On this episode of Stock Movers:
- Intel (INTC) shares are lower as CEO Lip-Bu Tan sparked concerns that he is more focused on cost cutting than restoring the company's technological edge. Tan said the company will cancel some factory projects and take a more conservative approach to future spending, calling investments begun under his predecessor "excessive and unwise." Intel will reduce capital expenditures and has laid off thousands of employees, with plans to cut staff by 15% and end the year with 75,000 employees.
- Charter Communications (CHTR) shares are down in premarket trading, after the cable company reported second-quarter earnings that missed expectations. In its second quarter results, Bloomberg Consensus EPS was $9.82 but it came in at $9.18.
- Deckers Outdoor (DECK) share are higher in the premarket as net sales for Ugg and Hoka surpassed analysts' estimates in the fiscal first quarter ended June 30, with Ugg sales rising about 19% and Hoka increasing roughly 20%. The company's shares jumped as much as 12% in premarket trading on Friday, after having fallen 48% this year through Thursday's close.
- Coursera (COUR) is soaring after the online education company reported second-quarter results that beat expectations and raised its full-year revenue forecast. It saw revenue at $188 million to $192 million, beating the estimate $182.4 million. It also sees adjusted Ebitda $10 million to $14 million, after an estimate of $10.7 million.
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