Kroger Falls on Downbeat Forecast; Intel Surges on Apple Deal
Kroger shares fell the most intraday since October 2022 after the CFO said Q2 adjusted EPS would be flat year-over-year, while Intel surged on news of a chip design and production deal with Apple.
Kroger shares tumbled the most intraday since October 2022 after the company's finance chief delivered a cautious outlook for the current quarter, while Intel surged in premarket trading on news of a semiconductor design and manufacturing partnership with Apple.
Kroger CFO David Kennerley said adjusted earnings per share for the second quarter are expected to be in line with a year ago, disappointing investors who had hoped for growth. The stock slid sharply, reflecting concerns about the grocery chain's near-term profitability amid a competitive retail environment. For real-time stock quotes on Kroger and other equities, traders can check NowPrice for the latest levels.
Intel shares rose after President Trump announced that the chipmaker will work with Apple to design and produce semiconductors domestically. The deal marks a significant step for Intel's foundry business and strengthens its position in the US chip supply chain. Separately, Smith & Wesson shares also gained after reporting adjusted profit of 36 cents per share on sales of $178.4 million for the latest quarter.
Looking ahead, investors will watch for Kroger's full quarterly results and any updates on its cost-saving initiatives. For Intel, the Apple partnership could provide a long-term revenue boost, but execution risks remain. Traders should monitor broader market sentiment and sector rotation as earnings season progresses.