By George Glover
Stock futures were falling Friday as the rally that was sparked by President Donald Trump scrapping his tariffs on eight European countries appeared to run out of steam.
These stocks were poised to make moves:
Intel slumped 14% in premarket trading after the chip maker beat analysts' estimates for fourth-quarter adjusted earnings and revenue but issued disappointing guidance for the current quarter. Intel forecast first-quarter revenue of $11.7 billion to $12.7 billion. The midpoint of that range is below the consensus call of $12.6 billion. The disappointing forecast looked set to snap a stellar run for Intel shares, which as of Thursday's closing bell had risen 47% already in 2026.
Other chip stocks were a touch lower following the results. Nvidia fell 0.6% and Advanced Micro Devices slipped 0.3% ahead of the opening bell. AMD notched an eight-day winning streak on Thursday, rising almost 25% over the period. It's the stock's longest run of gains since since February 2020, when it also rose for eight straight trading days.
Walt Disney slipped 0.5% after the entertainment company said late Thursday that it still expects to appoint a new CEO in "early 2026." Top of the new boss's to-do list will be reviving shares following a stagnant run: Disney stock has gained just 17% over the past 10 years, compared with a 263% jump for the S&P 500 and a 729% surge for Netflix.
Spotify Technology rose 1.9% to $508.30. Goldman Sachs analyst Eric Sheridan upgraded the music streamer's shares to Buy from Neutral, citing the company's ability to make premium price hikes stick. He lowered his price target to $700 from $730. The new price target implies the stock has 39% upside.
Tesla slipped 0.2%. The electric-vehicle maker closed Thursday up 4.2% after CEO Elon Musk said Tesla has begun offering robo-taxi rides in Austin, Texas, with no safety monitor. The company launched its service in June with human safety monitors in the front passenger seat.
BitGo slipped 0.7% to $18.37. The digital-asset infrastructure stock rose 2.7% on Thursday in its trading debut on the New York Stock Exchange. BitGo's initial public offering was priced at $18 a share late Wednesday.
Capital One Financial fell 2.8% after the credit card company said on Thursday that it had agreed to buy fintech platform Brex for $5.15 billion. Capital One also reported adjusted fourth-quarter earnings of $3.26 a share, well below the $4.69 a share analysts were expecting.
CSX climbed 4.1%. The railroad operator reported weaker-than-expected earnings and revenue for the fourth quarter. CEO Steve Angel said the results reflected "the subdued industrial demand environment," but promised a stronger financial performance in 2026.
Intuitive Surgical rose 3.7% after the maker of surgical robots reported better-than-expected earnings and revenue for the fourth quarter. Procedures performed by Intuitive's da Vinci robots jumped 17% from a year ago, the results showed.
Ericsson surged 7.4% after the Swedish telecommunications equipment maker smashed analysts' fourth-quarter earnings targets and raised its dividend to 3 kronor (33 cents). Ericsson also said it would propose $1.7 billion in share buybacks.
Earnings reports are expected Friday from SLB and Booz Allen Hamilton.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
January 23, 2026 06:06 ET (11:06 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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