Stocks to Watch Intel, Target, Cisco
Trending stocks today are:
Intel (INTC): The chip maker scuttled a $5.4 billion acquisition of Israel’s Tower Semiconductor after failing to get approval from Chinese authorities before a late Tuesday deadline. Intel shares were down slightly in morning trading.
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Marketwatch:
Intel (INTC): shares were down today
Target (TGT): stock jumped 7%
Crestwood (CEQP): shares rose more than 3%
TJX (TJX): the stock was recently up 4%
H&R Block (HRB): shares surged more than 8%
Tesla (TSLA): shares slipped after it cut prices in China#stocks pic.twitter.com/lkmMUn51fX— The_Journalbiz (@the_journalbiz) August 16, 2023
Factset chart on stocks
Target (TGT): The retailer’s stock jumped more than 6% in morning trading after it reported higher-than-expected quarterly earnings. Still, Target said shopper backlash over its Pride Month collection and cautious consumers had pushed sales sharply lower.
Crestwood Energy Partners (CEQP): The oil-pipeline company’s shares rose more than 3% after Energy Transfer agreed to acquire its rival in a deal worth more than $7 billion.
TJX (TJX): The owner of T.J. Maxx reported quarterly results that were better than its own estimates, and lifted its full-year financial guidance. TJX stock was recently up more than 3%.
H&R Block (HRB): The tax-prep company’s shares surged more than 8%, boosted by solid quarterly results that topped Wall Street’s estimates for revenue and profit.
Tesla (TSLA): The car maker’s shares slipped after it cut prices for its Model S and Model X cars in China. Tesla had already cut some other prices in China earlier this week, and on Tuesday it released cheaper versions of both cars in the U.S.
Sea (SE): Shares in the Southeast Asian internet company fell more than 3%, suggesting Sea stock could remain under pressure Wednesday, after a 29% drop in the previous session.
Vinfast (VFS): The newly listed electric car maker’s shares sank about 30%. The Vietnamese-founded automaker’s stock surged in its debut Tuesday, more than tripling in value, after it completed a merger with a special purpose acquisition company
