Intel, Tesla, Centene, Deckers, Charter: Stocks Making The Biggest Moves Today

Intel's shares plunged on Friday after the company said it could pause or discontinue its foundry business if it fails to secure a customer for the next technology cycle.

U.S. equities traded higher in Friday’s midday trade, with the SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, up 0.3% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, gained 0.35%.

Here are the top stocks making the biggest moves in Friday’s midday trade:

Intel Corp. (INTC)

Intel shares tumbled more than 10% in Friday’s trading session, after the company reported a loss of $0.10 per share and revenue of $12.9 billion in the second quarter. Stocktwits data showed the chipmaker was expected to report an earnings per share of $0.01 on a revenue of $11.97 billion.

Intel also said it plans to trim its workforce down to 75,000 by the end of 2025, down 22% from a year ago.

Amid this, Intel said in a filing on Thursday that it could “pause or discontinue” its foundry business if it fails to find a customer for its next technology cycle.

INTC stock is up a little over 2% for the year.

Tesla Inc. (TSLA)

Tesla shares soared in Friday’s trading session, hovering 5% higher at the time of writing. This is after a report stated that Tesla’s robotaxi launch in San Francisco could happen as soon as later today.

TSLA stock is down more than 20% for the year.

Centene Corp. (CNC)

Centene’s shares witnessed a see-saw movement on Friday – the stock was down nearly 11% during the pre-market trading session after the health insurer posted a surprise loss of $0.16 per share in the second quarter. However, it reversed course to gain more than 5% during the midday trade.

CNC stock is down nearly 54% for the year.

Deckers Outdoor Corp. (DECK)

Deckers Outdoor’s shares surged more than 12% on Friday after the company posted earnings per share (EPS) of $0.93, ahead of an expected $0.68, according to Stocktwits data. Its revenue came in at $965 million, surpassing a Street estimate of $900 million.

Deckers’ earnings were driven by better-than-expected sales from its Hoka and Ugg brands, the company said.

DECK stock is down 42% for the year despite the Friday surge.

Charter Communications Inc. (CHTR)

Charter shares fell nearly 18% in Friday’s midday trade after the company reported an EPS of $9.18 during the second quarter, lower than Wall Street’s estimate of $9.58, according to Stocktwits data. Charter’s revenue of $13.77 billion was in line with expectations.

However, the company said it lost 417,000 subscribers across its internet, video, and wireline voice services.

CHTR stock is down nearly 9% for the year.

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