Intel, SoFi, Apple among top movers in after-hours trading
The financial markets witnessed heavy activity in after-hours trading, with several high-profile stocks experiencing significant price movements. Intel, SoFi, Starbucks, Alphabet, and Apple were among the top movers, driven by a mix of company-specific news, analyst upgrades, and investor sentiment.
Intel: Flat amid network spin-off buzz
Intel’s shares remained flat in after-hours trading, despite the tech giant’s announcement to spin off its network and edge business into a new company. The move is aimed at focusing on Intel’s core CPU business and allowing the new company to operate more independently. While the news was not enough to spark a significant price movement, investors are likely to keep a close eye on the development as it could have implications for the company’s future growth and profitability.
SoFi: 5.6% drop on $1.5 billion stock offering
SoFi’s shares dropped 5.6% in after-hours trading after the fintech company announced a $1.5 billion stock offering. The move is part of SoFi’s strategy to raise additional capital to fuel its growth plans and expand its offerings. The decline in stock price may be attributed to investor concerns over the company’s ability to manage the increased debt and its impact on future profitability.
Alphabet: 0.9% slip despite Wells Fargo upgrade
Alphabet’s shares slipped 0.9% in after-hours trading, despite an upgrade from Wells Fargo. The analyst firm raised its rating on the company to “overweight” from “equal weight,” citing Alphabet’s strong cloud computing business and its growing presence in the emerging markets. The decline in stock price may be attributed to investor concerns over the company’s slowing revenue growth and increased competition in the tech space.
Starbucks: 4.5% rise on better-than-expected Q3 revenue
Starbucks’ shares rose 4.5% in after-hours trading after the coffee chain reported better-than-expected Q3 revenue. The company’s revenue growth was driven by its increased focus on digital transformation, including mobile ordering and loyalty programs. The strong earnings report may have boosted investor confidence, leading to the significant price movement.
Apple: Remained flat ahead of earnings
Apple’s shares remained flat in after-hours trading, ahead of the company’s Q4 earnings report. The tech giant is expected to report strong earnings, driven by its growing services segment and continued demand for its iPhone and other products. Investor sentiment may be cautious ahead of the earnings report, as the company’s guidance and future outlook could have a significant impact on the stock price.
Retail sentiment surges across all five
According to Stocktwits data, retail sentiment surged across all five stocks, with Intel and Starbucks experiencing the largest increases. The data suggests that retail investors are increasingly optimistic about these companies, driven by their strong fundamentals, growth prospects, and recent earnings reports.
In conclusion, the after-hours trading session saw significant price movements across several high-profile stocks. Intel’s flat performance amid network spin-off buzz, SoFi’s 5.6% decline on a $1.5 billion stock offering, Alphabet’s 0.9% slip despite an upgrade, Starbucks’ 4.5% rise on better-than-expected Q3 revenue, and Apple’s flat performance ahead of earnings all highlight the volatility of the financial markets. As investors continue to digest this information, it will be important to monitor retail sentiment and company-specific news to stay ahead of the curve.
