praises Satya Nadella, Says Microsoft Is Top &#8216;AI Draft Pick&#8217; With 20% Rally In Store</a>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Global

BABA

As US Tightens Screws On Nvidia, Intel Chip Exports To China, Huawei's Latest Phone Uses Made-In-China Chipset

Wedbush analyst Matt Bryson maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Neutral and lowers the price target from $40 to $32.5.

Wedbush Maintains Neutral on Intel, Lowers Price Target to $32.5

Bernstein analyst Stacy Rasgon maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Market Perform and lowers the price target from $42 to $35.

Bernstein Maintains Market Perform on Intel, Lowers Price Target to $35

Morgan Stanley analyst Joseph Moore maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Equal-Weight and lowers the price target from $48 to $36.

Morgan Stanley Maintains Equal-Weight on Intel, Lowers Price Target to $36

Evercore ISI Group analyst Mark Lipacis maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a In-Line and lowers the price target from $40 to $36.

Evercore ISI Group Maintains In-Line on Intel, Lowers Price Target to $36

Shares of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) rose sharply in today's pre-market trading the company posted upbeat <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">results for its first quarter</a>.
Google parent Alphabet said its first-quarter revenue increased 15% year-over-year to $80.539 billion, beating the consensus estimate of $78.594 billion. The company reported quarterly earnings of $1.89 per share, beating analyst estimates of $1.51 per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Alphabet's board authorized an additional share repurchase program of up to $70 billion and also announced its first-ever quarterly dividend.
Alphabet shares jumped 11.9% to $174.58 in pre-market trading.
Here are some other stocks moving in pre-market trading.
Gainers
<ul>
<li>Tevogen Bio Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVGN#NASDAQ">TVGN</a>) shares gained 64.7% to $1.40 in pre-market trading after falling over 43% on Thursday.</li>
<li>Pineapple Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) gained 40.5% to $0.0729 in pre-market trading.</li>
<li>Freight Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRGT#NASDAQ">FRGT</a>) climbed 32.4% to $1.21 in pre-market trading after gaining 5% on Thursday.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) gained 24.2% to $14.16 in pre-market trading after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company reported a year-over-year increase in quarterly daily active users.</li>
<li>Earlyworks Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELWS#NASDAQ">ELWS</a>) rose 20.7% to $0.88 in today's pre-market trading after gaining 19% on Thursday.</li>
<li>Kintara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>) shares gained 20.1% to $0.1898 in pre-market trading after gaining 15% on Thursday.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares gained 14.6% to $1.49 in pre-market trading after dipping 16% on Thursday.</li>
<li>ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) shares rose 11.5% to $204.50 in pre-market trading after the company reported better-than-expected third-quarter financial results.</li>
<li>Skechers U.S.A., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) shares gained 11% to $65.30 in pre-market trading after the company reported better-than-expected first-quarter financial results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Aclarion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACON#NASDAQ">ACON</a>) fell 19.5% to $0.3161 in pre-market trading. Aclarion shares jumped 36% on Thursday after the company announced that its Nociscan solution will be used in the upcoming LIFEHAB trial evaluating the diagnosis and treatment of chronic low back pain.</li>
<li>Vincerx Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINC#NASDAQ">VINC</a>) shares declined 16.4% to $0.75 in pre-market trading after the company announced pricing of underwritten public offering of common stock and warrants.</li>
<li>SCWorx Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WORX#NASDAQ">WORX</a>) fell 16.3% to $2.31 pre-market trading after surging 36% on Thursday.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) fell 15.4% to $2.05 in pre-market trading. Processa Pharmaceuticals shares jumped 50% on Thursday after HC Wainwright &amp; Co initiated coverage on the stock with a Buy rating and announced an $8 price target.</li>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) fell 13.9% to $0.2238 pre-market trading after dipping 39% on Thursday. Chicken Soup For The Soul Entertainment received delinquency letter from the Nasdaq.</li>
<li>Northann Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCL#NYSE">NCL</a>) shares fell 13.6% to $0.4015 in pre-market trading after dipping 12% on Thursday.</li>
<li>Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) shares declined 12.6% to $55.00 in pre-market trading after the company reported worse-than-expected first-quarter adjusted EPS results.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares fell 7.2% to $32.57 in pre-market trading after the company reported worse-than-expected first-quarter sales results and issued EPS guidance below estimates.</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) shares fell 5.8% to $4.41 in pre-market trading after dipping 19% on Thursday.</li>
<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) shares declined 5.3% to $130.70 in pre-market trading after the company reported first-quarter financial results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38452338/microsoft-alphabet-and-3-stocks-to-watch-heading-into-friday">Microsoft, Alphabet And 3 Stocks To Watch Heading Into Friday</a>

Pre-Market Outlook

Nuveen Insured California Premium Fund Ii

Why Alphabet Shares Are Trading Higher By 12%; Here Are 20 Stocks Moving Premarket

