Several U.S. companies experienced significant stock price movements in premarket trading on Thursday, June 18, following a series of corporate announcements, executive changes, and earnings reports. Sectors from technology to travel were affected by the developments.
Intel shares increased nearly 9% after a post on the Truth Social platform by former President Donald Trump stated the company had secured a deal with Apple to design and build chips in the United States. Following the post, Apple’s shares gained less than 1%. The development corresponded with broader gains in the semiconductor industry. Marvell Technology shares rose nearly 7%, while Lam Research and Applied Materials each increased by approximately 5%. Memory chip manufacturers also saw gains, with Western Digital rising 5.6% and both Micron Technology and Sandisk increasing by about 4%.
In contrast, shares of Accenture declined 13%. The professional services company announced it had agreed to acquire asset intelligence company runZero and supply chain security company Netrise. The announcement also included the acquisition of a majority stake in cybersecurity firm Dragos. The company valued the combined deals at approximately $4.175 billion.
Smith & Wesson shares rose 14% after the company reported earnings and revenue that exceeded analyst expectations. The firearm manufacturer stated that its handgun sales to sporting goods retailers had increased 23% year over year. According to the report, handguns represented 80% of the units the company shipped in the quarter.
In the pharmaceutical sector, Pfizer shares fell 1% following the announcement that Chief Financial Officer Dave Denton will step down from his position on August 15. The company has named Cecile Guegan, a senior vice president of finance, as interim CFO.
Travel industry stocks saw gains. Shares of cruise operators Carnival, Royal Caribbean, and Norwegian Cruise Line rose 3%, 2%, and 2% respectively, with reports citing falling oil prices as a factor. Airline stocks also increased, with United Airlines, Delta Air Lines, and American Airlines all rising by approximately 2%.
SpaceX shares declined 1.2% in premarket trading, continuing a downward trend after a 5% loss on Wednesday.
