Major Market Movers in Premarket Trading: Intel, Oracle, American Express and More

Significant shifts are occurring in premarket trading across several key sectors. Intel shares surged 4% following a report of its most significant quarterly revenue growth in nearly 15 years, with Q2 revenue hitting $16.1 billion—a 25% increase year-over-year. The company also exceeded analyst expectations with adjusted earnings of 42 cents per share. In contrast, footwear manufacturer Deckers Outdoor saw its shares decline by 3% after first-quarter revenue of $1.02 billion aligned with LSEG estimates, while performance from the Hoka and Ugg brands fell short of market expectations.

Oracle shares climbed nearly 3% following the announcement of a massive 10-year software agreement with the Pentagon. The nearly $7 billion deal involves providing on-premises software solutions for various branches of the U.S. military. Meanwhile, Robert Half shares dropped nearly 7% after reporting underwhelming second-quarter results; while earnings of 26 cents per share matched FactSet forecasts and revenue of $1.34 billion slightly exceeded expectations, the overall results were deemed insufficient.

Amkor Technology saw its stock jump over 11% after announcing a multiyear $1.5 billion partnership with Nvidia aimed at developing advanced semiconductor packaging and testing technologies for artificial intelligence. Conversely, MaxLinear shares tumbled over 9%, despite reporting second-quarter earnings and guidance that surpassed expectations. This decline follows a massive 400% stock price increase through 2026 leading up to the report.

In the consumer sector, Boston Beer added 1% to its value after second-quarter revenue of $568.3 million narrowly beat the $566.7 million consensus. The company also reaffirmed its full-year earnings guidance of $8.50 to $10.50 per share. Tenet Healthcare saw a significant rally of over 16% after reporting adjusted second-quarter earnings of $6.12 per share, well above the $4.26 expected by FactSet analysts, alongside a revenue beat and raised full-year guidance.

American Express shares fell 3% as the credit card issuer reported second-quarter revenue of $19.64 billion, missing the $19.71 billion expected by LSEG analysts, although earnings still surpassed expectations. In Europe, SAP shares rose 5% after reporting a 27% year-over-year growth in its cloud backlog, reaching 22.9 billion euros.

SLB shares increased 2% after delivering a second-quarter beat in both earnings and revenue, marking a return to year-over-year growth driven by increased energy security and production expansion. Charter Communications shares dropped over 4% as adjusted EBITDA and free cash flow both fell short of estimates. Finally, Verizon Communications saw a 1% uptick following a mixed second-quarter report that featured an earnings beat but a revenue miss, though full-year guidance was raised.

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