Check out which companies are making headlines in pre-market trading. Intel – Shares fell more than 4% after the company disclosed a widening operating loss in its semiconductor manufacturing business. Intel reported an operating loss of $7 billion in 2023 for the corporate arm, compared to $5.2 billion the previous year. Tesla – The electric car maker fell nearly 1% after Guggenheim and Deutsche Bank cut their price targets for the stock. The targeted cuts come on the heels of Tesla announcing much weaker-than-expected delivery numbers in the first quarter. Paramount Global – Shares rose 2.5% after a report from The New York Times said the company would likely enter into exclusive sale discussions with media company Skydance. Dave & Buster's – Shares jumped 5% after the restaurant and entertainment chain increased its stock repurchase authorization by $100 million, bringing the total available stock repurchase authorization to $200 million. However, the company also reported weaker-than-expected earnings and revenue in the fourth quarter. Cal-Maine Foods – The egg production company saw its shares rise 7% after reporting earnings per share of $3 and $703 million in revenue last quarter, and noted that market prices rose sequentially in the fiscal third quarter due to both the recent impact of bird flu and Highly pathogenicity (HPAI) and normal seasonal fluctuations. The company also announced an increase in sales volume by 3%. Wolfspeed – The chip maker lost 2% after Wells Fargo downgraded the stock to equal weight from overweight, citing Tesla exposure as a drag on growth, and cut its price target on Wolfspeed to $30 per share from $55. Ally Financial – Shares fell 2% after a rating downgrade to Underweight from Neutral at Morgan Stanley. The lender's stock has risen more than 50% since early October, and analyst Richard Chen now sees “limited upside potential based on current valuation.” — CNBC's Hakyung Kim, Brian Evans, Lisa Hahn and Jessie Pound contributed reporting.
