Take a look at the businesses making headlines earlier than the bell: Intel — Shares of the chipmaker jumped round 6% after it was introduced that SoftBank will make a roughly $2 billion funding within the firm, paying $23 per share for Intel’s widespread inventory. This comes because the U.S. authorities reportedly has been contemplating taking a stake in Intel. Palo Alto Networks — The cybersecurity inventory gained greater than 6% after the corporate’s fiscal fourth-quarter outcomes topped Wall Avenue’s expectations. Palo Alto additionally posted better-than-expected first-quarter and full-year steerage and introduced that its founder and chief expertise officer, Nir Zuk, is retiring. The outcomes lifted shares of different names within the area, with CrowdStrike , Zscaler and Fortinet all up round 1%. Fabrinet — The inventory dropped almost 10%, at the same time as its fiscal fourth-quarter outcomes topped expectations. Its adjusted earnings of $2.65 per share simply barely beat the $2.64 per share that analysts polled by FactSet had been anticipating. Its income of $909.7 million topped the consensus estimate of $883.1 million. Moreover, the corporate introduced upbeat earnings and income steerage for the primary quarter. Fabrinet’s inventory has climbed almost 49% yr so far. Viking Holdings — Shares fell greater than 2% following its newest quarterly outcomes. Viking’s second-quarter adjusted earnings of 99 cents per share got here in step with analysts’ expectations, in keeping with FactSet, whereas its income for the quarter of $1.88 billion beat the $1.85 billion that was anticipated. The corporate additionally stated it plans to take supply of six river vessels throughout the remainder of this yr. Finest Purchase — The patron electronics retailer rose 2% following the launch of its third-party market , which is able to develop its product choices to buyers. Xpeng — U.S. shares of the Chinese language electrical automobile startup popped greater than 3% on the heels of the corporate posting a smaller-than-expected loss for the second quarter, per FactSet. Its income for the interval additionally topped analysts’ estimates. Tegna — Shares climbed almost 6%. Tv broadcaster Nexstar Media and Tegna introduced Tuesday that Nexstar has agreed to amass Tegna for $3.54 billion . The deal is predicted to shut by the second half of subsequent yr. Nexstar Media shares additionally rose, climbing almost 9%. Residence Depot — Shares of the house enchancment retailer added 1%. Regardless of the corporate lacking on each strains for the primary time since 2014, it maintained its full-year outlook. — CNBC’s Alex Harring and Michelle Fox Theobald contributed reporting.
