- Intel shares fell more than 8% after announcing 25,000 job cuts and scrapping European projects.
- The tech giant’s move is part of a turnaround plan to improve its financial performance.
- AEye, Deckers Outdoors, UnitedHealth, and AST SpaceMobile also saw notable premarket moves.
Intel, AEye, Deckers Outdoor, UnitedHealth, and AST Spacemobile are catching the interest of traders.
This is where they were trading premarket at 7 a.m. ET Friday.
1. Intel
The move: The tech giant fell more than 8% to $20.76 per share after dipping about 3.5% on Thursday.
Why: Intel announced before the closing bell that it intends to cut 25,000 staff from its workforce this year as part of its turnaround plan and that it will scrap European projects.
2. AEye
The move: AEye is up about 18% to $3.44 a share following a 160% surge on Thursday.
Why: The digital health company announced at 8 a.m. PT that its Apollo lidar units have now been fully integrated into Nvidia’s Drive AGX platform. AEye is due to report its second-quarter results next week.
3. Deckers Outdoor
The move: Deckers Outdoor rose above 12% to $118.19 per share. It fell close to 3% on Thursday.
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Why: The footwear designer that owns Ugg reported better-than-expected second-quarter results before Thursday’s closing bell, with earnings per share 44% higher than analysts’ estimates.
4. UnitedHealth
The move: UnitedHealth is down about 0.6% to $277.03 per share, after declining almost 5% by the close.
Why: The company confirmed pre-close that the Department of Justice is investigating its Medicare billing practice. Although the exact details of the criminal allegations are not known, The Wall Street Journal reported in May that the DOJ was investigating UnitedHealth for potential Medicare fraud.
5. AST SpaceMobile
The move: The satellite designer and manufacturer dropped over 8% to $54.99 a share following a gain of 2% on Thursday.
Why: AST SpaceMobile announced at Thursday’s close a proposed private offering of $500 million of convertible senior notes — a type of debt security that pays interest to investors and can be converted into company stock under certain conditions.
