Check out the companies making headlines in premarket trading. Intel — Shares fell more than 4% after the company disclosed a growing operating loss in its semiconductor manufacturing business. Intel reported an operating loss of $7 billion in 2023 for the arm of the company, compared to $5.2 billion from one year prior. Tesla — The electric vehicle maker slipped roughly 1% after Guggenheim and Deutsche Bank slashed their price targets on the stock.
The company also posted weaker-than-expected fourth-quarter earnings and revenue, however. Cal-Maine Foods — The egg producer saw its shares jump 7% after it posted earnings per share of $3 and $703 million in revenue for the latest quarter, and noted that market prices moved higher sequentially in the third fiscal quarter due to both the recent impact of highly pathogenic avian influenza and normal seasonal fluctuations. The company also reported a 3% increase in sales volumes.
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