Check out the companies making headlines in pre-market trading. Intel — Shares fell more than 4% after the company disclosed widening operating losses at its semiconductor manufacturing business. Intel reported an operating loss of $7 billion for the company’s division in 2023, compared with $5.2 billion a year ago. Tesla — Shares of the electric car maker fell about 1% after Guggenheim and Deutsche Bank cut their price targets on the stock. Tesla lowered its target after reporting first-quarter deliveries that were well below expectations. Paramount Global shares rose 2.5% after The New York Times reported that the company may be in exclusive sale discussions with media company Skydance. Dave & Buster’s — Shares of Dave & Buster’s rose 5% after the restaurant and entertainment chain increased its stock repurchase authorization by $100 million, bringing the total available stock repurchase authorization to $200 million. However, the company also reported lower-than-expected fourth-quarter profit and revenue. Cal-Maine Foods — Shares of Cal-Maine Foods rose 7% after the egg producer reported earnings of $3 per share on revenue of $703 million in the latest quarter, noting that due to the recent outbreak of highly pathogenic avian influenza (HPAI) and the effects of normal seasonal fluctuations. The company also reported sales growth of 3%. Wolfspeed – Wells Fargo downgraded Tesla stock to equal weight from overweight, saying Tesla’s risk exposure is a drag on growth and lowered Wolfspeed’s price target to $30 per share from $55. Shares of the chipmaker fell 2%. Ally Financial — Shares fell 2% after Morgan Stanley downgraded the stock to underweight from neutral. The bank’s shares have soared more than 50% since early October, with analyst Richard Shane now seeing “limited upside potential based on current valuations”. —CNBC’s Hakyung Kim, Brian Evans, Lisa Han and Jesse Pound contributed reporting
