The tides of the U.S. stock market shifted this morning, Nasdaq futures ebbing by 0.2% as Wednesday dawned.
Intel Corporation’s stock, symbolized by the ticker INTC, took a sudden plunge in pre-market trading today. The precipitous drop followed the unveiling of a bold new financial blueprint for Intel’s foundry business.
In a move to bolster financial performance, Intel, after Tuesday’s market closure, introduced a fresh reporting architecture. This structure aims to foster stringent cost control, elevate returns, and nurture a culture of heightened accountability and transparency.
The price of Intel shares plummeted 4.8% to $41.85 in pre-market activity.
- Let’s take a closer look at some other major stocks experiencing a decline in today’s pre-market trading:
- Mesoblast Limited (MESO) saw its shares tumble by 13.1% to $5.73 in pre-market trading, following an 8% surge the day before.
- Fractyl Health, Inc. (GUTS) fell by 9.1% to $6.13 in pre-market activity, sliding further after a 10% drop on Tuesday. The company had recently secured FDA IDE approval for the Revita Remain-1 pivotal study and made a comeback post its Q4 financial report.
- Nikola Corporation (NKLA) saw a 7.3% decline to $0.9027 in pre-market trading after a 5% dip on Tuesday.
- Nuvation Bio Inc. (NUVB) observed a 5.8% fall to $3.25 in pre-market trading, following a more than 6% decrease the day before. Last week, Nuvation Bio welcomed Colleen Sjogren as their Chief Commercial Officer.
- Shinhan Financial Group Co., Ltd. (SHG) witnessed a 5.6% drop to $31.47 in pre-market trading.
- XPeng Inc. (XPEV) experienced a 3.2% decrease to $7.35 in pre-market trading. XPeng recently announced the delivery of 9,026 Smart EVs in March, marking a 99% rise from the month prior and a 29% increase year-over-year.
- Li Auto Inc. (LI) shares stumbled by 3% to $30.11 in pre-market trading. Li Auto disclosed a surge in March vehicle deliveries, totaling 28,984, a 39.2% jump from the previous year.
Now Check Out: Acuity Brands, Cal-Maine Foods, and 3 Stocks To Monitor as Wednesday Unfolds.
Remember to peruse our premarket analysis here.
