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Intel reported a surprise profit in the second quarter.
David Paul Morris/Bloomberg
Stock futures rose Friday as Wall Street awaited the release of the personal consumption expenditures price index, the Federal Reserve’s preferred gauge of inflation.
These stocks were poised to make moves Friday:
Shares of
Intel
(INTC) were jumping 6.8% after the chip maker reported a surprise second-quarter profit and issued a revenue forecast for the third quarter that was better than expectations. Chief Financial Officer David Zinsner told Barron’s that Intel will benefit from the rising interest in artificial intelligence applications, citing demand for its AI accelerator products and server processors. But the executive also said there may be some “wallet shift” to GPUs in the second half of the year in the data center segment.
Ford
(F) reported second-quarter earnings that beat Wall Street’s expectations and the auto maker raised its financial forecasts for the full year, saying it anticipates operating profit of between $11 billion and $12 billion, higher than a prior forecast of between $9 billion and $11 billion. But the stock fell 2.3% in premarket trading after
Ford
said it expects to reach a production rate of 600,000 electric vehicles in 2024. The company previously had said it would reach that rate by the end of 2023.
T-Mobile
(TMUS) reported second-quarter revenue of $19.2 billion, down 2.6% from a year earlier, and a little below Wall Street estimates of $19.3…
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