On this episode of Stock Movers:
- Intel (INTC) has approached Apple Inc. about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government. Apple and Intel also have discussed how to work more closely together, said the people, who asked not to be identified because the deliberations are private. The talks have been early-stage and may not lead to an agreement, the people said.
- CarMax (KMX) shares tumbled the most in three years after the company’s weaker-than-expected results showed deepening strain in the used-car market. The auto retailer pointed to fallout from President Donald Trump’s tariffs and rising distress among consumers as it reported falling sales and profit. Earnings of 64 cents a share in the fiscal second quarter fell well short of the $1.03 average of analysts’ estimates compiled by Bloomberg.
- Electronic Arts (EA) is in talks to be taken private by a consortium led by Silver Lake Management, Saudi Arabia’s Public Investment Fund and Jared Kushner’s Affinity Partners. A takeover of Electronic Arts could announce a deal as soon as next week, and JPMorgan Chase & Co. is working on a financing package for the buyers. The company's shares closed about 15% higher at $193.35, giving Electronic Arts a market value of roughly $48 billion.
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