AST SpaceMobile, Intel, On, Hims, and More Stocks That Explain Today's Market

Dow Jones08-11 18:56

Stocks looked set to struggle for direction on Tuesday as investors worried about inflation, with the likelihood Iran will agree a deal to reopen the crucial Strait of Hormuz shipping route soon looking increasingly unlikely.

Intel slid 1.2% to $96.33 in premarket trading after the chip maker said it now plans to raise $20 billion in a stock offering, up from $15 billion previously. The company plans to issue 210.5 million shares at a price of $95 each as it bids to pour more money into production to meet surging artificial-intelligence demand.

AST SpaceMobile fell 2.2% after the satellite operator said its second-quarter loss had widened from a year ago. Revenue for the period fell short of Wall Street's forecasts.

On Holding slumped 15% after the Swiss shoe maker's full-year sales guidance missed analysts' estimates.

Rocket Lab dropped 8.6% after the space launch services and technology provider reported a wider loss than analysts were expecting for the second quarter.

Hims & Hers Health declined 6.3% after the telehealth company's wider-than-expected loss for the second quarter overshadowed its full-year guidance hike.

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