Check out the companies that make headlines before the bell. Intel – Chipmaker’s shares rose about 6% after SoftBank announced it would invest around $2 billion in the company and pay $23 per share in Intel’s common stock. This is coming as the US government reportedly considers taking stock in Intel. Palo Alto Networks – Cybersecurity stocks earned more than 6% after the company’s fourth quarter results surpassed Wall Street expectations. Palo Alto also posted better quarter and full-year guidance than expected, announcing founder and chief technology officer NIR Zuk is retiring. The result was that Cloud Strike, Zscaler and Fortinet all increased by around 1%, raising stocks of other names in the space. Fabrinet – The stock fell nearly 10% despite fourth quarter results exceeding expectations. Adjusted earnings of $2.65 per share just didn’t beat the $2.64 per share expected by analysts voted by FactSet. Revenue of $909.7 million has surpassed the consensus estimate of $883.1 million. Additionally, the company announced bright first quarter revenues and revenue guidance. Fabrinet’s shares have soared nearly 49% so far. Viking Holdings – Shares fell more than 2% following the latest quarter results. Vikings’ second quarter adjusted revenues were in line with analyst expectations, but their $1.888 billion revenues beat the expected $1.85 billion, according to FactSet. The company also said it plans to deliver six river boats for the remainder of the year. Best Buy – After the launch of the third-party marketplace, consumer electronics retailers will rise by 2%, with their products expanding to shoppers. XPENG – US stocks of Chinese electric vehicle startups earned more than 3%, just after the company posting losses that exceeded its second quarter expectations, per fact set. Revenue for this period is also outperformed by analysts’ estimates. Tegna – Stocks rose nearly 6%. Television stations Nexstar Media and Tegna announced Tuesday that Nexstar has agreed to acquire Tegna for $3.54 billion. The deal is expected to close by the second half of next year. Nexstar Media Shares also rose, up nearly 9%. Home Depot – Home Improvement Retailer’s shares added 1%. For the first time since 2014, the company lacked on both lines maintained its full-year outlook. – Reported by CNBC’s Alex Harring and Michelle Fox Theobald.
