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Matt Phillips7/24/25

Intel dips on Q2 report, positive sales forecast

Intel rose in the after-hours session Thursday after it reported a sixth straight quarterly loss that was much deeper than Wall Street analysts had expected, but offered a better-than-expected sales forecast for Q3 and plans to cut headcount by roughly 15%.

The ailing American semiconductor icon reported an adjusted Q2 loss of $0.10 a share, which excludes the impact of some $1.9 billion in restructuring charges.

Sales of $12.86 billion were higher than the $11.97 billion in revenue expected by analysts, FactSet data shows.

Intel offered stronger-than-expected guidance for Q3 sales. The chipmaker said it expected sales of between $12.6 billion and $13.6 billion, above the $12.66 billion that Wall Street analysts had penciled in for Q3 sales, according to FactSet. At the same time, the semiconductor giant’s forecast said that adjusted Q3 earnings per share would be flat, while analysts were looking for $0.04.

In a separate statement, Intel’s new CEO, Lip-Bu Tan, offered a strategic update on the direction of the company, announcing that Intel would abandon manufacturing projects in Poland and Germany as it seeks to course-correct for a manufacturing base that had become “needlessly fragmented and underutilized.”

Tan emphasized that the company intended to take a more disciplined approach to production decisions. “There are no more blank checks,” he said. “Every investment must make economic sense.”

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Max Knoblauch1m

Florida-based construction company surges on $1.5 billion merger with drone maker Xtend in pact backed by Eric Trump

Florida-based construction company JFB Construction Holdings climbed 14% in premarket trading on Tuesday following an announcement that it will merge with Israeli drone maker Xtend in a $1.5 billion deal.

The shares were halted for news pending Tuesday morning, per a Bloomberg trading notice.

JFB said the deal is backed by investments from Eric Trump. Unusual Machines, a drone tech company linked to Donald Trump Jr., is also listed as a strategic investor.

Xtend has marketed some of its drone products as “low cost‑per‑kill” and in November announced it won a multimillion-dollar Pentagon contract.

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ServiceNow CEO steps up with $3 million stock purchase announcement as executives cancel stock-selling plans

ServiceNow’s executives have banded together to try to restore confidence in the struggling software company’s stock.

A filing released this morning showed CEO Bill McDermott entered into an agreement to purchase $3 million in company stock on February 27.

In addition, the CEO, CFO Gina Mastantuono, and three other executives ended their 10b5-1 trading plans (in which company stock is typically divested by an insider’s broker according to a preset schedule).

Shares are up about 3% in early trading.

ServiceNow was one of many software stocks to struggle this earnings season despite reporting better-than-expected results and rosy near-term guidance, as investors worry about the potential for industry-wide disruption by AI tools.

McDermott had attributed the slide in the stock to acquisitions announced in December. During the conference call following the company’s Q1 earnings report in late January, he told investors, “The worry is gone, you can give us back the market cap.”

Fund managers fretting over Corporate America’s “overinvestment” are only worried about one thing

Being concerned about “overinvestment” is really a very narrow statement about worries over hyperscalers’ ROI.

Close up of Frightened Woman's Face

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Netflix has granted Warner Bros. a 7-day waiver to resume deal talks with Paramount to hear out its best and final offer

Warner Bros. Disney will resume talks with Paramount Skydance to hear out its best and final offer after Netflix granted a limited weeklong waiver, according to a statement released Tuesday morning.

The Warner Bros. Discovery board, per the statement, continues to unanimously back the merger with Netflix, while the streamer will retain its rights to match or exceed any forthcoming offer from Paramount. This fresh negotiation period ends on February 23.

Shares of Warner Bros. Discovery rose on the news, up 2.6% as of 7:46 a.m. ET. Netflix shares also gained about 1% following the press release — suggesting that investors think the streaming giant might be overpaying at the originally agreed-upon price, and that losing out to Paramount could be a blessing in disguise.

Warner Bros. Discovery also confirmed that a Paramount representative told the company it would be willing to pay $31 per share “pending engagement” — that would be up about 3% from the current $30-per-share offer and also doesn’t constitute PSKY’s “best and final” proposal, per the representative.

The headline offer price had, up until now, proved a sticking point for both sides of the Paramount/Warner deal, while a clause covering the $2.8 billion breakup fee with Netflix in PSKY’s most recent offer could also prove enticing.

WBD shareholders will vote on the proposed Netflix merger on March 20. Interestingly, though the WBD board continues to “unanimously recommend” taking the Netflix deal, some prediction markets have now swung to place Paramount as the favorite in the acquisition battle.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Warner Bros. Discovery Agrees to Engage With Paramount in Sales Talks, but for Now Still Backs Netflix Deal as It Sets March 20 Shareholder Vote

Warner Bros. Discovery Agrees to Engage With Paramount in Sales Talks, but for Now Still Backs Netflix Deal as It Sets March 20 Shareholder Vote

Shares of Warner Bros. Discovery rose on the news, up 2.6% as of 7:46 a.m. ET. Netflix shares also gained about 1% following the press release — suggesting that investors think the streaming giant might be overpaying at the originally agreed-upon price, and that losing out to Paramount could be a blessing in disguise.

Warner Bros. Discovery also confirmed that a Paramount representative told the company it would be willing to pay $31 per share “pending engagement” — that would be up about 3% from the current $30-per-share offer and also doesn’t constitute PSKY’s “best and final” proposal, per the representative.

The headline offer price had, up until now, proved a sticking point for both sides of the Paramount/Warner deal, while a clause covering the $2.8 billion breakup fee with Netflix in PSKY’s most recent offer could also prove enticing.

WBD shareholders will vote on the proposed Netflix merger on March 20. Interestingly, though the WBD board continues to “unanimously recommend” taking the Netflix deal, some prediction markets have now swung to place Paramount as the favorite in the acquisition battle.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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Claire Yubin Oh3h

Norwegian Cruise Line jumps after the WSJ reports that activist Elliott has built a more than 10% stake in the company

Norwegian Cruise Line rose as much as ~12% in premarket trading on Tuesday after The Wall Street Journal reported that Elliott Investment Management has built a more than 10% stake in the company and plans to push for a turnaround at the cruise operator.

Citing people familiar with the matter, the Journal detailed that the activist hedge fund aims to engage with the company to “try to help fix its underperformance” and “make changes to catch up to its rivals.” Per the report, Elliott also privately approached Adam Goldstein, the former president and COO of competitor Royal Caribbean — a company that Elliott sees as having been successfully improving its financial performance and guest experience — as a potential board member nominee for the company.

Indeed, NCLH has seen its stock drop more than 20% in the past year, lagging behind rivals like Royal Caribbean, which is projecting strong demand for the full year driven by affluent customer demand.

Last Thursday, Norwegian appointed former Subway CEO John Chidsey as its new chief executive. Shares fell more than 7% on Friday after the late evening news.

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