Stock Movers: Intel Rallies on Potential US Stake, Viking Therapeutics Plunges on Drug Trial Results, Home Depot Sales Grow

Intel's Potential Government Stake

• 💡 Intel (INTC) shares saw a significant rally, driven by news that the US government, under the Trump administration, is considering taking a non-voting stake of about 10%.
• 💰 This potential stake, possibly converting grants from the US Chips and Science Act into equity, could provide Intel access to approximately $10 billion in capital.
• 🚀 The move follows SoftBank's recent $2 billion bet on Intel's AI revival and comes after President Trump previously called for the ouster of CEO Lip-Bu Tan.

Viking Therapeutics Disappoints with Obesity Pill Trial

• 📉 Viking Therapeutics (VKTX) experienced a sharp plunge, down as much as 45% in its worst day since 2016.
• ⚠️ This decline occurred after a mid-stage study of its experimental oral obesity pill showed that 28% of patients dropped out within three months due to side effects.
• 🎯 The results dashed speculation that the oral treatment could compete with established weight-loss injections from Eli Lilly & Co and Novo Nordisk A/S.
• 💰 Short sellers reportedly reaped significant profits, with one-day paper profits estimated at $514 million.

Home Depot Sales Show Modest Growth

• 📈 Home Depot (HD) shares rose as the company reported a return to sales growth in its second quarter.
• 📊 Comparable sales increased by 1%, an improvement from a 3.3% decline a year ago, though slightly below analyst estimates.
• 🌱 Shoppers are reportedly investing in smaller projects, such as gardening and lighting, which have served as a tailwind for the retailer.
• 💬 The CFO noted that customers are putting projects on hold rather than canceling them, suggesting a potential stabilization in the home improvement market.