TLDR
- Intel and SK Hynix shares rose after reports of a potential U.S. memory chip partnership
- Crypto stocks including Coinbase, Robinhood, and Strategy fell after the Clarity Act failed a Senate vote
- J.B. Hunt Transport shares dropped 8.8% after its CFO projected a 5-10% profit decline next quarter
- Stock futures edged higher as investors awaited the Federal Reserve’s interest rate decision
- FTAI Aviation rose 2% after authorizing a new $500 million share repurchase program
Intel and SK Hynix shares jumped Wednesday morning after Reuters reported the two chipmakers discussed a potential memory chip manufacturing partnership in the United States.
Intel shares rose nearly 5% and SK Hynix added about 3% in premarket trading. Neither company confirmed the report to media outlets.
One scenario under discussion would have SK Hynix lease part of Intel’s planned Ohio chipmaking facility. Another option involves a joint venture with major cloud companies looking to secure memory supplies.
The Intel-SK Hynix Deal Talks
The discussions are still exploratory. No decisions have been made, and potential pushback from the South Korean government could complicate any deal, especially if advanced memory technologies like HBM or DRAM are part of the arrangement.
SK Hynix said it is reviewing options for additional production bases but that “no matters have been determined at this stage.”
Other chip stocks also moved higher Wednesday. Coherent, Corning, Dell, and Lumentum all gained in premarket trading.
This follows a rough stretch for chip stocks after analysts called for a slowdown in artificial intelligence development earlier in the week.
Stock futures were broadly higher Wednesday morning. Investors are waiting for the Federal Reserve’s interest rate decision and comments from Fed Chair Kevin Warsh on the policy outlook.
FTAI Aviation shares gained 2% after the company announced a new $500 million share repurchase program. The buybacks will be funded from cash on hand and run through September 30, 2029.
Vodafone shares fell about 2% after reports that the telecom company could face up to 1.27 billion dollars in earnings losses tied to the sale of a 50% stake in German broadband joint venture OXG Glasfaser.
Crypto Stocks Feel the Pressure
Crypto-linked stocks were lower Wednesday after the Clarity Act failed to advance in a Senate vote on Tuesday.
Coinbase, Robinhood, and Strategy all slipped. The stocks had already dropped Tuesday when the bill collapsed, and continued lower into Wednesday morning.
The Clarity Act was seen as a key piece of legislation for the digital asset industry. Its failure leaves regulatory uncertainty in place.
J.B. Hunt Transport Services was one of the biggest decliners Wednesday, falling 8.8%. CFO Brad Delco said he expects third-quarter profit to drop between 5% and 10% from the previous quarter due to higher costs.
That warning weighed heavily on the stock and stood out as one of the sharper single-stock moves of the morning.
Markets remain focused on the Fed decision later in the day and any signals from Chair Warsh about the path of interest rates into year-end.
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