U.S. Futures Rebound, Intel Price Target Raised to $135
Markets are looking to rebound this morning after two sessions of selling pressure, with futures higher across the major indexes. The catalyst is a combination of bargain-hunting in beaten-down technology shares. Nasdaq futures are leading the advance, reflecting renewed interest in AI and semiconductor names after a sharp pullback earlier this week.Wednesday's CPI report showed headline inflation accelerating to 4.2% year-over-year, driven largely by energy costs. Meanwhile, this morning's PPI report showed producer prices for final demand in the U.S. increased 1.1% month-over-month in May, the same as a downwardly revised 1.1% rise in April and once again above forecasts of 0.7%.In pre-market trading, S&P 500 futures rose 0.49%, Nasdaq futures rose 0.83% and Dow futures rose 0.54%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Intelup 4% after BofA double upgraded the stock to Buy from Underperform with a price target of $135, up from $96, citing higher confidence in Intel's opportunity to help address industry constraints in leading edge wafers and packagingViaSatup 4% after announcing it was awarded a prime contract by the U.S. Space Force's Space Systems Command to build, launch and deliver the first of a proliferated fleet of small, maneuverable geosynchronous Earth orbit satellitesVoyager Technologiesup 3% after BTIG initiated coverage of shares with a Buy rating and $55 price targetEatonup 2% after announcing it will separate and combine its Mobility Group with Danain a Reverse Morris Trust transaction creating a combined company valued at over $10BUP AFTER EARNINGS -Navanup 20%Hooker Furnitureup 17%Lovesacup 1%Stitch Fixup 1%DOWN AFTER EARNINGS -Oxford Industriesdown 10%Oracledown 10%Aurora Cannabisdown 6%LOWER -Danadown 7% after announcing Eatonwill separate and combine its Mobility Group with the company in a Reverse Morris Trust transaction
