TLDR
- Intel jumped 9% in premarket after Trump announced Apple will work with Intel to build chips in the US
- Rumble rose 17% after closing its acquisition of Northern Data AG and launching two new business units
- Smith & Wesson surged 14% after reporting a 27% year-over-year jump in net sales
- Accenture dropped 13.1% in early trading, leading the day’s losers
- S&P 500 futures rose 0.61% despite the Fed signaling possible rate hikes before year-end
Intel shares jumped 9% in premarket trading on Thursday after President Donald Trump posted on Truth Social that Apple will partner with Intel to develop and manufacture chips in the United States.
Apple currently relies on Taiwan-based TSMC for its most advanced chips. TSMC’s production lines are in high demand from AI chipmakers like Nvidia and AMD. An Apple contract would give Intel a steady, high-profile customer and help close the gap with TSMC in advanced manufacturing.
Intel Gets a Boost From Trump’s Announcement
Trump’s post did not include specific timelines or contract details. Still, investors responded quickly, pushing Intel shares higher ahead of the opening bell.
Intel has been working to rebuild its manufacturing business under a strategy to produce chips for outside customers. The Apple partnership, if it moves forward, would be a major win for that effort.
Rumble shares surged 17% after the company completed its acquisition of Northern Data AG. The deal brings two business units under one roof: Rumble, its video platform, and Quake AI, its cloud and AI infrastructure arm.
Rumble Rebrands, Northern Data Lifts Revenue Outlook
Northern Data raised its full-year revenue outlook by around 30%, now expecting between 170 and 190 million euros. The combined company will trade under the new RUM Group identity, effective June 18.
Smith & Wesson parent company reported strong fourth-quarter results. Net sales rose nearly 27% year over year. Adjusted earnings per share climbed nearly 77%, and cash from operations increased by about 34 million dollars compared to the prior year.
CEO Mark Smith said the company plans to invest in its Springfield facility during fiscal 2027. That will push capital spending higher than historical averages.
Spero Therapeutics rose 11% after the FDA approved its drug Utebzi for complicated urinary tract infections. The drug is the first oral carbapenem approved for this condition and was developed alongside GSK.
D-Wave Quantum gained 4% after announcing a new gate-model quantum computing simulator. The company says it will be the first of its kind built for error-aware programming.
On the losing side, Accenture fell 13.1% in early trading. Legend Biotech dropped 8% after pricing a public share offering at 29.35 dollars per ADS, raising about 226 million dollars. Steel Dynamics fell 3% after its Q2 earnings guidance came in well below analyst estimates, partly due to a 16 million dollar writedown tied to a facility relocation.
S&P 500 futures rose 0.61% as markets digested the Fed’s signal that rate hikes are still possible before year-end. The 10-year Treasury yield sat at 4.46%. Bitcoin dipped 0.58% to 63,878 dollars.
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