NEWS
Monday? More Like 2 Days Til Fed Day

U.S. stocks were mixed on the day, with weakness in Apple, Nvidia, and Broadcom dragging down the tech-heavy indexes. Meanwhile, small-caps remain well-bid, hoping Wednesday’s rate cuts will boost the indexes. 👀

Today's issue covers Intel popping on turnaround potential, BP breaking off its wind business, and the red-hot Indian market’s latest IPO. 📰

Here’s the S&P 500 heatmap. 9 of 11 sectors closed green, with financials (+1.30%) leading and technology (-0.38%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $ZNTL, $REE, $OMEX, $BLCO, $CSLR 📉 $FERG, $TUP, $GOEV, $MGNI, $NKGN*

*If you’re a business and want to access this data via our API, email us.

COMPANY NEWS
Intel Pops As Potential Turnaround Play 🧐

The semiconductor giant’s shares are finally finding support after it announced a plan to turn its foundry business into a subsidiary and allow for outside funding.

The foundry business produces chips for other customers and has been a major drag on Intel’s bottom line. Over the past two years, Intel has spent $25 billion on it. Concern over the long-term viability of this business has caused Intel's stock to fall 60% during 2024 while its competitors’ stocks have soared. 💸

Today’s news is a welcome change of pace. Investors are ultimately pushing for the company to completely spin off this business and allow each business to focus on its core competency. Additionally, Intel said it will sell off part of its Altera stake as it looks to shore up its balance sheet.

Lastly, the company is expanding its deal with Amazon Web Services to produce custom chips for artificial intelligence (AI), extending its long-term partnership. This could give Intel a meaningful foothold in the market for AI server chips, where it has fallen significantly behind its competitors. 🤖

Shares continued rebounding from recent 13-year lows after hours, rising an additional 9% as Stocktwits sentiment pushes into ‘bullish territory.’ For the first time in quite a while, there’s thought that Intel could actually pull it off. 👍

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