Stock Movers: Intel Surges on US Government Stake Talks, Tapestry Tumbles

Intel's Potential US Government Stake

• 💡 Intel shares surged nearly 9%, closing up 7.4%, on reports of US government talks to take a stake in the chipmaker.
• 🎯 This potential investment aims to support Intel's domestic manufacturing expansion, particularly its planned factory hub in Ohio.
• 🤝 The discussions reportedly stem from a meeting between President Trump and Intel CEO Lip-Bu Tan, with the US government potentially funding the stake.

IPO Market Activity

• 🚀 MAX, an exchange operator, celebrated its IPO with a nearly 34% gain on its first day of trading.
• 📈 Bullish, another IPO this week, continued its rally, adding almost 10% today after a significant surge yesterday.

Companies Facing Challenges

• 📉 John Deere tumbled as much as 8.4%, ending down 6.7%, after trimming its annual earnings outlook due to lower grain prices delaying machinery purchases and tariff costs.
• ⚠️ Coherent shares fell 19.6% following an underwhelming outlook and the sale of its aerospace and defense business for $400 million.
• 🔻 Tapestry, parent company of Coach and Kate Spade, saw shares drop 16% due to tariff costs and weakness in the Kate Spade brand, despite its Coach brand performing well.

Earnings and Regulatory News

• 📊 Applied Materials reported third-quarter semiconductor system sales of $5.43 billion, beating estimates, with total net sales of $7.3 billion and adjusted EPS of $2.48, also exceeding expectations, though the stock traded down in after-hours.
• ⚖️ Hims & Hers Health shares dropped 2.4% in after-hours trading amid an FTC probe into cancellation practices and reports of class-action lawsuits concerning deceptive promotion of products.