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Goldman Sachs raised the price target for Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) from $450 to $515. Goldman Sachs analyst Kash Rangan maintained a Buy rating. Microsoft shares fell 2.5% to close at $399.04 on Thursday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James boosted the price target for Kratos Defense &amp; Security Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>) from $20 to $27. Raymond James analyst Brian Gesuale upgraded the stock from Outperform to Strong Buy. Kratos Defense &amp; Security shares fell 2.8% to close at $17.28 on Thursday. <a href="https://www.benzinga.com/quote/KTOS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho lowered Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) price target from $55 to $45. Mizuho analyst Vijay Rakesh maintained a Buy rating. Intel shares rose 1.7% to close at $35.11 on Thursday. <a href="https://www.benzinga.com/quote/INTC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham raised the price target for Plexus Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLXS#NASDAQ">PLXS</a>) from $107 to $114. Needham analyst James Ricchiuti maintained a Buy rating. Plexus shares rose 3.6% to close at $99.09 on Thursday. <a href="https://www.benzinga.com/quote/PLXS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities cut Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) price target from $9 to $3. B of A Securities analyst John Babcock downgraded the stock from Neutral to Underperform. Hertz Global shares fell 19.3% to close at $4.68 on Thursday. <a href="https://www.benzinga.com/quote/HTZ/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup increased Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) price target from $168 to $190. Citigroup analyst Ronald Josey maintained a Buy rating. Alphabet shares fell 2% to close at $156.00 on Thursday. <a href="https://www.benzinga.com/quote/GOOGL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel raised the price target for Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) from $293 to $350. Stifel analyst Stanley Elliott downgraded the stock from Buy to Hold. Caterpillar shares fell 7% to close at $338.00 on Thursday. <a href="https://www.benzinga.com/quote/CAT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Oppenheimer raised Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) price target from $480 to $500. Oppenheimer analyst Ken Wong maintained an Outperform rating. Tyler Technologies shares rose 9.3% to close at $458.07 on Thursday. <a href="https://www.benzinga.com/quote/TYL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan boosted Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) price target from $55 to $61. JP Morgan analyst Jeffrey Zekauskas upgraded the stock from Neutral to Overweight. Dow shares fell 1% to close at $56.44 on Thursday. <a href="https://www.benzinga.com/quote/DOW/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird boosted Tractor Supply Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSCO#NASDAQ">TSCO</a>) price target from $260 to $285. Baird analyst Justin Kleber maintained an Outperform rating. Tractor Supply shares rose 2.8% to close at $265.26 on Thursday. <a href="https://www.benzinga.com/quote/TSCO/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/04/38454731/intel-reports-weak-sales-joins-boyd-gaming-atlassian-and-other-big-stocks-moving-lower-in-fridays-pr">Intel Reports Weak Sales, Joins Boyd Gaming, Atlassian And Other Big Stocks Moving Lower In Friday&#8217;s Pre-Market Session</a>

PLXS

TSCO

Microsoft To Rally Over 29%? Here Are 10 Top Analyst Forecasts For Friday

There's a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Microsoft (MSFT – Research Report) and Intel (INTC –...

Analysts Are Bullish on These Technology Stocks: Microsoft (MSFT), Intel (INTC)

HTZ, CYCC and WORX among pre-market losers

Intel slides as analysts bemoan lack of execution in AI, foundry

Super Micro Computer: Is There Upside Left?

Biggest stock movers today: ROKU, GOOG, MSFT, SNAP, and more

Mobileye sinks as Morgan Stanley downgrades, citing 'slowdown' in EV adoption

Intel stock are down well over 35% versus its YTD high at writing.

Intel Stock: Don't Hold Your Breath For A Swift Recovery

More than half of the S&P 500 names that reported results this week beat top and bottom line - Earnings Scorecard

16 out of 20 information technology stocks deliver EPS wins this week: Earnings Scorecard

Apollo, others consider investing in Intel joint venture: report

BRFH

CYCC

MBLY

QCOM

Press Releases

Infosys Topaz and Intel Collaborate to Accelerate Enterprise Growth and Efficiency with Generative AI

Mobileye Announces Timing of its First Quarter 2024 Results

Opinion

The Silent Revolution in Data Centers Driven by Artificial Intelligence

Intel Brings AI-Platform Innovation to Life at the Olympic Games

Mobileye EyeQ6 Lite Launches to Speed ADAS Upgrades Worldwide

Intel Builds World's Largest Neuromorphic System to Enable More Sustainable AI

Mobileye Releases First Quarter 2024 Results and Provides Business Overview

Intel Reports First-Quarter 2024 Financial Results

AVAI

INFY

Analog Devices

Astera Labs

Advanced Micro Devices, Inc. - Common Stock

Advanced Micro Devices

Arm Holdings plc - American Depositary Shares

ARM Holdings

ASE Technology Holding Co., Ltd. American Depositary Shares (each representing Two Common Shares)