Intel shares jumped nearly 5% in premarket trading Friday after the chipmaker reported a 25% increase in Q2 revenue to $16.1 billion, surpassing analyst expectations. The company also beat forecasts on earnings per share and gross margins, with an adjusted gross margin of 41.8%.
Looking ahead, Intel raised its Q3 guidance, projecting revenue between $15.8 billion and $16.8 billion and adjusted EPS of $0.38, both above market estimates. Executives cited growing demand for CPUs, foundry services, and AI-driven packaging solutions as key growth drivers.
SAP followed with a 6.1% premarket gain after exceeding Q2 earnings forecasts and reporting a 24% increase in cloud revenue. The European software giant raised its 2026 cloud and software revenue outlook, highlighting strong adoption of its Autonomous Enterprise and AI platform. This eased investor worries about AI disrupting traditional software firms.
Safety Insurance soared 42% after announcing a $1.54 billion all-cash takeover by Mapfre, valuing each share at $105. This deal made Safety Insurance the session’s biggest premarket gainer.
Meanwhile, Amkor Technology surged 9% thanks to a new multi-year partnership with Nvidia focused on AI semiconductor packaging. By contrast, Deckers Outdoor slipped about 3% as its full-year guidance fell short despite reporting better-than-expected earnings.
equity futures edged higher Friday as oil prices retreated, easing inflation concerns that had weighed on markets earlier. Technology sector earnings kept investors busy, with mixed reactions across semiconductor stocks: Micron and Sandisk declined despite Intel’s strong report.
