Intel, Ford, Roku, Reata, Exxon, Enphase, Juniper and more stock movers

Shares of Intel (INTC) rose 5.5% after the chipmaker reported a surprise second-quarter earnings and made a better-than-expected third-quarter revenue forecast. Chief Financial Officer David Zinsner told from Baron that Intel will benefit from the increasing interest in artificial intelligence applications, citing demand for its AI accelerator products and server processors. But the director also said there may be a “wallet shift” to GPUs in the second half of the year in the data center segment.

Ford (F) reported second-quarter earnings that beat Wall Street expectations and the automaker raised its full-year financial guidance, saying it expects operating profit of between $11 billion and $12 billion, higher than a previous forecast of between $9 billion and $12 billion. $11 billion. But stocks fell 4% after Ford said it expects to reach a production rate of 600,000 electric vehicles by 2024. The company had previously said it would hit that rate by the end of 2023.

Roku (ROKU), the streaming device maker, rose 25% after reporting a smaller-than-expected loss and giving a better-than-expected third-quarter outlook.

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Exxon Mobil (XOM) reported second-quarter adjusted earnings of $1.94 per share, lower than analyst estimates of $2.03. Revenue of $82.9 billion beat forecasts of $81.8 billion. Exxon shares fell 1.7%.

Procter & Gamble (PG) rose 2.7% after beating quarterly results and revenue expectations following further price hikes at the maker of Tide laundry detergent and Crest toothpaste.

Reata Pharmaceuticals (RETA) rose 52% to $165.16 after Biogen (BIIB) agreed to acquire the company for $7.3 billion in cash. Biogen pays $172.50 per share of Reata. Biogen was up 1.5%.

Enphase energy

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(ENPH) fell 7.8% after second-quarter sales beat expectations and the solar equipment maker said it expects third-quarter sales of between $550 million and $600 million, well below estimates analysts.

Sleep Number (SNBR) fell 30% after Q2 revenue fell 16% to $459 million, missing consensus forecasts of $471 million. The bed and mattress maker said it expects earnings of $1.25 to $1.75 per share in 2023, which assumes sales will be low to mid-single digits from a year earlier.

Juniper Networks (JNPR) fell 6.6% after the networking equipment supplier said it expects third-quarter revenue of about $1.385 million, plus or minus $50 million, as it expects to see “continued weakness in bookings, especially with our cloud and, to a lesser extent, the customers of our service providers.” Analysts expect revenue of about $1.48 billion.

Write to Joe Woelfel at

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